Tax Filing Archives - GroYourWealth.com

Budget 2025: Simplification of TDS on house deals, 182-Day Rule – key expectations of NRIs

18 January 2025 by Admin

As Finance Minister Nirmala Sitharaman prepares for the Budget 2025 announcements, many taxpayers, including Non-Resident Indians (NRIs), are anticipating long-awaited relief. NRIs are hoping for some changes to the 182-day residency criteria and simplification of Tax Deducted at Source (TDS) requirements for selling properties in India. These initiatives could help address ongoing challenges faced by … Read more

IPL Auction 2025: How Rishabh Pant, Mitchell Starc, Vaibhav Suryavanshi will be taxed on their latest IPL salaries

26 November 2024 by Admin

IPL Auction 2025: The IPL is widely regarded as the most lucrative domestic T20 cricket league in the world, attracting top talent with whopping salaries. With significant sponsorships and broadcast deals, IPL franchises spare no expense in securing the services of top players. Two days back, Rishabh Pant made history by becoming the most expensive … Read more

‘Could you ask your Infosys team…’: Bengaluru CA takes a dig at Narayana Murthy’s 70-hour work week advice over tax portal glitches

15 July 2024 by Admin

In the chaotic rush to meet the July 31 tax deadline, a Bengaluru-based chartered accountant (CA) gave a witty twist to Infosys founder Narayana Murthy’s advice for young professionals to work 70 hours a week to build the nation. The CA, who goes by the handle @Basappamv, vented his frustration, pointing out that despite their … Read more

Income tax returns: Report capital gains, don’t wait till July 31. Mistakes to avoid this tax season

14 June 2024 by Admin

Filing your Income Tax Return (ITR) might seem daunting, but with a bit of preparation, you can make the process smoother. Here’s a concise guide to help you avoid common mistakes and ensure a hassle-free tax season for the financial year 2023-24 (assessment year 2024-25). 1. Verify Form 16 and Form 26AS DataBefore you start, … Read more

Finance Ministry notifies final Cost Inflation Index for FY25 at 363: Key Updates for AY 2025-26

25 May 2024 by Admin

The Ministry of Finance has notified the final Cost Inflation Index (CII) for FY25 (Assessment Year 2025-26) at 363. The ministry through the Central Board of Direct Taxes (CBDT), issued Notification No. 44/2024-Income-Tax on May 24, 2024, detailing the Cost Inflation Index (CII) for the financial year 2024-25 i.e. Assessment Year 2025-26. The notification … Read more

Income Tax Return (ITR) filing 2024: All you need to know about Form 16, its issue date and why is it crucial?

2 May 2024 by Admin

Form 16 is a crucial document that is essential when one is filing the income tax return (ITR) of a particular financial year. The document is essential for individuals earning a salary as it gives the whole breakup of Tax Deducted at Source (TDS), providing a comprehensive overview of an employee’s earnings, including salary, allowances, … Read more

Tax department to begin e-campaign on voluntary compliance of income tax from next week

18 July 2020 by Admin

The income tax department will begin an e-campaign on voluntary compliance of income tax from Monday July 20, 2020 till the month-end focusing on taxpayers who are either non-filers or have discrepancies or deficiency in their returns for the FY 2018-19. “The objective of the e-campaign is to facilitate taxpayers to online validate their tax/financial … Read more