#tax deducted at source in hindi

[werindialive]

PAC to Investigate SEBI Chief Madhabi Puri Buch Over Conflict of Interest Allegations 

Madhabi Puri Buch, the Chairperson of the Securities and Exchange Board of India (SEBI), is under scrutiny after allegations surfaced regarding a conflict of interest during her tenure. The Parliament's Public Accounts Committee (PAC) has initiated an investigation into claims that Buch continued to receive payments from ICICI Bank while holding her regulatory position at SEBI. These payments, which included pensions and Employee Stock Ownership Plans (ESOPs), have raised questions about whether Buch’s financial ties to the bank compromised her impartiality as the head of the market regulator. 

The Congress party has been particularly vocal, accusing Bush of receiving substantial sums from ICICI Bank, amounts that allegedly exceeded her salary during her time at the bank. These payments reportedly varied in amount and frequency, sparking concerns about transparency and Buch’s potential conflict of interest. Congress leader Pawan Khera has pointed out that the bank even paid Tax Deducted at Source (TDS) on her ESOPs, a benefit he claims might not be extended to all employees, further intensifying scrutiny. 

The PAC, chaired by K. C. Venugopal, has added this issue to its agenda following demands from several members during a meeting in late August. They are expected to summon Buch later this month, along with officials from the finance and corporate affairs ministries, to delve deeper into SEBI’s functioning and Bush's involvement with ICICI Bank. 

In addition to these allegations, Buch has been linked to the Adani Group controversy through a report by Hindenburg Research. The report claims that Buch and her husband owned stakes in companies tied to a money syphoning scandal involving the group. These allegations were strongly denied by Buch, who maintains that all required financial disclosures were made to SEBI during her tenure. 

Buch, who became the first woman to lead SEBI in 2022, has built a reputation as a reformist leader, introducing stricter regulatory frameworks for India’s financial markets. However, the controversy surrounding her financial ties to ICICI Bank has cast a shadow over her accomplishments. While her supporters argue that the payments were legitimate retirement benefits, the investigation by the PAC will determine whether any ethical lines were crossed. 

The outcome of this inquiry is likely to have significant implications for Buch’s career and SEBI’s reputation, as the committee seeks to ensure that regulatory bodies maintain integrity and independence.

For more politics news in Hindi, subscribe to our newsletter.

[1lastdate]

Tax Deducted at Source (TDS) | Set Up Your Books For Tax Deducted at Source (TDS) in TallyPrime

Tax Deducted at Source (TDS) | Set Up Your Books For Tax Deducted at Source (TDS) in TallyPrime

Tax Deducted at Source (TDS) Enable TDS Press F11 (Features) > set Enable Tax Deducted at Source (TDS) to Yes. If you do not see this option: Set Show more features to Yes. Set Show all features to Yes. The TDS Deductor Details screen appears. Press F12 (Configure). Set the option Show All Deductor types to Yes, to view all the deductor types. Set the option Enable surcharge and cess details…

[96thdayofrage]

Pamphlet one: “Understanding Capitalism.” A forty-page text explaining clearly why capitalism isn’t just a collection of individuals, but individuals grouped in social classes with very different interests. Capitalists aren’t necessarily “greedy,” but motivated by market pressures and those pressures create enormous wealth but also great misery for the majority. Because of the nature of the system workers can only advance if they act collectively.

Pamphlet two: “Capitalism and the State.” We are living in a new Gilded Age, in which an immense concentration of wealth has grown together with the concentration of political power. This pamphlet analyzes the sources of state bias. We need to understand why, far from counteracting the power of capital, states tend to reinforce it. We need to recognize the structural forces that bind it to capitalist interests, even though capitalists’ small numbers should be a disadvantage in a democratic system.

Pamphlet three: “Capitalism and Class Struggle.” The reason working-class struggles are central to Left politics is that they are the enabling condition for everything else. They create the power and the political leverage that enables us to act on our morals and ideological beliefs — whereas the morals and values without the leverage remain little more than pipedreams. In this third pamphlet, we develop the classic rationale for a class-based political strategy. We examine how it works and also why, even though it deserves to be at the heart of progressive politics, it is so hard to organize and sustain.

Intended for students, organizers, and militants, we hope that they will help in the task of building a new generation of radicals in these heady times. We start with three — but there are more on the way from a host of authors.

The first three pamphlets are also being made available in Arabic, Bangla, Dutch, French, German, Hindi, Kannada, Malayalam, Persian, Punjabi, and Spanish. But others will follow. We’ll post information about where to get these foreign language copies once when they’re available.

We plan to release the pamphlets online in a digital format for free in all these languages in early 2019.

The pamphlets are being sold at cost — bundles of 3 for just $10 with free shipping and handling. So if you want to support our work consider making a tax-deductible donation to Jacobin Foundation.

[akankshasmishra]

Atal Pension Yojana(APY)-Scheme Details, Amount, Elgibility

There are many investments that we must look upon to make our tomorrow secure from any financial problems. For government employees, there are so many ways like GPF, PPF, and many more. Thus, for the unorganized sector, there are various schemes came into force. Atal Pension Yojana or APY is one of them. So, let’s know more about it!

What Is Atal Pension Yojana?

Atal Pension Yojana or APY is implemented with an objective to provide the pension benefits to individuals in the unorganized sector. Pension Funds Regulatory Authority of India (PFRDA) synchronizes this plan. However, those who are in the organized sector and have no recourse for pension can also apply for this scheme.

The Central Government of India has launched three programs:

Jan Suraksha schemes during 2015-16, Atal Pension Yojana (APY),

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), and

Pradhan Mantri Suraksha Bima Yojana (PMSBY).

Due to immense public response from the Pradhan Mantri Jan Dhan Yojana to avail banking with zero balance account, our former Finance Minister Late Shri Arun Jaitley decided to create an expanded and enhanced version of the National Pension Scheme, i.e., Atal Pension Yojana. It is a replacement for the former Swavalamban pension Yojana. In Atal Pension Yojana (APY), the investor will receive their accumulated amount as a monthly payment, just as a regular income.

In case, if you (the investor) pass away, your family or better half avails of it. However, if both, i.e., you and your spouse pass away, your nominee will receive the bulk of the amount. Hence, it’s a source of income in old age.

Thus, it helps people of retirement ages to save money for future needs. The entire bulk pension money depends on the amount you devote towards it every month. Added to this, your age is also taken into consideration. One can get this amount from the age of 60 years.

What Are The Extensions We Have From NPS In APY?

APY was launched in 2015 by Finance Minister Arun Jaitley. On the one hand, where NPS is for everyone, APY focuses on the unorganized sector. According to a circular issued by the Income Tax Department in 2016, contributions to APY will be eligible for the same tax benefit as NPS.

a. Age

The customer should be at least 18 years of age to open an NPS account. The maximum age is 55 years. For APY, a person must be 18 years or older to apply. The maximum age for contributing is 40 years.

b. Investment

There is no maximum investment limit for NPS, whereas APY works on a predetermined monthly contribution. Suppose you start investing as early at the age of 18 and invests Rs 210 per month for 42 years of his life. Then you will earn Rs 5,000 periodically.

c. Minimum Investment

Under the NPS scheme, you have to contribute a minimum of Rs 500 per month, while under APY, there are three payment modes for contribution: monthly, quarterly, and half-yearly. Thus, you’re required to pay a monthly payment of Rs 42 to get a minimum guaranteed return of Rs 1000.

d. Returns

Under the APY scheme, returns get decided beforehand. The return ranges from Rs 1000 to Rs 5000, with the denominations of 1000. For NPS, returns get associated with markets. This means that returns for NPS customers can vary depending on various factors, such as market movement.

e. Premature Withdrawal

As per APY rules, you’re not allowed to withdraw money before the tenure ends. However, in case you die or have a severe medical condition, you shall be entitled to withdraw the amount. For NPS, premature withdrawals will only be allowed in Tier 2 accounts.

Features of Atal Pension Yojana:

1. Raising The Amount Of Subsidy:

As stated above, the amount of pension at your 60s solely depends on how much money you had devoted towards this. Apart from that, it also includes how early you had started investing. These pension amounts vary with the different contributions you made in your producing ages. It may happen that you may devote more bucks towards this plan. As certainly, it will yield bigger fruits in the future.

