Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Union Finance Minister Nirmala <keyword id="19916494" type="General" weightage="20" keywordseo="Sitharaman" source="keywords">Sitharaman</keyword> on Friday urged officers of the Central Board of Indirect Taxes and Customs (<keyword id="19908147" type="General" weightage="20" keywordseo="CBIC" source="keywords">CBIC</keyword>) to proactively address <keyword id="20283921" type="General" weightage="20" keywordseo="doubts" source="keywords">doubts</keyword> and concerns raised by the public and business community regarding taxes before they escalate into grievances. Speaking at the inauguration of the new <keyword id="22890667" type="General" weightage="20" keywordseo="GST-Bhawan" source="keywords">GST Bhawan</keyword> in Udaipur, Rajasthan, Sitharaman emphasized the importance of a preventive approach in handling tax-related issues. She highlighted that government officials should prioritize solving problems at the stage where they are mere doubts, rather than allowing them to develop into full-blown grievances. "Before addressing a grievance, if we spend time through outreach to clear the doubts and suspicions in their minds, those doubts won't escalate into grievances" said Finance Minister Sitharaman. Sitharaman also highlighted the significance of effective information sharing in this process. She suggested that by engaging in sector-wise outreach and addressing any doubts that arise, officials could prevent potential issues from turning into grievances. "I request that before grievances arise, we should definitely carry out outreach sector by sector. If there are any doubts in their minds after this and some changes need to be made accordingly, we can make those changes as well. So, more than anything else, we need to focus on information sharing" added Sithraman. The Finance Minister's remarks emphasized a shift towards a more communicative and responsive approach in tax administration, aiming to foster better relationships between the government and the business community while minimizing conflicts and misunderstandings. Union Minister Sitharaman is on a two-day visit to Udaipur, On Thursday the minister chaired a meeting to review the performance of nine Regional Rural Banks (RRBs) of the states of Gujarat, Maharashtra, Madhya Pradesh, Chhattisgarh and Rajasthan. The minister asked Regional rural banks (RRBs) to ensure easy credit to Micro, Small and Medium Enterprises (MSMEs). She asked the RRBs to become more customer-friendly and leverage their local connections to further improve performance. "All RRBs have devised customised MSME products aligning with cluster activities. However, they need to regularly review their credit portfolio in that segment", she said. She also highlighted that Sponsor Banks and RRBs must recognise the challenges that lie ahead, especially maintaining asset quality, expanding digital services, and ensuring robust corporate governance are the areas that require continued focus. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/webstories/2024-tvs-jupiter-vs-honda-activa-6g-which-110cc-scooter-should-you-buy/slidelist/112730069.cms">2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</a> <a href="https://www.businessinsider.in/tech/how-to/how-to-add-music-to-instagram-profile/articleshow/112732934.cms">You can now add music to your Instagram profile – here's how</a> <a href="https://www.businessinsider.in/business/auto/news/audi-q8-facelift-launched-in-india-with-a-1-17-crore-price-tag/slidelist/112707701.cms">Audi Q8 facelift launched in India with a ₹1.17 crore price tag</a>

Sitharaman urges tax officials to prevent doubts from escalating into grievances

The government has officially announced October 1, 2024, as the starting date for <keyword id="23245808" type="General" weightage="100" keywordseo="Vivad-Se-Vishwas-2-0" source="keywords">Vivad Se Vishwas 2.0</keyword>, the direct tax dispute resolution scheme. If you're involved in a tax dispute, this scheme might be your chance to resolve it efficiently. Originally introduced during the 2024-25 Union Budget, the scheme is designed to handle <keyword id="22518437" type="General" weightage="20" keywordseo="income-tax-disputes" source="keywords">income tax disputes</keyword> that are currently tied up in appeals. Confirming the news, the <keyword id="19900485" type="General" weightage="20" keywordseo="Finance-Ministry" source="keywords" meta.keywordsubtype="org" meta.entityname="Finance Ministry" meta.hostid="261" meta.entityid="Finance Ministry">finance ministry</keyword> said in its notification: "The central government hereby appoints the 1st day of October, 2024 as the date on which the Direct Tax Vivad Se Vishwas Scheme, 2024 shall come into force." <h2>The scope of the disputes</h2>To give you an idea of the scale, about 2.7 crore direct tax demands are currently being contested, amounting to a staggering Rs 35 lakh crore. These disputes are scattered across various legal forums, and Vivad Se Vishwas 2.0 aims to help clear this backlog. <div type="Article" hostid="261" msid="113444994" title="In the long run, rate cut by Fed will be favourable for most US banks: Moody&amp;#39;s" mstype="2" mssubtype="0"></div>In her Budget speech, <keyword id="19912360" type="General" weightage="20" keywordseo="Finance-Minister-Nirmala-Sitharaman" source="keywords">Finance Minister Nirmala Sitharaman</keyword> highlighted the government’s dedication to simplifying taxes and minimising litigation. She said, "The government will continue its efforts to simplify taxes, improve <keyword id="20404572" type="General" weightage="20" keywordseo="taxpayer-services" source="keywords">taxpayer services</keyword>, provide tax certainty and reduce litigation while enhancing revenues." <h2>Who can avail the scheme?</h2>If you have any pending disputes or appeals, including writs and special leave petitions, whether filed by you or the tax authorities, as of July 22, 2024, you are eligible to take advantage of this scheme. The list of eligible cases includes those pending before the Supreme Court, high courts, Income Tax Appellate Tribunal, and Commissioner/Joint Commissioner (Appeals). It also covers cases before the Dispute Resolution Panel (DRP) and revision petitions awaiting a decision from the Commissioner of Income Tax. <div type="Article" hostid="261" msid="113417255" title="Individuals earning over Rs 10 cr rise by 63% in India; financial assets of high net worth individuals to nearly double by 2028" mstype="2" mssubtype="0"></div>However, the window to decide whether or not to participate in the scheme is limited. As Karishma R. Phatarphekar, Partner at <keyword id="20006170" type="General" weightage="20" keywordseo="Deloitte-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Deloitte India" meta.hostid="261" meta.entityid="Deloitte India">Deloitte India</keyword>, said: "Given the limited time window, an informed decision on opting for the scheme should be made promptly." The rules and forms for the scheme are expected to be published "imminently in the coming week." <h2>Success of the original Vivad Se Vishwas</h2>For those who are wondering about the potential impact, the first Vivad Se Vishwas scheme, introduced in 2020, resolved a significant number of cases. More than 1 lakh taxpayers participated, and the government collected about Rs 75,000 crore in taxes. With this track record, the expectations from Vivad Se Vishwas 2.0 are high. With October 1 just around the corner, now is the time to prepare if you are considering resolving your tax dispute through Vivad Se Vishwas 2.0. As the rules and forms are expected shortly, it’s wise to consult your <keyword id="23245810" type="General" weightage="20" keywordseo="tax-advisor" source="keywords">tax advisor</keyword> and make a decision soon. This scheme could provide the relief you’ve been waiting for while contributing to a more efficient tax system for all. (With inputs from PTI)

