Reduced rate applicable from current FY; final call on fiscal deficit will be taken at Revised Estimate stage The lower minimum alternate tax (MAT) rate announced as part
Despite the popularity of chit funds in India, the tax treatment of income from this preferred investment option is not too clear Chit funds are still a preferred
Indian tax officials are pushing back against Prime Minister Narendra Modi’s new faceless tax assessment programme, complaining about a lack of consultation and inadequate resources to implement the
Where assessee duly discharged the initial onus of proving the identity of the investors, creditworthiness of the investors and genuineness of the transactions and where notices issued under
A task force on Direct Tax Code regulation has not favoured any “accountant” status to cost accountants and company secretaries, a senior official told ETCFO on the request of anonymity.
Recently, the Institute of Cost Accountants of India and the Institute of Company Secretaries of India have submitted representations to the Government requesting for an amendment in the
In order to discourage cash transactions and move towards less cash economy, the Finance (No. 2) Act, 2019 has inserted a new section 194N in the Income-tax Act,1961
The government is looking to include the interest earned across bank accounts into the pre-filled forms instead of confining it to the bank account So far, the government
Move to help audit trail of communication Every communication to be issued by the Income-Tax Department will now have a Document Identification Number (DIN). This intends to insure
