Tag: Income Tax filing

10 big tax reliefs announced by the government for taxpayers

The government has announced several measures to ease income tax compliance and additional relief measures for taxpayers during the coronavirus pandemic. From further extension of...

What taxpayers can expect from faceless assessment scheme

The government recently launched faceless assessment scheme (FAS). Under this, a computer picks cases for scrutiny and randomly allots them to a team of tax...

What is the TCS on foreign remittances?

Indian residents can remit up to USD 250,000 under the LRS every year for various purposes such as medical treatment, gifts, maintenance of relatives abroad,...

Catching elusive taxpayers still a work in progress

A tweet from a government handle, now deleted, was the cause of much upset with social media going a little nuts on the increasing compliance...

Residential status decides how a person’s global income is taxed

I am employed with a multinational corporation based out of Gurugram. I may move to my company’s office in Dubai later this year. In this...

What govt must do to make the new tax charter more effective

Prime Minister Narendra Modi last week announced tax reforms, which includes a new charter defining the rights as well as the obligations of assessees. Clarity...

Tax department allows one-time verification of past income tax returns by September 2020

The tax department has provided a one-time window till September this year to taxpayers who haven’t verified their income tax returns for the assessment years...