To make your way easier, the government has laid other paths too. Now, you can add up or deduct from your actual payment towards this every month. Let’s say in a month; you had other prioritized expenditures too. So, indeed, you’ll not be able to devote more money towards this. In that case, you’ll have to decrease your subsidy. Thus, the thread is in your hand itself. When to lose and when to tighten, it’s completely your choice. All you need to do is consult your bank branch manager about it and work upon the necessity.

2. Auto-Debit:

It gives you the facility of auto-debit, so you should not take this into consideration. It will be paid automatically. The only thing you need to consider is the sufficient balance in your account, which is linked with the APY account so as not to penalize yourself.

3. Pension:

It can be provided into denominations of Rs. 1000, Rs.2000, Rs.3000, Rs.4000, Rs.5000, depending on your monthly contributions.

4. Age-Restriction:

This scheme has an age restriction between 18 to 40 years. So college students can also invest in this scheme, and the maximum bar is of 40 years because in this scheme you have to contribute for at least 20 years.

5. Premature Withdrawal:

You’re not permissible to extract the amount earlier than the requisite day. However, in cases like any severe illness or death, you’re permissible for withdrawal. You can get the total amount you expended for such cases.

However, if you discontinue the plan before turning 60s for any reason except stated above, you’ll be in a great loss. Although the sum and interest you earned on that sum, will get paid back to you. Yet you won’t get granted for any government gifts or extra bucks on the interest earned on your sum.

After attaining the age of 60 years, you will be eligible to withdraw the entire amount after the closure of the scheme with the bank concerned, i.e. get a monthly pension. You can also take all the reimbursements in case of any tragic illness before attaining the age of 60.

6. Penalty Charges:

If you miss your payments, a penalty will be imposed. A fine of Re. 1 is imposed on the monthly endowment of Rs. 100 and more.Fine of Rs. 2 is imposed on the contribution of Rs. 101 to Rs.500.

Rs. 5 fine will be imposed on the contribution of Rs.501 and Rs. 1000.Rs. 10 will be imposed on the contribution of Rs. 1000 and above. If in case you’re unable to pay your subsidy for 6 months, your account gets seized temporarily. However, if the delay continues until 12 months or more, it collapses on its own. Then, your entire amount gets paid back to you.

7. Tax Deduction:

The tax deduction portion of this scheme falls under section 80CCD. As per section 80CCD, a max of 10% of your total basic wage. However, the max limit is Rs. 1,50,000. Additional discount of Rs. 50,000 is allowed under Section 80CCD (1B) for devoting to Atal Pension Yojana.

Monthly Contribution For Atal Pension Yojana Chart Age-Wise

According to different ages, you must deposit dissimilar contributions. Keeping the fact of how much pension you want after 60, the payment varies. This graph will help you understand and analyze according to your specifications.

Monthly Contribution Of Atal Pension Yojana

Benefits Of Atal Pension Yojana:

1. Regular Income Source For Old Age:

This scheme financially enables you in the age of 60s to meet your necessities. This is specially made for the ones working in unorganized sectors, e.g., Maids, gardeners, etc. In case of any illness or accident, this scheme provides a sense of security to all such crowds.

2. Nominee:

Unfortunately, if you pass away, your wife gets to avail of it. However, there are situations where both the investor and his wife dies. Then, the nominee has the choice to avail the entire amount. He can deactivate the account and receive the same pension money. The nominee can be a legal heir or any other family member.

3. For Unorganised Quarter:

Why should government employees avail of all opportunities? Some get diverted towards the corporate sectors as well. For making their lives easier, this plan got implemented. Although ones who are in the organized sector and had no recourse to a pension can also apply for this Yojana.

4. Government-Supported:

This scheme gets backed by the government, so there is no means of loss or risk. Your hard-earned money is in protective hands.

Eligibility Criteria Of Atal Pension Yojana

i. You must be an Indian civilian.

ii. You must have a legitimate active contact number.

iii. Make sure your account is well tied-up with Aadhar Card.

iv. You must be in the age bracket of 18 to 40 years.

v. You must not be a part of other welfare plans.

vi. The min duration that you must fund to your account is 20 years.

Beneficiaries of Swavalamban pension Yojana are automatically migrated to this scheme.

Characteristics For Atal Pension Yojana

All nationalized banks offer this scheme. You can choose these banks to open your APY account.

Atal Pension Yojana can be accessed from online portals or from the other banks. This form can also be downloaded from the official site.

The forms are in service in English and Hindi and seven other regional languages, i.e., Bangla, Gujarati, Kannada, Marathi, Odia, Tamil, and Telugu.

Pen down the blanks in the form, after filling, handover them to the bank for further work.

If you have not already provided a contact number to the bank, provide a valid mobile number.

Also, carry with yourself two scanned pictures of your Aadhar card.

Frequently Asked Questions

1. Is it feasible for me to subscribe to the APY pension plan? What if I’ve not opened a savings account yet?

No, first of all, you need to open a savings account. Until and unless you save, how’ll you divert towards other fields? Then go for an APY subscription.

2. Is it mandatory to declare a candidate while applying for Atal Pension Yojana?

Yes, in case both you and your wife’s unfortunate death, your nominee gets the amount. So, you need to choose a person as your nominee. For more verification of your nominee, you must provide his KYC information as well.

3. Can I accumulate more than one pension accounts under this scheme?

No, you cannot accumulate multiple pension accounts under this plan.

4. Is there any way how I can apply for it online?

No, at present, there is no provision to apply online for APY. You can fill the form in the post office only.

5. What documentation you must carry with yourself to submit for this scheme?

To apply for the APY scheme, you need to submit the form accompanying a scanned Xerox copy of your Aadhar card. No further documents you need to carry.

6. How can I know if my scheme is functioning well or not?

You will get a notification pop up on your registered phone number once the plan gets approved.

7. When is the last date to which I can join the Atal Pension Yojana?

Atal Pension Yojana does not have any such last date to join the scheme. Handover this form as early as 1st June for being the part of this magnanimous scheme. The scheme gets revived every year by 1st June.

8. Is the money invested in this plan safe? Will the plan face any kind of transformation if the party changes?

Although this scheme is passed in the budget session, it doesn’t depend on Government bifurcations or change. The plan will not be closed if the government changes, and your contribution is safe. Any successful governments only have the right to rename the pension scheme.

9. What is the age tenure to join this scheme?

You can join this scheme as early as the age of 18 years. College going students can also go for it. The highest age for being part of this scheme is 40 years. Having the upper limit is due to the reason of the compulsory contribution duration of 20 years. From 60 onwards, you will start being paid with your pension.

Final Talk

Pension getting is another beautiful stage of life. Getting ripened fruits for a tree, you grew in the past is something to cherish for! I hope this article helped you in enlightening your views.

source http://invested.in/atal-pension-yojana/

source https://investedindia.wordpress.com/2020/09/23/atal-pension-yojanaapy-scheme-details-amount-elgibility/

[taxjankari-blog]

इनकम टैक्स डिडक्शन जो आपका टैक्स बचा सकती है – income tax deduction other than 80 c in Hindi

income tax deduction other than 80 c in Hindi- आज के समय में सभी लोग कम से कम Tax और अधिक से अधिक इनकम कमाना चाहते है। इसीलिए आज कोई भी पर्सन अपने Tax को कम करने का कोई भी मौका छोड़ना नहीं चाहते। आज के इस आर्टिकल में हम भी आपके लिए कुछ ऐसे Income tax deduction लेकर आये है जिनके बारे में जानकर आप निश्चित ही अपना टैक्स Tax बचा सकते है।

इनकम टैक्स एक्ट का 80 C एक ऐसा सेक्शन है, जिसका use अधिक से अधिक करदाता अपना टैक्स बचाने में करते है। लेकिन आज हम 80 सी के अलावा कुछ ऐसे sections के बारे में बात करेंगे जिनके बारे में बहुत कम लोग जानते है और अपनी Tax Liability को कम करने में उनका use भी नहीं कर पाते है।

https://taxjankari.com/income-tax-deduction-other-than-80-c-in-hindi/

सेक्शन 80 सी के अलावा इनकम टैक्स छूट – income tax deduction other than section 80 c in hindi

सेक्शन 80 E – deduction of higher education interest

एक Individual (व्यक्ति ) द्वारा Higher एजुकेशन पर लिए गए लोन के ब्याज की सेक्शन 80 E में में छूट दी जाती है। इस सेक्शन में सिर्फ इंडिविजुअल को ही डिडक्शन प्राप्त होती है।