New Vivad Se Vishwas 2.0 tax resolution scheme to start on Oct 1 — what you need to know

Gandhinagar: The <keyword id="19895344" type="General" weightage="20" keywordseo="Enforcement-Directorate" source="keywords" meta.keywordsubtype="org" meta.entityname="Enforcement Directorate" meta.hostid="83" meta.entityid="Enforcement Directorate">Enforcement Directorate</keyword> on Thursday conducted multi-city searches in Gujarat in connection with a <keyword id="19899231" type="General" weightage="20" keywordseo="money-laundering" source="keywords">money laundering</keyword> case linked to a GST "fraud" in which eight people, including a journalist, were arrested recently by the state police, official sources said. About 23 premises in cities of Rajkot, Junagadh, Ahmedabad, Bhavnagar and Veraval were being raided by the federal agency after a case was filed under the Prevention of Money Laundering Act (PMLA), the sources said. Premises linked to arrested journalist <keyword id="23517167" type="General" weightage="20" keywordseo="Mahesh-Langa" source="keywords">Mahesh Langa</keyword>, who works with <keyword id="21256671" type="General" weightage="20" keywordseo="The-Hindu" source="keywords" meta.keywordsubtype="org" meta.entityname="The Hindu" meta.hostid="83" meta.entityid="The Hindu">The Hindu</keyword> newspaper, were also being covered. The money laundering case stems from an FIR of the Ahmedabad Police Crime Branch. The city Crime Branch registered the FIR against several persons and entities after getting a complaint from the Central GST over an alleged scam involving shell firms set up to defraud the government through <keyword id="23577822" type="General" weightage="20" keywordseo="bogus-input-tax-credits" source="keywords">bogus input tax credits</keyword> and fraudulent transactions. Langa along with seven others was arrested after the Central GST found some suspicious transactions in bogus firms floated in the name of his wife and father using forged documents. After the registration of the FIR, the Crime Branch and Gujarat's Economic Offences Wing raided 14 locations across the state, including in Ahmedabad, Junagadh, Surat, Kheda and Bhavnagar. According to the Crime Branch, more than 200 fraudulently created firms worked across the country in an organised manner to defraud the government exchequer by availing bogus input tax credits and forged documents and identities were used to create these firms for tax evasion.

ED conducts raids in Gujarat in GST fraud case

An internal committee of the <keyword id="19903456" type="General" weightage="20" keywordseo="Income-Tax-Department" source="keywords" meta.keywordsubtype="org" meta.entityname="Income Tax Department" meta.hostid="153" meta.entityid="Income Tax Department">Income Tax Department</keyword> will review the 1961 <keyword id="22868046" type="General" weightage="20" keywordseo="direct-tax-law" source="keywords">direct tax law</keyword> to eliminate redundant clauses, and adopt best global practices to simplify it for taxpayers for better compliance, <keyword id="19980145" type="General" weightage="20" keywordseo="CBDT" source="keywords">CBDT</keyword> chief Ravi Agrawal has said. The panel, comprising income tax (IT) officials from across the country, has started working on identifying areas of improvement in the Income Tax Act, 1961, he said, and added that the exercise is being conducted under a central government-mandated comprehensive review of the law, which was mentioned by FM Nirmala Sitharaman in the recent <keyword id="19936553" type="General" weightage="20" keywordseo="budget" source="keywords">budget</keyword> presented on July 23rd, 2024. <keyword id="19942037" type="General" weightage="20" keywordseo="Central-Board-of-Direct-Taxes" source="keywords" meta.keywordsubtype="org" meta.entityname="Central Board of Direct Taxes" meta.hostid="153" meta.entityid="Central Board of Direct Taxes">Central Board of Direct Taxes</keyword> (CBDT) chairman Agrawal said the committee is looking at the best global practices that can be adopted, as well as cutting redundancies in the existing law and finding those clauses that have reached their sunset, and hence, can be eliminated. "An internal committee of competent officers of the department from all across the country has been formed. They have started working on identifying areas of improvement. This is a work in progress," he told PTI on Wednesday during an event to mark 165 years of income tax in India. He said the committee is looking at the "problem statement" given to it in the recent Budget. It is trying to find the "best way forward" in giving the country a new direct tax law, Agrawal said. During the event, the CBDT chief assured Union Finance Minister Nirmala Sitharaman that the work of reviewing the Act will be done within the stipulated time-frame of six months, as announced by her in the Budget presented last month. The minister, during the Wednesday event, asked the I-T department to use simple language in its notices and communications with taxpayers, so that they are able to understand these quickly without getting intimidated. Agrawal said this factor is also a part of the I-T law review. The committee is trying to make tax communication simple and easy to understand to encourage compliance of rules by taxpayers, he said. The Income Tax Act, 1961, started its journey in 1922. It contains 298 sections and 23 chapters and other provisions in its current form of 1961. Sitharaman, while presenting the 2024-25 Union Budget, had announced a "comprehensive" review of the Income Tax Act. The purpose is to make the Act concise, lucid, easy to read and understand. This will reduce disputes and litigation, thereby providing tax certainty to the taxpayers. It will also bring down the demand embroiled in litigation. It is proposed to be completed in six months, she had said. Agrawal also said the CBDT will "put more officers" within the next 10-15 days to "expeditiously" clear the "substantial" number of appeals pending at the Income Tax Department level.

