Old Tax Regime slabs vs New Tax Regime slabs for senior citizens: Income Tax return filing is a mandatory exercise for all Indian citizens, salaried, non-salaried, senior citizens. According to the Income Tax department, an individual resident who is 60 years or above in age but is less than 80 years at any time during … Read more
Several companies and individuals who may have avoided paying taxes have come under the taxman’s lens following an elaborate investigation based on application of data analytics and machine learning and robust data sharing between various tax authorities. The government has used statistics of the last two financial years to create the audit checklist. Tax department … Read more
NEW DELHI: Private sector employees who opt to spend their leave travel allowance on the purchase of consumer goods, along the lines of the latest scheme unveiled for central government employees, will be eligible for tax exemption.“Tax benefit would be available… Mechanism is being examined and a clarification would be issued shortly,” a government official … Read more