For salaried taxpayers, the deadline to submit an ITR (AY 2022-23) is July 31, 2022. According to a tweet from the income tax department, more than 2 crore income tax returns (ITRs) for the AY 2022–23 have already been electronically filed.
To keep things simple, the liability to deposit GST has fallen on the tenant. The landlord is neither required to obtain any registration under GST nor make any payment of GST on such renting service.
Furthermore, the cardholder may also receive a complimentary stay voucher worth ₹5,000 at “The Postcard Hotel” across India, Sri Lanka, and Bhutan. It also offers two complimentary domestic lounge visits per quarter at airports across India.
The new norms stipulate that from July 18, when an 'unregistered person' (for example, a salaried individual or small businessperson) gives his/her flat on rent to a GST 'registered person' (for example, a company), then GST will apply.
A loss ocurrs when an individual sells his/her asset below the asset price. These losses can help an individual in reducing net taxable income and thereby income tax payable. However, there are certain rules one must follow to set off capital losses against capital gains. Read on to know more about the rules and how it can be claimed while filing income tax return.
The National Company Law Tribunal’s (NCLT) Kolkata bench on Monday declared the allotment of shares by the company in favour of the promoters void. The NCLT also pronounced the purchase of company shares by the promoters from Lodha null and void. These transactions took place way back in 1987 and 1988, respectively.
In addition to other new data, AIS now contains information on interest, dividends, stock and mutual fund transactions, overseas remittance data, and more.
Budget 2021 announced an exemption from the ITR filing process for senior citizens above a certain age. This exemption is available to senior citizens provide they satisfy certain conditions. If the specified conditions are met, he/she is required to submit a declaration during the previous year (i.e. in which income is earned) to claim ITR filing exemption.
To protect your legacy, you should be aware of estate planning
A well-known name in the industry, both on the advisory and client side, Sharma is an expert in investment banking (debt & private equity transactions), new/stressed project acquisitions, land sales, joint development/venture transactions and business consulting assignments across all segments of real estate. Sharma joins from Tribeca Developers, where he headed their business development operations. Prior to this, he held seniorpositions atother international property consulting firms in India.
The working capital requirement can rise by 28 per cent to Rs 11.2 lakh crore in FY23, compared to Rs 8.7 lakh crore in FY22, amid the war conditions, considering the significant price run-up in commodities, falling rupee and borrowing costs, it said.
Comprehensive steps have been taken to tackle banking frauds, including an online searchable database of frauds reported by banks in the form of Central Fraud Registry to enable timely identification, control and mitigation of fraud risk and also to carry out due diligence during the credit sanction process, Minister of State for Finance Bhagwat Karad said in a written reply.
Set up in February 2021, the panel was designed to examine issues in the urban co-operative banking sector and provide a medium term road map. Headed by former RBI Deputy Governor, N. S. Vishwanathan, the panel recommended a four-tiered regulatory framework based on size of deposits of the banks and their area of operations.