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Hero MotoCorp Faces Rs 26.4 Crore Tax Demand

Hero MotoCorp Faces Rs 26.4 Crore Tax Demand

Fri, Jan 03, 2025

Hero MotoCorp has been handed an additional tax demand of Rs 26.4 crore. In this video, we discuss the details of the tax demand and its potential impact on the company's financial situati

Income Tax Savings: How you can save up to Rs 8 lakh tax through these 10 methods

Income Tax Savings: How you can save up to Rs 8 lakh tax through these 10 methods

Tue, Dec 17, 2024

How to save tax: With the right strategy and investment, anyone can save up to Rs 8 lakh in income tax. Here are 10 effective ways that will not only help you keep more of your income but also support your financial planning.

Zomato gets Rs 803.4 crore tax demand from GST authorities

Zomato gets Rs 803.4 crore tax demand from GST authorities

Thu, Dec 12, 2024

Food delivery aggregator Zomato on Thursday said the GST department in Thane has imposed a tax demand of Rs 803.4 crore, including interest and penalty. The demand order has been received in respect of non-payment of GST on delivery charges with interest and penalty thereon, Zomato said in a regulatory filing.

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Good news for customers! Private lenders waive off charges on UPI-based transactions

Good news for customers! Private lenders waive off charges on UPI-based transactions

Fri, Sep 04, 2020

If you have been making payments through UPI, your transactions are set to get cheaper. Private banks have decided to waive off charges on Unified Payments Interface (UPI)-based transactions after the Central Board of Direct Taxes (CBDT) asked banks to refund the fee collected from customers and merchants for UPI transactions from January onwards.

Income Tax returns: Banks, Post Offices can now check your ITR to deduct TDS

Income Tax returns: Banks, Post Offices can now check your ITR to deduct TDS

Fri, Sep 04, 2020

Income Tax returns: There is no running away for taxpayers anymore! If you are withdrawing a large amount of money and are yet to file Income Tax Returns, then banks can apply TDS (Tax Deducted at Source) in case of withdrawals beyond a certain threshold.

Got an income tax notice? Here is why you should not panic

Got an income tax notice? Here is why you should not panic

Fri, Aug 28, 2020

The Income-Tax department can send you a notice for various reasons but lack of information is why most people end up worrying about it. The reason for a tax notice could include not filing an income tax return (ITR) on time, calculation errors, not reporting income correctly or even claiming excessive losses.

Here is the full list of income tax benefits for senior citizens

Here is the full list of income tax benefits for senior citizens

Thu, Aug 27, 2020

While there are several income tax benefits for taxpayers in India, some of those can only be availed by senior citizens. As per the rules, a person between 60 years and 80 years of age is termed as a 'senior citizen' and a person above 80 years of age is a 'very senior citizen.'

Delayed GST payment: Net tax liability interest to be charged from this date

Delayed GST payment: Net tax liability interest to be charged from this date

Wed, Aug 26, 2020

The industry had earlier this year raised concern over the directive on recovery of about Rs 46,000 crore of unpaid interest on delayed GST payment. The interest was charged on gross tax liability.

Gratuity Tax Calculator: Know liability on this income of yours

Gratuity Tax Calculator: Know liability on this income of yours

Tue, Aug 25, 2020

The Government of India exempts gratuity income up to Rs 20 lakh for those employees who are covered under the Payment of Gratuity Act. For those, who are not covered, the exemption is allowed up to Rs 10 lakh

Have this cash in your account? You will be asked to pay 83.25 pct income tax

Have this cash in your account? You will be asked to pay 83.25 pct income tax

Mon, Aug 24, 2020

Did you transfer money into your bank account but never mentioned its source? Well, you may end up paying a heavy amount for this unaccounted money, if found by the Income-Tax department.

How to save income tax in India: Reduce your ITR burden, just do this

How to save income tax in India: Reduce your ITR burden, just do this

Sat, Aug 22, 2020

How to save income tax in India: Many households are facing liquidity crisis amid the coronavirus pandemic because salaries have taken a hit. In these times your tax outgo could create further problem for you. Get answers to all your Income Tax Return (ITR) related queries here from Preeti Khurana, Chief Editor, ClearTax!

