Income Tax Rules News

Money

New income tax rules: No escape just by paying penalty

The new guidelines kicked in from this Monday and applies to all cases for compounding received on or after June 17The revised guidelines issued by the Income Tax Department have made serious offences under black money and benami laws 'generally' non-compoundable

2 min read18 Jun 2019
Money

10 changes in income tax rules this year

Important changes in income tax rules that you need to be aware of

3 min read24 Dec 2018
Money

How much tax do you pay on your equity investments?

Here's a look at various taxes you have to pay on your equity investments

1 min read19 Dec 2018
Companies

PAN card rules to change from this Wednesday. List of new amendments in Income Tax Rules, 1962

The government has amended Income Tax Rules, 1962, and has inserted new clauses. According to the new rules, having a PAN card is mandatory for all entities doing business of at least ₹2.5 lakh. The second amendment allows those with single mothers to not mention their father's name in PAN card application forms.

1 min read3 Dec 2018
Mutual Funds

Mutual fund taxation rules – How gains, dividends are taxed in 10 points

The capital gains tax on mutual fund returns depend on which type of fund it is equity or debt. Similarly, the tax on dividend from mutual funds also depend on fund type.

2 min read17 Sep 2018
Politics

Father’s name not mandatory for PAN

The govt has proposed to amend rules under Income Tax Act to ensure that children of single mothers do not face any hassle in securing the PAN allotted to each taxpayer by the tax department

1 min read2 Sep 2018
Money

Do you need to file income tax return (ITR) if TDS is paid?

Irrespective of whether your employer has deducted tax at source (TDS) on your salary or you have paid tax on your own, you should file your income tax return (ITR) if you fit certain criteria

1 min read3 Jul 2018
Money

Income tax rules: What is standard deduction?

Standard deduction has gone up by ₹5,800 (Rs 40,000-Rs 34,200), helping a person in the highest income tax slab save ₹1,810

1 min read12 Jun 2018
Politics

Govt may drop proposal on self-reporting of income estimates, tax payments

In view of the adverse comments on the proposal for self-reporting mechanism for income estimates, tax payments on voluntary compliance basis, the finance ministry may not be keen on introducting Rule 39A in the income tax rules

2 min read14 Jan 2018
Politics

Income Tax Rules on bank deposits: Key highlights as of 28 November

Finance minister Arun Jaitley introduced the taxation laws (second amendment) bill, 2016 in the Lok Sabha on Monday

1 min read29 Nov 2016
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