Sitharaman said the government will formulate a standard operating procedure (SoP) for TDS defaults and simplify and rationalise compounding of such offences.
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For the ease of taxpayers, Sitharaman said that her ministry will decriminalise the delay for TDS payment up to the due date of filing statement
The accused will also be liable for a significant monetary penalty for failing to furnish proper documents, incomplete or false information on returns, account books, etc.
Health insurance and Senior Citizen Savings Schemes are among some of the tax-saving options that senior citizens could explore.
The government has added several new benefits and sops to the new tax regime in the Union Budget 2023-24 to make it popular. Here’s what both the regimes entail for seniors
Budget 2023 has made the new income tax regime the default option from FY2023-24, although the choice to avail of the old tax regime still exists.
T-bill enthusiasts could be in a celebratory mood amid an apparent unexciting spell in stocks, as government security yields meet or exceed expectations, driven by back-to-back repo rate hikes.
Equity can compensate for lost ground in the shortest possible time. It highlights that the stock market rewards those who stay invested for long
You need to check your Indian residency status, tax deducted at source (TDS), if any, and Double Taxation Avoidance Agreement (DTAA) to determine the applicable dues.
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