FM may increase I-T slabs in Budget 2017: Here’s how it will reduce your tax outgo

Post the demonetization of the high-value currency notes and the drastic measures taken by the government to promote cashless economy to tackle the evil of black money, the jury is still out whether it had a positive impact on the overall economy.

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FAQ on TDS Refund

FAQ on TDS Refund (Q1.) Can I apply for TDS refund offline? No, deductor cannot apply for refund offline. (Q2.) Form which FY can deductor claim for Refund? Deductor can apply for TDS refund from FY 2007-8 onwards for Form type 24Q,

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CBDT ISSUES CIRCULAR FOR TDS ON SALARY FOR AY 2017-18, dated 02.01.2017 (Circular No. 01/2017)

CBDT ISSUES CIRCULAR FOR TDS ON SALARY FOR AY 2017-18, dated 02.01.2017 (Circular No. 01/2017) Reference is invited to Circular No. 20/2015 dated 02.12.2015 whereby the rates of deduction of income-tax from the payment of income under the head “Salaries” under Section

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Here’s what you need to know about tax saving fixed deposits

If you invest in a tax saving fixed deposit you can claim the amount invested up to Rs 1.5 lakh as a deduction from your income, as per current tax laws. The amount so invested is to be deducted from gross total

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Clarifications on the Direct Tax Dispute Resolution Scheme, 2016

Clarifications on the Direct Tax Dispute Resolution Scheme, 2016 Circular No. 42 of 2016 [ F.No.142/11/2016-TPL] Dated – 23-12-2016 The Direct Tax Dispute Resolution Scheme, 2016 (hereinafter referred to as ‘the Scheme’) incorporated as Chapter X of the Finance Act, 2016 provides an opportunity to tax payers who are

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GOVERNMENT ISSUES UPDATED GUIDANCE NOTE ON FATCA, dated 30.11.2016

GOVERNMENT ISSUES UPDATED GUIDANCE NOTE ON FATCA, dated 30.11.2016 PURPOSE OF THE GUIDANCE NOTE This Guidance Note is for providing guidance to the Financial Institutions, Regulators and officers of the Income Tax Department for ensuring compliance with the reporting requirements provided in

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DISCLOSURE UNDER PM GARIB KALYAN YOJNA VERSUS VOLUNTARY DISCLOSURE UNDER SECTION 115BBE

DISCLOSURE UNDER PM GARIB KALYAN YOJNA VERSUS VOLUNTARY DISCLOSURE UNDER SECTION 115BBE Sr. No. Points of comparison Proposed PMGKY Scheme Proposed on-tap voluntary disclosure scheme u/s 115BBE of Income-tax Act, 1961 1. Duration of Scheme One-Time window – Limited duration. Last date

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Deadline to pay property tax in old currency extended

Deadline to pay property tax in old currency extended Greater Chennai Corporation has extended the deadline for payment of property tax and other charges in old currency notes to December 15. According to a press release, the Chennai Corporation will continue to

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