Page 96 of Income Tax

VPF is the voluntary contribution by employees towards their provident fund account over and above the 12% contribution towards EPF.

Aall the means of transport, entertainment etc are closed for general public due to the nationwide lockdown imposed to contain…

A huge controversy erupted on Sunday after the report by IRS Official suggesting tax on super-rich to tackle coronavirus crisis…

Among other measures, the report suggests that inheritance tax, which was abolished in 1985, should be brought back as this…

The income of a spouse or child is clubbed together with the income of major earner of the family when…

The last date for saving tax for the financial year 2019-20 is already extended by the government till June 30,…

For example, PPF offers you returns of 7.1% per annum completely tax-free whereas an 8% FD may offer you only…

It is important for taxpayers to understand the impact of the relaxations in income tax compliances announced by the government.

Income Tax Return (ITR) Forms for FY 2019-20: The new forms allow assessees to avail the benefits of various timeline…

The Income Tax refunds would be issued by the tax authorities only after verification and processing of the income tax…

The CBDT has also clarified that the option once availed in the year cannot be modified during the year.

The CBDT today said that it has already issued over 10.2 lakh refunds totalling to around Rs 4,250 crore as…

CBDT clarifies that the option at the time of filing of ITR could be different from the intimation made by…

The Budget this year introduced a new income tax regime under which individuals can opt for lower tax rates provided…

The due dates for issuance of any notice, intimation, notification, approval or sanction order, has also been extended by a…

The clarification came as the employees, in many cases, have donated a portion of their salaries the the fund through…

The deduction under section 80G towards the donation for PM CARES Fund will be indicated in the Form 16 certificate…

The income tax department has issued clarifications relating to the issue of certificates for a lower deduction, collection of TDS,…