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PAY PENALTY MANDATORILY
Failed to report US stocks gained via ESOP? Use this one-time Amnesty scheme; Know how it worksA one-time amnesty scheme, the FAST-DS, has been introduced to help Indian residents and NRIs resolve past non-compliance with reporting fo...- Sebi sets timeline for brokers to collect marginsIt said if client fails to make pay-in by settlement day and the broker doesn't collect other margins by settlement day, same would result ...
- Sebi comes out with timelines for brokers to collect marginsMarkets regulator Sebi on Monday directed brokers to collect all other margins, except value at risk (VaR) and Extreme Loss Margin (ELM), b...
- Penalty for missing ITR filing last date: Who has to pay and who doesn'tPenalty for late filing ITR: Under the Income-tax Act, 1961, a penalty or a late filing fee is levied when a taxpayer misses the last date ...
- Woman gets 6-month jail for not filing ITR; who has to mandatorily file income tax return, consequences of not filingWho has to file ITR: The decision was made following a complaint from the Income Tax Office (ITO), alleging that Rs. 2 lakh was deducted as...
- How much gold can you buy in cash without and with PAN, Aadhaar proof?Many people are inquiring from jewellers about buying gold from the withdrawn Rs 2000 banknote. However, not many people are aware of how m...
- Has the ITR filing deadline been extended beyond July 31?The last date to file income tax return for AY 2023-24 (FY 2022-23) was July 31, 2023. Despite asking for extension, the government has not...
- PAN-Aadhaar linking deadline expired: Here is what to do if PAN has become inoperativeThe last date to link PAN with Aadhaar expired on June 30, 2023. Any individual who has not linked the both by this date, will have their P...
- ITR filing penalty: These taxpayers don't have to pay late fee for missing deadlineIf an individual missed the deadline to file an income tax return (ITR), then a late filing fee of up to Rs 5,000 is levied. However, there...
- Paying Rent to NRI landlord? Deduct TDS, else pay penaltyAre you paying housing rent to a Non-resident Indian? If yes, then ensure that you are deducting tax before making a rent payment to the NR...
- Penalty you will pay for missing ITR filing deadline and who won't have to payIf you file your income tax return after the expiry of the deadline, then a penalty will be levied of up to Rs 10,000. However, there are e...
- Missed ITR filing? You might pay penalty even if income is below exemption limitThe government via Finance Act 2019 has amended the Income-tax Act whereby it has made it mandatory for certain categories of individuals t...
- Cut TDS from June 1 if paying rent over Rs 50,000 per month: Here's how to do itThe general thinking among people is that this process would just add to the overall complexity in the existing tax structure.
- I-T Act amendment a 'win-win', to boost government revenues: ExpertsUnder the Pradhan Mantri Garib Kalyan Yojana, 2016, black money declarants have to mandatorily park 25 per cent of that wealth in zero-inte...
- No action under FEMA against black money declarants: RBIIndia this year passed a tough rule against so-called "black money"providing a grace period with conditions for those willing to declare th...
- Black money: No compounding of cases falling under new Act, says CBDTThe new Act provides for tax and penalty of 120 per cent and jail term of up to 10 years for holding undisclosed foreign assets.
- Short window to declare overseas assets under black money lawIt provides for a maximum of ten years rigorous imprisonment for offenders, who conceal income and assets and indulge in evasion of foreign...
- One-time short window for declaring assets abroad: Revenue Secretary Shaktikanta DasDas was elaborating upon FM Arun Jaitley's budget proposal to come out with a stringent law to deal with the black money stashed abroad.
- Rs 1 crore fine for demanding capitation fee for admissionIn an effort to curb unfair practices in the higher education segment, the government has doubled the penalty that institutions will have t...
- West Bengal power department plans renewable powerWest Bengal power department plans to introduce a penalty clause on power distribution companies failing to source and wheel out at least 1...
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