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Income tax

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Why should our MPs enjoy twin I-T exemptions when they are out of TDS regime?

Jul 06, 2015

Why should our MPs enjoy twin I-T exemptions when they are out of TDS regime?

The Lok Sabha Secretariat at last did a bit of soul searching and said since the parliamentarians arent employees, their salary would be taxable as income from other sources. #Economy #HowThisWorks #Lok Sabha #Salary #Pension #Income tax #MPs #Personal finance #Parliamentarians #Income Tax act
Filing income tax returns? Make sure you don't make these silly mistakes

Jul 02, 2015

Filing income tax returns? Make sure you don't make these silly mistakes

Here's a list of few errors you might make inadvertently. Read on, so you won't make the same. #Income tax #returns #Forms
Income tax returns: Here's a handy chart to find out which form you need to fill

Jun 29, 2015

Income tax returns: Here's a handy chart to find out which form you need to fill

Handy printable chart to know which form you need to fill while filing your Income Tax Returns #Tax #Income #Income Tax returns #New Forms
Refund please: Telangana govt claims RBI illegally sent Rs 1,274 cr to I-T dept

Jun 27, 2015

Refund please: Telangana govt claims RBI illegally sent Rs 1,274 cr to I-T dept

A state government delegation led by Minister for Panchayat Raj and Information Technology, K. Tarakarama Rao met Union Finance Minister Arun Jaitley in Delhi on Saturday. #RBI #NewsTracker #Telangana #Income tax
Dear Jaitley, choke off cash to eliminate the root cause of black money

Jun 26, 2015

Dear Jaitley, choke off cash to eliminate the root cause of black money

The short point is if the RBI reduces the cash sloshing around in the economy pro tanto black money generation would also come to a screeching halt. #Economy #Black money #P. Chidambaram #RBI #InMyOpinion #Arun Jaitley #Wal-Mart #Income tax #GST #VAT #4G #Jan Dhan Yojana #Food Lion
Here's how Income Tax Act encourages people to speculate in real estate

Jun 26, 2015

Here's how Income Tax Act encourages people to speculate in real estate

One of the well kept secrets of the Income Tax Act is that it encourages people to speculate in real estate. #HowThisWorks #Tax #Income tax #Home loan #Personal finance #Real estate
Explainer: How new income tax returns forms will simplify your tax life

Jun 25, 2015

Explainer: How new income tax returns forms will simplify your tax life

For approximately 80 percent of these filers, ITR-2A would be more relevant and user friendly #ConnectTheDots #Income Tax returns #ITR-V #ITR-2A #ITR-1 #ITR-2
Simplified income tax returns forms notified: Deadline for filing 31 Aug, Aadhaar number mandatory

Jun 24, 2015

Simplified income tax returns forms notified: Deadline for filing 31 Aug, Aadhaar number mandatory

The new ITRs have replaced the 14-page form that were notified earlier this year, triggering a major controversy with individuals, industrialists and MPs saying tax filing would become cumbersome as those forms had sought details including foreign trips and bank accounts details. #Economy #finance ministry #Aadhaar #PolicyWatch #Income tax #Aadhaar scheme
All I-T refunds to be put directly in bank accounts: CBDT

Jun 23, 2015

All I-T refunds to be put directly in bank accounts: CBDT

The department is also planning to fully adopt and use banking services to end the current system of sending I-T refunds over the value of Rs 50,000 via cheques through the postal department. #Income Tax Department #CBDT #Anita Kapur #PolicyWatch
Coming soon: 'Smart database' that stores all financial transactions to catch tax evaders

Jun 17, 2015

Coming soon: 'Smart database' that stores all financial transactions to catch tax evaders

The database is expected to immensely improve "mining" of data as it will include all financial transactions of individuals and entities. #India #Tax evasion #TheySaidIt #CBDT #Income tax