CBDT Starts Acknowledging Angel Tax Submissions But It’s Not Enough, Say Stakeholders

The Central Board of Direct Taxes (CBDT) has started sending acknowledgement emails to the startups who’ve filed Form 2 of the Section 56 Exemption Declaration certificates. Startup stakeholders welcomed it as a ‘cursory step’, but, criticised as that “would not suffice something towards availing exemption from the angel tax .” The CBDT sent the acknowledgement […]

Relief for startups: people with orders get exempted from angel tax

After what looks like several long and tough months, startups subsequently were given relief from the dreaded Angel Tax. According to three startup founders, startups that had orders and had carried out for tax exemption with the Central Board of Direct Taxes (CBDT), have now acquired a proper mail from the  Department for Promotion of […]

View: A case for a minimal alternative tax on sales, now not on earnings

Few might consider that the International Monetary Fund’s (IMF) coping with the director, Christine Lagarde, could ever call for growing nations to boom taxation of firm agencies. She has completed precisely that during an op-ed inside the Financial Times (‘An overhaul of the international tax system can wait not,’ goo.Gl/XanF8z). “The public notion that substantial […]

Disabled can claim tax saving deductions as much as Rs 1.25 lakh under sections 80DD, 80U

The Income Tax Act permits deductions from your general gross income, earlier than the levy of the tax if medical expenditure has been incurred on the treatment of an in a different way abled man or woman. Sections 80DD and 80U of the Income Tax Act offers with the clinical expenditure incurred for this purpose. […]

Dividend payout alternative does now not give any tax benefit

Does the investment choice you select in a mutual fund scheme affect the very last final results of your investment or is it merely one more tick within the utility form that you make without thinking an excessive amount of approximately it? Investors in a mutual budget can structure the way they receive the returns […]

The Surprising Winners and Losers of This Year’s Tax Season

Most Americans owe less to the Internal Revenue Service ordinary, thanks to the tax law signed by way of President Donald Trump in 2017. But tax reform also introduced a bewildering array of latest guidelines that could have unpredictable and contradictory results. The size of your tax cut—or increase—can rely on factors like wherein you […]

Explainer: What you want to know approximately the alleged ‘Yeddy diaries’

A report in the Caravan set off a political storm on Friday, with both the Congress and the Bharatiya Janata Party preserving press meetings to trade expenses. The tale claimed that an Income Tax officer had written to Union Minister Arun Jaitley asking whether or not the department should investigate a diary that becomes allegedly […]

Income Tax branch warns of fake refund mails and messages

New Delhi: If you have got been receiving income tax refund emails and messages, be cautious due to the fact some of them might be fake! The earnings tax branch is caution honest taxpayers about faux refund messages sent by using fraudsters. In the beyond couple of years, fraudsters and scammers have been looking to […]

Tax queries: Can you claim tax refund on TDS deducted via organization on gratuity?

I had retired from a financial institution on September 30, 2018. However, my enterprise deducted tax and suggested me tax exemption on gratuity best as much as Rs 10 lakh and deducted full tax on the amount exceeding Rs 10 lakh. The financial institution quoted: “As according to circular No.138 dated 17.06.1974 modification to Income […]

6 fixed earnings investments to help you keep tax beneath segment 80C

Fixed profits contraptions are commonly meant for hazard-averse investors who want the safety of capital and assured returns. Along with those two factors, schemes just like the Public Provident Fund (PPF), National Savings Certificate (NSC), and Sukanya Samriddhi Yojana (SSY) and many others., additionally offer tax-saving advantages underneath phase 80C of Income Tax Act. PPF […]