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BANGALORE INCOME TAX
Middle class to remain India’s growth engine: FM SitharamanIndia's middle class is identified as the primary driver of the nation's robust economic expansion, fueling consumption and ensuring its st...- Think property makes you rich? These 5 facts tell a different storyAs per a 2017 RBI report, a typical middle-class Indian family puts 70-80% of its net worth into realty. No asset class would be considered...
- Can bonds replace rental income? The ₹40,000 monthly cash flow mathIndian investors traditionally favor rental income for passive earnings, but rising property prices and modest yields are prompting a shift...
- For both the compulsive trader and careful investor: 25 stocks to watch if risk appetite returns; some with upside potential, some notIf the price of crude oil softens, Indian equities may again see a risk-on phase. Tariff concerns are no longer the central issue; the larg...
- 'Bengaluru needs serious traffic planning, not just...': Google techie travels 4 km in 45 minutes, asks 'hamare taxes kahan jaa rahe hain?'A Google employee in Bengaluru highlighted the city's severe traffic woes, taking 45 minutes to travel just 4 kilometers. He questioned whe...
- Rs 40,00,00,000 to retire in India? Dezerv's co-founder's statement leaves internet shocked, netizens call it 'mind boggling'A wealth management co-founder's assertion that Indians need ₹40 crore to retire at 60 if their expenses are up to Rs 2 lakh has sparked de...
- Fruit dealer earns Rs 92 lakh in a year; files no ITR; gets tax notice for unexplained cash credit; he fights back and wins case in ITAT BangaloreA Bengaluru fruit dealer successfully challenged a tax notice for unexplained cash credit. The Income Tax Appellate Tribunal (ITAT) Bangalo...
- Tax exemption was denied due to clerical error in ITR filing; ITAT Bangalore gives relief, says tax dept can’t take advantage of this errorThe Income Tax Appellate Tribunal in Bangalore has thoughtfully ruled that clerical oversights in income tax filings won't forfeit tax exem...
- Petrol pump owner declares Rs 37 lakh income in ITR, gets tax notice for Rs 14 lakh unexplained cash deposit, wins case in ITAT BangaloreA petrol pump owner declared Rs 37 lakh income on Rs 37 crore turnover. He received a tax notice for Rs 14 lakh cash deposit. The ITAT Bang...
- Landowner earns Rs 1.82 crore from mango sales, tax dept issues notice and adds Rs 1.2 crore as unexplained cash credit; ITAT Bangalore gives reliefThe ITAT Bangalore ruled in favor of Mr. Kanana, a landowner, upholding his affidavits and dismissing a tax notice influenced by online art...
- You won’t get any income tax refund unless you verify your ITR; here’s how to verify ITR online, offlineIncome tax return verification: You filed income tax return will be cancelled if you don't verify it within 30 days of filing of ITR. There...
- Income Tax department searches Huawei's Bengaluru, Delhi premisesThe operation comes months after a similar action against its Chinese counterpart ZTE. In the case of Huawei too, the department suspects t...
- Taxmen catch Bengaluru dealers not issuing GST invoices, slap penaltyThe officials also found suppressed turnover of about 21 crore involving taxes of about Rs 3 crore, Commercial Taxes Commissioner MS Srikar...
- K’taka raids: Relief for Ex-Dy CM as nephew bails him outThe income tax department had raided several places linked to Parameshwara on Friday and till early Saturday.
- Bangalore club provides CCTV footage of Avinash Amarlal Kukreja to income tax deptThe search at Bowring Institute was triggered by a complaint from the club management itself. Kukreja is also a member of the 150-year-old ...
- 6 ways to verify your income tax returnAs per the existing tax laws, a return filed by the taxpayer is not valid until it is verified as filed by the concerned assessee.
- Income Tax Department slaps Rs 582 crore tax demand notice on InfosysInfosys is already contesting additional income tax demands of $214 million (about Rs 1,175 crore) for four fiscals years beginning 2005.
- 56% of India's late income tax filers are below 30-years: StudyMost of the income tax filers in the country who delay their tax filing are below 30 years of age, says a study.
- No need to respond to tax notices for below Rs 100The Income Tax Department has asked assessees not to respond to notices of arrears of paltry amounts like Re 1, Rs 4 and Rs 6 as demands of...
- TDS credit and declaration of incomeThe Bangalore income-tax tribunal has held that the credit of tax deduction at source (TDS) under section 199 has nothing to do with the sy...
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