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Finance Bill 2017 News
Finance Bill 2017
7th Pay Commission: Central govt employees may have to pay income tax on allowances
Wed, Aug 09, 2017
The basic salary, bonus, allowances and other arrears as per 7th Pay Commission will come under the ambit of Income Tax as proposed in Finance Bill, 2017 which will lead government employees to pay tax on allowances.
100% penalty if Rs 2 lakh or more transacted in cash, warns IT Department
Fri, Jun 02, 2017
Income Tax Department, in an advertisement, has warned people for not transacting in cash for Rs 2 lakh or more.
Income Tax Department to launch simplified e-filing of ITR form from April 1
Wed, Mar 29, 2017
Income Tax Department will introduce simplified e-filing of Income Tax return form on April 1 this year which will do away with some columns while filing the the IT returns.
Here's all you need to know about "Gift Tax"
Mon, Feb 06, 2017
Talking to Zeebiz, Archit Gupta, Founder & CEO ClearTax.com, said that the Section 56 says that incomes which do not form part of other income heads are included in ‘income from other sources’.
Govt rules out tax incentive beyond Rs 2 lakh for second home
Sat, Feb 04, 2017
"Government resources are very very limited. The question is should the government be subsidising first-time home owners who are occupying own house or should the government be subsidising the second acquisition of the property by people who have got surplus money to invest in real estate," Adhia said while addressing industry representatives here.