यहाँ Higher एजुकेशन से मतलब सीनियर सेकेंडरी एग्जामिनेशन को पास करने के बाद आगे की पढाई करने से है। यदि आगे की पढाई भारत के बाहर भी की गयी है तो भी इस सेक्शन Section में डिडक्शन ली जा स��ती है।

एक व्यक्ति Higher एजुकेशन के लिए लोन अपने स्वयं या जीवनसाथी या अपने बच्चो के लिए ले सकता है। लेकिन इस सेक्शन Section में डिडक्शन लेने के लिए यह अनिवार्य है कि Loan सिर्फ बैंक, या Notified फाइनेंसियल इंस्टीटूशन या एप्रूव्ड चैरिटेबल इंस्टीटूशन से लिया गया हो।

इस सेक्शन में अधिकतम छूट लेने की कोई सीमा नहीं है। यानि एक फाइनेंसियल ईयर में Higher एजुकेशन पर लिए गए लोन पर चुकाए गए पूरे ब्याज की छूट प्राप्त होगी।

Higher एजुकेशन पर लिए गए लोन पर चुकाए गए ब्याज की अधिकतम 8 वर्ष या जब तक पूरे ब्याज का भुगतान नहीं कर दिया जाता, जो भी पहले हो डिडक्शन ली जा सकती है। जैसे – अगर आपने असेसमेंट ईयर 2018-19 में डिडक्शन ली है, तो आगे 7 वर्षो तक चुकाए जाने वाले ब्याज की छूट ले सकते है।

सेक्शन 80EEA – deduction of home loan interest

बजट 2019 में इनकम टैक्स एक्ट में एक नया सेक्शन 80EEA जोड़ा गया। इस सेक्शन में नए घर खरीदने वालो को 1.5 लाख रुपये की अतिरिक्त छूट देने की घोषणा की गयी है।

इसके लिए कुछ कंडीशन (Condition) पूरी होनी जरुरी (need) है, जैसे –

घर (House) की स्टाम्प ड्यूटी वैल्यू 45 लाख से अधिक नहीं होनी चाहिए,

1 अप्रैल 2019 से 31 मार्च 2020 तक लोन सैंक्शन होना चाहिए,

लोन लेने वाला व्यक्ति फर्स्ट टाइम buyer होना चाहिए।

यदि ये तीनो कंडीशन पूरी होती है , तो सेक्शन 80EEA में 1.5 लाख की छूट ली जा सकती है।

बजट 2019 के बाद एक व्यक्ति होम लोन इंटरेस्ट की कुल 3.5 लाख की छूट ले सकता है। सेक्शन 24B में 2 लाख और सेक्शन 80EEA में 1.5 लाख की इनकम टैक्स छूट ली जा सकती है।

सेक्शन 80EEB – इलेक्ट्रॉनिक व्हीकल के खरीद पर छूट

budget 2019 में इनकम टैक्स एक्ट 1961 में एक और नया सेक्शन जोड़ा गया, जिसका नाम है सेक्शन 80EEB .इस सेक्शन के अनुसार यदि कोई व्यक्ति इलेक्ट्रिक व्हीकल खरीदने के लिए लोन लेता है, तो उस लोन के ब्याज (interest) की उसे छूट प्राप्त होगी।

section 80EEB में अधिकतम 1.5 लाख तक की छूट प्राप्त की जा सकती है, लेकिन उसके लिए कुछ कंडीशन पूरी होनी जरुरी है, जैसे –

section 80eeb में डिडक्शन सिर्फ इंडिविजुअल को ही दी जाएगी। कोई भी कंपनी, फर्म, AOP या BOI इसमें छूट का दावा नहीं कर सकते।

इलेक्ट्रिक व्हीकल के लिए लोन 1 अप्रैल 2019 से 31 मार्च 2020 तक लिया गया होना चाहिए।

यह लोन सिर्फ फाइनेंसियल इंस्टीटूशन या NBFC से ही लिया जाना चाहिए।

अगर ये कंडीशन पूरी होती है तो आप section 80eeb में 1.5 लाख की छूट ले सकते है। इस बात से कोई फर्क नहीं पड़ेगा कि इलेक्ट्रिक व्हीकल आप पर्सनल यूज़ (use) में ला रहे है या बिज़नेस (Business) यूज़ में ।

सेक्शन 80 G – डोनेशन

सेक्शन 80 G में कुछ निर्धारित फण्ड या चैरिटेबल इंस्टीटूशन को दिये गए डोनेशन की छूट दी जाती है। यानि की अगर आपने निर्धारित फण्ड या चैरिटेबल इंस्टीटूशन को कुछ राशि दान में दी है, तो इस राशि की आप सेक्शन 80 G में छूट क्लेम कर सकते है और अपना टैक्स बचा सकते है।

80 G में कोई भी टैक्सपेयर छूट ले सकता है, जैसे – इंडिविजुअल, फर्म या कंपनी या कोई भी अन्य पर्सन चाहे वह रेजिडेंट हो या Non रेजिडेंट। इस सेक्शन में डिडक्शन क्लेम करने के लिए आपको अपनी इनकम टैक्स रिटर्न में Donee का नाम, पता, पैन कार्ड नंबर और जितनी राशि दान में दी है , की जानकारी देनी पड़ती है।

इस सेक्शन में छूट लेने के लिए आवश्यक यह है कि Cash में दिया गया डोनेशन Rs. 2,000 से ज्यादा नहीं होना चाहिये। यदि Rs. 2000 से ज्यादा का Donation Cash में दिया गया है, तो इसकी आपको छूट प्राप्त नहीं होगी। इसलिए अगर आप दो हजार से ज्यादा का दान दे रहे है तो वह Cash के अलावा अन्य किसी mode में होना चाहिये।

सेक्शन 80 GG – भुगतान किए गए किराये की इनकम टैक्स (income tax) डिडक्शन

यदि आप एक बिज़नेस पर्सन है या ऐसे Salaried employee है जिनको HRA प्राप्त नहीं होता है, और अपने रहने के लिए किसी furnished या unfurnished घर के लिए किराये का भुगतान करते है, तो आप दिये गए किराये कि राशि की इस सेक्शन section में छूट प्राप्त कर सकते है।

Source :-  https://taxjankari.com/income-tax-deduction-other-than-80-c-in-hindi/

[taxolawgy123]

Procedure of Income Tax Filing In India

Filing for income tax returns in India can be confusing for some. Since it is a mandatory process this article will explain you the ITR filing procedure under taxation policy in India in the simplest way.

To begin with the basics, an income tax return is the tax form utilized ITR filing with the Income Tax Department. The tax return is normally in a predefined worksheet format where the income figures used to determine the tax liability are transcribed into the documents.

The law states that individual or business that receive income during the year must file ITR annually, whether through regular income (wages), bonuses, interest, capital gains or other sources. Tax returns, of an individual or a business, must be filed by a specific date without any fail.

In any of the subsequent cases, the Income Tax Department has made it compulsory to e-file your Return. Paper returns can only be filed by those who are above 80 years of age. Individuals or HUF whose income does not exceed 5,00,000 INR and who haven’t claimed a refund in the return of income can also file paper returns.

1.   Who is required to file income tax returns?

If you fall in any of the subsequent criteria under Taxation policy in India, then you must file an income tax return:

Less than 60 years of age and your total annual income exceeds 2,50,000 INR.

Senior citizen i.e. 60 years or above and below 80 years of age, and your total annual gross income surpasses 3,00,000 INR.

Super senior citizen i.e. 80 years or above and your total annual gross income exceeds 5,00,000 INR.

A company or a firm, regardless of profit or loss, filing ITR for the financial year is a requirement.

If you are looking forth to claiming a tax refund for the fiscal year.

An Indian citizen and act as a signing authority for any foreign account.

An Indian citizen and maintain an asset or business interest established outside India.

If you have traded equity shares in a company or unit of equity-oriented mutual funds or unit of business trust for more than 2,50,000 INR and have earned tax-exempt long-term capital gains from the same.

If you accept any income earned from the trade of a property which had been held under a charitable or religious trust, political party, educational institution, and any other authority, body or trust.

A foreign company which has been using any treaty benefit on any deal made in India.

An NRI (Non-Resident Indian) but if your cumulative yearly gross income earned or accrued in India exceeds 2,50,000 INR.

File ITR if you are looking for a loan. ITR filings are taken as legitimate income proofs. You will need them while opting for any kind of loan.

If you do not file an ITR even after falling into any of the preceding criteria, you are liable to respective penalties for the error.

