It has been communicated by various taxpayers and professionals that the Income Tax Portal is charging a late fee u/s 234F in spite of the extension announcement dated 31st December 2020.
Continue Reading »The Central Government has notified that the dealers in precious metals and precious stones will be referred to as "persons carrying on designated businesses or professions".
Continue Reading »CBDT releases Direct Tax Statistics Constant growth in direct tax-GDP ratio over last three yearsGrowth of more than 80% in the number of returns filed in the last four financial yearsNumber of persons filing return of income has also increased by ab
Continue Reading »Tax Structure Needs to be Simplified to Help the Taxpayers Becoming Tax Compliant Rather than Tax Evaders: Ms Nirmala Sitharaman, Minister of State for Finance Ms. Nirmala Sitharaman, Minister of State for Finance said that tax structure needs to be
Continue Reading »As a Taxpayer friendly initiative, a facility to view details of Arrear Demand of taxpayers as communicated by their Jurisdictional Assessing Officers (A.O.) to the Central Processing Centre (CPC) is now enabled on the e-filing website i.e.https:/
Continue Reading »Taxpayer's Lounge – the stall set up by Income Tax Department at India International Trade Fair 2011 – receives the First Prize in the category Government Departments
Continue Reading »RBI/2011-12/152 DPSS (CO) EPPD No./274/04.03.01/2011-12 August 12, 2011 The Chairman and Managing Director / Chief Executive Officer of member banks participating in RTGS / NEFT Madam / Dear Sir, Discretion to customers for selection be
Continue Reading »IT Initiatives: New Simplified form ‘Sugam’ to be introduced for small tax Payers - Steps initiated to Reduce tax Related Litigation The Union Budget 2011-12 has laid a special emphasis on reducing the compliance burden of small tax pa
Continue Reading »Identity and address of a certain percetange of PAN applications will beverified by visiting the PAN applicants. Hence, an authorized third party agency may visit the PAN applicant to verify the identity and address provided in the PAN application -
Continue Reading »Authorities have looked at different aspects to decide on the taxability of remittance made Author : Sandeep Ladda & Kapil Sirsalewal/DNAThe opening of the Indian economy has witnessed an exponential growth in investment by foreign companie
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