Income Tax Department clarifies on erroneously sent notices under Section 80 P
Days after several income tax payers had received notices for wrongly claiming tax deductions under Section 80 P, the Income…
Days after several income tax payers had received notices for wrongly claiming tax deductions under Section 80 P, the Income…
The president was speaking to officer trainees of the 76th batch of the IRS and Assistant Executive Engineers of CPWD (2020 and 2021 batches) who called on her at the Rashtrapati Bhavan.
On giving tax relief to persons with disability, Sitharaman said the law currently provides for deduction to the parent or guardian when they take an insurance scheme for the differently abled person only if the lump sum payment or annuity is available to the differently abled person on the death of the subscriber.
The Food and Civil Supplies Department has been able, with the help of the Income Tax Department, to identify the rich people who have taken BPL cards, Karnataka Food and Civil Supplies Corporation Ltd Commissioner, Dr Shamla Iqbal, said.
KMC board chairman Firhad Hakim said those taxpayers who have received the KMC property tax bill till 31 March in the financial year 2019-20 will be eligible for the tax waiver.
In a tweet earlier in the day, PM Modi said the initiative will strengthen the Government's efforts of reforming and simplifying the tax system and will benefit several honest taxpayers, whose hard work powers national progress.
The Central Board of Direct Taxes has extended the deadline in view of some taxpayers facing difficulties in filing their ITR due to various reasons including the extension of due date for issue of Form 16
Speaking of the country's progress in the startup scenario he said that India is currently ranked third globally in terms of startup ecosystem.
The CBDT also said the average income of salaried, non-salaried and corporate taxpayers has risen over the last three years.
The brilliant minds that had crafted the GST architecture and drafted the related statutes should have given a little thought to the fact that to roll out such a hugely complicated tax system driven entirely by technology was likely to create problems with dealers and traders who may not have touched a mouse or keyboard in their lives, and provided for an easier and more user-friendly alternative.