2.   Mandatory Filing of Return in case of assets stationed outside India

Furnishing of return is compulsory in case of a person who fulfills the following conditions:

They are ordinary-residents in India or resident in India and is not under the obligation to furnish return u/s 139

Such a person at any time during the P.Y.

Someone who holds, as a profitable owner or otherwise, any asset positioned outside India

Is a possessor of any asset located outside India

However, if an individual is a beneficiary, they wouldn’t be required to file the return of income under this provision, where, `income, if any, resulting from such asset is included in the income of the person referred to above in accordance with the terms of the Income-tax Act,1961

3.   What is the Due Date for Income Tax Filing In India? The fiscal year 2018-19, AY 2019-20

The last day for filing Income Tax Returns for FY 2018-2019 for Individuals is 31st July 2019. 

Taxpayer Category

Tax Filing Due Date – FY 2018-19

Individual

31st July 2019

Body of Individuals (BOI)

31st July 2019

Hindu Undivided Family (HUF)

31st July 2019

Association of Persons (AOP)

31st July 2019

Businesses (Requiring Audit)

30th September 2019

Businesses (Requiring TP Report)

30th November 2019

  4.   Documents Needed for Filing Income Tax Returns

According to the Taxation policy in India 31st July is the final day to file your Income Tax Returns in India in any given financial year. The procedure of Income Tax Filing in India requires some preparation. This is why the Government provides you with four months’ window period to organize all documents like salary/income details, bank statements, previous tax statements, etc.

The procedure varies as per the income earned annually and income source like salary, business profit, investment profit, etc. Collating all your records is just one aspect of it.

Choosing the applicable ITR form

Taxpayers have to determine the appropriate ITR form for them in the AY 2019-20.

Link Aadhaar with PAN

It is compulsory for taxpayers to link Aadhaar with PAN for the AY 2019-20 on or before the filing of income tax returns.

For Salaried Employees

If you are a salaried employee, collect these documents to e-file your income tax returns in India. Go through this list to examine the documents you’ll need to pay your taxes.

PAN

Form-16 issued by your employer

Month-wise salary slips

From the AY 2019-20, it is necessary to gather the data on all taxable allowances received and the amount claimed excluded out of such allowances e.g., house rent allowance, leave travel allowance, etc., and reveal the same in the IT return.

Documents related to interest income

Bank statement or passbook for interest on the savings account.

Interest income statement for fixed deposits.

TDS document issued by banks and others.

Clear Tax automatically gives you tax benefit as per Section 80TTA when you register your income from savings account interest. You would not need every document listed here as they vary on a case-by-case basis.

Form 26AS

Form 26AS is an outline of taxes deducted on your behalf and taxes paid by you. This is given by the Income Tax Department. It shows aspects of tax deducted on your behalf by deductors, information on tax deposited by taxpayers and tax refund collected in the financial year. You can access the form, from the Income Tax Department’s website.

Section 80 Investments

Section 80C investment documents. The investments made under PPF, NSC, ULIPS, ELSS, LIC qualify for deductions under Section 80C.

Documents Required to Claim Expenses as Deductions

Keep these documents ready to claim the following expenses as deductions:

Your supplement to Provident Fund

Your offspring’s school tuition fees

Life insurance premium payment

Stamp-duty and registration charges

Principal repayment on your home loan

Equity Linked Savings Scheme/Mutual funds investment

The highest amount that can be claimed under Section 80C is Rs 1.5 lakhs

Additional Investment Documents

Interest paid on housing loan: Interest on housing loan is qualified for tax saving up to 2,00,000 for a self-occupied house. For let-out property, there is no limit of interest on housing loan qualified for tax saving till FY 2016-17.

From FY 2017-18, the total loss from house property available for set off against other income is bound at 2 lakhs INR and accordingly, interest on housing loan is suitable for tax saving up to 2,00,000 INR for let-out a property as well.

Education loan interest payments.

Stock trading statement: The stock trades that were produced during the year can possibly be taxed under Capital Gain.

 The Procedure for Filing Income Tax Return In India

Every year it is important to file ITR on time as there exists a late filing fee on overdue ITR filing.

One can fill the ITR form online. This step by step guide will help you file your ITR on time at the ease of your house 

Visit the e-filing website: https://incometaxindiaefiling.gov.in/

If you are a first-time user or filing your returns for the first time then click on the ‘New Registration’ tab and register yourself by providing important details and creating your profile and password. While creating your user ID, you must ensure that you have an active e-mail id and mobile number and it is cited correctly.

Communication from the Department

It is essential as communication by the department will be sent on this. You can finish the registration by clicking the activation link sent via an email and providing a one-time password (OTP) which you receive on your mobile. Click on the tab ‘Registered User’ if you have already registered yourself on the website. For any help, one can click on the ‘Customer Care’ tab to get the helpline number and contact the customer care centre.

Next click on the login tab and enter the required details: your User ID i.e. your PAN, password and captcha code. Click on the log-in button at the bottom to sign in.

After signing in, your account dashboard will show up as displayed in the image below. Click on the ‘e-file’ tab and select the ‘Income Tax Return’ option. Please note that the process of filing returns for FY 2017-18 has some new modifications done by the tax department. Therefore, the image has new screenshots.

Next, choose the assessment year, i.e., 2018-19, form i.e. either ITR-1 or ITR-4 and then submission mode – “Prepare and Submit Online”. Click on the tab “Continue”. For example, some screenshots of ITR-1 are provided below.

Here you will also be asked to select the option to verify your returns Three options are provided to verify your returns: a) Via Aadhaar OTP which is valid for 30 minutes, b) Generated EVC option through My Account or Bank ATM that is valid for 72 hours or c) by sending signed copy of ITR-V to, “Centralized Processing Centre, Income Tax Department, Bengaluru – 560500”.

After selecting one of these options, click on “Submit”. You also have a choice to fill your ITR form in Hindi. Select Language “Hindi” if you wish to change your language and then press “Continue”.

The website will redirect you to the page for filling the form chosen by you. Before starting to fill the ITR form, one should read the ‘General Instructions’ given at the start of the form to know do’s and don’ts.

After that, you will have to fill in the necessary data in various tabs i.e. ‘General Data’, ‘Revenue Details’, ‘Tax Details’ ‘Taxes Paid and Verification’ and ’80G’ in the ITR form. One should make sure that the Tax payable shown in the online form is the same as your calculations.

Before finalizing the submission, it is prudent to save the data and recheck it to evade any mistakes. Once you click the ‘Preview and Submit’ button, your form will appear, providing you with a “Preview” of your ITR filing form before completing the final submission.

Once you click ‘Submit’, your ITR will be uploaded. You will have to verify your return using any of the options available.

Click here to know 6 ways to verify your ITR.

For FY 2016-17, people had the choice to submit their ITR by utilizing their digital signature. They can select the option to digitally sign their ITR while submitting data of ITR form using which they want to file their return. However, for FY 2017-18, this option is not on display on the e-filing website when you submit the data.

You can verify your return either electronically using the Aadhaar OTP or Electronic Verification Code method or by the offline method of shipping a signed printout of the ITR V Document to CPC – Centralized Processing Center, Bangalore before 120 days from the date of e-filing.

You will receive an acknowledgement or an ITR V is simultaneously on your registered email once you upload your return successfully. This acknowledgement will also show up in your account on the e-filing website from where you can download it if required.

The department processes your ITR on verification by you. After your ITR is processed, you will be intimated about the same via email and SMS on your registered mobile number.

Consequences of failure to furnish return of income

Mandatory interest for delayed submission or non-submission of return:

Where an assessee files a return of income after due dates prescribed, interest at the rate of 1% for every month of delay in filing the return will be levied u/s 234A. Starting from the date promptly following the due date and ending on the following dates:

Circumstances Ending of the following dates:

Where the return is filed after the due date

Where no return has been furnished at the date of completion of the AY

Fee for default in furnishing return of income:

Where a person who is required to furnish a return of income u/1139, fails to do so within the prescribed time limit u/s139(1), he shall pay, by way of fee, a sum of:

5000 INR if they furnish the return on or before 31st December of the A.Y.

10,000 INR in any other case

However, if the total income of the person does not exceed 5,00,000 INR the fees payable shall not exceed 1,000 INR.

Willful failure to furnish return of income may also attract prosecution u/s 276CC. In case, the tax evaded exceeds 1 Lakh INR, there is rigorous imprisonment for a term of a minimum of 6 months and up to 7 years along with fine.

