Page 68 of Income tax News: Income tax Latest News, Income tax Today news, Income tax Breaking News

senior citizens, Income tax benefits, ITR Filing, TDS, exemption limit, Bank FD

Income tax and other benefits that senior citizens can avail on their investments

From a higher income tax exemption limit to a higher deductible limit on health insurance premium to a higher TDS…

March 3, 2022 18:42 IST

Women’s Day 2022: Husband invested money in your name? Here’s how income earned will be taxed

Tax on income from investment made in wife’s name: Tax rules state that any investment made by husband in wife’s…

Updated: March 3, 2022 09:53 IST

Your Queries – Income Tax: Pay tax on sale proceeds of farm land if it qualifies as capital asset

For I-T purposes, immovable property is classified as long-term capital asset if held for more than 24 months else the…

March 2, 2022 01:00 IST

Income Tax Saving Tips for FY 2022-23: Five uncommon ways you can explore this year

Income Tax Saving 2022: If planned properly, salaried persons can a lot of money through various avenues available for tax…

Updated: March 1, 2022 15:34 IST

investment, death of investor, transmission of investment money, fixed-return investments, FD, SCSS, life insurance, NSC, PPF, equity shares, mutual fund, MF

What should a nominee do after the death of an investor? How is investment money taxed?

After the demise of an investor, the family members can benefit from the investments, once the accumulated amount is transferred…

Updated: March 3, 2022 17:11 IST

pharmaceutical, income tax, IT deduction, freebies, doctors, sales, Supreme Court, SC, Apex Laboratories Pvt. Ltd

Pharma cos can’t claim IT deduction on freebies to doctors to promote sales of medicines prohibited by law: SC

The top court termed it as a “matter of great public importance and concern” the manipulation of doctors’ prescriptions in…

February 23, 2022 11:57 IST

Drug firms can’t claim tax benefit for freebies given to doctors: Supreme Court

The Bench also pointed out medical practitioners have a quasi-fiduciary relationship with their patients.

February 23, 2022 01:01 IST

While filing ITR one must disclose income from all sources, irrespective of the amount.

Your Queries: Income Tax | Income earned from gift to wife is clubbed in husband’s income

You may declare your income from pension and capital gains in ITR 2, disclosing sale consideration, cost of acquisition and…

February 23, 2022 01:00 IST

Income Tax Calculation FY 2022-23: Salaried employee? Here’s how every component of your CTC will be taxed

Salaried Employees CTC Income Tax Calculation: Take a look at tax rules for reimbursement, conveyance, variable pay, bonus, DA, Gratuity,…

February 19, 2022 14:48 IST

In its order, Sebi says, “Hence, there appears to be a glaring conspiracy of a money making scheme that involves Noticee No. 1 (Ramakrishna) and No. 6 (Subramanian) with the unknown person, by which Noticee No. 1 would increase the compensation granted to Noticee No. 6 and Noticee No. 6 would then pay the unknown person from such increased compensation.”

‘Financial misdeeds’: Former CEO of NSE Chitra Ramakrishna, aide caught in I-T dragnet

Sources familiar with the developments in New Delhi said the raids will continue on Friday.

February 18, 2022 04:45 IST

With the ITD unable to recover over 97.5% of the total arrears demanded, it is obvious that pending litigation is untenable.

Tax travails: Reduce untenable tax litigation

The income tax department should target to complete all pending appeals within the next one year and release the inappropriately…

February 17, 2022 05:00 IST

Two ends of spectrum: Tax windfall gains to address inequality

Include unrealised capital gains in taxable income. If the purpose is to tax large windfall gains, then the size of…

February 16, 2022 03:45 IST

Your Queries: Loans | Both home loan & top-up home loan eligible for tax sops within overall limits

Once availed in the base home loan, the same cannot be again availed for the top-up home loan.

February 16, 2022 02:00 IST

Tax talk: Clarity needed on TDS for products given for free to social media influencers

The tax department has consistently sought to disallow expenses incurred by a taxpayer towards gifts provided to business associates.

February 16, 2022 01:45 IST

FY22 collections: Net tax receipts may exceed revised estimate by Rs 80,000 crore

Corporate firms pay their final advance tax of 25% of full-year tax liability by March 15.

February 15, 2022 04:15 IST

Mistakes people make while making tax-saving investments

Tax is an important matter – be it making tax-saving investments, depositing tax payable on time or timely filing of…

February 12, 2022 23:03 IST

Income Tax Return: Taxpayers can update ITRs only once in an assessment year, says official

CBDT Chairman J B Mohapatra said the intent of this provision is to help people who have genuinely missed out…

February 9, 2022 17:32 IST

Around 6.17 crore ITRs, 19 lakh audit reports filed on new I-T portal, says CBDT

The government had in January extended till March 15 the deadline for corporates to file income tax returns for the…

February 7, 2022 18:23 IST

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