Did the finance minister announce in budget 2020 that middle-east NRIs should pay tax in India from April 2020?

Use this comparison table to enter your salary details and find out if the new or old tax regime announced in budget 2020 will be beneficial for you?

This is a list of important changes in ITR forms for Assessment Year 2020-21(Financial Year 2019-20) and how they are a further step in getting more information from the taxpayers to curb tax evasion and make life easy for compliant taxpayers.

A guide to linking Pan number with Aadhaar number. If not done by Dec 31st 2019, Pan will become invalid!

The series of relief measures to boost a flagging economy has led to speculation if personal income tax would be cut next. What is the probability of this happening? An analysis

A discussion on the Faceless E-assessment Scheme for Income Tax. What is it and what taxpayers need to keep in mind when this comes into play

The finance ministry wants pre-filled income tax returns from AY 2020-201 onwards as announced in the budget yesterday. At first sight, this is appealing and convenient, but will it result in a host of new problems? The finance minister in her budget speech said, “Pre-filled tax returns will be made available to taxpayers which will…

The finance minister in her budget speech said: “ETFs have proved to be an important investment opportunity for retail investors and has turned out to be a good instrument for Government of India’s divestment programme. To expand this further, The government will offer an investment option in ETFs on the lines of the Equity Linked…

From the financial year 2018-2019, long term capital gains above Rs. one lakh from stocks and equity mutual funds are taxed at the rate of 10%. The assessment year 2019-2020 is the first time when taxpayers will have to report equity LTCG in schedule CG of ITR2. However, since the income tax department did not…

The Income Tax Department has published ITR forms for A.Y. 2020-21. You can use this article to quickly determine which form is right for you. As on date, only the PDF version of the forms are available. Once the Excel and Java utilities are available, you can download the ITR forms from here. You can…

We cannot afford to get rid of income tax, but why can’t we get rid of income tax returns? Difficulty in figuring out which ITR form to use, which rows to fill, delays in processing, delay in refunds, hassles with TDS, irritating notifications to respond to, I could go on. All this makes you want…

Did you receive an email from the income tax department that there is a mismatch or inconsistency between salary income in return and Form 26AS?I did and this is how I responded. I am not a taxation expert, but I thought sharing this might help others and in any case myself. First of all, I think…