Budget 2019 came up with several tax-related amendments and new rules that came into effect on from September 2019. One needs to be aware of these new changes in the rules as it will impact every taxpayer. From tax on cash withdrawals to PAN-Aadhaar interchangeability, many monumental changes were proposed in the Budget 2019.
Sources close to developments have revealed that the task force has recommended five tax brackets of 5 per cent, 10 per cent, 20 per cent, 30 per cent and 35 per cent, against the prevailing structure of 5 per cent, 20 per cent and 30 per cent.
ITR Filing 2019: The last day for filing Income Tax Return (ITR) for the assessment year 2019-20 (the financial year 2018-19) is August 31. To avoid penalties, taxpayers need to ensure to file income tax return before the last day of filing. Only four days are left to file income tax return (ITR) and it is mandatory for taxpayer to file ITR within a pre-determined due date.
July 31 is the last day for filing income tax return. You can file ITR online through income tax's e-filing ITR website. This year, the government has introduced many changes in ITR form. It is important to know the changes before filing ITR to avoid any unwanted penalty later on.
The Finance ministry has broadened the terms of reference (ToR) of the task force, headed by CBDT member Akhilesh Ranjan, to also include faceless and anonymized verification/ scrutiny/ assessment and reduction of compliance burden by simplification of procedures.
Finance Minister Piyush Goyal Monday assured that genuine startups may get a breather from the provisions.
Flipkart had shared share purchase agreement with tax authorities in May, and I-T department is currently calculating the tax rate that would be applicable for investors in Flipkart who are selling the shares to Walmart. Significant shareholders like SoftBank, Naspers, venture fund Accel Partners and eBay, have agreed to sell their shares.
New Delhi: With the Centre submitting a list of 627 account holders in foreign banks to Supreme Court in the blackmoney case, Attorney General Mukul Rohatgi today said that the deadline for investigation under the
New Delhi: People can now deposit up to Rs 1.5 lakh annually in their Public Provident Fund (PPF) with the government notifying changes in the popular savings scheme.The government has issued a notification raising the
Kolkata, Mar 31: Finance Minister Pranab Mukherjee today defended the move to amend the Income Tax Act with retrospective effect following which UK's Vodafone may have to pay Rs 11,000 crore as tax for a
New Delhi, Mar 25: The government today said it has no vindictive intention in retrospectively amending tax laws and has no plans to re-open a large number of old cases, while assuring India Inc that
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