Section 6 of the Income-tax Act, 1961 (the Act) contains provisions relating to residency of a person. The status of an individual as to whether he is resident in India or a non-resident or not ordinarily resident, is dependent, inter-alia, on the period for which the person is in India during a year. Various representations…
In order to enable income taxpayers to avail full benefits of various timeline extensions granted by the Government of India due to Covid-19 pandemic situations, the CBDT is revising the return forms for FY 2019-20 (Assessment Year 2020-21) which shall be notified by the end of this month. CBDT today said that in order to facilitate taxpayer to…
Finance Minister announced several relief measures relating to Income Tax, GST/Indirect Tax, Financial Affairs, Corporate Affairs, Statutory and Regulatory compliance matters across Sectors in view of COVID-19 outbreak
If you find an omission or a wrong statement in the original ITR, make a correction by filing a revised income tax return in the e-filing portal
From linking PAN with Aadhaar to booking LTCG up to Rs 1 lakh on equity investments, there are some financial tasks you should complete within this deadline.
Frequently Asked Questions and Answers on Taxation of Salary Income by Income Tax Department
Income Tax functionalities under EIS have been developed at Employee Login for online submission of saving details for Income Tax Estimation/Calculation
Exemption from Income Tax-Service Element and Disability Element of Disability Pension granted to disabled personnel of Armed Forces who have been invalided out on account of Disability attributable – PCDA Circular
Income-Tax (5th Amendment) Rules, 2020 – Rule 114AAA: Manner of making permanent account number (PAN) inoperative – Central Board of Direct Taxes
Pension fund regulator PFRDA proposed the Central Government to increase the income tax exemption limit under the NPS from existing Rs 50,000 to Rs 1,00,000
National Pension System (NPS) at the time of retirement, you can withdraw up to 60% of the corpus, which is fully tax-exempt
Clarification on Enrollment of Overseas Citizen of India (OCI) in National Pension System (NPS) at par with Non-Resident Indians (NRI) – PFRDA