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Income Tax law
Earning More than 10 Lakhs? E-filing is compulsory

Out of the 4 crore income tax returns (ITRs) filed during the financial year 2011-12, 1.64 crore were filed online. Majority of these were voluntary e-filers. This acceptance of the facility has made the government confident to make it mandatory for people with more than Rs. 10 lakh of ...

E-filing mandatory for individuals holding accounts or assets abroad

Most individuals who have travelled outside India for jobs, open a bank account in the visited country. In most cases, the account is not closed. Then, there are some individuals who own a residential house property outside India. They may not go there or have any taxable income. Yet, all ...

How to deal with employer who is not issuing Form 16

Twenty employees of a company sent a query regarding the employer who is neither depositing the TDS being deducted, nor issuing the Form 16 to the employer. Below are the exact question and the remedial measure against such erring employers:

Reader:  Your article on "Not Filed Last Year's Tax ...

Impact of New Direct Tax code

Ministry of Finance rationalizes the strategy behind the New Direct Tax Code as:

“…Any complex tax legislation increases the cost of compliance as well as administration. Given that the cost of compliance is essentially regressive in nature, this undermines the equity of the tax system. Similarly, high cost of administration ...

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