Tax
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Zero tax nations vs high tax countries: A global look at Income Tax systems
Personal Finance | Jan 23, 2025, 06:41 PM ISTDiscover the stark differences between tax-free countries like the UAE and Kuwait, where citizens enjoy zero income taxes, and high-tax nations like Finland and Denmark, which fund social welfare programs. This global tax comparison highlighted diverse economic models and their impact on citizens.
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What is tourist tax? 6 common types of taxes to watch out for, know things to keep in mind
Travel | Jan 23, 2025, 12:47 PM ISTIf you are planning to travel this year then you must know about the tourist tax. However, before selecting any destination you should know about 6 common taxes.
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Budget 2025 should reduce tax, compliance burden on middle class and SMEs, says expert
Budget | Jan 16, 2025, 07:12 AM ISTBudget 2025: Currently, small businesses with an annual turnover of up to Rs 3 lakh are allowed to opt for presumptive taxation subject to condition that cash receipts is up to 5 per cent of total receipts.
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ITR filing deadline: Last 2 days to file late income tax, penalty, how to file ITR after due date?
Personal Finance | Jan 14, 2025, 04:35 PM ISTTaxpayers have until January 15, 2025, to file their belated Income Tax Return (ITR) for FY 2023-24. Missing this deadline could lead to penalties of up to Rs 5,000, legal notices, and complications in future filings. Salaried employees must also submit tax-saving proofs by this date.
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What happens if you don't pay tax in India? Here's all you need to know
Business | Jan 12, 2025, 10:58 AM ISTTax in India: In India, failing to pay taxes can lead to a series of legal and financial consequences. Read to know what can happen if you don't pay your taxes.
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Claim tax exemption on rent without HRA: A complete guide to Section 80GG benefits
Personal Finance | Jan 10, 2025, 07:52 PM ISTKnow how to claim tax exemptions on rent payments even if you don’t receive HRA. Under Section 80GG of the Income Tax Act, salaried and self-employed individuals can save taxes by meeting specific conditions.
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Facing issues with GST portal? Govt likely to extend filing deadline for taxpayers
Personal Finance | Jan 10, 2025, 04:34 PM ISTThe GST portal is facing significant technical glitches, causing disruptions in GSTR-1 filings for December 2024. Businesses and tax professionals have raised concerns about delays and operational challenges.
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Good news for FD investors: Finance Minister likely to make major announcements in Budget
Personal Finance | Jan 04, 2025, 11:49 PM ISTThe Union Budget 2025-26 may bring good news for FD investors, with potential tax exemptions on fixed deposit income and shorter lock-in periods for tax-saving FDs. FM Nirmala Sitharaman is expected to introduce measures to boost FD investments and address banking sector liquidity challenges.
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ITR filing: Deadline of 'Vivad Se Vishwas' extended, revised and belated filing now till January 15
Personal Finance | Dec 31, 2024, 12:48 PM ISTThe Income Tax Department has extended the deadline for filing revised and belated ITR for AY 2024-25 to January 15, 2025. This move, announced by CBDT, aims to help taxpayers address AIS and ITR mismatches and ensure accurate filings. Here’s everything you need to know.
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PAN 2.0 explained: Govt clarifies validity of existing cards and costs for upgrades
Personal Finance | Dec 26, 2024, 01:22 PM ISTThe Government of India launched the PAN 2.0 project with dynamic QR codes and enhanced services. Existing PAN cards remain valid—Know more about the features and FAQs here.
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KVP scheme: Double your money in 115 months with zero risk | Post office investment plan
Personal Finance | Dec 24, 2024, 12:56 PM ISTExplore the Kisan Vikas Patra (KVP) scheme from India Post that guarantees doubling your investment in 115 months with zero risk. Know how it works, the interest rate, tax implications, and more.
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GST Council postpones decision on reducing tax for life, health insurance premiums
Business | Dec 21, 2024, 02:41 PM ISTThe GST Council has postponed its decision on reducing tax rates for life and health insurance premiums. With further deliberations planned for January, key proposals include exemptions on term life insurance and premiums for senior citizens.
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Cryptocurrency tax in India: Know how much you will have to pay on Crypto investments
Personal Finance | Dec 11, 2024, 01:50 PM ISTPlanning to invest in cryptocurrencies in India? Understand the 30 per cent tax on gains, 1 per cent TDS, and the legality of cryptocurrencies under India’s taxation laws.
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How to check your TDS refund status: A simple guide
Brand Content | Dec 09, 2024, 07:51 PM ISTIf you have paid excess tax deducted at source or noticed that you’re owed a refund from the Income Tax Department, you might be wondering how to check the status of your TDS refund. This step-by-step guide will walk you through the process, making it simple and easy to follow.
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Missed reporting foreign assets in ITR? File revised return to avoid Rs 10 lakh penalty | DETAILS
Personal Finance | Nov 19, 2024, 04:01 PM ISTMissed declaring foreign assets or income in your ITR for AY 2024-25? File a revised return by December 31, 2024, to avoid a penalty of up to Rs 10 lakh under the Black Money Act.
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Truecaller reacts to Income-Tax Department's survey at offices in Mumbai, Gurugram | READ statement
India | Nov 07, 2024, 09:45 PM ISTThe Income Tax Department surveyed the Truecaller's offices in Mumbai and Gurugram for allegedly violating transfer pricing regulations, also called as tax evasion.
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Himachal CM Sukhu calls 'toilet tax' claims baseless, accuses BJP of political manipulation | VIDEO
India | Oct 04, 2024, 09:41 PM ISTToilet tax Himachal controversy: CM Sukhu said that before the 2022 Assembly elections, the previous BJP govt had introduced free schemes worth Rs 5,000 cr, including provisions for free water, in an attempt to win electoral success. Despite these efforts, the people voted in favour of Congress.
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TDS deposit rules for employers relaxed from Oct 1: Could employee TDS credit be at risk?
Personal Finance | Oct 01, 2024, 01:52 PM ISTFrom October 1, 2024, new TDS rules provide employers with extended time to deposit TDS, raising concerns about employee TDS credits. However, experts clarified that the new rule won't affect employee tax credits.
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Fake registration drive: Tax authorities uncover over 10,000 bogus firms under GST across country
Business | Sep 24, 2024, 02:28 PM ISTAn amount of Rs 24,010 crore of suspected tax evasion was detected during the first special drive last year. The second all-India drive against fake registration began on August 16 and will continue till October 15.
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Windfall tax on crude petroleum slashed to zero by govt, effective from September 18
Business | Sep 17, 2024, 11:45 PM ISTThe Indian government has reduced the windfall tax on domestically produced crude oil to zero, effective September 18. Previously set at Rs 1,850 per metric ton, the cut comes amid a drop in global oil prices and could lead to lower petrol and diesel costs.