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TAXABILITY OF PENAL CHARGES
Advance tax deadline September 15, 2025: How much penal interest you need to pay if you miss due dateTaxpayers with liabilities exceeding Rs 10,000 must pay advance tax in quarterly instalments. The Q2 deadline for FY 25-26 is September 15,...- ITR filing deadline: How much penalty amount you need to pay if you miss September 15 due date?The ITR filing deadline is September 15, 2025. This is for individuals not requiring audits. Missing it means late fees. Section 234F detai...
- No GST on penal charges levied by banks, NBFCs and other regulated entities on loans, clarifies CBICNo GST on penal charges: The government has clarified that no bank, NBFC, regulated entities (REs) can charge Goods and Services Tax (GST) ...
- No GST on penal charges levied by banks, NBFCs: CBICGST will not be charged on penal charges levied by banks and NBFCs, as clarified by the CBIC. This exemption is due to such charges being d...
- ITR filing deadline missed: A belated ITR for FY2023-24 (AY 2024-25) can only be filed under the new income tax regimeHow to File Belated ITR: A big disadvantage of filing a belated income tax return (ITR) is that, starting August 1, i.e., after the July 31...
- Return excess income tax refund else you may get tax noticeIt may happen that an individual has incorrectly filed his ITR by July 31, 2023 for FY 2022-23 (AY 2023-24), and the ITR got processed and ...
- Actual cost of missing July 31 ITR filing deadline is much more than penaltyIf an individual misses the last date of filing ITR i.e., July 31, then it is a known fact that a belated ITR can be filed albeit by paying...
- How to report crypto income in ITR. Can I avoid tax? All your crypto tax queries answeredCrypto taxation is a relatively new concept in India, with the Finance Act 2022 being one of the country's first laws to recognize crypto a...
- Double income taxation on sale, purchase of property: Will Budget 2023 provide relief?Under the current income tax laws, if the difference between circle rate and actual sale price of property exceeds by 10% of circle rate, t...
- Budget 2022: Consequences for TDS shortfall are borne by the employee who has switched jobsThe Bombay Chartered Accountants’ Society (BCAS), in its pre-budget memorandum, has submitted: “Because of short deduction by the employer ...
- Income tax rules: Tax on PF interest, reduction in time limit of ITR filing, other changesWith the start of the new financial year on April 1, various tax and money rules come into effect. Here is a look at 11 rules that will imp...
- View: Few suggestions for finance minister on how to tax the new normalLet’s begin with the stark reality of work from home (WFH). Currently, computers and laptops provided by employers for use by an employee d...
- Home loan tax reliefs often missed by taxpayersMany of you who already own a second house or looking to buy a new house might give a look at the rules listed here to receive the often mi...
- Fringe benefits availed by employees liable to GSTThe fringe benefits are transactions in furtherance of business. "Even if supplied without consideration, the same are deemed supply" and w...
- Changing jobs? Here's how to minimise tax impactFrom correct deduction of TDS to payment of advance tax, here’s how to deal with various taxation issues that may arise when you switch job...
- Six things about home loan tax incentives you didn't knowEven if you get a discount on both, your tax bill can burn a hole unless you know the rules well. Here goes a list of six lesser known tax ...
- Query Corner: TaxationOur expert guides you in matters relating to tax. Email to etquerytax@indiatimes.com.
- I-T department wants Hasan Ali to cough up Rs 70,000 crore in taxesThe Pune-based owner of race horses who is wanted for money-laundering deals worth billions of dollars and tax evasion.
- File your tax returns in 3 easy stepsFiling I-T returns a hurdle? Here are some easy steps on how you can do it. IT return: Must-do things | Common mistakes | More tips | Smart...
- TDS: Ignorance can be taxingWith the govt aiming at widening the TDS regime, most taxpayers are not aware how it impacts them.
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