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Income tax

FAQs on e-Verification Scheme 2021

February 3, 2023 Eliza

The e-Verification Scheme, 2021 is an initiative by the Income Tax Department aimed at improving accuracy in data reporting and promoting voluntary compliance. The FAQs provide general guidance on the procedures and processes of the e-Verification Scheme and can be found on the Income Tax Department's website. The financial transactions reported by the Sources/Reporting … [Read more...] about FAQs on e-Verification Scheme 2021

Further Installment of DR Announced by Tripura Government

February 2, 2023 Eliza

The government of Tripura has announced the release of a further installment of Dearness Relief @ 12% over the basic pension/basic family pension. The total quantum of Dearness Relief payable to the State Government pensioners and family pensioners will now be 20% with effect from December 1, 2022. The Pension Disbursing Authorities are authorized to calculate and disburse … [Read more...] about Further Installment of DR Announced by Tripura Government

12% DA for Tripura Government Employees

February 2, 2023 Eliza

The Tripura government has announced a further installment of Dearness Allowance (DA) at 12% over basic pay for state government employees effective from December 1, 2022. The total quantum of DA payable to state government employees will now be 20% over basic pay. The DA is a separate element of remuneration and will not be treated as pay within the ambit of FR 9(21). The rate … [Read more...] about 12% DA for Tripura Government Employees

New Guidelines for Partial Withdrawal of NPS Contributions in Tripura

February 2, 2023 Eliza

The Government of Tripura's Department of Finance has issued a memorandum regarding the partial withdrawal of NPS contribution. The memorandum encloses a circular from the Pension Fund Regulatory and Development Authority (PFRDA) regarding the procedure to be followed by subscribers for partial withdrawal of their contribution. The State Nodal Officer for NPS in the Finance … [Read more...] about New Guidelines for Partial Withdrawal of NPS Contributions in Tripura

Finance Bill 2023 – Rate of Income taxes

February 1, 2023 Eliza

FINANCE BILL, 2023PROVISIONS RELATING TO DIRECT TAXES Introduction The provisions of Finance Bill, 2023 (hereafter referred to as “the Bill”), relating to direct taxes seek to amend the Income-tax Act, 1961 (hereafter referred to as ‘the Act’), to continue reforms in direct tax system through tax reliefs, removing difficulties faced by taxpayers and rationalization of … [Read more...] about Finance Bill 2023 – Rate of Income taxes

Union Budget 2023-24 Highlights

February 1, 2023 Eliza

Highlights of the Budget presented by Smt. Nirmala Sitharaman Ministry of Finance HIGHLIGHTS OF THE UNION BUDGET 2023-24 01 FEB 2023 The Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Union Budget 2023-24 in Parliament today. The highlights of the Budget are as follows: PART A · Revised Estimates … [Read more...] about Union Budget 2023-24 Highlights

Income Tax Demand Notice – Mismatch of Tax credit for the FY 2020-21 (AY 2021-22)

January 2, 2023 Eliza

Income Tax Demand Notice under section 143(1) due to mismatch of Tax credit for the Financial Year 2020-21 (AY 2021-22) O/o PCDA(O), Golibar Maidan, Pune Subject: Income Tax Demand Notice under section 143(1) due to mismatch of Tax credit for the Financial Year 2020-21 (AY 2021-22). Your kind attention is drawn where CPC, Bangalore had raised Income Tax demand under … [Read more...] about Income Tax Demand Notice – Mismatch of Tax credit for the FY 2020-21 (AY 2021-22)

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