Page 5 - Income Tax Act

After SC verdict on Benami law, experts weigh in on the Black Money law

The Black Money law penalises the concealment of foreign income and imposes criminal liability for attempting to do so

Income taxpayers can't join Atal Pension Yojana from Oct 1: Govt

Social security scheme should reach the poor and underprivileged, says official

Tax payers can no longer be a part of the Atal Pension Yojana: FinMin

A notification by the Ministry of Finance further said that those who are already a part of the APY scheme, will cease to be so from October 1 but they will receive their accumulated money

New SEZ law to focus on job creation and research, not foreign exchange

The Bill shall propose the re-introduction of certain direct tax benefits, under which units set up in these development hubs shall attract a 15 per cent corporate tax until 2032

Income tax rules: Here are the changes in rules from July 1, 2022

While the late fees for linking PAN-Aadhaar will shoot up, doctors and influencers will have to pay 10% TDS on the benefits they receive from sales promotions

Get a fix on key changes in the new Income Tax Return Forms for AY 2022-23

The forms are quite elaborate and seek a lot of information, so get the documentation and paperwork ready, and make complete disclosures while filing returns

Income Tax Act must be replaced by Direct Tax Code: P Chidambaram

The debate remained inconclusive and will be resumed on Tuesday, along with the Finance Minister's reply

How to respond to a notice for reassessment of income u/s 148A of I-T Act

Check the Relied Upon Documents, or RUDs, on the basis of which the assessing officer has started the reassessment proceedings

Tax department move to tax goodwill could expand in the next Budget

While the new tax is not retrospective in nature, it will impact foreign companies buying into Indian companies going ahead

Faceless assessment: Taxpayers seek redress from courts over thorny issues

Experts says that the system is a mixed bag of experiences for the taxpayer, but agree that it largely circumvents the principle of natural justice

HC notice to Centre on petition challenging faceless income tax assessment

The court restrained the tax department from recovering additional demand and posted the matter to November 11

Senior citizens above 75 years can avoid filing ITR from next year

Instead, they will just have to make a declaration in Form 12BBA to their bank, which will deduct TDS

Govt approaches 17 companies to settle retrospective tax cases

The rules under the Taxation Laws (Amendment) Act, 2021, are expected this week

Good sense, finally

Govt wasted nine years in trying to defend the indefensible retro tax

Top headlines: Govt buries retro tax; Cipla Q1 net profit rises 24%

Business Standard brings you the top headlines on Thursday

Experts welcome govt's move to bury retro tax, but with riders

They, however, say are not sure if the lack of interest and costs payable by govt will satisfy all litigants

Haven't been issued Form 16? Here is how you can still file your tax return

The last date for issuing Form 16 extended till July 31

Tips on handling tax matters and digital assets of a deceased person

Legal heirs must file tax returns for income earned in the year the dead passed away

Govt allows cash payment of over Rs 2 lakh for Covid treatment at hospitals

The Income Tax Department on Friday issued a notification allowing hospitals and nursing homes to accept cash payments of Rs 2 lakh and more for the treatment of coronavirus infected patients

A quick and simple guide on tax compliance ahead of the March 31 deadline

Apart from tax planning, you need to make sure you've paid your advance tax correctly and linked your Aadhaar to your PAN