Friday, May 29, 2020
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Reduction for taxpayers: ITR filing date prolonged, EPF contribution diminished

NEW DELHI: In a big relief for taxpayers, finance minister Nirmala Sitharaman on Wednesday announced key reforms in the tax structure. The measures, announced as part of government's Rs 20 lakh crore economic stimulus package, aims to increase cash in hand and ease the liquidity pressure faced by people due to the ongoing nationwide lockdown…

70% of taxpayers will dangle the help of fresh profits tax...

Mumbai: The finance ministry expects at least 80 per cent of the taxpayers to move to the new income tax regime, Revenue Secretary Ajay Bhushan Pandey said on Friday. The budget 2020-21 has introduced more tax slabs and offers higher limits provided the taxpayer is ready to forego all the existing exemptions and deductions including…

Taxpayers must steer distinct of these errors while submitting I-T returns

Individuals often miss out disclosing details like interest income earned from savings bank account, fixed deposits (FDs), recurring deposits (RDs), infrastructure bonds or other sources under the head 'income from other sources'. A taxpayer is required to re…

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