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There are some special income tax benefits that have been provided to Senior Citizens in India. These special Income Tax benefits include tax exemption on certain incomes for more income for selected expenses considering its limited income-earning ability and high medical expenses. By staying up-to-date with the knowledge of all these benefits, senior citizens will […]
If the assessee will not submit the audit report along with the income tax return then tax deduction and the advantages like investment associated deduction will not be given, said the Delhi Tax Tribunal. There are various investment-associated deductions which are concerned with an agreement through several conditions given by the Income Tax law Get […]
Furnishing of income tax returns is important. The income tax is mandatory for the people who have passed away. According to the income tax department of India tax must be furnished for the year in which the individual has died. Various people do not have any idea about this rule. It is another essential thing […]
In the near future, the income tax officials soon have the gesture which permits all assessments to correct their automatic generated financial statement via e-portal independently. For the filing tax services, the department indeed launches the mobile application like tax credit information, effective demands, IT return verifications Get to know about top 6 quick methods […]
The Income Tax Appellate Tribunal (ITAT) Delhi ruled that long-term capital gains tax The Income Tax Appellate Tribunal (ITAT), Jaipur, has ruled that the previous water and electricity bills can not be provided as proof of construction. read more will be not imposed on the Indirect transfer of Indian assets. It came up in a […]
The Central Board of Direct Taxes (CBDT) has said that an income tax survey will be conducted to collect information for scrutiny by Tax Deducted at Source (TDS) directorate only after approval from the Principal Chief Commissioner or the Chief Commissioner level officer. The board by releasing directed the officers that where any survey action […]
On the basis of secret sources, the income tax department All the unaccounted income and not paying up the taxes will not be fruitful from now onwards as the tax department has made it clear that it will be important will initiate a search program and take action for the case of a person who […]
The comptroller and auditor general (CAG) found that the Income-tax department has examined one sample for scrutiny and found that the tax calculated is lower by Rs 44,000 crore. About 3.32 lakh cases have been audited by CAG in the FY 2017-18 and 2018-19. The report states that it shows a lack of seriousness of […]
Sometimes the taxpayer makes some ITR filing mistakes and may also miss some important details to fill in the income tax return form, and this fact has obliged the IT department to come up with a solution. Now taxpayers can make corrections in their ITR filing through the IT department’s E-filing portal within a specified […]