CBDT forms committee for IT Act review; 'sunset' clauses to be eliminated

<ul class="summary-list"><li>Donald Trump announced on Tuesday that Elon Musk would co-lead his new government efficiency drive.</li><li>The unofficial Department of Government Efficiency is already verified on X with a gray tick.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/elon-musk">Elon Musk's</a> Department of Government Efficiency is already verified on X as an official government entity, and could be in violation of the platform's rules on verification.President-elect <a target="_blank" class="" href="https://www.businessinsider.com/trump-elon-musk-vivek-ramaswamy-department-government-efficiency-doge-2024-11">Donald Trump announced on Tuesday</a> that Tesla CEO Musk and businessman Vivek Ramaswamy will lead the Department of Government Efficiency, nicknamed DOGE.Trump said the new agency would work to cut regulation and slash spending.The former and future president said Musk and Ramaswamy will "provide advice and guidance from outside of Government."After less than two days, the <a target="_blank" class="" href="https://x.com/DOGE">DOGE account on X</a> has the platform's gray verified checkmark, which is used to identify government or multilateral organization accounts.According to <a target="_blank" class="" href="https://help.x.com/en/rules-and-policies/profile-labels">X's rules on checkmarks</a>, organizations eligible for the gray checkmark are generally reserved for executive office accounts, government agency accounts, and embassy and state-level accounts, as well as accounts held by government officials and heads of state.As DOGE is not an official government department, having the gray checkmark may violate X's rules.Musk used X as a megaphone for his outspoken support of Donald Trump during the election campaign, frequently posting messages of support for the former president and <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-going-all-in-recruit-billionaire-peers-trump-vance-2024-7">using the site to try and win over other Silicon Valley billionaires</a>.After the president-elect confirmed Musk's new role, the Tesla CEO said he planned to <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-leaderboard-government-spending-marketing-genius-doge-donald-trump-2024-11">post a public leaderboard of "the most insanely dumb spending of your tax dollars"</a> and let users weigh in on specific potential cuts.Musk has also hailed Trump's election victory as vindication of his $44 billion purchase of X, then called Twitter, in 2022, repeatedly telling users, <a target="_blank" href="https://x.com/elonmusk/status/1856637767758815323">"You are the media now"</a> in the aftermath of the result.X did not respond to a request for comment from Business Insider sent outside normal working hours.

Elon Musk's DOGE isn't an official department. It has a government checkmark on X.

A combination of policy changes such as <keyword id="6375770" type="General" weightage="20" keywordseo="bankruptcy-law" source="Orion">bankruptcy law</keyword> and taxation code and the enabling environment created by the <keyword id="14972121" type="General" weightage="20" keywordseo="digital-public-infrastructure" source="Orion">digital public infrastructure</keyword> has made India an attractive investment destination for the financial technology sector, a senior <keyword id="69007" type="General" weightage="20" keywordseo="world-economic-forum" source="Orion">World Economic Forum</keyword> (WEF) official said. In a video interview with PTI, Matthew Blake, Head of the Centre for Financial and Monetary Systems at the WEF said India has been one of the best-performing markets in the world and investors have made money here. Blake also struck a word of caution saying that since markets do not move in a purely linear fashion and were prone to "ups and downs", there was a need to educate investors. "So this idea of being an informed <keyword id="6368449" type="General" weightage="20" keywordseo="investor" source="Orion">investor</keyword>, a diversified <keyword id="6368449" type="General" weightage="20" keywordseo="investor" source="Orion">investor</keyword>, and having access to educational resources to do that is really fundamental artificial intelligence (AI)," he said. "I think a combination of different policy choices that have been made make India quite an attractive investment destination. In addition to the <keyword id="14972121" type="General" weightage="20" keywordseo="digital-public-infrastructure" source="Orion">digital public infrastructure</keyword> that creates an enabling environment from a technological standpoint, you also have changes in the <keyword id="6375770" type="General" weightage="20" keywordseo="bankruptcy-law" source="Orion">bankruptcy law</keyword> and taxation code adding clarity," he said. Blake said a survey of fintech CEOs by the WEF and the Cambridge Centre for Alternative Finance had revealed that 70 per cent of the firms considered AI as a major force and could be deployed for personalisation and customisation of products and services. Blake said for sectoral regulators, AI could be helpful in the context of risk management and there was a need for them to adapt to the rapid changes in technology. "The sophistication level of the regulatory authorities will also need to increase commensurate with the business sector and talent. Technology, and technologically savvy talent, will be at a premium. And that's true in the private sector, and that's true in the public sector," he said. Blake said in the Asia-Pacific region, the regulatory agencies were generally viewed as being quite skillful. "When you look globally, obviously there are varying levels of sophistication of markets. This brings an opportunity globally to share best practices and competencies," he said. "One of the things that we're looking at is how do you bring the most sophisticated actors in the financial services space from the private sector together in a knowledge exchange with some of the key supervisory bodies," Blake said. "It is absolutely in the best interests of the business sector that their corresponding regulator understands as closely as they do their activities and the technologies they're using to conduct those activities. So, it is in the mutual best interest to share that information and to try and level set. That is a rather large challenge, but it's something that we as a team are looking at currently and trying to devote some time to," Blake said. The WEF-Cambridge report on 'The Future of Global Fintech: Towards Resilient and Inclusive Growth', released in January, found that the majority of financial technology companies hold a positive view of their regulatory environment, with 63 per cent rating it as adequate. Additionally, 38 per cent of surveyed fintechs cited the regulatory environment as a major supporting factor for their operations and growth.

DPI, bankruptcy law, tax code make India attractive investment destination: WEF official

