You Searched For "Income Tax Act" and got 20 results
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1 min read
Provisions of TDS/TCS, in case of death of deductee or collectee relaxed by govt
On April 23, 2024, CBDT extended the date for linking of PAN and Aadhaar May for the taxpayers (for…
ANI
2 mins read
ITR Filing: Today is the last day to file your income tax returns, so file today to avoid penalties
You will have to pay a penalty of Rs. 1,000 if your total annual taxable income is below Rs 5,00,0…
2 mins read
Continue 45-day MSME payment rule: Industry body to Finance Minister Nirmala Sitharaman
According to Section 43B(h) of the Income Tax Act, introduced through the Finance Act 2023, if a la…
PTI
1 min read
Govt may relax 45-day payment rule for MSMEs in Budget 2024
According to Section 43B(h) of the Income Tax Act, introduced through the Finance Act 2023, if a la…
PTI
1 min read
GST Council likely to levy 18% tax rate on corporate guarantees for loans
The GST Council is likely to introduce an 18 per cent tax rate on corporate guarantees extended by …
4 mins read
Home loan tax deductions: Self-occupied vs rented, the differences
Buying a home is undoubtedly one of the biggest financial commitments in one’s life. And since it i…
1 min read
Central Board of Direct Taxes notifies cost inflation index for 2023-24
The cost inflation index (CII) for 2023-24 relevant to assessment year 2024-25 stood at 348, accord…
5 mins read
Presumptive taxation: The scheme that eases burden on small businesses
Running a small business or a professional service can often involve a single person or a few peopl…
2 mins read
Double whammy: Start-ups might have to pay more tax if valuation falls
If reports are to be believed, the government is planning to levy tax on those start-ups whose valu…
1 min read
No LPG subsidy if you earn more than Rs 10 lakhs p.a.
The government had earlier successfully implemented the PAHAL scheme, which transferred cooking gas…
1 min read
E-filing date of income returns and audit reports of some taxpayers extended to 31st October
"While some High Courts have ruled in favour of the extension of due date, some others have ruled o…
1 min read
Respite for black money holders as SIT approves compound offences
He further added, "It (the facility of compounding) would be extended on a case-by-case basis for t…
3 mins read
Budget 2015: Here’s why Govt needs to promote pension and annuity
“One of the important customer needs which drives savings behaviour is Retirement planning. This be…
2 mins read
Section 79 of the Income Tax Act needs a rethink in the digital age: Snapdeal-PwC report
Restriction on carry forward should be relaxed and tax losses should be set off under section 79 of…
1 min read
Nokia May Seek International Arbitration To Resolve Multi-billion-dollar Tax Row In India
It has now asked for negotiations under Article 9(2) of BIT to settle the tax disputes involving it…
2 mins read
CBDT forms committee for IT Act review; 'sunset' clauses to be eliminated
Central Board of Direct Taxes (CBDT) chairman Agrawal said the committee is looking at the best glo…
PTI
1 min read
After outrage, Govt clarifies: tax clearance certificate only for people with tax dues, high-value defaulters
As per section 230 of the Income-tax Act, 1961, every person is not required to obtain a tax cleara…
PTI
1 min read
First draft of new and simplified Income Tax law to be prepared by internal tax dept committee: Revenue Secretary
The exercise is not linked to bringing a new direct taxes code, but a comprehensive review of the i…
PTI
1 min read
Sitharaman announces cut in customs duty on gold, silver to 6%
The reduction in basic customs duty of gold, silver and platinum has been a long pending demand…
PTI
1 min read
Govt to abolish angel tax on investments in startups
The removal of the angel tax is expected to be a boost for startups as it will help in promot…