Significant RBI Rule Amendment Fixed Deposit Regulations
The Reserve Bank of India has announced a change in the rules for non-callable term deposits.
My ITR Online Post Daily Latest News or Updates for Income Tax Filing.
The Reserve Bank of India has announced a change in the rules for non-callable term deposits.
Understanding income tax liability is not just a legal requirement; it's a financial skill that empowers us to manage our earnings and contribute to the nation's development effectively.
When you have done outstanding work and earned royalties on a patent, it's like getting a well-deserved reward. To promote this kind of innovative spirit, the Income Tax Act introduced Section 80RRB.
As Madhya Pradesh gears up for assembly elections, the Income Tax Department is closely watching for black money and expenditures aimed at influencing voters.
ITR-U is a specialized form for fixing or updating your Indian income tax return. It's your chance to correct errors or add missing details from your original filing.
Paying taxes in both your home country and the country where you work can be challenging. To solve this issue, India, along with 85 other nations, including the USA, has signed the Double Taxation Avoidance Agreement (DTAA).
Using ITR-U, you can revise your tax return within a specific timeframe, as Section 139(8A) of the Income Tax Act allows. It's important to remember that ITR-U is different from the regular tax return forms you use for your initial filing, like ITR-1 or ITR-2.
Section 144 of the Income Tax Act, 1961 holds substantial importance as it grants tax authorities the authority to conduct assessments in specific scenarios, especially when a taxpayer neglects to file their income tax return or furnish essential information.
The ITAT bench emphasized in their judgment that the interest portion of the refund should not be evaluated until it is actually received.
The RBI introduced Rs 2,000 notes to quickly meet the country's need for currency after discontinuing Rs 500 and Rs 1,000 notes.
Significant RBI Rule Amendment Fixed Deposit Regulations
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No Penalties Not Reporting Interest Tax Refunds
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