<ul class="summary-list"><li>The IRS is launching a Direct File tax program, offering free tax filing to residents of 12 states.</li><li>Direct File is a result of President Biden's 2022 Inflation Reduction Act.</li></ul>The Internal Revenue Service and the US Department of the Treasury officially launched their <a target="_blank" href="https://www.businessinsider.com/irs-free-tax-filing-tool-eligible-states-2024-2">Direct File tax program</a> on March 12.<a target="_blank" href="https://directfile.irs.gov/">Direct File</a> — now available in both English and Spanish — has <a target="_blank" href="https://www.businessinsider.com/irs-file-taxes-free-tax-filing-eligibility-pilot-program-irs-2023-10">been piloted in several states</a> and offers Americans a free way to file their taxes. Residents of 12 states are eligible for the program, but there is not yet a clear timeline for expansion.Taxpayers who could see benefits from Direct File include a parent who claims <a target="_blank" href="https://www.businessinsider.com/personal-finance/average-federal-income-tax-payment-by-income">income tax</a> and <a target="_blank" href="https://www.businessinsider.com/biden-budget-proposal-child-tax-credit-social-security-taxing-rich-2024-3">child tax credits</a>, a recent graduate who pays student loan interest, and a retired older person with Social Security income, according to The Treasury Department.With Direct File, taxpayers can file their taxes directly from their smartphone, laptop, or desktop computer. The program can't process complex tax information, such as gig work-based incomes, but the Treasury Department estimates that one-third of all <a target="_blank" href="https://www.businessinsider.com/personal-finance/federal-income-tax-calculator">federal income tax</a> returns could be filed through Direct File, benefiting about 19 million taxpayers this spring.Direct File was developed by the IRS following President Joe Biden's <a target="_blank" href="https://www.businessinsider.com/house-passes-inflation-reduction-act-sending-it-to-biden-2022-8">2022 Inflation Reduction Act</a>. A press release from the Treasury Department said the program aims to "save taxpayers time and money."<h2>Millions of taxpayers in 12 states could benefit from Direct File</h2>Residents of California, Arizona, Florida, Massachusetts, New Hampshire, Nevada, New York, South Dakota, Tennessee, Texas, Washington, and Wyoming are currently eligible.The Direct File program will show taxpayers clear math on the taxes they owe and their expected tax refund. A senior administration official said about 15,000 taxes have been filed with Direct File in eligible states so far.Americans whose primary 2023 paycheck came from <a target="_blank" href="https://www.businessinsider.com/driving-for-uber-lyft-flexibility-gig-work-doordash-stock-earnings-2024-3">gig work</a> or business income, or those who claim the <a target="_blank" class="hawk-link-parsed" href="https://www.kiplinger.com/taxes/602726/savers-credit-a-retirement-tax-break-for-the-middle-class">Saver's Credit</a> or the <a target="_blank" href="https://www.businessinsider.com/personal-finance/what-is-a-tax-credit">Premium Tax Credit</a> do not qualify.As the program expands, the senior administration official said they hope the program can continue to broaden to include more taxpayers and more types of tax returns. Pilot programs — <a target="_blank" href="https://www.businessinsider.com/irs-free-tax-filing-tool-eligible-states-2024-2">which began February 28</a> — have provided valuable feedback, he said."Direct File ensures taxpayers get their full refund by showing them the numbers and explaining credits they are eligible for," Deputy Secretary of the Treasury Wally Adeyemo said in a press statement. "Our priority in launching this new service is to save taxpayers time and money they can spend on themselves and their families."<h2>IRS investment aligns with Biden's economic plan</h2>The average taxpayer will save $160 in filing fees by using Direct File, Deputy Chief of Staff to the President Natalie Quillian said, and many pilot users saved as much as $400. As eligibility is expanded to other states, Americans could save $11 billion annually."It's an example of how our administration is working to make government work better and smarter for the American people and create tools that make working families' lives easier," Quillian said.With increased funding from the Inflation Reduction Act, a senior administration official said the IRS answered 3 million more calls last year and significantly lowered call wait times.<a target="_blank" href="https://www.businessinsider.com/biden-budget-proposal-child-tax-credit-social-security-taxing-rich-2024-3">Biden's latest budget</a> was also announced this week, <a target="_blank" rel="" href="https://www.businessinsider.com/presdient-joe-biden-billionaire-minimum-tax-budget-capital-gains-2023-3">proposing</a> a minimum income tax on billionaires and hiking the corporate tax rate to 28%, and seeks to raise the corporate minimum tax rate. But any proposals to <a target="_blank" href="https://www.businessinsider.com/rich-people-tax-evasion-owe-billions-returns-2023-10">raise taxes on the ultrawealthy</a> are most likely to be opposed by most Republican lawmakers.

The IRS's free tax filing system is officially open. Here's everything you need to know.

The Comptroller and Auditor General (<keyword id="19900713" type="General" weightage="20" keywordseo="CAG" source="keywords">CAG</keyword>) has asked the <keyword id="19900485" type="General" weightage="20" keywordseo="Finance-Ministry" source="keywords" meta.keywordsubtype="org" meta.entityname="Finance Ministry" meta.hostid="153" meta.entityid="Finance Ministry">Finance Ministry</keyword> to identify <keyword id="22837132" type="General" weightage="20" keywordseo="high-risk-taxpayers" source="keywords">high risk taxpayers</keyword> in the <keyword id="20981418" type="General" weightage="100" keywordseo="GST-composition-scheme" source="keywords">GST composition scheme</keyword> on a periodical basis and verify from other sources, including third parties, their declared <keyword id="22837745" type="General" weightage="20" keywordseo="value-of-sales" source="keywords">value of sales</keyword> to check <keyword id="20121097" type="General" weightage="20" keywordseo="tax-evasion" source="keywords">tax evasion</keyword>. Based on an analysis of 8.66 lakh composition taxpayers under the central jurisdiction between 2019-20 to 2021-22 fiscals, the Comptroller and Auditor General (CAG) found that a significant number of <keyword id="19951327" type="General" weightage="20" keywordseo="gst" source="keywords">GST</keyword> taxpayers have a high risk of crossing the <keyword id="22837744" type="General" weightage="20" keywordseo="turnover-threshold" source="keywords">turnover threshold</keyword> for composition levy scheme (CLS). These high risk taxpayers were identified by audit from the data contained in GST returns viz. GSTR-4A, GSTR-7 along with third party data sources such as IT returns, 'Vahan' database etc. The GST composition scheme is available to taxpayers whose aggregate turnover, in the preceding financial year, has not exceeded Rs 1.5 crore. For taxpayers in special category states, this limit is Rs 75 lakh. The CAG said two major risk areas in respect of CLS taxpayers are under-declaration of the 'value of outward supply' by the taxpayers to continue in the scheme; and non-fulfillment of eligibility conditions for availing CLS. The audit also observed that there were certain CLS taxpayers who were continuing in the Scheme despite not fulfilling the eligibility criteria prescribed in the Act and the Rules, and a substantial number of CLS taxpayers were not discharging their obligatory responsibilities of filing returns and payment of tax under reverse charge. "The Ministry should identify high risk taxpayers in the CLS on a periodical basis using a risk-based approach and verify their declared value of outward supply from other sources including third parties to minimize the possibility of misuse by ineligible persons," the CAG said in a report tabled in Parliament recently. The official auditor also suggested that the Finance Ministry may develop a system of identifying ineligible taxpayers and take action to exclude them from the CLS in order to prevent misuse of the intended benefits of the scheme.

