CBDT: No Lens on investments under old tax treaties
The Central Board of Direct Taxes (CBDT) has said that the Principal Purpose Test (PPT), which allows for deeper scrutiny …
Direct tax
These cash transactions may attract up to 100% penalty by Income Tax Department
The Income Tax Department while acknowledging Indian society’s affinity with cash transactions warned that the Income Tax Act, 1961 discourages …
Home loan interest advantage in new tax regime: Reduce your tax by claiming loss but only on this type of house property
If you have an ongoing home loan and are looking to reduce your net tax outgo, it is advisable to …
New ITR e-filing portal 3.0 to be launched soon
The e-filing ITR portal for income tax is about to undergo a revamp with ‘substantial’ changes that are more friendly …
Finance ministry releases new norms for handling delayed tax refund claims
The Ministry of Finance has released new guidelines for handling delayed tax refund claims and loss carry forward applications. The …
Is the Centre planning to decriminalise minor I-T offences in 100 days?
The central government may decriminalise minor income tax offences and replace prosecution with penalties as part of its agenda for …
Direct tax collection grows 20% to Rs 18.90 trillion till March 17
The government had in the revised estimates for direct tax collection pegged the receipts for the full fiscal (April-March) at …
