TAX RETURN

Thing to Always Keep In Mind: Burden to File Income Tax Return Is Always On Assessee [Based On Judgement]

It Is Upon Taxpayer to Prove That He Has No Any Intention Of Committing Any Offense: Madras High Court

Madras High Court has recently ruled in a case that the burden to file income tax return is on the assessee. In this case, the petitioner has relied on the fact that he is not required to file ITR due to difference between data as reflected in Form 16 and Form 26AS. This is the …

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PF Threshold Limit Raised to Rs. 5 Lakhs for Tax-Free Interest

PF threshold limit raised to Rs. 5 lakhs for tax-free interest PF threshold limit raised to Rs 5 lakh for tax-free interest where there is no contribution by employer. In the Union Budget 2021, FM had provided that interest on employee contributions to provident fund over Rs 2.5 lakh per annum would be taxed from …

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Concessional 5% withholding tax continues for debt interest income of FPIs

Concessional 5% withholding tax continues for debt interest income of FPIs The Income Tax department on Wednesday said that concessional rate of tax of 5 per cent shall continue for certain interest income of foreign portfolio investors. Clarifying on reports which said that concessional withholding tax rate of 5 per cent on interest income of …

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