Finance Ministry should identify high risk taxpayers in GST composition scheme: CAG

<ul class="summary-list"><li>The biggest money managers on Wall Street are shedding billions in stocks for this one tax strategy.</li><li>Tax-loss harvesting allows investors to offset capital gains taxes by selling securities at a loss.</li></ul>It's officially stock-selling season, according to Bank of America.Institutional investors usually increase their selling activity towards the end of the year, and this year was no exception. Bank of America's clients alone sold $1.3 billion in US equities last week. The bank reported that institutional selling activity was 80% higher this October than the historical average.What's the reason behind these elevated levels of security selling? The answer is <a target="_blank" class="" href="https://www.businessinsider.com/tax-savings-strategy-offset-gains-income-loss-harvesting-morgan-stanley-2024-10">tax-loss harvesting</a>.Tax-loss harvesting has long been a strategy of Wall Street and the wealthy to reduce their tax bills. They do this by selling underperforming investments for a loss to offset capital gains taxes on other investments sold at a profit. As a result, taxes are only paid on the net profit.You can replicate this strategy in your own portfolio, too. Below are some tips and tricks on how to use it to reduce your taxes, according to Jere Doyle, estate planning strategist at BNY Wealth.<h2 id="68a94438-775f-431a-954e-0e5b2d8dcb75">How tax-loss harvesting works</h2>Investors might look to rebalance some portfolio positions as the end of the year approaches. For example, after this year's incredible runup in tech stocks, some investors might be looking to sell their positions to realize their gains and diversify their holdings.That's where tax-loss harvesting comes in. If you're selling Nvidia stock with a $10,000 gain, you can pair that with a sale of another asset with a $10,000 loss to avoid paying capital gains taxes.You can also front-load your losses, according to Doyle. If you sell one asset at a $10,000 gain and another at a $15,000 loss, you can use up to $3,000 of the loss to offset other ordinary income — and carry forward the remaining $2,000 to subsequent years.Tax-loss harvesting can be especially advantageous in today's environment, according to Doyle.The market has been experiencing heightened volatility from factors such as mega-cap earnings and the election.This environment creates big winners and losers, giving investors plenty of opportunity to recognize losses. Investors shouldn't be scared of pullbacks in a volatile market. Instead, take advantage of price dips in the market to sell losing securities and lower your tax bill.<h2 id="c83964ce-4da2-4126-a044-a3769347944b">Tax-loss harvesting tips and tricks</h2>There are a few things to consider before using a tax-loss harvesting strategy.First, investors should be aware of the wash-sale rule. The wash-sale rule states that if you sell a security at a loss and buy the same or "substantially identical" security in a 30-day timeframe before or after the sale, you cannot use the loss for income tax purposes.Sometimes, people forget about this rule. "They made the mistake of repurchasing those same assets within that 61-day period, and they lose the deductibility of loss," Doyle said.If you want to sell a security at a loss but still want exposure to a specific area of the market, you can use the proceeds of the sale to purchase a similar, but not substantially identical, asset. However, the IRS hasn't provided a clear definition of what constitutes a substantially identical asset, so investors should approach this with caution. Or, you could double down on the asset more than 30 days before selling at a loss.Another piece of advice Doyle: try to match your gains and losses.It might be tempting to record a larger loss than gain to carry it over in subsequent years, but it might not be worth taking the loss if you don't plan to use it for tax-harvesting purposes in the near future."Given the time value of money, those long-term capital gain losses lose their value over a period of time," Doyle said. A $2,000 loss today will be worth less carried over many years in the future — in that case, it would be more advantageous to just record the loss in the future. In other words, don't incur excessive losses today just to be able to use them in the future.Lastly, Doyle recommends thinking through this strategy carefully to make sure it's a good fit for your current portfolio."From an investment point of view, it may not make sense. Maybe the securities you have at a loss are going to bounce back later on. Maybe the securities you're selling at a gain have future appreciation left," Doyle said.Investors should keep in mind that tax-loss harvesting isn't a one-size-fits-all strategy — but if you do have gains and the losses to offset them, the end of the tax year might be a good time to think about implementing this plan.

Bank of America's clients are selling stocks 80% more than normal to use this strategy that allows you to avoid capital gains taxes on big returns

Today is the last day to file your <keyword id="19948101" type="General" weightage="20" keywordseo="income-tax-returns" source="keywords">income tax returns</keyword> for <keyword id="21169488" type="General" weightage="20" keywordseo="AY-2024-25" source="keywords">AY 2024-25</keyword>, without having to pay a <keyword id="19899183" type="General" weightage="20" keywordseo="penalty" source="keywords">penalty</keyword>. Starting tomorrow, you will be able to file your <keyword id="19897621" type="General" weightage="20" keywordseo="itr" source="keywords">ITR</keyword>, but you'd have to forego several benefits, like not being able to choose the old tax regime, or paying a penalty of Rs 1,000 (if your annual taxable income is less than Rs 5,00,000). As per official data, about 6 crore ITRs have already been filed so far, and around 70% of them have opted for the new tax regime. But if you have left your ITR filing to the <keyword id="22611090" type="General" weightage="20" keywordseo="last-minute" source="keywords">last minute</keyword>, and will rush to meet the deadline today, here's a handy list of mistakes you should avoid while filing your ITR: 1. Do not miss out on reporting on your income from other sources. Generally, we only account for our salary, income from business/profession and capital gains (if any) while calculating our tax liability. However, there is one crucial segment we tend to forget-income from other sources. This includes interest income from your savings account, fixed deposits, recurring deposits and bonds. 2. Income from other sources also includes any dividend income you've received throughout the year through stocks, mutual funds, and any monetary gifts with value of over Rs 50,000 you've received from friends, acquaintances, or anyone but your relatives. Don't forget to account for those as well. <div type="Article" hostid="261" msid="111406215" title="Wondering which ITR form is right for you? Know all about it here" mstype="2" mssubtype="0"></div> 3. In case your total annual income exceeds Rs 50,00,000, you have to disclose all details of your properties, both movable and immovable under <keyword id="22611091" type="General" weightage="20" keywordseo="schedule-al" source="keywords">Schedule AL</keyword>. This should also include any liabilities you have incurred on these assets. 4. If you are an NRI, or an Indian holding foreign assets, you will have to share details of all your foreign income, assets, accounts and stocks under <keyword id="22334040" type="General" weightage="20" keywordseo="schedule-fa" source="keywords">Schedule FA</keyword>, along with your ITR. This needs to be done, irrespective of whether your income is taxable in India or not. 5. If you are filing your ITR as per your AIS (<keyword id="20776896" type="General" weightage="20" keywordseo="annual-information-statement" source="keywords">Annual Information Statement</keyword>) and see erroneous entries, don't ignore them. File your ITR as per Form 26AS, which is a condensed version of AIS, and Form 16A and B, which is provided by your employer (both previous and current). But remember to go back and flag errors in AIS, otherwise the IT department could penalise you for willful misreporting of your income. <div type="Article" hostid="261" msid="111402608" title="ITR filing: Documents you need to file your income tax return" mstype="2" mssubtype="0"></div> 6. Do not forget to e-verify your ITR within 30 days of filing it. If you do not do this, your ITR filing will be considered invalid. If 30 days have passed since you filed your ITR post today, it will be seen as filing ITR post deadline, and you'll have to pay a fine. So, get going on your ITR filing, right away!

