Income Tax Department Reminds Taxpayers to Link PAN with Aadhaar by May 31 Deadline
The Income Tax Department has issued a stern reminder to taxpayers to link their Permanent Account Number (PAN) with Aadhaar by the impending...
| 29 May 2024
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Early Bird Tax Filing: I-T Department Receives Impressive Response in FY24-25
The Income Tax (I-T) Department has witnessed an impressive response from taxpayers in the first month of the Assessment Year 2024-25 (FY24-25),...
MAS Team | 06 May 2024
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RBI Announces Early Redemption Prices for Sovereign Gold Bonds
The Reserve Bank of India (RBI) has recently revealed the early redemption prices for Sovereign Gold Bonds (SGBs) from the 2017-18 Series IV and...
MAS Team | 26 April 2024
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Tax Benefits for Senior Citizens: Understanding Section 80TTB
Section 80TTB of the Income Tax Act presents senior citizens with advantageous tax benefits concerning the interest income garnered from various...
MAS Team | 15 February 2024
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CBDT Announced Advance Notification of Income Tax Return Forms for AY 2024-25
In a proactive move, the Central Board of Direct Taxes (CBDT) has unveiled Income Tax Return Forms well ahead of time for the Assessment Year 2024-25.
MAS Team | 05 February 2024
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Robust Growth in Direct Tax Collections Sets Positive Tone for Fiscal Year
India's gross direct tax collections have exhibited a robust performance, surpassing last year's figures by 17.5%, according to data released by the...
MAS Team | 10 November 2023
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TCS Rates Hiked for Forex Outward Remittances on overseas investments
The government of India has announced an increase in the tax collection at source (TCS) rates for forex outward remittances made by resident...
MAS Team | 27 September 2023
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Income Tax Returns Processing Time Reduced to 10 Days
The Central Board of Direct Taxes (CBDT) announced a significant reduction in the average processing time for income tax returns (ITRs) following...
MAS Team | 07 September 2023
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Ensure Validity of Your Income Tax Return: Complete E-Verification Today
The income tax return (ITR) filing process is a crucial financial responsibility, and its completion entails more than just submitting the necessary...
MAS Team | 30 August 2023
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Rise in Taxpayer Adoption of New Regime
A significant shift in the tax landscape of India has been witnessed as around 5.5 crore taxpayers are estimated to have transitioned to the new...
MAS Team | 23 August 2023
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Revamped Tax Exemption Norms for Life Insurance Policies
The Central Board of Direct Taxes (CBDT) has recently introduced a significant shift in the tax exemption regulations surrounding life insurance...
MAS Team | 17 August 2023
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PAN became inoperative for some NRIs: Impact and Solution
In the midst of filing their income tax returns (ITR) for the current year, many NRIs (non-resident Indians) are experiencing a dilemma. Since their...
MAS Team | 12 July 2023
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Avoiding Tax Credit Mismatches: A Guide to rectify TDS mismatch
Taxpayers are reminded to file their Income Tax Returns (ITR) for the financial year 2022-23 or assessment year 2023-24 within the remaining month to...
MAS Team | 04 July 2023
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Changes to TCS on Overseas Remittances deferred by 3 Months
The government declared on June 28 that overseas spending made with international credit cards would not be subject to the Liberalised Remittance...
MAS Team | 29 June 2023
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I-T exemption limit for leave encashment upon retirement for salaried employees hiked to Rs25 lakh
According to the Budget announcement, the finance ministry raised the tax exemption ceiling for leave encashment upon retirement for private sector...
MAS Team | 01 June 2023
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Revised TCS Rates on Foreign Remittances: Implications and Compliance Guidelines
A significant change was made to the tax collected at source (TCS) rates on international transfers made under the Liberalised Remittance Scheme...
MAS Team | 24 May 2023
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E-Filing Made Easy: File Your Income Tax Returns for AY23-24 with ITR-1 and ITR-4
In an effort to make the tax filing process simple and more convenient to taxpayers, the Income Tax Department has introduced an online platform for...
MAS Team | 24 May 2023
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New Rule Imposes 20% Tax on Overseas Credit Card Expenses for Indians
According to clarifications provided by the finance ministry regarding changes to the foreign exchange management rules published earlier this week,...
MAS Team | 19 May 2023
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Important Income Tax deadlines to keep in Mind for May 2023
Staying on top of tax-related deadlines is essential for minimizing tax deductions and maximizing the benefits of government tax-saving schemes. The...
MAS Team | 06 May 2023
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Pre-validation of Bank Account on Income Tax E-filing Portal: A Crucial Step for Hassle-Free ITR Filing
As the month for filing income tax returns begins, it is important to ensure that all necessary steps have been taken to avoid losing your...
MAS Team | 06 May 2023
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