If individuals do not file the return, then the best judgment will be taken u/s 144.

Conclusion

We hope the complete process explains you everything about taxation policy in India and ITR Filing as per the standard procedure. In case you need legal or financial assistance please feel free to write to us at contact@taxolawgy.com and our experts will be happy to guide you.

[techsuvichar]

Infosys Ltd Final Dividend 2020-21 | Tax Deduction At Source On Dividend Payout | TDS | TechSuvichar

#Infosys #Infosysdividend #infosysresult #infosysdividendhistory​ #infosysbonushistory​

Demat account open go to below link free Demat account:

http://tinyurl.com/yynjktgs?

Video Link:

https://youtu.be/yf2adr85AtQ

Dear Shareholder,

We hope this communique finds you safe and in good health.

The Board of Directors of Infosys Limited (the Company) in their meeting held on April 14, 2021 have recommended a final dividend of Rs.15/- per equity share for the financial year ended March 31, 2021 subject to shareholders’ approval at the ensuing Annual General Meeting to be held on June 19, 2021.

From Finance Act 2020, dividend is taxable in the hands of the shareholders and the Company is required to deduct taxes at source (TDS) at the rates applicable.

As per the latest information available with the depositories (NSDL/CDSL) or by the Registrar and Share Transfer Agent [KFin Technologies Private Limited (formerly Karvy Fintech Private Limited)], you are a Resident Individual shareholder of the company and having a valid Permanent Account Number (PAN). If you remain as a shareholder on record date and aggregate of total dividend receivable by you from the company during the financial year does not exceed Rs. 5000, company is not required to deduct TDS as per the provisions of the Income Tax Act, 1961.

If there is any change in the above information, you are requested to update your records such as tax residential status, permanent account number (PAN), registered email address, mobile numbers and other details with your relevant depositories through your depository participants in case you are holding shares in dematerialized form. If you are holding shares in physical mode, you are requested to furnish details to the Company’s registrar and share transfer agent KFin Technologies Private Limited. In case of any change in the above information, the TDS implications will vary accordingly. The relevant TDS implications for other categories of shareholders can be accessed at https://www.infosys.com/investors/shareholder-services/dividend-tax.html.

The company has enabled the shareholder’s portal from the date of this communication. The portal can be accessed at https://www.infosys.com/investors/shareholder-services/dividend-tax.html.

Please reach out to us at dividend.tax@infosys.com for any queries.

Wishing you a safe stay.

Thanking you,

Regards,

for Infosys Limited

A.G.S. Manikantha

Company Secretary

Tags:

infosys share latest news, infosys share news, infosys share analysis,infosys share dividend history,infosys share bonus history,infosys share buyback history,infosys share bonus history in hindi,infosys share dividend and bonus history,infosys kitna dividend deta hai,should i buy infosys share,infosys share latest news,infosys share buyback news,infosys share dividend news,infosys bonus in 2021,when will infosys give bonus,infosys share correction,it sector correction,why infosys falling,infosys share analysis,infosys share bonus,tcs share,wipro share, infosys share,hcl share,tcs share dividend,infosys share dividend,hcl share dividend,wipro share dividend, infosys share bonus,hcl share bonus,wipro share bonus, infosys share dividend bonus,hcl share dividend bonus,wipro share dividend bonus,tcs dividend, tcs bonus,infosys dividend,infosys bonus,hcl dividend,hcl bonus, wipro dividend,wipro bonus,infosys share dividend history, infosys share bonus history, infosys share buyback history, infosys share dividend history in hindi, infosys share bonus history in hindi, infosys share buyback history in hindi, infosys share dividend and bonus history, infosys share dividend and bonus history in hindi,infosys share dividend history,infosys share bonus history,infosys share buyback history,infosys share dividend history in hindi,infosys share bonus history in hindi,infosys share buyback history in hindi,infosys share dividend and bonus history,infosys kitna dividend deta hai,should i buy infosys share,infosys share news,infosys share latest news,infosys share buyback news,infosys share dividend news,infosys bonus in 2021,when will infosys give bonus,infy bonus,Best company to buy in IT sector, large cap stock to buy for long term, infosys share analysis, infosys share analysis hindi, infosys share analysis, infosys share analysis hindi, infosys Share News, infosys Share Prediction, infosys Share Review, infosys Share Price Today, infosys Share Latest News, infosys Share Target, infosys Share Analysis, infosys Stock , infosys Stock Analysis, infosys Stock Technical Analysis, infosys Stock Latest News, infosys Stock News, infosys Stock Today, infosys Stock Price, infosys share price,infosys share q3 result 2021, Share Price , infosys Share News, infosys Share Prediction, infosys Share Review, infosys Share Price Today, infosys Share Latest News, infosys Share Target, infosys Share Analysis,

Best company to buy in IT sector,

@Tech Suvichar ​

[gokul2181]

Consumer News In Hindi : Income Tax ; TDS ; TCS ; TDS means deduction at source and TCS means tax collection at source. | TDS का मतलब स्रोत पर कटौती है और TCS का मतलब स्रोत पर टैक्स कलेक्शन से होता है

New Post has been published on https://jordarnews.in/consumer-news-in-hindi-income-tax-tds-tcs-tds-means-deduction-at-source-and-tcs-means-tax-collection-at-source-tds-%e0%a4%95%e0%a4%be-%e0%a4%ae%e0%a4%a4%e0%a4%b2%e0%a4%ac-%e0%a4%b8%e0%a5%8d/

Consumer News In Hindi : Income Tax ; TDS ; TCS ; TDS means deduction at source and TCS means tax collection at source. | TDS का मतलब स्रोत पर कटौती है और TCS का मतलब स्रोत पर टैक्स कलेक्शन से होता है

TDS अलग-अलग तरह के आय स्रोतों जैसे सैलरी या निवेश पर मिले ब्याज आदि पर काटा जाता है

TCS का भुगतान सेलर, डीलर, वेंडर, दुकानदार की तरफ से किया जाता है

दैनिक भास्कर

Jul 05, 2020, 09:25 AM IST

टैक्स डिडक्शन ऐट सोर्स (TDS) और टैक्स कलेक्शन ऐट सोर्स (TCS) टैक्स वसूल करने के दो तरीके हैं। TDS का मतलब स्रोत पर कटौती है। TCS का मतलब स्रोत पर टैक्स कलेक्शन से है। दोनों ही मामलों में रिटर्न फाइल करने की जरूरत होती है। हम आपको इनके बारे में बता रहे हैं।

क्या है TDS? अगर किसी की कोई आय होती है तो उस आय से टैक्स काटकर अगर व्यक्ति को बाकी रकम दी जाए तो टैक्स के रूप में काटी गई रकम को टीडीएस कहते हैं। सरकार टीडीएस के जरिए टैक्स जुटाती है। यह अलग-अलग तरह के आय स्रोतों पर काटा जाता है जैसे सैलरी, किसी निवेश पर मिले ब्याज या कमीशन आदि पर। कोई भी संस्थान (जो टीडीएस के दायरे में आता है) जो भुगतान कर रहा है, वह एक निश्चित रकम टीडीएस के रूप में काटता है।

क्या है TCS? TCS टैक्स कलेक्टेड ऐट सोर्स होता है। इसका मतलब स्रोत पर एकत्रित टैक्स (इनकम से इकट्ठा किया गया टैक्स) होता है। TCS का भुगतान सेलर, डीलर, वेंडर, दुकानदार की तरफ से किया जाता है। हालांकि, वह कोई भी सामान बेचते हुए खरीदार या ग्राहक से वो वसूलता है। वसूलने के बाद इसे जमा करने का काम सेलर या दुकानदार का ही होता है। इनकम टैक्स एक्ट की धारा 206C में इसे कंट्रोल किया जाता है। कुछ खास तरह की वस्‍तुओं के विक्रेता ही इसे कलेक्‍ट करते हैं। इन वस्‍तुओं में टिंबर वुड, स्‍क्रैप, मिनरल, तेंदु पत्‍ते शामिल हैं। इस तरह का टैक्‍स तभी काटा जाता है जब पेमेंट एक सीमा से ज्‍यादा होता है।

Source link

[insightonlinenews]

15 Measures to Revive Economy, Big Takeaways For MSMEs, NBFCs

Union Finance Minister Nirmala Sitharaman has come out with 15 new and some enhanced measures to revive businesses, and support workers via fiscal incentives and regulatory easing under the mega stimulus package — Self-Reliant India Movement — which was announced by Prime Minister Narendra Modi on Tuesday evening.

