Income-Tax

Pay Double TDS/TCS From July 1, If You Haven't Done This (New Income Tax Rules) For those who haven’t filed Income Tax Returns (ITR) yet, it is high time to do so since if you do it after July 1 then it would attract a higher TDS/TCS…

The Centre passes various notifications in the GST law, which will ease Tax payments for Indian taxpayers. The second wave of coronavirus pandemic has crippled the economy to a great extent, in addition to worsening the health…

Income tax will be charged on UPI transactions and e-wallet payments too. With the volume of transactions via e-payments and UPI gaining exceeding traction, especially during the past few months. Factors like restrictions in terms of…

Taxpayers must heed the following updates as announced in this year's Union Budget As the financial year draws to a close today, so does the deadline for completing important tax related activities. There are some changes to the…

Individual taxpayers can expect a tax savings between Rs 50,000 to Rs 80,000, in the upcoming Budget. Last week, we informed you of there being an expectation of increase in the current Income Tax exemption limit under Section 80C of…

#Budget2021: Big Tax Relief For Work From Home Employees Half the world has resorted to working from the safety of their homes, and the government is expected to announce tax reliefs for such employees. Tax experts have confirmed…

The Income tax exemption under Section 80C under the ITA could be increased from Rs 1.5L to Rs 3L p.a., in the Union Budget 2021. In the country’s first paperless Union Budget to be conducted on February 1, 2021, Finance Minister…

A total of 215 tax evaders arrested by GST Intelligence authorities, recovering over Rs 700 crore in 2 months. A total of 215 people have been arrested under the accounts of tax evasion, by the Directorate General of GST Intelligence…

Government introduces the new Rule 86B in GST Rules, as per which businesses will no longer be allowed to make use of input tax credit for discharging GST liability to 99%. In order to curb tax evasion by faking invoices, the Central…

Pay 5% Tax On Foreign Money Transfer From October 1st; But Tax Exempted For These Transfers As per new developments, there will be a 5% tax any funds conducted to foreign countries. This will be applicable from October 1. Read on to…