The middle class, hit by the pandemic, can expect some kind of relief in the budget such as a hike in standard deduction to Rs 1 lakh which will put money in the hands of the salaried to meet their me...

There has been a renewed debate on the wealth tax in a number of countries. The debate has been ignited by the growing inequality and excessive expenditure incurred by the State due to the economic cr...

Taxpayers who received a flurry of reassessment notices last year can breathe a huge sigh of relief after several high courts have struck these down because of the dodgy manner in which the taxman iss...

The Maharashtra Appellate Authority for Advance Ruling has said that the allocation of salary of head office employees to its branches is liable for the GST. There will also be no input tax credit on ...

Industry and tax professionals want the government to review the cap of Rs 7.5 lakh cap on contributions to National Pension Scheme, provident fund and superannuation fund in the budget. The governme...

The government on Tuesday extended till March 15 the deadline for corporates to file income tax returns for the fiscal ended March 2021. The deadline to file tax audit report and transfer pricing aud...

The government on Tuesday extended till March 15 the deadline for corporates to file Income Tax returns for the fiscal ended March 2021. The deadline to file tax audit report and transfer pricing aud...

The Institute of Chartered Accountants of India (ICAI) has made a representation to the Central Board of Direct Taxes (CBDT) to waive off penalty for filing tax audit reports for the assessment year 2...

The Centre may extend the interest subvention scheme to houses that cost Rs 35 lakh from Rs 25 lakh in the budget. Finance minister Nirmala Sitharaman may also increase the tax benefits on home loan ...

Life insurance companies want the finance ministry to consider giving tax benefit on annuities in the Union budget to protect the earnings of senior citizens amid low interest rates. “Annuity s...