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SANDEEP SEHGAL
FCNR FD interest rates: SBI vs PNB vs HDFC Bank vs ICICI Bank - which gives you best rates; eligibility and taxation on interest explainedFCNR interest remains exempt from tax as long as the depositor qualifies as an NRI or resident but RNOR under Section 10(15)(iv)(fa) of the...- Income Tax department mulls probe into Jane Street after SEBI allegations of market manipulationFollowing SEBI's allegations of market manipulation against Jane Street, the Income Tax department is considering a probe into potential vi...
- Banks' proposal for tax relief on NPA interest under reviewThe government is considering banks' request to amend income tax law, aligning NPA definitions with RBI norms to exempt interest earned on ...
- GSTN defers locking of table showing inter-state supplies to unregistered persons in monthly returnsGST Network has deferred the implementation of locking Table 3.2 in GSTR-3B, which shows inter-state supplies to unregistered persons and c...
- I-T Department notifies ITR forms 1, 4 for AY 2025-26With the notification, individuals, HUFs, firms having income up to Rs 50 lakh and those having earnings from business and profession in th...
- Softy ice cream mix not dairy produce, attracts 18 pc GST: AARSofty ice cream mix in vanilla flavour, containing 61.2% sugar and 34% milk solids, is not classified as a dairy product and will attract 1...
- Income Tax department notifies cost inflation index for current fiscalThe Income Tax Department has notified the Cost Inflation Index (CII) for the fiscal year 2024-25, set at 363, to calculate long-term capit...
- Income Tax dept releases interim plan for FY25: Key focus on TDS and appeals processingThe income tax department in India has released an interim action plan for the fiscal year 2024-25, focusing on identifying cases of TDS sh...
- Professional services companies go slow on hiring as attrition level dropsIndustry officials, however, said the impact of the cut down in hiring is mostly at the senior management and director levels, while compan...
- Income Tax department reduces time for taxmen to decide on refund adjustmentAccording to the Directorate of Income Tax (Systems) notice, the time limit of 30 days made available to the assessing officers has been re...
- CBDT notifies condition for claiming tax exemption for receiving ex-gratia amount due to Covid 19The clarification comes about a week after the last date for filing income tax return for Financial year 2021-22. As per the notification, ...
- I-T dept issues guidelines for selection of tax returns for complete scrutinyUnder complete scrutiny, a detailed scrutiny of the return of income is carried out by tax officers to confirm the genuineness of various c...
- CBDT asks tax officers to not issue reassessment notices for 3 years till FY15Issuing an instruction on implementation of the apex court judgement regarding notices sent beyond the three-year reassessment period, the ...
- Govt notifies form for filing updated ITRsTaxpayers filing ITR-U, which can be filed within 2 years of the end of the relevant assessment year, will have to give reasons for updatin...
- CBDT expands Form 26AS info list; includes foreign remittances, MF buysThe I-T Department has expanded the list of high-value financial transactions which would be available to taxpayers in their form 26AS by i...
- I-T dept enables tax audit utility form for FY'20, FY'21The last date for filing the tax audit report for the 2020-21 fiscal is January 15, 2022. For fiscal 2019-20 i.e. AY 2020-21, limit was Rs ...
- GST registration can't be cancelled if business not carried out from premises due to Covid 19 norms, protocols: Calcutta HCDuring the first wave of the Covid 19 pandemic, many businesses opted for ‘work from home’ for their workers, even as business activity fro...
- HC wants law on illegal trafficking for jobs abroadDelhi HC has asked the Shipping Ministry and the External Affairs Ministry to examine the feasibility of making a law to check illegal traf...
- Petrol pump owners seek 'one nation one rate' for fuelBansal said maximum tax on petrol is levied by Tamil Nadu state, which is about 35 per cent while Goa imposes lowest rate of tax on the com...
- Complaint against BJP member for uploading Sonia's morphed picA complaint was filed with the local police against the uploading of an objectionable picture of Congress president Sonia Gandhi by a BJP a...
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