Source: No changes in the ITR form; PAN, AADHAR required for large transactions

Source: No changes in the ITR form; PAN, AADHAR required for large transactions

Tue, Aug 18, 2020

According to sources, taxpayers will not have to mention their high value transactions in their Income Tax Return (ITR) & the government is not considering any changes in the form.

Income Tax alert! Made high-value transactions? Here is relief for you in filing ITR

Income Tax alert! Made high-value transactions? Here is relief for you in filing ITR

Tue, Aug 18, 2020

It's an important update for those Income Tax payers concerned about disclosing high-value transaction in their Income Tax Returns (ITR).

How Work From Home can eventually increase your income tax outgo

How Work From Home can eventually increase your income tax outgo

Mon, Aug 17, 2020

There is a high chance that you have been saving more than usual for the last few months. It makes a lot of sense. Employees have been able to save more while Working from Home as there is no travel or eating out involved.

Income Tax alert! Small and medium textiles exporters urge Modi government to introduce this system

Income Tax alert! Small and medium textiles exporters urge Modi government to introduce this system

Mon, Aug 17, 2020

Amending the e-assessment scheme launched last year, the Central Board of Direct Taxes (CBDT) has notified changes to include change in nomenclature of scheme from ''E-assessment scheme'' to ''Faceless Assessment Scheme''.

Introduce faceless assessment in indirect tax regime, demand textiles exporters

Introduce faceless assessment in indirect tax regime, demand textiles exporters

Mon, Aug 17, 2020

A small and medium textiles exporters' association has asked the government to introduce 'faceless assessments and faceless appeals' in the indirect tax regime as well so that exporters' interaction with GST officials could be eliminated. The income tax department on Thursday amended its e-assessment scheme to align it with faceless assessment

Income Tax alert! Under faceless assessment, this will be main gateway for communication with taxpayers

Income Tax alert! Under faceless assessment, this will be main gateway for communication with taxpayers

Sun, Aug 16, 2020

The Income Tax department has issued guidelines for the demarcation of roles of officers for the implementation of faceless assessment.

Faceless assessment to start with I-T Dept restructuring

Faceless assessment to start with I-T Dept restructuring

Sat, Aug 15, 2020

The CBDT has now given the detailed guidelines for the implementation of the Scheme and role of residual charges in this regard.

Tax evasion to be controlled; tax disclosure rules changed

Tax evasion to be controlled; tax disclosure rules changed

Fri, Aug 14, 2020

All the salaried classes are required to file Income Tax Return (ITR) every year. The government has exempted those earning between Rs 2.5 lakh and 5 lakh but others are expected to file their income tax returns under the given deadline. Watch how government is taking steps to control tax evasion.

Bank Fixed Deposits vs RD vs other deposits! Know these income tax rules that may take away your money

Bank Fixed Deposits vs RD vs other deposits! Know these income tax rules that may take away your money

Fri, Aug 14, 2020

Bank deposits, especially Fixed Deposits (FD) and Recurring Deposits (RD) are one of the most popular short-term investment tools among earning individuals.

Heavy penalty, imprisonment: Here is what happens if you don’t file ITR

Heavy penalty, imprisonment: Here is what happens if you don’t file ITR

Fri, Aug 14, 2020

All the salaried classes are required to file Income Tax Return (ITR) every year. The government has exempted those earning between Rs 2.5 lakh and 5 lakh but others are expected to file their income tax returns under the given deadline.

EXPLAINED! Penalty to prosecution! All that you may face for failing to file ITR by given deadline

EXPLAINED! Penalty to prosecution! All that you may face for failing to file ITR by given deadline

Thu, Aug 13, 2020

ITR Last Date: In the backdrop of Coronavirus spread, the Narendra Modi Government showered much relief on ITR filers, which includes last date extension for FY 2018-19.

Income Tax alert! From Thursday, this will happen, confirms CBDT - All you need to know

Income Tax alert! From Thursday, this will happen, confirms CBDT - All you need to know

Thu, Aug 13, 2020

The Central Board of Direct Taxes (CBDT) has confirmed that the income tax surveys to collect information for scrutiny assessment will be undertaken only by the investigation wing and the tax deducted at source (TDS) directorate with effect from Thursday.

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