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In the last quarter of 2020/21, you can see the method to review your tax savings and take steps if required to sum that additional money. Below section 80G of the income tax, contributions delivered to specified relief funds and charitable institutions can be availed as a deduction. Only the donations which are signed for […]
Due to the Covid-19 Pandemic, back-to-back lock-down were imposed this year and it disrupted people’s travel plans. It means that many people are not able to use their available Leave Travel Allowance (LTA) from their pay structures. In view of the difficult economic environment, and to encourage individuals to use their unclaimed LTA amounts and […]
The Income Tax Appellate Tribunal (ITAT) ruled that no tax is suitable on the shipping income of foreign vessels beneath the India-Singapore Tax Treaty. The taxpayer is the owner of Bengal Tiger Line Pte Ltd. is a citizen of Singapore and associated in the business enterprise of ships in the International world. The freight beneficiary […]
Through Right to Information (RTI) wife have the right to ask the salary of their husband along with the related information said The Central Information Commission (CIC) on Wednesday. CIC has given the major declaration post-hearing the appeal furnished by Rahmat Bano of Jodhpur post IT department ruled that the income of her husbands belongs […]
The tax council will no more provide any privilege to any business unless it is not important. As per the reference in the talks amid the Department for Promotion of Industry and internal trade DPIIT along with the revenue council, the north block has refused the plan to prolong the incorporation cut-off date for startups […]
The government in the next budget under the NPS (National Pension Scheme) tax-free can do 14% of the employer contribution. This waiver can be provided to every subscriber resting in the class. But presently this tax privilege is just for the employees of the central government. The Supratim Bandyopadhyay, chairman of pension fund regulator PFRDA, […]
The revenue council on Monday specified that people are not paying the returns despite they have been founded with turnover in crores and declares that for the honest assessees while also stating that there will be no major amendment in the reporting of GST turnover data in Form 26AS. There is no more load on […]
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 […]
From time to time, the government has been making changes to avoid evasion of taxes and according to a recent update, the government will soon push the efficiency of the indirect tax system These types of taxes paid on Consumption by the consumer but they do not pay directly to the government (unlike income tax). […]