Filing your ITR at the last minute? Don't make these mistakes

<ul class="summary-list"><li>Former President Donald Trump proposed ending Social Security taxes for older adults.</li><li>Experts warn the policy could increase the deficit by $1.6 trillion, depleting Social Security and Medicare.</li></ul>America's older adults could see tax cuts under a new <a target="_blank" class="" href="https://www.businessinsider.com/category/donald-trump">Trump</a> Administration — but the policy risks shrinking Social Security funds sooner than expected.In a Wednesday interview with <a target="_blank" class="" href="https://www.foxnews.com/video/6360004194112?spark_wn=1#_intcmp=fnvpl_playlist_5_Trump_reacts_to_Kamala_Harris_tapping_Tim_Walz_as_running_mate:_'I_can't_believe_it'">Fox &amp; Friends</a>, the Republican presidential nominee said he plans to eliminate <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/investing/what-is-social-security">Social Security</a> taxes for older adults. The taxes currently apply to all individuals with a household income above $25,000. This group pays income tax <a target="_blank" href="https://www-origin.ssa.gov/benefits/retirement/planner/taxes.html">on 50%</a> of their benefits, and people with a higher income are often taxed more.Trump's proposed change aims to help older adults living on a fixed income by ending the income tax on their monthly checks."We can do a lot of things to help the people," Trump told Fox &amp; Friends. "People on Social Security are being killed, and one of the things I'm doing is no tax for seniors on Social Security, and I'll get it done quickly."Trump had previously pitched his plan to eliminate taxes on Social Security, <a target="_blank" href="https://truthsocial.com/@realDonaldTrump/posts/112881452914352595">writing</a> on his social media platform Truth Social on July 31: "SENIORS SHOULD NOT PAY TAX ON SOCIAL SECURITY!"Some experts have criticized the plan. The Tax Foundation's Garrett Watson published a <a target="_blank" class="" href="https://taxfoundation.org/blog/trump-social-security-tax/">blog</a> on August 2 calling the proposal to remove income taxes from Social Security "unsound and fiscally irresponsible," arguing that doing so would increase the deficit by about $1.6 trillion over 10 years and cause the Social Security and Medicare trust funds to dry out quicker.According to the latest Social Security and Medicare Trustees report, the program will be able to <a target="_blank" class="" href="https://www.businessinsider.com/when-will-social-security-benefits-run-out-retirement-crisis-boomers-2024-5">pay out full benefits for 11 more years</a>, after which they will shrink if Congress doesn't act. The average monthly Social Security check in 2024 is about $1,780 a month, and some boomers rely on Medicare as their only source of health insurance.Business Insider has heard from boomers <a target="_blank" class="" href="https://www.businessinsider.com/social-security-no-savings-snap-benefits-debt-boomers-experiences-2024-6">without retirement savings</a>, many of whom are falling behind on bills or forgoing retirement entirely. According to the Census Bureau's Population Survey, over half of older adults in the US have an annual income of <a target="_blank" href="https://www.businessinsider.com/social-security-no-savings-snap-benefits-debt-boomers-experiences-2024-6">$30,000 or less</a>.While tax breaks might help in the short term, boomers are scared their Social Security benefits could be significantly cut in the next decade. With Trump's proposed policy, it's a risk."It scares us to death because we'll still be here, God-willing," a boomer in Illinois <a target="_blank" href="https://www.businessinsider.com/boomer-couple-lives-social-security-snap-no-retirement-savings-2024-6">previously told BI.</a> "How are we to survive?"<h2 id="bc6245e7-eca1-4e8f-ab0a-679752174266">Trump has vowed not to cut Social Security</h2>Trump has previously taken a strong position on Social Security — at times conflicting with members of his own party who have faced criticism from Democrats for calling for Social Security cuts. For example, Trump <a target="_blank" href="https://www.businessinsider.com/trump-gop-leave-medicare-social-security-cuts-from-debt-ceiling-2023-1">said</a> in January 2023 that "under no circumstances should Republicans vote to cut a single penny from Medicare or Social Security.""Cut waste, fraud and abuse everywhere that we can find it and there is plenty, there's plenty of it," he said in a video message. "But do not cut the benefits our seniors worked for and paid for their entire lives. Save Social Security, don't destroy it."Additionally, Trump's platform that was adopted by the Republican National Committee <a target="_blank" href="https://www.businessinsider.com/trump-platform-social-security-medicare-retirement-age-end-inflation-2024-7">vowed to preserve Social Security</a> and Medicare benefits while ensuring there would be no cuts or changes to the retirement age. Older adults can start collecting Social Security at age 62 right now, and the official retirement age is typically 67, though it varies slightly by birth year.Even with Trump's pledge to protect retirees' benefits, Democratic lawmakers have continued to criticize the GOP and some of their proposals to change the program by raising the retirement age."As long as I am President, I will keep strengthening Social Security and Medicare and protecting them from Republicans' attempts to cut benefits Americans have earned," Biden said in a May <a target="_blank" href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/05/06/statement-from-president-joe-biden-on-the-social-security-and-medicare-trustees-reports/#:~:text=As%20long%20as%20I%20am,cut%20benefits%20Americans%20have%20earned.">statement</a>.Vice President and Democratic nominee <a target="_blank" class="" href="https://www.businessinsider.com/biden-expanding-obamacare-without-congress-health-coverage-2022-4">Kamala Harris</a> has not yet released a policy outline on Social Security, but she is expected to continue Biden's work to expand Social Security benefits, as well as protect Medicare and the <a target="_blank" class="" href="https://www.businessinsider.com/biden-expanding-obamacare-without-congress-health-coverage-2022-4">Affordable Care Act</a>.

