Tax on Accommodation – Lok Sabha QA GOVERNMENT OF INDIAMINISTRY OF FINANCEDEPARTMENT OF REVENUE LOK SABHAUNSTARRED QUESTION NO. 3607ANSWERED ON – 08/08/2022 “TAX ON ACCOMMODATION” SHRIMATI SANGEETA KUMARI SINGH DEO:“Will the Minister of FINANCE be pleased to state: (a) whether no perquisite on accommodation is added to the salary of employees for the purpose of … [Read more...] about Tax on Accommodation – Lok Sabha QA
Income Tax
Aadhaar-PAN linking: FAQs of upgraded Link Aadhaar service after payment of fee as per CBDT
Aadhaar-PAN linking: FAQs of upgraded Link Aadhaar service after payment of fee as per CBDT Circular No 7/2022. Who needs to link Aadhaar and PAN? Section 139AA of the Income Tax Act provides that every person who has been allotted a permanent account number (PAN) as on the 1st day of July, 2017, and who is eligible to obtain an Aadhaar number, shall intimate his Aadhaar … [Read more...] about Aadhaar-PAN linking: FAQs of upgraded Link Aadhaar service after payment of fee as per CBDT
Income-tax (Eleventh Amendment) Rules, 2022
Income-tax (Eleventh Amendment) Rules, 2022 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 29th April, 2022 G.S.R. 325(E).—In exercise of the powers conferred by sub-section (8A) of section 139 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the … [Read more...] about Income-tax (Eleventh Amendment) Rules, 2022
Income Tax payable on the contribution in a PF account exceeding Rs. 5 lakh per annum
TA-3-07001/7/2021-TA-III-Part (1)/cs-8084/81Ministry of FinanceDepartment of ExpenditureO/o Controller General of Accounts,GPO Complex, E-Block, INA New Delhi. Dated: 04.03.2022 OFFICE MEMORANDUM Subject: Income Tax payable on the contribution in a PF account exceeding Rs. 5 lakh per annum w.e.f financial year 2021-22-reg. Reference is invited to Department of … [Read more...] about Income Tax payable on the contribution in a PF account exceeding Rs. 5 lakh per annum
Taxpayers can file updated Income Tax return within two years
Taxpayers can file updated Income Tax return within two years TAX RELIEF TO PERSONS WITH DISABILITYTAX DEDUCTION LIMIT ON EMPLOYER’S CONTRIBUTION TO NPS ACCOUNT OF STATE GOVERNMENT EMPLOYEES INCREASED TO 14% FROM 10%INCOME FROM VIRTUAL DIGITAL ASSETS TRANSACTIONS TO BE TAXED AT 30%NEW STEPS TO AVOID REPEAT LITIGATIONS WITH TAXPAYERS The Government proposes to permit … [Read more...] about Taxpayers can file updated Income Tax return within two years
Income Tax : e-Verification Scheme, 2021
Income Tax : e-Verification Scheme, 2021 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 13th December, 2021 (INCOME-TAX) S.O. 5187(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 135A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following … [Read more...] about Income Tax : e-Verification Scheme, 2021
Provisional Direct Tax collections for the Financial Year 2020-21 show growth of almost 5%
Provisional Direct Tax collections for the Financial Year 2020-21 show growth of almost 5% Net Direct Tax collections represent 104.46% of the Revised Estimates of Rs. 9.05 lakh crore of Direct Taxes for the F.Y. 2020-21 Advance Tax collections for F.Y. 2020-21 stand at Rs. 4.95 lakh crore which shows a growth of approximately 6.7% Net Direct Tax collections for … [Read more...] about Provisional Direct Tax collections for the Financial Year 2020-21 show growth of almost 5%
Clarification in respect of residency under Income-tax Act, 1961
Clarification in respect of residency under Income-tax Act, 1961 The Central Board of Direct taxes (CBDT) has received various representations requesting for relaxation in determination of residential status for previous year 2020-21 from individuals who had come on a visit to India during the previous year 2019-20 and intended to leave India but could not do so due to … [Read more...] about Clarification in respect of residency under Income-tax Act, 1961
Filing of Income Tax Returns – Lok Sabha Q&A
Filing of Income Tax Returns – Lok Sabha Q&A GOVERNMENT OF INDIA MINISTRY OF FINANCE Lok Sabha UNSTARRED QUESTION NO: 928 ANSWERED ON: 08.02.2021 Filing of Income Tax Returns Sanjay(Kaka) Ramchandra Patil Will the Minister of FINANCE be pleased to state:- (a) whether it is true that due to pandemic condition, the Government proposes to give relaxation in … [Read more...] about Filing of Income Tax Returns – Lok Sabha Q&A
Senior citizens above 75 years of age, having pension & interest income exempted from filing tax return
Senior citizens above 75 years of age, having pension & interest income exempted from filing tax return FURTHER PUSH TO AFFORDABLE / RENTAL HOUSING FACELESS DISPUTE RESOLUTION COMMITTEE IN THE OFFING TAX RELAXATIONS FOR ATTRACTING FOREIGN INVESTMENT IN INFRASTRUCTURE SECTOR TAX INCENTIVES ANNOUNCED IN BUDGET FOR START-UPS NUMBER OF RETURN FILLERS INCREASED FROM 3.31 … [Read more...] about Senior citizens above 75 years of age, having pension & interest income exempted from filing tax return