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I-T Dept simplifies online rectification of TDS in ITR I-T Dept simplifies online rectification of TDS in ITR

Aimed at making life easier for tax payers, the I-T department on Thursday said it simplified the process of online rectification of incorrect details of tax deducted at source (TDS) filed in the income tax return (ITR).

 

April 1 deadline for GST rollout seems challenging: Jayant Sinha April 1 deadline for GST rollout seems challenging: Jayant Sinha

Amid ongoing political turbulence, Minister of State for Finance Jayant Sinha Wednesday said that meeting April 1 deadline for GST rollout seems to be "challenging."

GST implementation: Check out the several risks involved! GST implementation: Check out the several risks involved!

Even as the government and the Opposition are locked in hot debate in the Parliament over the passing of the Goods and Servive Tax (GST) Bill, the Finance Ministry Committee has listed several risk factors involved in the implementation of the bill.

Know the rate of interest on PF deposits since 1952

The income projections for the current fiscal suggest that the retirement fund body EPFO can pay rate of interest which is slightly higher than 8.75 percent provided in 2013-14 and 2014-15.

Arun Jaitley pitches for early passage of GST Bill Arun Jaitley pitches for early passage of GST Bill

The Constitution Amendment Bill to roll out Goods and Services Tax is stuck in the Rajya Sabha due to stiff opposition by the Congress party and might be delayed further because of the tough stance taken by the main opposition party over the National Herald case issue.

LIC eases claim settlement norms for Tamil Nadu customers LIC eases claim settlement norms for Tamil Nadu customers

LIC has eased the procedure for settlement of claims on the lives of flood victims who are policyholders, the insurer said in a statement.

CEA Arvind Subramanian defends GST rates, quells fears on 'sin' tax CEA Arvind Subramanian defends GST rates, quells fears on 'sin' tax

Chief Economic Advisor Arvind Subramanian Monday defended a three-rate structure for GST, including a demerit or 'sin' tax of 40 percent on products like tobacco and luxury cars, saying the recommendation is based on the current tax structure.

CBDT notifies emails as new communication mode with taxpayers CBDT notifies emails as new communication mode with taxpayers

The CBDT has notified use of emails as the new mode of communication between the taxman and taxpayers.

Insurance regulator to launch portal for health insurance plans information Insurance regulator to launch portal for health insurance plans information

With a view to bring all relevant information regarding health insurance policies at one place, Irdai chairman T S Vijayan will launch here tomorrow a portal 'Registry of Hospitals in Network of Insurers' (Rohini).

Finance Ministry wants Provident Fund body to retain 8.75% interest rate for FY16 Finance Ministry wants Provident Fund body to retain 8.75% interest rate for FY16

Finance Ministry wants Employees' Provident Fund Organisation (EPFO) to retain 8.75 per cent rate of interest on PF deposits for 2015-16 although the retirement fund body is in a position to give better returns to its over five crore subscribers.

Good news! Govt orders quick issue of income tax refunds under Rs 50,000 Good news! Govt orders quick issue of income tax refunds under Rs 50,000

In good news for lakhs of taxpayers awaiting their IT refunds, the government has directed the taxman to "expeditiously" settle claims involving less than Rs 50,000.

Fearing cut in PPF or post office saving interest rates? Fearing cut in PPF or post office saving interest rates?

Finance Ministry is likely to decide towards the end of December how much interest you would earn on schemes like Post Office MIS, PPF, Post Office schemes, Senior Citizen's Savings Scheme, Sukanya Samriddhi Accounts etc.

 

Chennai rains: ICICI Bank not to impose penalty on EMI delay Chennai rains: ICICI Bank not to impose penalty on EMI delay

 In view of floods, ICICI Bank today said it has decided not to impose any penalty on its Chennai customers for delay in EMI payments for November.

Shocking fact of pay 'hike' in 7th Pay Commission recommendations! Shocking fact of pay 'hike' in 7th Pay Commission recommendations!

Many central government employees claim that they would be drawing lower monthly salary under the 7th pay commission than what they are currently drawing under the sixth pay commission.

'Target non-TDS income group, cash economy to widen tax base'

To widen the tax base, a Parliamentary panel on Thursday asked the government to use its resources with "strict vigil" over non-TDS income group and which are lying above Rs 5 lakh annual income bracket.

FDI in insurance jumps 152% to $341.43 million in March-September FDI in insurance jumps 152% to $341.43 million in March-September

Foreign direct investment in the insurance sector more than doubled to USD 341.43 million during March-September this year, Parliament was informed Wednesday.

Good news! Now parents can claim income tax benefit on overseas educational loan Good news! Now parents can claim income tax benefit on overseas educational loan

The interest amount pertains to such loans, meant for overseas studies, taken by the parent of the ward.

GST will be a game changer: Arun Jaitley

Finance Minister Arun Jaitley said on Tuesday that Goods and Services Tax Bill (GST) is the need of the hour and would be a game changer once it gets parliament`s nod.