 Accordingly, on Wednesday, Sitharaman announced the slew of fiscal and regulatory measures for MSMEs, real estate, NBFCs, power distribution and general businesses and workers.

 She attempted to decrease the regulatory burden on companies while increasing the take-home pay of employees via these measures.

 In terms of takeaways, the biggest was for the MSME sector which is considered to be the backbone of economic activity.

 As a major reform measure for the sector, the Centre has decided to give a new definition to MSMEs.

 This will denote the type of companies that will be included in the sector. Specifications wise, the investment limit for defining MSMEs has been revised upwards.

 Besides, she highlighted that additional criteria such as turnover have been considered for defining MSMEs.

 In terms of fiscal measures, the Minister announced that Rs 3 lakh crore “Collateral-free Automatic Loans” for businesses, including MSMEs, will be provided to meet operational liabilities built up, buy raw material and restart the business.

 She announced another scheme worth Rs 20,000 crore for “Subordinate Debt for Stressed MSMEs”.

 A Rs 50,000 crore “Fund of Funds” for MEMEs which face a severe shortage of equity was also announced.

 The Centre has also decided not to go in for global bidding for government procurement for tenders up to Rs 200 crore, thereby, promoting the participation of MSMEs, she said.

 Furthermore, e-market linkage for MSMEs will be provided and that the CPSEs will pay all receivables to MSMEs within 45 days.

 Besides MSMEs, a Rs 30,000 crore special liquidity scheme for non-banking finance companies (NBFCs), housing finance companies (HFCs) and micro-finance institutions (MFIs) was announced.

 This scheme will provide investments in both primary and secondary market transactions in “investment grade debt paper of these institutions”.

 The minister said the scheme will support the previous initiatives of the government and the central bank to boost liquidity.

 The securities under the scheme will be fully guaranteed by the Central government. Further, the FM has also announced Rs 45,000 crore partial credit guarantee scheme for NBFCs.

Under this measure, the first 20 per cent loss will be borne by the Centre, and even unrated papers will be eligible for investment, enabling NBFCs to reach out even to MSMEs in far-flung areas.

 Additionally, a Rs 90,000 crore liquidity injection plan was announced for the financially stressed power distribution companies.

 This plan will allow these entities to clear their dues towards power generation companies.

 As per the plan, the liquidity window for discoms was essential as its revenue has plummeted and they are in the midst of unprecedented cash flow problem accentuated by demand reduction during the current lockdown.

 The scheme will allow power sector financiers — PFC and REC to infuse liquidity of Rs 90,000 crore to discoms against receivables.

 Loans will be extended against State guarantees for the exclusive purpose of discharging liabilities of discoms to gencos.

 Apart from discoms, relief steps for the real estate industry were also announced.

 The Minister stated that Union Ministry for Housing and Urban Affairs will issue advisory to states and union territories to declare the Covid-19 situation as a ‘force majeure’ under the Real Estate (Regulation and Development) Act.

 With this move, the government has allowed the suo-moto extension of the registration and completion date by six months for all registered project expiring on or after March 25, 2020, without individual applications.

 Simultaneously, to give regulatory relief to businesses Sitharaman announced a six-month extension of contracts for contractors by all central agencies and departments including railways, the Central Public Works Department, and Ministry of Road Transport & Highways.

 The extension would not come with any cost for the contractors, she said. This scheme covers construction works and goods and services contracts.

 It also applies on obligations like completion of work, intermediate milestones and extension of concession period in public-private partnership contracts.

 The minister also announced that government agencies will partially release bank guarantees, to the extent contracts are partially completed, to ease cash flows.

 Finally to provide more money into the taxpayers’ hands, Centre decided to reduce the TDS (tax deduction at source) rates for non-salaried specified payments made to residents, and the TCS (tax collection at source) rates by 25 per cent for the specified receipts.

 Sitharaman said the move would release Rs 50,000 crore liquidity.

 As per the announcement, the reduced TDS rate will be applicable to the payment for a contract, professional fees, interest, rent, dividend, commission and brokerage. It will be applicable for the remaining part of FY21 — from May 14 to March 31, 2021.

 Speaking to the media, Finance Minister pointed out the due date of all income tax returns for FY 2019-20 will be extended from July 31, 2020, October 31, 2020, to November 30, 2020, and tax audit from September 30, 2020, to October 31, 2020.

 The government has also extended the date of assessments getting barred on September 30, 2020, to December 31, 2020, and those getting barred on March 31, 2021, to September 30, 2021.

 In another major move for businesses and charitable trusts, Sitharaman announced that all pending refunds to charitable trusts and non-corporate businesses and professions, including proprietorship, partnership, LLP and co-operatives, shall be issued immediately.

 In addition, she announced a further extension of the deadline for settling tax disputes under the Vivid se Vishwaas scheme without paying any interest and penalty to December 31, 2020, from June 30, 2020.

 “The sectors covered in the initial phase are clearly the ones that required the highest policy attention at this juncture, including MSME, power, and construction and real estate. The impact of the package totalling Rs 20 lakh crore to be unveiled in the next few days would add to spending power and bring relief to millions of enterprises that employ huge numbers of workers. We expect the stimulus measure to impart stability and growth to the economy,” said Vikram Kirloskar, President, Confederation of Indian Industry.

 According to Ficci’s President Sangita Reddy: “The greatest takeaway from today’s announcement was the clear focus on getting liquidity flowing into the system.”

 “Besides liquidity, we need to give equal focus on generating consumption demand and propping up investments. We hope that in the next set of announcements, these areas will be taken up in a comprehensive manner as well.”

 On its part, Assocham’s Secretary General Deepak Sood said: “The Rs 3 lakh crore collateral-free loans for the MSMEs on a guarantee from the government would have a big-time multiplier impact and would generate economic activity of at least up to Rs 10 lakh crore, not only retaining the jobs but also creating additional employment.”

 He further said, treating COVID-19 as an ‘act of God’ and allowing the real estate developers extra six months for completion of projects would help both the developers and the consumers as it would make the sector viable.

 Sood listed reduction in the TDS by 25 percentage points as a demand-boosting measure along with a cut in the EPFO deductions from 12 to 10 per cent.

 Industry body PHD Chamber’s President D.K. Aggarwal said the liquidity injection of Rs 90,000 crore for DISCOMs will significantly help the power sector in mitigating the impact of demand deduction amid pandemic COVID-19 scenario.

 Source: Trusted Online News Portals in India

 Bihar News Patna |  Latest Jharkhand News in Hindi | Entertainment News India | Top Environment News |

[celebritylive]

We are familiar to the noticeable presence of extras in literally every Bollywood film. The people who form the crowd on streets, in weddings, at a restaurant or almost anywhere else earn a wage by making a minuscule appearance on the big screen. However, it seems to have struck the Income Tax Department's attention of late.

As reported by a leading daily, the IT Department suspects that some leading production houses of the industry are not levying enough tax while paying the extras. Last week, it also conducted a survey on seven of them, including Karan Johar's Dharma Productions, Ritesh Sidhwani and Farhan Akthar's Excel Entertainment, Dinesh Vijan's Maddock Films and Ekta Kapoor's Balaji Telefilms.

While the extras now pay a TDS (Tax Deducted At Source) of 2% on their wage, they should supposedly pay 10% TDS. Notably, the stars of the films as well as other actors also pay 10% TDS, since they are all 'skilled artistes'.

Will the taxation for extras be reformed now? A source informed the daily that no final decision is yet taken.

Also Read: SCOOP: Karan Johar’s Dharma Productions to develop Student of the Year spin off show for Netflix

from Latest Bollywood News | Hindi Movie News | Hindi Cinema News | Indian Movies | Films - Bollywood Hungama https://ift.tt/38VzvUF

[vsplusonline]

नए-पुराने टैक्स स्लैब में कितना लगेगा टैक्स, अब घर बैठें ऐसे लगाएं पता

New Post has been published on https://apzweb.com/%e0%a4%a8%e0%a4%8f-%e0%a4%aa%e0%a5%81%e0%a4%b0%e0%a4%be%e0%a4%a8%e0%a5%87-%e0%a4%9f%e0%a5%88%e0%a4%95%e0%a5%8d%e0%a4%b8-%e0%a4%b8%e0%a5%8d%e0%a4%b2%e0%a5%88%e0%a4%ac-%e0%a4%ae%e0%a5%87%e0%a4%82/

नए-पुराने टैक्स स्लैब में कितना लगेगा टैक्स, अब घर बैठें ऐसे लगाएं पता

सरकार ने बजट में करदाताओं को आयकर रिटर्न भरने के दो विकल्प दिए

ई-कैलकुलेटर (e-calculator) के जरिये टैक्सपेयर्स अगर छूट और कटौती को छोड़ते हुए नये कर स्लैब (New Tax Slab) के तहत आयकर रिटर्न भरने (ITR filing) विकल्प चुनते हैं तो वे अपनी टैक्स देनदारी का आकलन कर सकेंगे. सरकार ने बजट में करदाताओं को आयकर रिटर्न (Income Tax Return) भरने के मामले में विकल्प दिया है.

