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tax updates

Exempt Income of research association [Section 10(21)] 

July 10, 2023 by Pooja Gupta
Exempt Income of research association [Section 10(21)] 

Any income of a research association, approved under section 35(1)(ii)/(iii) is exempt from tax, if following conditions as specified in …

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EXEMPT ALLOWANCES & PERQUISITES UNDER INCOME TAX

July 19, 2023July 10, 2023 by Pooja Gupta
EXEMPT ALLOWANCES & PERQUISITES  UNDER INCOME TAX

Death-cum-retirement gratuity received by Government servants [Section 10(10)(i)] Section 10(10)(i) grants exemption to gratuity received by Government employee (i.e., Central …

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Deadline for Higher Pension ends tomorrow: Should you opt for it?

July 10, 2023 by Pooja Gupta
Deadline for Higher Pension ends tomorrow: Should you opt for it?

The deadline to apply for higher pension under the Employees’ Pension Scheme (EPS) ends tomorrow ( July 11), unless the …

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EXEMPT INCOME UNDER INCOME TAX FOR NON RESIDENTS, FOREIGN COMPANIES ETC.

July 9, 2023July 9, 2023 by Pooja Gupta
EXEMPT INCOME UNDER INCOME TAX FOR NON RESIDENTS, FOREIGN COMPANIES ETC.

Certain interest to non-residents [Section 10(4)] As per section 10(4)(i), in the case of a non-resident any income by way …

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Top 17 Tax Free Incomes under Income Tax

July 19, 2023July 9, 2023 by Pooja Gupta
Top 17 Tax Free Incomes under Income Tax

1. Agricultural Income [Section 10(1)] As per section 10(1), agricultural income earned by the taxpayer in India is exempt from …

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GSTN (Goods & Services Tax Network) brings under PMLA

July 19, 2023July 9, 2023 by Pooja Gupta
GSTN (Goods & Services Tax Network) brings under PMLA

As per Notification under section 66 of PMLA, 2002 Dated 7 July 2023, Government brings GSTN under PMLA (Prevention of …

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New feature on Income Tax portal – Know your Refund Status

July 8, 2023 by Pooja Gupta
New feature on Income Tax portal – Know your Refund Status

Earlier this option was on NSDL website, Now know your Refund Status option is in Quick links of www.incometax.gov.in you …

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GST Portal New – Geocoding Functionality Now Live for All States and Union Territories

July 9, 2023July 7, 2023 by Pooja Gupta
GST Portal New – Geocoding Functionality Now Live for All States and Union Territories

Dear Taxpayers, GSTN is pleased to inform that the functionality for geocoding the principal place of business address is now …

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Updated Return (ITR-U) – All you want to know before filing past 3 year Missed income Tax Returns

October 13, 2023July 6, 2023 by Pooja Gupta
Updated Return (ITR-U) – All you want to know before filing past 3 year Missed income Tax Returns

Updated Return is a return, which is introduced in Budget 2022 to file missed Income Tax Return of past 3 …

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Exemption of Capital Gain on sale of Agriculture Land

July 6, 2023 by Pooja Gupta
Exemption of Capital Gain on sale of Agriculture Land

Change is an inevitable part of life, and sometimes it takes us on unexpected journeys. Today, I want to share …

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