TAX

income-tax-refund

Didn’t get your income tax refund? Don’t worry

Taxpayers are entitled to claim a tax refund if, during the year, excess tax has been deducted from your income. This may happen if there are multiple incomes. But, you have to apply for a refund while filing your ITR for a particular financial year. Have you filed your income tax return (ITR) for the …

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corporate tax

Corporate tax rate cut: An early Diwali

The Finance Minister on 20th September 2019 announced a sharp reduction in corporate tax rates. Manufacturing companies not availing of tax sops can now opt for a 22% corporate tax rate, while new manufacturing companies that register and start production between 1st October 2019 and March 2023 can avail an even lower tax rate of …

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Direct Tax Code

Direct Tax Code: Proposals for Implementation

The new direct tax code (DTC) is expected to be in consonance with economic needs of the country, and will replace the 58-year old existing Income Tax Act, 1961. A panel was set up to draft the code in view of direct tax systems across various countries, international best practices and economic needs of the …

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PAN Aadhaar

Your PAN will become invalid if not linked with Aadhaar by 31st March

If you have not linked your Permanent Account Number (PAN) card with your Aadhaar card yet, then you have time till 31st March 2019. According to the Income Tax department, all those whose PAN is not linked with Aadhaar would not be able to file income tax returns (ITR) and even risk cancellation of their …

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