Saving in insurance should not be limited to saving taxes, but consumers should understand that insurance is a safety net that can protect them in planned and unplanned circumstances
Budget 2023: People across industries are expecting changes in the tax regime as the Finance Minister Nirmala Sitharaman would be presenting the upcoming union budget before parliament on February 1.
If a resident's annual total income exceeds the basic exemption limit, an ITR must be filed in accordance with income tax laws.
In the final full budget before the 2024 general elections, the central government may make a few minor adjustments to the new income tax system.
Earlier, former US President Donald Trump said he closed all his bank accounts in China before he began his 2016 campaign for the White House.
Budget 2023: As of now, the maximum slab of income which is exempted from the purview of income tax is Rs 2.5 lakh.
ITR reforms news: Taxation of the digital economy, ensuring developing countries get their fair share of taxes and global coordination for taxation of cryptocurrencies would be one of the priority areas as India is all set to host the leaders of G-20 countries next year.
While Aadhaar is issued by the Unique Identification Authority of India to a resident of India, PAN is a 10-digit alphanumeric number allotted by the IT Department to a person, firm or entity.
The raids carried out by Central agencies often get a political color as TRS keeps claiming that BJP-led Central government uses agencies as a political tool.
Jaimangal had earlier lodged a police complaint saying that three of his party legislators -- Irfan Ansari, Rajesh Kachchap and Naman Bixal Kongari, were planning to topple the UPA government in Jharkhand.
CBDT extends ITR due date: CBDT, the tax administration arm of the government, had extended the deadline for filing audit reports by 7 days last month to October 7.
Income Tax: Under the income tax act, those taxpayers who need to get their accounts audited by a chartered accountant are required to file the tax audit report with the I-T department by September 30.
I-T raids: The department gathered "evidences of out-of-books cash transactions and on-money receipts and several documents and electronic data indicate routing of unaccounted money through shell companies".
These raids are being conducted on the contractors associated with UPICON.
Bihar news: The Station House Officer said the complainant has received the notice against a PAN number issued in his name.
The former minister's comment came after CBI conducted a raid at Delhi Deputy Chief Minister Manish Sisodia's residence on Friday in connection with the alleged scam in the recently withdrawn excise policy of the Aam Aadmi Party government.
Uttar Pradesh news: The search operation was launched on August 3 which covered around 30 premises in Jhansi, Delhi, Lucknow, Kanpur and Goa.
Jalna raids: The raids were conducted between August 1 to August 8 at the residential and official premises linked to business groups dealing in steel, clothing, and real estate.
ITR filing: Those who wish to send the ITR-V in a hard copy can send it through the usual address through "speed post only" to Centralised Processing Centre, Income Tax Department, Bengaluru-560500, Karnataka.
ITR filing deadline: The deadline for filing I-T returns by those taxpayers who do not have to get their accounts audited for the fiscal that ended on March 31, 2022 was Sunday (July 31, 2022).
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