Trump wants to cut Social Security taxes for seniors. It's not as good as it sounds.

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Welcome back! Mondays are probably the best day to start eating healthier. (Can't start a diet on a Friday.) And whatever your goals are, protein will play a key role. A nutrition coach breaks down <a target="_blank" href="https://www.businessinsider.com/easy-calculate-how-much-protein-coach-olympians-2024-9">how to figure out how much you need</a>.In today's big story, the stock market has officially enjoyed a bull rally for over two years. <a target="_blank" href="https://www.businessinsider.com/stock-market-outlook-bull-rally-anniversary-earnings-interest-rates-sp500-2024-10">So now what</a>?What's on deck:<ul><li>Markets: Jamie Dimon's retirement <a target="_blank" href="https://www.businessinsider.com/jamie-dimon-political-ambitions-retirement-plans-jpmorgan-3q-earnings-2024-10">doesn't mean his exit from JPMorgan</a>.</li><li>Tech: Roblox investors are <a target="_blank" href="https://www.businessinsider.com/roblox-stock-recovers-after-short-seller-hinderberg-report-2024-10">shrugging off a short-seller's report</a>.</li><li>Business: It's the first day of work for Nike's new CEO. <a target="_blank" rel="noopener" href="https://www.businessinsider.com/nike-ceo-elliott-hill-takes-over-faces-challenges-2024-10">Here's what's at stake</a>.</li></ul>But first, time flies when you're making money.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="7fa5f018-5b05-4a37-a8dc-d3f89138bcb3">The big story</h3><h2 id="5fd547b9-ec52-41fc-8e08-4f4b27dd8097">Bullish on the bull market</h2><div type="image" title="Wall Street bull statue" height="4024" width="6048" msid="114217361" hostid="261" sizebytes="1697474"></div>Happy belated birthday to the stock market's bull rally!In case you missed it, Saturday marked two years since stocks bottomed out before going on a run. The Nasdaq 100 (88%), S&amp;P 500 (62%), and the Dow Jones Industrial Average (46%) have posted strong returns in the two years since.But don't worry about missing the celebration, because the party might be going on for a while. Stock market experts who spoke with Business Insider's Matthew Fox <a target="_blank" href="https://www.businessinsider.com/stock-market-outlook-bull-rally-anniversary-earnings-interest-rates-sp500-2024-10">don't see things slowing down anytime soon</a>.In fact, the average bull market lasts longer than five years, so we might not even be halfway to the finish line. There's no consensus on exactly how the next few years will shape up, but the experts agree they don't see a market downturn in the near future.Earnings season, which is in full swing this week, will provide more color on where things are headed. <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-q3-earnings-preview-investors-themes-ai-interest-rates-2024-10">Expectations are high</a>, and for good reason. The S&amp;P 500 has enjoyed year-over-year earnings growth for four consecutive quarters.<div type="image" title="inflation dollar hovers over groceries" height="893" width="1786" msid="114217363" hostid="261" sizebytes="43390"></div>So, what's the case for the bull rally to continue?Past performance does not guarantee future results, so bull runs' history of sticking around doesn't mean this one will.But the first thing to consider is this bull market's resiliency.The past two years have seen multiple banks fail, a bond-market meltdown, and the unwinding of a trade tied to the Japanese yen that sent stocks tumbling. Interest rates also remained elevated as the economy battled high inflation.Beyond the financial markets, things haven't been much calmer. The war in Ukraine rages on, and there's arguably more violence in the Middle East than there has been in decades.Meanwhile, the run-up to the presidential election has been unprecedented. The sitting president shockingly ended his reelection campaign, and another candidate faced multiple assassination attempts.So yes, we've been through a lot, and stocks keep going up and to the right.While I can't guarantee things will calm down, there are some bright spots. There might not be more rate cuts this year, but the job market is strong and inflation is (mostly) under control. Whether we're in a soft landing or a "no landing," both situations are better than a recession, <a target="_blank" href="https://www.businessinsider.com/inflation-recession-outlook-prediction-labor-market-job-additions-interest-rates-2024-10">which seems unlikely at this point</a>.The actual stock market is healthier, too, as it's no longer reliant on the Magnificent Seven's performance. Instead, it's enjoying growth across different sectors, which gives it more immunity from industry-specific shocks.<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li>SpaceX's Starship <a target="_blank" href="https://www.businessinsider.com/spacex-starship-fifth-flight-test-how-to-watch-2024-10">completes historic 5th flight test</a>.</li><li>'Let chaos reign': <a target="_blank" href="https://www.businessinsider.com/new-players-startups-ai-inference-driving-prices-down-cheap-workload-2024-10">AI computing costs are about to plummet</a>.</li><li>The professor made porn. <a target="_blank" href="https://www.businessinsider.com/professor-porn-fired-salacious-free-speech-academic-freedom-2024-10">His firing may shape the future of free speech</a>.</li><li>Elon Musk says <a target="_blank" rel="noopener" href="https://www.businessinsider.com/elon-musk-spacex-launches-california-coastal-commission-2024-10">he will take legal action</a> after California officials cited his politics when rejecting SpaceX launches.</li><li>How Saudi Arabia could create <a target="_blank" href="https://www.businessinsider.com/russia-economy-saudi-arabia-oil-price-war-supply-opec-cuts-2024-10">a crisis for Russia's economy</a>.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="Photo of Jamie Dimon" height="500" width="1000" msid="114217365" hostid="261" sizebytes="20910"></div><ol><li>You can't get rid of Jamie Dimon that easily. The JPMorgan CEO has hinted at plans to step down in the not-so-distant future. But during the bank's earnings call, he also said there is an "almost nil" chance of him joining the next presidential administration as he plans to stay at JPMorgan "for a long period." <a target="_blank" href="https://www.businessinsider.com/jamie-dimon-political-ambitions-retirement-plans-jpmorgan-3q-earnings-2024-10">Here's how both things can be true</a>.