To curb tax evasion, the government has now increased its guard. A new rule has been made to prevent tax evasion from cash transactions across the country. The Central Board of Direct Taxes (CBDT) has issued a notification for this. It will be mandatory to provide PAN details According to the notification of CBDT, now …
The Supreme Court on Wednesday invoked its extraordinary powers under Article 142 of the Constitution to upload all reassessment notices issued after march 31, 2021, by the income tax department reopening assessments going back six years. In the budget for FY22, the government had reduced this reopening period to three years with effect from April …
“It becomes the responsibility of all the State Governments, knowledge partners and international agencies to support the Panchayats for the attainment of Sustainable Development Goals”, said Shri Sunil Kumar, Secretary, Ministry of Panchayati Raj while addressing the gathering of representatives of Panchayati Raj Institutions, representatives of UNICEF, UNFPA, senior officers of the Central Government and …
The Cryptocurrency industry has appealed to the government to reexamine the budget proposal to impose a tax deduction at source or TDS on virtual digital assests transactions, saying it will be difficult to comply with. The industries also urged the government to reconsider the decision to levy a tax of 30% on currency market value …
As part of the Aatma nirbhar Bharat Initiative, Ministry of Food Processing Industries is implementing a Centrally Sponsored PM Formalization of Micro food processing Enterprises (PMFME) Scheme for providing financial, technical and business support for setting up/ up gradation of 2 lakh micro food processing enterprises through credit linked grant during five years from 2020-21 …
If you do a job or business somewhere, then you may have to pay Income Tax. Employed people have to pay income tax not only on salary but also on many things like interest coming from savings, earning from home, side business, capital gains. But do you know that there are some sources of income …
Common people have high hopes from this budget. Actually, due to the creaking economy and rising inflation due to Corona havoc, people are in the hope that the government can give them relief in this budget. In this sequence, apart from giving a growth booster to the economy, there is a possibility of big relief …
On consideration of difficulties reported by the taxpayers and other stakeholders due to COVID and in electronic filing of various reports of audit under the provisions of the Income-tax Act,1961 (Act), the Central Board of Direct Taxes (CBDT), in exercise of its powers under Section 119 of the Act, provides relaxation in respect ofthe following …
The last month of the year 2021 i.e. December is going on. By the end of this month, you have to tackle many important tasks at any cost. If you do not complete these tasks before the due date, then you may suffer a big loss. If you have not filed income tax return yet, …
Today is a very important day for the banking sector for the country and for crores of bank account holders of the country. How a big problem that has been going on for decades has been solved, today is a witness to it. In the name given to today’s event, Depositors First is putting the …