Link PAN- Aadhaar: If you have not yet linked your Permanent Account Number and Aadhaar Card, then this negligence is going to be very heavy on your pocket. For this, not only will you face a fine of Rs 10,000, but your PAN will also become illegal. For this, you have only 2 days left, …
Income Tax Rules Change: From April 1, 2021, many rules related to income tax will be changed. Finance Minister Nirmala Sitharaman (Union Finance Minister Nirmala Sitharaman) announced these changes in Budget 2021. The new changes include exempting 75-year-olds from filing income tax, in addition to raising TDS and making big announcements on tax on EPF. …
Chartered accountant firms and hospitals are under scrutiny after the revenue department found mismatches between their income tax and indirect tax filings. Tax authorities have also decided to slot consultant doctors as ‘intermediaries’ for taxation purposes even as medical services are outside the purview of goods and services tax (GST), people aware of the development …
The Income Tax Department has made a big announcement about the direct tax dispute resolution scheme ‘Vivad se Vishwas‘. Now the government has extended the deadline for giving information under this scheme to 31 March and the time for payment till 30 April. The Income Tax Department has written on Twitter, ‘CBDT has extended the …
New Section 115BAC has been introduced in the art which has provided an option to the individual and HUF to opt for the new tax regime which has following key conditions;- This is an optional scheme i.e. assesse may or may not opt for the same. The scheme is for an individual or a Hindu …
With the implementation of GST, 2017 saw a complete change in the way we used to pay our taxes. Scroll down for more details on how the government of India gets it money and pick the trend you want to see: personal income tax, corporate taxes, service tax, excise or customs duties. SOURCES OF REVENUE …
The last date to fill the ITR for the financial year 2019-20 was 10 January 2021, which has passed. The government has extended the date of filing income tax returns many times, even if you forget to fill your ITR, there is no need to panic, you can still fill your Income Tax Return. ITR …
The Income Tax Department had extended the date of filing of income tax returns for Assessment Year 2020-21 (FY 2019-20) to 10 January due to Corona crisis. According to the Income Tax Department, till January 6, around 5.61 crore people have filed ITR. Do this preparation first First of all, to file ITR, keep your …
Issuance by Authorised Branches of State Bank of India (SBI) during January 01-10, 2021 The Government of India has notified the Electoral Bond Scheme 2018 vide Gazette Notification No. 20 dated 2nd January 2018. As per provisions of the Scheme, Electoral Bonds may be purchased by a person (as defined in item No. 2 (d) of …
According to the income tax law, if you deposit money in your wife’s account every month as a home expense, then it is not wrong. But in some circumstances it starts showing as the income of the wife. And then tax has to be paid. Let’s know what the tax experts say about this The …