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ITR consists of a form that a person every year submits to the income tax department mentioning the income of the individual and the tax amount subjected to pay towards the government. Related to a specific year that is beginning from 1st April and finishes on 31st March every year. The income could be posted […]
The income tax department has provided the rules for the selection of income tax returns for complete scrutiny in the present financial year and mentioned these investigations shall be subjected in the matters where the information of the tax theft is available from any other council. Latest Update in Returns Scrutiny CBDT (Central Board of […]
The Bombay high court (HC) ruled that a salary slip that mentions a standard deduction of the professional tax was enough proof of an employee salary slip if there is no income certificate given by the heads. state governments and Union territories impose the professional tax on all the salary-earning people and are restrained to […]
The Central Board of Direct Taxes reported the e-Dispute Resolution scheme, 2022 to settle tax disputes. Abhishek Murali, president of, the All India Tax Payers Association (AITPA), tells you about the scheme. What is the Requirement for the Amended Tax Dispute Resolution Policy? The income tax laws would constantly get updated over a period of […]
A new form for filing updated IT returns has been announced by the Income Tax Department. In this form, taxpayers should provide the reason for filing and the portion of income to be allowed for taxation purposes. ITR-U is the new form and taxpayers can use it to file updated income tax returns for the […]
Some of the passive incomes are said to be the income from Youtube, blogging, money from sharing video apps, and others. The same is essential to note the tax treatment from both the income tax and the GST point of view in India. The taxability of GST on YouTube and blogging income-earning shall be discussed […]
The income tax portal 2.0 is a user-friendly model of the original website. The same has the advantageous upgrades concerned to the ITR filing and the management. The process is smoother to manage and the platform furnished various levels of services related to tax in the new version. The effective specification of the e-portal comprises: […]
The Employees’ Provident Fund Organisation (EPFO) had given the guidelines on imposing the tax deducted at source (TDS) on the earned interest via EPF account in which the contribution is more than Rs 2.5 lakh in the financial year. As per the circular issued on April 6, The TDS deduction would start from April 1. […]
As the technology has come around with the most of the income tax (IT) departments’ communication addressed to the taxpayer is provided to his or her enrolled email. The Delhi High court in Venad properties Pvt ltd. vs. Commissioner of Income Tax (2013) 212 Taxman 20, ruled that the object and the intention of the […]
