CBDT revising return forms to enable taxpayers avail benefits of timeline extension due to COVID-19 In order to enable income taxpayers to avail full benefits of various timeline extensions granted by the Government of India due to COVID-19 pandemic … [Read more...]
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All Pending Income Tax Refunds Releases immediately up to 5 Lakh
Income Tax Department to release all pending income tax refunds up to Rs 5 lakhs immediately - Around 14 lakh taxpayers to benefit All GST & CUSTOM refunds also to be released; to provide benefit to around 1 lakh business entities including … [Read more...]
Income Tax Department issued an Advisory on Phishing, Fraudulent Refund E-mail
Income Tax Department issued an Advisory on Phishing, Fraudulent Refund E-mail Taxpayers are requested not to respond to any email or any type of communication sent to them requesting them to furnish their personal particulars such as Bank account … [Read more...]
Tax Benefits to Tourism Industry
Tax Benefits to Tourism Industry The Tourism Industry has requested the Government of India for the following fiscal benefits including tax rebate and relaxations: i. Inclusion of tourism infrastructure like hotels/resorts/tourist lodges/banquet … [Read more...]
CBDT Extended the due date of filing return of income for AY 2015-16 from 31st July 2015 to 31st August 2015
Extension of due date of filing return of income for Assessment Year 2015-16 G.I., Department of Revenue, Central Board of Direct Taxes, O.M.F.No.225/154/2015/TA.II, dated 10.6.2015 Order under Section 119 of the Income-tax Act 1991 Subject- … [Read more...]
Income Tax Rate Chart For AY 2015-16 / FY 2014-15
Income Tax Rate Chart For AY 2015-16 / FY 2014-15 The rates of income-tax as applicable for Assessment Year 2015-16 for the following category is given below:- 1) in the case of every individual below the Age of Sixty Years 2) For a resident … [Read more...]
Central Government is planning to raise the Income Tax exemption slab to Rs. 5 Lakhs
Central Government is planning to raise the Income Tax exemption slab to Rs. 5 Lakhs According to information from the Finance Ministry, the Government is giving serious thoughts about raising the income tax exemption slab from the current Rs. 2 … [Read more...]
General Budget 2014-15: NFIR Presents list of proposals to be considered
General Budget 2014-15: NFIR Presents list of proposals to be considered NFIR has made a list of all the proposals that Central Government employees expect in the 2014-15 General Budget. On the 11th of this month, Mr. Raghavaiah, the General … [Read more...]
Income Tax exemption limit should be raised to Rs 5 Lakh: Arun Jaitley
Income Tax exemption limit should be raised to Rs 5 Lakh: Arun Jaitley Arun Jaitley, one of BJP’s prominent leaders says that raising income tax slab to Rs 5 lakh will benefit more than thirty million people in the country. He also added that direct … [Read more...]
Government deductors get relief from fee u/s 234E for late submission of TDS statement
Government deductors get relief from fee u/s 234E for late submission of TDS statement Due-Date of Filing of TDS/TCS Statements for FY 2012-13 (2nd to 4th Quarter) and FY 2013-14 (1st to 3rd Quarter) Extended upto 31.03.2014 in the Case of Government … [Read more...]