Personal Finance »Taxation
Taxation
  • 10 Jun 15
    04:19 AM
    If you get a notice or a query from the Income-tax (I-T) department, reply to it, even if it seems meaningless. Under the new black money law or Undisclosed Foreign Income and Assets Act, not replying to a query can attract a penalty of Rs 2 lakh.
  • 04 Jun 15
    09:55 AM
    With the introduction and streamlining of electronic clearing services (ECS) by the income tax department, taxpayers have started receiving their refunds within the stipulated 90 days.
  • 01 Jun 15
    10:40 PM
    This year, tax assessees have major relief in store — income tax return (ITR) forms have been reduced from 14 pages to three.
    12:07 AM
    Developers of housing projects with commercial complexes imbedded in them can claim deduction of 100 per cent of profits subject to certain conditions.
  • 27 May 15
    10:02 PM
    If you are an entrepreneur, this anomaly in the service tax rules should worry you. While the threshold amount billed to customers has been put at Rs 10 lakh in a year.
  • 25 May 15
    04:03 AM
    The Finance Act, 2015, has introduced a new concept for determining scope of taxation for foreign companies in India. Until the change, a foreign company was considered as a tax resident if its entire control and management resided in India.
    12:30 AM
    The income tax (I-T) department has decided to focus on tier-II cities like Jaipur, Surat and Lucknow ,among others, to bring more people who reside in these cities under the tax net.
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