Gupta (60), an Indian Revenue Service (IRS) official from the Income-tax department, was named chairman of the Central Board of Direct Taxes (CBDT) in June last year. On Saturday, the day before his planned retirement, the Union government granted CBDT Chairperson Nitin Gupta a nine-month contract extension. Gupta (60), an Indian Revenue Service (IRS) official…
Many instances are anticipated to involve deductions claimed after submitting investment disclosures to employers after the deadline. According to chartered accountants, salaried taxpayers who claim appropriate deductions on their tax filings need not be alarmed. Several high-net-worth individuals (HNIs) and salaried taxpayers, among others, are agitated after receiving income-tax (I-T) letters lately. The tax authorities…
Use these forms to avoid paying TDS on income from interest, commission, rent, and other sources. Although there is no set deadline for completing these forms, it is ideal to do so as early as possible, preferably in April or May. When it comes to taxes, the well-established rule is that no income is exempt…
According to the new GST laws that went into effect on July 18, a renter who is registered with the GST must pay a Goods and Services Tax of 18% when renting a property. The 18% tax on rent paid is only applicable to renters who are GST-registered. Previously, only commercial buildings such as offices…