The IT Department has authorised banks and post offices to deduct TDS on large cash withdrawals from customers who have not filed their ITR
The existing provision regarding higher TDS deduction in case of non-declaration of PAN is now amended. CBDT includes Aadhaar as an alternate declaration option.
The threshold limit for the deduction of TDS on rental income and interest income has been significantly increased.
The CBDT relaxes the prosecution norms for three common Income tax offences in a bid to ease the non-compliance stress on common taxpayers.
Form 15G and 15H is submitted to cut back the tax you pay on interest income that you receive from Fixed Deposits, Recurring Deposits or Company Deposits
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