Page 2 - Income Tax Law
Old income tax regime or new? Work out the math before you make your choice
Compute your income-tax liability twice, under the old system and the new. Factor in likely events like job loss of pay cuts
 "Old income tax regime or new? Work out the math before you make your choice")
Facing tax and divestment shortfall, govt puts faith in Vivaad se Vishwas
The scheme is the sixth tax amnesty launched by Modi-govt; none of its predecessors has yielded anything close to Rs 9 trillion, the amount the govt hopes to mop up this time
 "Facing tax and divestment shortfall, govt puts faith in Vivaad se Vishwas")
From arbitration to bounced cheques, here're the key court orders
SC has reiterated that once the issuance of a cheque and the signature on it have been admitted, there's always a presumption that it was issued to satisfy a legally enforceable debt or liability.
 "From arbitration to bounced cheques, here're the key court orders")
Track the number of days you spend in India to avoid the taxman's knock
Any discrepancy between what you report and the records of the government could land you in trouble
 "Track the number of days you spend in India to avoid the taxman's knock")
Firms opting for lower tax regime can't adjust accumulated credits on MAT
The ordinance to cut the corporation tax rate has said MAT provisions will not apply to a company which has exercised the option for a lower rate of tax
 "Firms opting for lower tax regime can't adjust accumulated credits on MAT")
Passive funds can work if they simplify investing: Motilal Oswal AMC CEO
Once we see some recovery in real estate, this money will get released and move towards capital market products like mutual funds, says Aashish Somaiyaa
 "Passive funds can work if they simplify investing: Motilal Oswal AMC CEO")
Revenue situation rules out further tax sops for the individual taxpayer
Even tax cuts in 2020-21 could be a difficult proposition as officials dismiss reports of relief for salaried class and scrapping of DDT and LTCG
 "Revenue situation rules out further tax sops for the individual taxpayer")
Direct Tax Code 2.0: Task force for big relief to individual taxpayers
Income tax payers earning up to Rs 55 lakh per annum may end up with a major tax relief
 "Direct Tax Code 2.0: Task force for big relief to individual taxpayers")
Here's all you need to know about ITR 1, 2 and 3 for FY 2018-19
A taxpayer who is an individual and is resident in India and earning income up to Rs 50 Lakh can use ITR-1 to file the return.
 "Here's all you need to know about ITR 1, 2 and 3 for FY 2018-19")
Govt sets up Arbind Modi-led panel to overhaul, simplify income tax laws
PM Modi, during the annual conference of tax officers in Sept, had observed that the Income-tax Act, 1961, which was drafted more than 50 years ago, needed to be redrafted
 "Govt sets up Arbind Modi-led panel to overhaul, simplify income tax laws")
Govt sets up six-member task force to draft new direct tax law
Chief Economic Adviser Arvind Subramanian will be a permanent special invitee in the task force
 "Govt sets up six-member task force to draft new direct tax law")
