The Central Board of Direct Taxes (CBDT) has issued a circular on January 6, 2023, to extend the time limit to claim tax exemption under section 54 and 54GB of the Income-tax Act, 1961. An individual who was required to invest in specified asset between April 1, 2021 and February 28, 2022, now have time till March 31, 2022 to invest and save tax.
December 31, 2022 was the last date for filing certain income tax returns. These include - belated ITR and reivsed ITR. However, if you have missed this deadline, then you have an option to file updated income tax return or also known as ITR-U. Here's what you need to know about.
When an individual buys a house, then apart from other formalites such as registering the sale deed, making payments etc., they are also required to fulfill the TDS obligations as well. However, not many people are well-informed about how to deduct, deposit the tax before making payment to the seller.
Based on the rollover data, Nifty may stay on the positive side. For January Expiry, important levels to watch for are 18500 on the higher side whereas 17600 can act as support on the lower side.
The Department of Personnel and Training (DoPT) has extended the Leave Travel Concession (LTC) block year 2018-2021 for a period of three months for central government employees.
Like any other investment, it is important to consider the tax implications of mutual fund investments before making them.
Sudhir Kaushik of Taxspanner.com tells readers how they can optimise their tax by rejigging their income and investments.
Though more tax efficient than dividends, buyback offers do not entirely exempt stockholders from the tax axe.
Though it will be difficult for the government to give out too many tax sops, ET Wealth believes there are some areas that need fixing. For instance, the Rs.1.5 lakh deduction limit under Section 80C was last revised more than eight years ago in 2014. For many Indians, tax saving is a key driver of investments. But the stagnant Section 80C deduction limit means they have not seen any reason to save more.