In a statement, the ministry addressed confusion over the new tax regime, emphasising its lower rates but fewer exemptions and deductions. Finance Minister Nirmala Sitharaman's interim budget assured the preservation of existing tax rates.
The income tax department has uncovered a scam involving the fraudulent use of PANs to claim house rent allowance (HRA) without actual tenancy, with around 8,000–10,000 high-value cases identified.
ITR filing: Fortunately the tax department gives a choice to alter/change the bank and individual subtleties after filing the tax returns, that implies these mistakes can be amended.
AIS enables a taxpayer to see and verify taxpayer info available with taxmen, provide feedback in case of discrepancies, view/update the Taxpayer Information Summary (TIS) used for pre-filling of ITR.
Haryana tax authorities have arrested two Delhi-based persons for fradulently claiming crores in input tax credit on GST. The duo generating fake invoices in order to cheat GST authorities.
The Supreme Court agreed Wednesday to examine the powers of tax authorities to arrest an individual for GST evasion saying that different high courts have taken divergent views on the issue and it was necessary to clarify the position in law.
New Delhi: India will have to renegotiate the tax treaty with Singapore to extend the capital gains tax provisions of the recently-concluded tax pact with Mauritius, Finance Minister Arun Jaitley said on Monday. Without giving
Top News
Latest News
