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Income Tax
Indian Income Tax Rates | India Tax rates | High taxation in India
1% TDS On Online Shopping Starts From October 1st: Will Amazon, Flipkart Users Get Impacted?
TDS of 1% will be levied on all payments made to e-commerce participant/sellers/retailers by e-comm operators (Amazon, Flipkart, etc), under the Section 194-0 from October 1, 2020.
With the number of vendors enrolling themselves with!-->!-->!-->…
Pay 83% Income Tax On ‘Unexplained’ Cash In Bank A/c; Jewellery; How To Avoid Penalty?
You will be charged higher income tax, as a penalty of either not adding unexplained cash/valuable(s) in your tax filings or if you are unable to explain the source and reason of such an entry to the IT officers.
We have covered a!-->!-->!-->…
Very Soon, You Can Pay Income Tax Via UPI, Mobile Wallets, Credit/Debit Card!
Very Soon, You Pay Income Tax Via UPI, Mobile Wallets, Credit/Debit Card!
Income Tax Department and Govt of India is collaborating to make the process of paying income tax easier, and seamless.
Ushering a new wave of reforms for!-->!-->!-->!-->!-->…
New Tax Slabs Soon: 10% For Income B/W Rs 5 Lakh & Rs 10 Lakh; 35% For The Super-Rich Indians!
New Tax Slabs Soon: 10% For Income B/W Rs 5 Lakh & Rs 10 Lakh
A high-level tax force set up by the government submitted a report to the Finance Ministry on new Direct Tax Code, earlier this month. This report brings in radical!-->!-->!-->…
Parle Threatens To Fire 10,000 Employees Over High GST, Slow Demand; Asks Govt. To Intervene
Parle can fire 10,000 employees
I am sure we have all grown up eating the Parle G biscuits, at
least once in our childhood days. Once
known as Parle Gluco, the Mumbai headquartered company’s biscuits
was renamed as Parle-G and became!-->!-->!-->…
Govt. Is Planning To Reduce Your Take-Home Salary; Major Labour Reforms Planned!
The basic income will have to go up and allowances such as house rent, travel, medical etc will have to be capped at 50% of the overall take-home salary.
Income Tax Dept. Will Reward You Upto Rs 5 Crore – This Is How You Can Earn It!
Income Tax Dept. runs an 'Income Tax Informants Reward Scheme' for those, who wish to inform them about tax evaders and information about black money stashed abroad. Now, this scheme has been revamped and redesigned with some big rewards,…
Salaried Employees Can Be Punished For Incorrect Tax Returns – IT Dept.
In a terse, crude and direct notification for all salaried employees, Income Tax Dept. has threatened salaried employees of severe punishment, if they file incorrect tax returns. At the same time, as reported earlier, there are many tax…
IT Refund Scam Revealed; Employees From Big Companies Fooled Income Tax Dept!
A major Income Tax refund scam to the tune of Rs 18 crore has been unearthed, in which thousands of employees from reputed IT firms claimed tax rebates via illegal means. These employees used the tax rebate under ‘Loss to House Property'…
Woah! IT Dept Will Now Dig Your Facebook, Instagram Posts To Gain Income Data!
Be very careful on what you put on Social Media sites because Income Tax Department will now go through your Facebook, Instagram and other posts to find out your income based on what you post.
GST Being Exploited? 77% Of Consumers Paid GST On MRP; Retailers Forcing Consumers To Pay Double…
Consumers rights are being blatantly violated, and exploited by retailers in India, under the new GST regime. Thousands of consumers have lodged protests, stating that some retailers are charging GST on the Maximum Retail Price (MRP) of…
8 Indirect Taxes That Are Not Covered Under GST!
The four-day-old GST Nation might be struggling with the new taxes and rules, but here are a few things that you need to know.
The Prime Minister may have announced the ‘One Nation One Tax’ propaganda, but there are still a number of…
Reliance Jio Launches JioGST App; Offers JioFi & 12 Month Data Free!
Mukesh Ambani-led Reliance Jio has launched JioGST, which is mobile first GST starter kit for small businesses in order to manage their GST related filings.
Priced at Rs 1,999, this starter kit from Jio contains software and hardware…
7 Major GST Myths Busted; Here Is How Indian Companies Are Faring On Day #3 Of GST Regime
GST regime is now live across India, and as expected, there are loads of confusion and myths related to the new tax structure across India.
Sensing the need and understanding the confusion ensuing all around, Revenue Secretary…
GST Update: Companies Given 2 Months Extra Time To File Returns Under GST!
Govt. of India has refused to delay the implementation of GST, and July 1st has been declared as the official date for GST rollout pan India.
However, GST Council has understood that some firms may not be ready for GST as of now and…
Now Link PAN With Aadhaar With A Simple SMS; But Does It Work?
Income Tax Department has now made the linking of your PAN Card with Aadhaar even more simpler. Now, all it takes is just an SMS to link it.
Here is how you can do it right away:
Step 1: Send an SMS to either 567678 or 56161 from…
Service Tax Will Increase To 18% Under GST; But Exempted For Those Earning Below Rs 20 Lakh/Yr
As per latest information coming out related to implementation of GST regime, it is now clear that service tax is all set to increase under the new tax structure.
As per statements issued by Revenue Secretary Hasmukh Adhia, we have…
Rent Receipts Without Evidence No Longer Valid To Save Tax Under HRA; Salaried Employees In A Fix?
Since ages, salaried employees have been using one time-tested and reliable method to save tax: House rent paid under House Rent Allowance. But no longer now.
In a crackdown on this ‘formula’ to save tax, Income Tax dept. Will now no…
GST Regime: 4 Crucial Bills Passed in Lok Sabha; FM Says Some Commodities May Become Cheaper!
After 7 hours of intense debate, Lok Sabha finally passed 4 crucial GST bills, which means that July 1st rollout of GST regime across India is now almost confirmed. The GST Bills approved by the Lok Sabha now needs state level…
8 Major Income Tax Changes That Would Be Live From April 1st!
Last week, Lok Sabha finally passed the Finance Bill 2017, which incorporates provisions declared under the Union Budget. One of the most important changes mentioned under this new Bill is making Aadhaar as a mandatory requirement for…