Direct Tax Updates: CBDT has directed the Income-Tax Department to initiate penalty proceedings by June 30 against non-filers and ‘drop filers’ of tax returns. According to the non-filer monitoring system… Read More
Direct Tax Updates: CBDT has notified changes in Form 16, the certificate issued by employers for tax deducted at source (TDS) for salaried employees, seeking disclosure of more details, especially… Read More
Direct Tax Updates: The Income Tax department has revised Form 16 by adding various details, including income from house property and remuneration received from other employers, thereby making it more… Read More
Indirect Tax Updates: India’s recent economic history offers enough evidence to show that tax revenues can be raised even without a rampaging tax bureaucracy or ad-hoc measures such as demonetization. India’s… Read More
Direct Tax Updates: Income tax department, and the collection of data, based on Permanent Account Numbers, the tax authorities have been moving to a system of verification of such information, and… Read More
Direct Tax: Income Tax Department will initiate the recovery of tax along with a penalty from approximately 65,000 assessees who deposited Rs.10 lakh or more in their bank account during… Read More
Direct Tax Updates: The disclosure requirement in the income tax return (ITR) forms have been rising in recent years as the income-tax (I-T) department has been using technology extensively to track… Read More
Direct tax Updates: Income Tax Department has notified the Income Tax Return Form for Individuals and Companies for assessment year 2019-20 (FY 2018-19). The new ITR forms in PDF format… Read More
Corporate and Professional Updates on 6th April 2019 Direct Tax Updates: CBDT has amended Rule 12 of the Income Tax Rules, 1962 w.e.f 1.4.2019 which provides forms and manner of… Read More
Corporate and Professional Updates on 5th April 2019 Income Tax Updates: The Income Tax department has notified I-T return forms for individuals and companies for the assessment year 2019-20. While there… Read More