Government on Wednesday extended the last date for filing Income Tax return by a week to September 7. “Due date for filing Income Tax return extended till 7th Sep, 2015,” the Finance Ministry said in a tweet. The earlier date was August 31. The tax department has notified a new [...]
HOW DOES GST AFFECT YOUR BUSINESS What is GST? GST is a comprehensive tax levy on manufacture, sale and consumption of goods and services at an all India level. Through a tax credit mechanism, this tax is collected on value-added goods and services at each stage of sale or purchase. [...]
The global tax landscape has witnessed dramatic changes in the recent past and it is likely that this trend will continue in the foreseeable future. The reasons could be varied — economic challenges putting increased pressure on the revenue authorities to collect taxes; global companies coming under public scrutiny especially [...]
Registering trademarks and patents will help start-ups in the long term As the founder of a start-up, the last thing you want to focus on is legal matters. But that is exactly what Suresh Sambandam, founder of OrangeScape, a cloud software provider, decided to take on. And thanks to this, [...]
TDS helps avoid tax evasion by making it compulsory for the income-giver to first deduct and then pay. TDS is applicable on various income sources, such as salary, interest, rent, commission, professional fees and lottery earnings. Tax liability If you are paid income after tax has been deducted, it doesn’t [...]
You need to pay wealth tax if the value of personal assets you own exceeds ₹30 lakh In India, most people focus all their tax planning skills on working out how to save taxes on their income. They invest in 80C instruments, buy tax-free bonds, keep meticulous track of capital [...]
The surge in the number of e-filers on 31 July, the last day for filing income tax returns, overloaded the system and forced the government to extend the deadline to 5 August. This last-minute rush has become a regular feature in the past few years. The system gets overloaded because a large [...]
The idea of filing income tax would give many of us nightmares. With the last date for filing income tax soon approaching, most of us would have already begun the process of filing our returns. The due date for filing personal income-tax returns for the financial year 2012-13 is July [...]
Read this interesting post on some of the (mis) information about Income Tax Returns http://www.caclubindia.com/articles/top-10-myths-about-income-tax-return-filing-on-31st-march-2013-deadline–17171.asp [...]
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