tax returns

Crackdown Begins On Crypto Investors In India: Heavy Penalty, 30% Tax & Interest To Be Imposed The Income Tax Department is looking into high-value crypto transactions of 700 investors and could serve them notices for non-payment of…

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…

Not Filing Income Tax Returns? You Will Be Jailed The deadline to issue Form 16 to file an Income Tax Return (ITR) has been extended to 31 July, while the initial deadline was 10 July. Unfortunately, if you plan on filing the ITR by the…

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…

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…

There are strong, unconfirmed reports that in the next Union Budget, Govt. of India may revise the existing Income Tax slabs for individuals. As per insider reports, this announcement can be made before UP Elections, which are most…

For the first in the history of India, Income Tax records of Indians have been made public. Central Board of Direct Taxes and Department of Revenues under Ministry of Finance revealed Income Tax data between 2000-01 to 2014-15 last…

After a lot of criticism in the past two months for the complicated Income Tax mechanism, the Government has rolled out new Income Tax Return forms and Tax filing procedures, this week. The Income Tax Department (ITD) has introduced…

Its not just ecommerce companies which are keenly exploring the mobile landscape in India; Income tax department too is interested to tap this potential. In a historical move, Income Tax Department of India has announced that a…

The NRIs (Non Resident Indians) are having lots of taxation issues especially when it comes to sale or purchase of property, securities, investments settlement, filling of returns, other various compliances etc. So, we will be…