Direct Taxes Code can simplify taxation and reduce your tax The Finance Ministry is planning to revamp the direct tax structure. Previous attempts to overhaul direct taxes were not successful named Under Direct Taxes Code . In 2009, the Direct Taxes Code had suggested radical changes, including the removal of many exemptions and generous tax slabs. […]
Tag Archives: Income Tax updates
Income Tax Rate of 20% likely to be reduced to 15%!!! It is close to a year since demonetisation has taken place. GST the greatest tax reform since independence, has been rolled out a few months ago. Both of these reforms have an impact on inflation. Moreover the prices of petroleum products continue to be […]
ITR won’t be processed untill link with Aadhar- What Means for you The Income Tax department has clarified that the deadline to link PAN with Aadhaar for taxpayers is unlikely to be extended beyond December 31, 2017. Therefore, even if you have filed your return by the ITR filing deadline of August 5 but have […]
Non Performing Assets – Whose Loss it is? We hear on almost day to day basis a lot on rapid increase in the NPA’s or Non-Performing Assets of the banks. Are these Non Performing Assets is a loss of the enterprises or of the Bank?
Use ITR-2 to show salary and capital gains income Which income tax (I-T) form will be used for a salaried person if there is income from capital gains. Can we e-file the ITR? Checking Google, I gathered I should file ITR-2. But on choosing e-filing option, it shows ITR-1 and ITR-4.