नई दिल्ली. आयकर विभाग (Incoem Tax Department) ने लोगों के लिये कर देनदारी (Tax Liability) का पता लगाने के लिये ई-कैलकुलेटर (e-calculator) पेश किया है. इस कैलकुलेटर के जरिये आयकरदाता अगर छूट और कटौती को छोड़ते हुए नये कर स्लैब (New Tax Slab) के तहत आयकर रिटर्न भरने (ITR filing) विकल्प चुनते हैं तो वे अपनी कर देनदारी का आकलन कर सकेंगे. सरकार ने बजट में करदाताओं को आयकर रिटर्न (Income Tax Return) भरने के मामले में विकल्प दिया है.

कैलकुलेटर विभाग की आधिकारिक ई-फाइलिंग वेबसाइट-https://www.incometaxindiaefiling.gov.in पर उपलब्ध है. इसमें करदाता यह देख पाएंगे कि पुरानी और नई कर व्यवस्था में उन्हें कितना कर देना होगा. ये भी पढ़ें: इनकम टैक्स डिपार्टमेंट ने किया सावधान! ये SMS खाली कर सकता हैं आपका बैंक खाता

वेब पोर्टल का उपयोग विभिन्न श्रेणी के करदाता इलेक्ट्रॉनिक आयकर रिटर्न (ITR) भरने में करते हैं. इसके जरिये सामान्य नागरिक (60 साल से कम), वरिष्ठ नागरिक (Senior Citizen) (60 से 79) और अति वरिष्ठ नागरिक (Super Senior Citizen) (79 साल से ऊपर) सभी स्रोत से अपनी सालाना आय, कुल कटौती (Deductions) और छूट (Exemptions) का आकलन कर यह पता लगा सकते हैं कि पुरानी या नई व्यवस्था में उनकी कर देनदारी कितनी बनेगी.ये है नई टैक्स स्लैब बजट में व्यक्तिगत आयकर (Individual Income Tax) की नई व्यवस्था में 2.5 लाख रुपये से 5 लाख रुपये पर 5 प्रतिशत की दर से, 5 से 7.5 लाख रुपये पर 10 प्रतिशत, 7.50 से 10 लाख रुपये पर 15 प्रतिशत, 10 लाख रुपये से 12.5 लाख 20 प्रतिशत और 12.5 से 15 लाख रुपये की आय पर 25 प्रतिशत तथा 15 लाख रुपये से ऊपर की आय पर 30 प्रतिशत की दर से कर लगाने का प्रस्ताव किया गया है. ये भी पढ़ें: PPF, सुकन्या समेत इन सभी सरकारी योजनाओं में कम हो सकता हैं मुनाफा, RBI ने दिए संकेत

  मौजूदा टैक्स स्लैब

मौजूदा आयकर व्यवस्था में 50,000 रुपये की मानक कटौती और आयकर कानून की धारा 80C के तहत एलआईसी प्रीमियम (LIC Premium), भविष्य निधि समेत विभिन्न बचत योजनाओं में 1.5 लाख रुपये तक के निवेश पर छूट जैसे प्रावधान लागू हैं. इसमें विभिन्न आय स्तरों पर 5 प्रतिशत, 20 प्रतिशत और 30 प्रतिशत की दर से कर लगता है.

ये भी पढ़ें: RBI के फैसले से आपके फिक्सड डिपॉजिट (FD) पर होगा ये असर, जानिए कितना घटेगा या बढ़ेगा मुनाफा!

News18 Hindi पर सबसे पहले Hindi News पढ़ने के लिए हमें यूट्यूब, फेसबुक और ट्विटर पर फॉलो करें. देखिए मनी से जुड़ी लेटेस्ट खबरें.

First published: February 6, 2020, 4:56 PM IST

function serchclick() var seacrhbox = document.getElementById("search-box"); if (seacrhbox.style.display === "block") seacrhbox.style.display = "none"; else seacrhbox.style.display = "block";

document.addEventListener("DOMContentLoaded", function() document.getElementById("search-click").addEventListener("click", serchclick); /* footer brand slider start */ new Glide(document.querySelector('.ftrchnl-in-wrap'), type: 'carousel', perView: 8, ).mount(); ); !function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n; n.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window, document,'script','https://connect.facebook.net/en_US/fbevents.js'); fbq('init', '482038382136514'); fbq('track', 'PageView'); Source link

[webart-studio]

Prime 10 enterprise headlines: Price range 2019, RIL outcomes, farm earnings, and extra

I-T dept holds again Rs 20,000 crore in tax refunds to non-public, PSU corporations

The income-tax (I-T) division has determined to not launch many high-value refunds claimed by corporates and public sector items for the monetary yr 2016-17, citing causes comparable to discrepancies within the credit score of tax deducted at supply (TDS), carry ahead losses, and pending tax demand for the earlier years, stated two sources aware of the event. Learn on

RIL Q3 internet revenue up 8.8% to Rs 10,251 cr on petrochem, retail, telecom

Oil to telecom conglomerate Reliance Industries (RIL) posted a internet revenue of Rs 10,251 crore for the December quarter, an increase of 8.Eight per cent from a yr earlier than. This was enabled by report efficiency in its petrochemicals, retail and telecom companies. It turns into the primary personal sector Indian firm to cross Rs 10,000 crore in revenue. Consolidated income grew 55.9 per cent to Rs 1.71 trillion. In a Bloomberg ballot, eight analysts had estimated Rs 1.four trillion for the quarter and revenue of Rs 9,609 crore. Learn extra

HUL Q3 internet revenue rises 8.9% to Rs 1,444 crore; quantity progress at 10%

The nation’s largest shopper items firm, Hindustan Unilever (HUL), on Thursday delivered its fifth straight quarter of double-digit quantity progress for the three months ended December 2018 at 10 per cent, because the agency reined in value hikes amid a difficult macro-economic atmosphere. Click on right here to learn

Labored in mission mode to double farm earnings by 2022: Radha Mohan Singh

Earlier than the Nationwide Democratic Alliance (NDA) authorities, took workplace in 2014 beneath Narendra Modi’s management, farmers had been dropping curiosity in agriculture because of a rise in cultivation value relative to their earnings, Agriculture Minister Radha Mohan Singh on Thursday. He was delivering the keynote handle on the second version of the Enterprise Customary Agriculture Spherical Desk in New Delhi’s PUSA Campus. Learn on

Price range content material will likely be determined by financial realities, says Jaitley

Finance Minister Arun Jaitley stated on Thursday that the interim Price range, to be introduced on February 1, will likely be throughout the current conventions. Its contents, nevertheless, will likely be dictated by financial compulsions and realities of the day, he added. Learn extra

The rise and fall of Naresh Goyal, the high-flying promoter of Jet Airways

He started as a cashier in his uncle’s journey company and went on to turn into the chairman of India’s second largest airline by market share, however Naresh Goyal’s lengthy and eventful rein on the helm of Jet Airways is about to finish quickly. Click on right here to learn

With AI-based expertise, Amazon’s Make In India improvements going international

After its success within the Indian market, international e-commerce large Amazon is now taking few of its India-specific improvements round synthetic intelligence (AI) and knowledge analytics to a few of its international markets. Learn extra

Infosys co-founder Narayana Murthy to get his personal biopic

A biopic on Infosys Ltd co-founder N.R. Narayana Murthy, considered one of India’s most celebrated entrepreneurs, is within the works, in line with a Livemint report. However that is one film that’s unlikely to characteristic a song-and-dance sequence, normal fare in most Hindi movies. Filmmaker Sanjay Tripathy first approached Murthy about eight months in the past and is now engaged on the script of the movie, two executives acquainted with the event stated, requesting anonymity.

