Income Tax & TDS: Updates

FM Sitharaman : Income Tax Portal Issues To Be Resolved Soon

With glitches still haunting the new income tax portal, Finance Minister Nirmala Sitharaman on Wednesday said she wished the Infosys-developed website did not have such a launch but hoped issues will be sorted out soon. Sitharaman said Infosys had done trial runs before the June 7 launch but users faced technical issues in accessing the …

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Services of NACH will Available 7 Days A Week: Salary, Pension And EMI Payment Rules To Change From August 1

Services of NACH will now be available seven days a week. Currently, facilities are available only when banks are open, from Monday to Friday. You no longer have to wait for a working day for important transactions like salary, pension and EMI payments. RBI has changed the rules of the National Automated Clearing House (NACH). …

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New Income Tax E-Filing Portal – 90 Unique Problems Received

Suggestions in respect of the glitches on the New Income Tax portal were invited online. More than 700 emails detailing over 2000 issues including 90 unique issues/problems in the portal were received from various stakeholders including ICAL tax professionals and tax payers. Moreover, multiple interactions have been held with the representatives from ICAI and tax …

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New Income Tax E-Filing Portal: A Leading or A Limping Solution

The Indian government has been extolled for the many new initiatives on the digital front that has been introduced encompassing various aspects of the economy. Digitalisation has taken the world by storm and India has also been in the forefront of introducing new digital measures across the economy. This year’s Budget was also a digital …

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Salaried Employee: Payments, Investments And Incomes Will Give You Tax Benefits In 2021

Income Tax Deductions for AY 2021-22: The Income Tax Return (ITR) filing season has started. The Central Government recently increased the deadline for ITR filing for the assessment year 2021-22 from July 31 to September 30, 2021, in view of the second wave of Covid-19 pandemic and the subsequent difficulties faced by taxpayers. As you now …

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Freelancing For A Salary? Know Income Tax Implications

Amidst the economic uncertainties caused due to the pandemic, the trend of taking up jobs on a freelance basis has gained prominence. Here in this discussion, we shall take a dive in this issue from various perspectives and specifically from the tax perspective. Freelancing generally means being temporarily hired for undertaking and completing specific assignments. You get paid …

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5 Big Tax Reliefs Announced By The Government For Taxpayers

In order to provide relief to the taxpayers facing the hardship due to covid 19, the government has announced certain tax benefits and compliance reliefs for the taxpayers. Here are some of the important announcements that you should know about. 1) No tax on the amount received by employees from employers or any other person …

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