Powerd By SAG INFOTECH
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In the present election scenario, Government is providing relief to the taxpayers. The government will soon start a first track settlement of cases related to refunds which will provide a great level of comfort and relief to the taxpayers. The hearing on the matter of early settlement of the cases related to income tax appeal […]
A new format for Form 16 has been notified by the CBDT (Central Board of Direct Taxes) which is the ‘salary TDS certificate’. This new format will break the tax-exempt allowances in detail which are paid to the employee and apart from this, the entire tax breaks which are claimed by the taxpayers. Salary TDS […]
The provision under Section 80C and 80D of the Income-tax Act is that specified taxpayers could claim for deductions to the Insurance company on the total amount paid to them for specified insurance schemes.
In the past few days, the Indian government has disclosed the PDF format for all the Income Tax Return (ITR) Forms to bring clarity to the tax filing process. Tax-paying citizens in India must file their returns timely as per the government-issued guidelines. To bring simplicity into the tax filing process, the income tax department […]
The Central Board of Indirect Taxes and Customs (CBIC) has declared that now TCS (Tax Collected at Source) would not be subsumed in the value of goods while calculating the GST (Goods & Service Tax).
Recently the Maharashtra Authority for Advance Ruling (AAR) cleared out that the ITC of GST will not be available to the General Manager and Managing Director of the company in case of any hotel stay without rent.
The Supreme Court on 4 February 2019 has recently issued the notice under which now the taxpayers would be asked to file the income tax returns with linking PAN with Aadhaar mandatorily.
As per the new Rules and latest Directives from the CBIC (Central Board of Indirect Taxes and Customs), the Cars having price range more than Rs 10 lakh could cost more to the Indians due to the extra tax charged as per the new directives and rules from the Government’s end.
Taxpayers are advised to pay their Income tax on or before 31st December as on non-payment of the returns on the stipulated time, would lead to the payment of huge penalty and the penalty amount could be between Rs. 5000 and Rs. 10,000.
