Are you unable to understand why you have still not received your Income Tax Refund?? Even after filing your Income Tax Return on time!! Don’t worry… There are some common mistakes that you might have been doing till now…but no more!! As per the Income Tax Department, mistake that majority of the taxpayers do is… Continue reading Where is my Refund?
Another burn in the pockets of Taxpayers as the Government proposes 2% Skill Cess. Months after the much debatable Swatch Bharat Cess, the Government has now come up with 2% Skill Cess on the individual and corporates to develop entrepreneurship and employment skills in the youth of the country. This is in line with Government’s… Continue reading Skill Development Cess
The Associated Chambers of Commerce of India (ASSOCHAM) in its pre-budget recommendation to the Finance Ministry has given various suggestions to be incorporated in the upcoming budget with the aim of making it easier for the women to join the workforce. “While we are confident about a positive multiplier effect of the leaving more money… Continue reading Assocham appeals for a women centric budget!
The online filing of the returns has made the process easy and fast. But still a litlle bit of manual step lies at the end. So to make the life of taxpayers more easier, Income Tax Department has introduced the concept of EVC to e-verify the returns. With this you dont have to send the… Continue reading NO MORE SENDING OF ITR’S TO CPC, VERIFICATION WITH EVC INTRODUCED..!
The Government has surprised our countrymen on this new year.But this has come as a rude shock for our decent taxpayer’s.Cause of their hackles being their beloved LPG subsidy. According to the press release by Ministry of Petroleum and Natural Gas all the well-to-do households will no longer be eligible to LPG Subsidy from January.This will specifically… Continue reading Income Based LPG Subsidy distribution from 2016
New Year will see grant of more than ever exemptions to win the war of making India skilled. Under the domain of Skill India Mission, Government is gearing up to grant Income tax exemption to Skill Training Institutions coupled with service tax exemptions for the next five years in the upcoming Union Budget 2016-17. As… Continue reading Government is all set to take Skill Development Programme one step forward!!
The due date for deposit of TDS by buyers of property has been extended from 7 days to 30 days by CBDT. As per section 194IA, buyers of property have to deduct 1% TDS when paying the sale consideration to the seller, if the amount of such consideration exceeds Rs. 50 lacs. Previously, TDS… Continue reading Due Date for TDS Deposit on Sale of Property has been Extended.
Income arising from the transfer of unlisted shares will now only be taxable under the head “Capital Gain” in order to maintain consistency and uniformity across all such transactions. Earlier, it used to be a matter of confusion for both the taxpayers and the Income Tax Department so as to whether to treat it… Continue reading CBDT Gives a Direction on Taxability of Unlisted Shares