Page 26 - Latest Updates on Income tax
PAN-Aadhaar Link: A step by step guide to link two cards before deadline
PAN and Aadhaar card link last date: The Income Tax Department has fixed the last date to link the two cards as March 31, 2023, but the users will have to pay a penalty of Rs 1,000
 "PAN-Aadhaar Link: A step by step guide to link two cards before deadline")
Gift, loan, house rent: How your family can help in saving taxes
Provisions in the law allow your parents, spouse and siblings to maximise your tax returns
 "Gift, loan, house rent: How your family can help in saving taxes")
PAN-Aadhar link to ITR filing: Complete these 5 financial tasks by March 31
From linking PAN card and Aadhaar Card to submission of updated income tax return (ITR), failure to meet these deadlines may lead to financial losses
 "PAN-Aadhar link to ITR filing: Complete these 5 financial tasks by March 31")
Government workers in Sri Lanka stage protest over income tax hike
Sri Lankan health, railway, port and other state workers were on a daylong strike on Wednesday
 "Government workers in Sri Lanka stage protest over income tax hike")
Amazon Web Services served Rs 549 crore income tax demand notice: Report
AWS: The income tax department has reportedly raised the demand for Rs 190.85 crore tax for 2014-15 and Rs 358.27 crore for 2016-17 by invoking Section 147 of the Income-tax Act
 "Amazon Web Services served Rs 549 crore income tax demand notice: Report")
Meet the last advance tax deadline for FY23 to steer clear of penalties
If you miss the date, penalty will be levied at a simple interest rate of one per cent per month or part of a month
 "Meet the last advance tax deadline for FY23 to steer clear of penalties")
Seven mistakes seniors make while planning their taxes and finances
They could invest in SCSS in tranches to optimise Sec 80C benefits and park some money in PMVVY before it closes on Mar 31
 "Seven mistakes seniors make while planning their taxes and finances")
No income tax on agricultural produce for next 2 fiscal years: Bengal FM
The state government has also announced the withdrawal of two types of cess on raw tea leaves for the period
 "No income tax on agricultural produce for next 2 fiscal years: Bengal FM")
Centre suspends FCRA licence of think tank CPR amid I-T searches
According to the report, officials said that CPR's licence was revoked recently over non-compliance with FCRA norms.
 "Centre suspends FCRA licence of think tank CPR amid I-T searches")
House rent allowance: Tax exemption can be claimed on rent paid to parents
Prepare an agreement, pay rent into their bank accounts, and ensure they pay tax on it
 "House rent allowance: Tax exemption can be claimed on rent paid to parents")
BBC does not have an agenda, says chief to staff in India after I-T survey
BBC is not driven by an "agenda" but by purpose and will not be put off reporting impartially and without fear or favour, the UK-headquartered media organisation's chief has said
 "BBC does not have an agenda, says chief to staff in India after I-T survey")
Explained: Does the new tax regime adversely affect household savings?
New tax regime does not have tax deductions as is given under various provisions such as 80C or 80D of the Income Tax Act
 "Explained: Does the new tax regime adversely affect household savings?")
How health check-up, insurance premium can help you in saving tax
Preventive check-up is one available to save tax based on medical-related issues
 "How health check-up, insurance premium can help you in saving tax")
India lost 2 Bhutans worth of individual taxpayers to Covid-19 pandemic
Growth rate of new tax payers has been under pressure in recent years
 "India lost 2 Bhutans worth of individual taxpayers to Covid-19 pandemic")
Income Tax 'survey' operations at BBC offices continues for third day
The Income Tax department's 'survey' at the BBC office here continued for the third straight day as officials gathered financial data from select staffers and made copies of electronic and paper data
 "Income Tax 'survey' operations at BBC offices continues for third day")
Income tax 'raids': What is the difference between surveys and searches?
Not every income tax department operation is a 'raid'. Here is what the I-T Act says about 'surveys' and 'searches'
 "Income tax 'raids': What is the difference between surveys and searches?")
Top headlines: ALT's ESG rating under review, Srei group resolution & more
Business Standard brings you the top headlines at this hour
 "Top headlines: ALT's ESG rating under review, Srei group resolution & more")
Old vs new: Soon, I-T portal may show which tax regime's best for you
The system will also compare the two schemes in an easy-to-understand format, said another source
 "Old vs new: Soon, I-T portal may show which tax regime's best for you")
Income Tax Department sleuths survey BBC's Mumbai studios, Delhi office
The sources also said that the team reached there to verify documents and some of the employees were also asked to leave the office and go home
 "Income Tax Department sleuths survey BBC's Mumbai studios, Delhi office")
Fully cooperating with Indian income tax authorities, tweets BBC
The surprise action comes weeks after the broadcaster aired a two-part documentary, "India: The Modi Question"