</li><li>Ken Griffin knows who he's voting for, and he's not happy about it. The billionaire hedge fund manager and Republican megadonor hasn't supported either presidential candidate. The Citadel CEO said he knows who he is voting for, but "<a target="_blank" href="https://www.businessinsider.com/citadel-ken-griffin-election-taxes-florida-2024-10">it's not with a smile on my face</a>."</li><li>BlackRock wants to make alt investments not so alternative. The $11.5 trillion asset manager <a target="_blank" href="https://www.businessinsider.com/blackrocks-next-big-bet-private-markets-2024-10">hopes to grow its private markets business</a>, which includes less liquid, more expensive investments with the potential for higher returns. It comes after securing $221 billion in net inflows last quarter, a company record.</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="Augustus Doricko sits in a desk with a huge American flag on the back wall." height="3739" width="4985" msid="114217359" hostid="261" sizebytes="612242"></div><ol><li>The 24-year-old wunderkind trying to make water out of thin air. With his new company, cloud-seeding startup Rainmaker, <a target="_blank" href="http://businessinsider.com/rainmaker-augustus-doricko-cloud-seeding-el-segundo-2024-10">Augustus Doricko has launched a God-fearing, cigarette-loving tech hub</a> in El Segundo, California. "Respect to Zuck, but I certainly hope the next cohort of people that build great things do it in the real world," Doricko told BI.</li><li>Roblox took an L and bounced back. The gaming platform's stock tumbled after a prominent short-seller accused it of inflating user numbers and failing to protect children from predators. Investors appear undeterred; after the drop, <a target="_blank" href="https://www.businessinsider.com/roblox-stock-recovers-after-short-seller-hinderberg-report-2024-10">Roblox's stock rebounded</a>, with Wall Street focused on its growth potential.</li><li>Twelve AI coding startups to watch. AI coding startups are having a moment as VCs look to invest in tools that automate the boring parts of coding and let developers focus on more creative tasks. <a target="_blank" href="https://www.businessinsider.com/ai-code-startups-that-have-raised-the-most-vcs-a16z-2024-10">These 12 startups have attracted funding</a> from VCs like a16z and Menlo Ventures.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="Photo illustration of expensive Erewhon groceries, receipt, shopping cart, and payment system" height="1000" width="2000" msid="114217368" hostid="261" sizebytes="117578"></div><ol><li>I've been a very brave Gen Zer. I'd like a treat. Inflation's got nothing on Gen Z's love of bougie snacks: Young people splurge on expensive groceries more than any other generation. The reason? <a target="_blank" href="https://www.businessinsider.com/gen-z-loves-expensive-groceries-snacks-erewhon-whole-foods-2024-10">Consuming health-conscious food is a show of economic power</a> — and everything else is too expensive.</li><li>Office vacancy may deliver some housing relief. The office sector will experience a wave of distress in coming years, real estate experts told BI. That might be good news for housing supply <a target="_blank" href="https://www.businessinsider.com/commercial-real-estate-office-outlook-fire-sales-apartment-conversions-housing-2024-10">as former offices get converted to apartments</a>.</li><li>It's Elliott Hill's first day as Nike's CEO. Can he just do it? Nike released its first-quarter fiscal 2025 earnings report on October 1, and revenue declined 10% from the previous year to $11.6 billion. Now, it's up to Hill <a target="_blank" rel="noopener" href="https://www.businessinsider.com/nike-ceo-elliott-hill-takes-over-faces-challenges-2024-10">to lead a full-scale comeback for the brand</a>.</li></ol><h2 id="1ad7b482-3f4b-44b4-81b6-a864aa386478">In other news</h2><ul><li>How rich Americans can save on taxes by <a target="_blank" href="https://www.businessinsider.com/upstream-planning-transfers-capital-gains-tax-stock-real-estate-2024-10">giving stock and real estate to their parents</a>.</li><li>Tesla investors don't seem to trust Elon Musk like they used to. <a target="_blank" rel="noopener" href="https://www.businessinsider.com/elon-musk-tesla-twitter-wall-street-disappointment-self-driving-taxi-2024-10">Is that because of Twitter</a>?</li><li>Here's how natural disasters are shaping the buy-versus-rent decision <a target="_blank" href="https://www.businessinsider.com/hurricane-milton-natural-disasters-buy-rent-florida-climate-change-risks-2024-10">in vulnerable states like Florida</a>.</li><li>Warren Buffett's company website looks like a relic from the 1990s — <a target="_blank" href="https://www.businessinsider.com/warren-buffett-berkshire-hathaway-website-homepage-culture-values-billionaires-links-2024-10">but that's on purpose</a>.</li></ul><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>It's Columbus Day in the US. In some states, like New York, it's a day to celebrate Italian American culture and history.</li><li>It's also Indigenous People's Day, which some states recognize instead of, or in addition to, Columbus Day. Thirty-five states and the District of Columbia mark this holiday.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Milan Sehmbi, fellow, in London. Amanda Yen, fellow, in New York.

You Searched For "tax officials" and got 12 results

Sitharaman urges tax officials to prevent doubts from escalating into grievances

ANI

New Vivad Se Vishwas 2.0 tax resolution scheme to start on Oct 1 — what you need to know

BI India Bureau

ED conducts raids in Gujarat in GST fraud case

PTI

CBDT forms committee for IT Act review; 'sunset' clauses to be eliminated

PTI

Elon Musk's DOGE isn't an official department. It has a government checkmark on X.

Tom Carter

DPI, bankruptcy law, tax code make India attractive investment destination: WEF official

PTI

The IRS's free tax filing system is officially open. Here's everything you need to know.

Allie Kelly

Finance Ministry should identify high risk taxpayers in GST composition scheme: CAG

PTI

Bank of America's clients are selling stocks 80% more than normal to use this strategy that allows you to avoid capital gains taxes on big returns

Christine Ji

Filing your ITR at the last minute? Don't make these mistakes

Ira Alok Puranik

Trump wants to cut Social Security taxes for seniors. It's not as good as it sounds.

Allie Kelly,Ayelet Sheffey

The stock market has officially enjoyed a bull rally for over two years. So now what?

Dan DeFrancesco

Popular Keywords

Buying Guides