Proposed TDS levy on e-commerce transactions may impact working capital of businesses: IAMAI chairman
The proposed levy of 1 percent TDS on e-commerce transactions announced in the recent Budget may seem like a harmless 'papercut' but could impact working capital of small businesses, Amit Agarwal, country head of Amazon India and Chairman of industry body IAMAI said on Wednesday
From GST on under-construction flats to income tax rebate, key changes kick in today; all you need to know
The income tax department will give a "straight rebate" of Rs 12,500 to people having an annual income of Rs 5 lakh from the beginning of the financial year 2019-20
Income Tax Return filing: Why the last fortnight of July would strain the ITR server like never before
Things have changed tremendously from the assessment year 2018-19 onwards insofar as the penalty regime for late filing of return is concerned.
Budget 2018: From standard deduction to health and education cess, how Arun Jaitley changed your money life
This standard deduction given in budget was in lieu of exemption in respect of transport allowance and reimbursement of miscellaneous medical expenses
E-commerce companies will not be required to collect 1 percent TCS (Tax Collection at Source) while making payment to suppliers under the Goods and Services Tax (GST) which will be rolled out from 1 July.
The lasting solution to the vexed problem lies in discouraging cash itself by going digital at least for large transactions but that is a long haul
The Income Tax department will send SMS alerts regarding quarterly Tax Deducted at Source (TDS) deductions to around 2.5 crore salaried tax payers through a facility launched here on Monday by Finance Minister Arun Jaitley.
Roughly, 30% of direct taxes collections are through TDS which is almost fool-proof
The IT department had initiated proceedings against airlines in 2011 alleging that the carrier failed to remit the TDS from employees' salaries and other payments with the government.
CAG carried out a study on administration of penalty and prosecution by the Income Tax department between August and December 2012.