Page 30 - Tax

ITR 2021-22: Using the Demat account to verify your income tax return

Once the ITR 2021-22 is filed, the taxpayer needs to verify their return within 120 days, or it is deemed invalid

ITR 2021-22: Important documents required while filing income tax return

The income tax department (I-T department) has fixed the deadline as July 31, 2022. If the ITR is not filed before the due date, the taxpayer may be subjected to monetary or criminal punishment

ITR 2021-22: Penalties you may have to pay if you miss July 31 deadline

If the income is above Rs 2.5 lakh per annum, you are required to file the ITR to avoid penalties. There are several penalties that are applicable if one fails to file the ITR before the last date

Talk of socialism adds spice to abrasive UK leaders' debate in race for PM

Rishi Sunak accused Foreign Secretary Liz Truss and former Defence Secretary Penny Mordaunt, his two closest rivals, of "socialism" as he attacked their plans to cut taxes and borrow more

New GST rates come in effect from today: Check the rate change list here

While the GST council proposed to withdraw tax exemptions for a few items and rate changes for others, exemptions for many others were removed

GST rate hike comes in effect from Monday: Here's what will get costlier

From next week, many household items, hotels, and bank services among other things will get costlier

ITR 2021-22: These high-value transactions must be declared in your return

Such transactions attract special attention from the income tax (I-T) department and are mandatory to be furnished. If not, they may lead to fines, penalties or even jail term

Focus on windfall tax review leads to oil stocks ending in the green

Export taxes on petrol are likely to see the steepest reduction, while levies on diesel and jet fuel could also be lowered to adjust the impact of price declines

As deadline approaches, here's how to file I-T return of a deceased person

Failure in filing the ITR of a deceased person makes the heir liable to pay the penalty or fines. It may also lead to some penal consequences

Trading dries up on Indian crypto exchanges as new transaction tax kicks in

Warnings from Indian crypto exchanges that a controversial new transaction tax would erode trading are coming true, with volumes evaporating since the levy took effect.

Brokerages remain bullish on Reliance Industries despite windfall tax

Reliance Industries shares gained as much as Rs 32.9, or 1.4 per cent intraday, on the BSE on Monday, before finally closing trade at Rs 2,413.95 apiece

New Mauritius tax norms to hit PE investments in India, says IVCA

The move to tax capital gains from India would fundamentally alter the character of all income arising from Indian AIFs and lead to increased litigation

Govt raises import duty on gold to 15% from 10.75% to curtail CAD

Last year, the government had cut the tax on gold imports to 7.5% in the Union Budget

Top headlines: 5 years of GST and what lies ahead for the tax reform

In the last five years, since its launch in July 2017, the GST journey has been difficult for both economic and political reasons. Read more on five years of GST in our top headlines

A fast-paced study on India's public finances

In places, Dr Rao rushes through the conclusions as well, not giving enough time to explain the rationale behind the conclusion

Stiff regulations, high taxes: Govt controls electronic sports joystick

India is a fast-growing high-potential gaming market, but per capita spends still very low

State market borrowings down 23.7% YoY in Q1FY23 on strong cash flows

Icra said a comfortable cash flow position of the state governments was due to a back-ended release of tax devolution to the states in FY2022

HC quashes order on taxing Flipkart payment to Walmart for deputed staff

Court says assessing officer's stand on employer-employee relationship based on a wrong premise

Missed declaring rental to employer? Claim HRA exemption while filing ITR

Keep rent receipts that serve as proof handy should taxmen come calling

5 years of GST: Profiteering charges leave many companies perplexed

No structured guidelines for firms to avoid profiteering; standard method to compute undue profits, say experts