For IndiGo, no evenings in Paris, no nights in London

IndiGo has for now stalled its co-founder Rakesh Gangwal’s bold plans to fly low value lengthy haul flights to Europe, as prices mount and margins are squeezed, in line with The Financial Time report.

Deep in debt, Rolta India goes into stand-by mode

A Rs 2,500-crore deal to divest the merchandise and options enterprise that didn’t materialise and the shortcoming to restructure bonds have landed India’s high info expertise firm Rolta India in some deep hassle, in line with a The Hindu BusinessLine report. To provide itself some room for monetary manoeuvrability, the corporate has introduced downsizing of its international workforce of three,000 workers and has requested many to resign.

!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0;t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,document,'script','https://connect.facebook.net/en_US/fbevents.js');fbq('init','550264998751686');fbq('track','PageView'); Supply hyperlink

source https://webart-studio.com/prime-10-enterprise-headlines-price-range-2019-ril-outcomes-farm-earnings-and-extra/

[tokyoconsultingfirm-blog]

Setting up a Business in India

While India is very transparent with its procedure and laws to set up a business in India, it’s still a taxing task to be able to do so in a swift manner. Most foreign investors face a language barrier as most people in government offices in India still speak Hindi or aren’t fluent in English; this creates a communication gap between the officials and the owner of the business. To avoid this hassle, here is a list of the most important things that one must take care of when setting up a business in India:-

·Director Identification Number (DIN): DIN’s were made compulsory in the Companies Act of 1956. This unique identification number was created to ensure that the authorities had all the relevant information about an existing or a possible director, to ensure no cases of fraud go unchecked. To get the DIN, go to the website of the Ministry of Corporate Affairs, and fill out the form online, following which it has to be printed and sent to the MCA for approval along with relevant proofs of identity and address.

·Digital Signature Certificate: A Digital Certificate contains the Digital Signature of any certificate-issuing authority, and is a must for the DIN holder to have to be able to successfully set up a business in India. The process of getting a DSC is like that of the DIN and this form can also be found on the website of the Ministry of Corporate Affairs.

·Company Name Approval: The next and the most obvious step for setting up a business is getting the name of your company approved. This must be done, also via the website of the Ministry of Corporate Affairs. After checking the availability of the desired names, the applicant must submit a most of 6 company names, one of which gets approved and is cleared for the applicant to use.

·Certificate of Incorporation: This certificate is a legal document relating to the formation of a company. Issued by the state government, the Certificate of Incorporation is the most important document while setting up any business in India; the form is available on the website of the Ministry of Company Affairs, and copies of the consent of all the initial directors are enclosed along with it and sent for an approval. Once approved, the document is sent to the registered address of the company.

·Permanent Account Number (PAN): If you don’t have one already, the next step is to get a PAN number for yourself which is obtained by filling form 49A.

·Tax Account Number (TAN): The ‘Tax Deduction and Collection Account Number’, which is known as TAN, is an identification number issued to those who have to deduct the tax at TDS or the source. It is issued by the Income Tax Department, and is a must-have for any employer and hence is required while setting up any business in India.

·Registration with the Office of Inspector, Shops and Establishment Act: The employer’s name, along with the name of the managers & establishment, postal address and category is sent to the office of the local shop Inspector. This registration must be done within 30 days of setting up your business.

· GST Registration: If the annual turnover of any business in India is over the 20 lakh, it has to be registered for GST. This case holds for almost all businesses and hence it is advisable to get your business registered as well. You can do that here.

Once all these steps have been taken care of, the process of setting up your business in India is well and truly covered, and it’s time to start working and reap the subsequent rewards. 

If you are interested in getting specialized assistance for setting up your business, visit our website for more information.

[nscas]

Requirement of tax deduction at source in case of entities whose income is exempted under Section 10 of the Income-tax Act, 1961 - Exemption thereof.

CIRCULAR No. 18 /2017

F. No. 385/01/2015-IT (B)

Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

******

North Block, New Delhi

29th May, 2017

Subject: Requirement of tax deduction at source in case of entities whose income is exempted under Section 10 of the Income-tax Act, 1961 - Exemption thereof.

The Central Board of Direct Taxes (the Board) had earlier issued Circular No. 4/2002 dated 16.07.2002 and Circular No. 7/2015 dated 23.04.2015 which laid down that in case of such entities, whose income is unconditionally exempt under Section 10 of the Income-tax Act (the Act) and who are also statutorily not required to file return of income as per Section 139 of the Act, there would be no requirement for tax deduction at source (TDS) from the payments made to them since their income is anyway exempted from tax under the Act. The issue of whether exemption from TDS can be extended to more entities on these principles and whether the exemption is needed to be withdrawn in respect of some of the exempted entities was examined by the Board.

2. Examination of the eligibility of entities for exemption from TDS on the principle of unconditional exemption and no requirement to file return revealed that Circulars No. 4/2002 and 7/2015 are required to be updated to make the following changes:

Entities that meet both the above mentioned conditions but are not mentioned in the aforesaid Circulars need to be included in the list of exempted entities.

Entities that are mentioned in Circular No. 4/2002 but their exemption from income tax has since been withdrawn need to be removed from the list of exempted entities.

Entities that are mentioned in Circular No. 4/2002 but because of subsequent amendment they are now required to mandatorily file their returns of income u/s 139 need to be removed from the list of exempted entities.

3. In view of the above, a revised list of entities exempted from TDS has been drawn by adding entities in the first category listed above to the entities mentioned in Circular No. 4/2002 and Circular No. 7/2015 and removing entities in second and third categories from the list of existing entities eligible for exemption from TDS.

4. Accordingly, it has been decided that in case of below mentioned funds or authorities or Boards or bodies, by whatever name called, referred to in section 10 of the Income-tax Act, whose income is unconditionally exempt under that section and who are also statutorily not required to file return of income as per section 139 of the Income-tax Act, there would be no requirement for tax deduction at source, since their income is anyway exempt under the Income-tax Act -

(i) "local authority", as referred to in the Explanation to clause (20);

(ii) Regimental Fund or Non-public Fund established by the armed forces of the Union referred to in clause (23AA);

(iii) Fund, by whatever name called, set up by the Life lnsurance Corporation of India on or after 1st August, 1996, or by any other insurer referred to in clause (23AAB);

(iv) Authority (whether known as the Khadi and Village Industries Board or by any other name) referred to in clause (23BB);

(v) Body or authority referred to in clause (23BBA);

(vi) SAARC Fund for Regional Projects set up by Colombo Declaration referred to in clause (23BBC);

(vii) lnsurance Regulatory and Development Authority referred to in clause (23BBE);

(viii) Central Electricity Regulatory Commission referred to in clause (23BBG);

(ix) Prasar Bharati referred to in clause (23BBH);

(x) Prime Minister's National Relief Fund referred to in sub-clause (i), Prime Minister's Fund (Promotion of Folk Art) referred to in sub-clause (ii), Prime Minister's Aid to Students Fund referred to in sub-clause (iii), National Foundation for Communal Harmony referred to in sub-clause (iiia), Swachh Bharat Kosh referred to in sub-clause (iiiaa), Clean Ganga Fund referred to in sub-clause (iiiaaa) of clause (23C);

(xi) Provident fund to which the Provident Funds Act, 1925 (19 of 1925) referred to in sub-clause (i), recognized provident fund referred to in sub-clause (ii), approved superannuation funds referred to in sub-clause (iii), approved gratuity fund referred to in sub-clause (iv) and funds referred to in sub-clause (v) of clause (25);

(xii) Employees' State Insurance Fund referred to in clause (25A);

(xiii) Agricultural Produce Marketing Committee referred to in clause (26AAB);

(xiv) Corporation, body, institution or association established for promoting interests of members of Scheduled Castes or ScheduIed Tribes or backward classes referred to in clause (26B);

(xv) Corporation established for promoting interests of members of a minority community referred to in clause (26BB);

(xvi) Corporation established for welfare and economic upliftment of ex-servicemen referred to in clause (26BBB);

(xvii) New Pension System Trust referred to in clause (44).

4. This circular supersedes earlier Circulars on this issue e.g. Circular No. 4/2002 dated 16.07.2002 and Circular No. 7/2015 dated 23.04.2015 with effect from the date of issue of this Circular.

5. Hindi version shall follow.

(Sandeep Singh)

Under Secretary to the Govt. of India

Tele: 2309 4182

Email: sandeep.singh68@nic.in