Tue, Jul 23, 2024
TDS of one per cent will apply on sale of an immovable property valued at Rs 50 lakh and more, even if there are multiple buyers and sellers involved in the transaction.
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Thu, Apr 11, 2024
However, if an individual's total interest income is below the taxable limit, then they can submit Form 15G and 15H to the bank and request them not to deduct any TDS.
Thu, Mar 28, 2024
NPS account holders must deposit at least Rs 1,000 in a Tier-1 account each fiscal year. However, the minimum deposit regulation does not apply to NPS Tier 2 accounts. NPS Tier 1 account holders can get an additional Rs 50,000 tax exemption under Section 80CCD(1B) of the Income Tax Act.
Wed, Feb 01, 2017
Jaitley announced that the threshold limit for audit of business entities who opt for presumptive income scheme increased from Rs 1 crore to now Rs 2 crore.
Thu, Jan 26, 2017
Post demonetisation, the Income Tax department has started the process of engaging private entities to match the data with I-T return or other information of assessees.
Mon, Jan 23, 2017
Find out what are Budget 2017 expectations of payment gateway companies like Telr, Payoneer, Atom Technologies, TechProcess Payment Services, RazorPay, Chillr, Happay and PayU India.
Fri, Dec 30, 2016
Government's direct tax kitty has swelled to Rs 5.57 lakh crore between April 1 and December 19, thereby achieving 65 per cent of budget estimates.
Thu, Dec 22, 2016
It has also asked users not to use the same password for different accounts.
Tue, Oct 25, 2016
The Ministry of Finance said, "This initiative will initially benefit approximately 2.5 crore salaried cases. The CBDT will soon extend this facility to another 4.4 crore non-salaried taxpayers. The frequency of SMS alerts will be increased, once the process for filing TDS returns is streamlined to receive such information on a real-time basis."
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