Why direct tax code

Malaria Mukt Bharat. Wealth Wise Series How they can help in wealth creation. Honouring Exemplary Boards. Deep Dive Into Cryptocurrency. ET Markets Conclave — Cryptocurrency. Reshape Tomorrow Tomorrow is different. Let's reshape it today.

Corning Gorilla Glass TougherTogether. ET India Inc. ET Engage. ET Secure IT. Web Stories. Morning Brief Podcast. Economy Agriculture. Foreign Trade. Company Corporate Trends. Defence National International Industry. Reshape Tomorrow Tomorrow is different. Let's reshape it today. Corning Gorilla Glass TougherTogether. ET India Inc. ET Engage. ET Secure IT. CBDT amends I-T rules, allows authentication of records via electronic verification code "In order to provide the benefit of the simplified process of authentication by EVC to these persons, it has been decided to extend the simplified process of authentication by EVC to these persons also," the board said, referring to cases under faceless assessment.

Faceless assessment: Finance Ministry eases rules for authentication of e-records submission The ministry said the amended rule provides that electronic records submitted through registered account of the taxpayers in the income tax department's portal shall be deemed to have been authenticated by the taxpayer by electronic verification code EVC.

How to check income tax refund status Income tax refund will be payable to you only after the tax department processes your ITR and confirms the same through intimation notice. How to pre-validate bank account to receive income tax refund The income tax department had previously announced that from March 1, , it will issue only e-refunds.

All News Videos Photos. Bibek Debroy on why there's a need to reform the idea of reform Yet, when agendas are drawn up for reform, typically by economists, the institutional setting is often ignored. Five tips to help NRIs optimise tax savings while living and earning abroad These tips include making the most of your pension fund and home loan deductions, as well as maximizing the provisions on the sale of foreign assets.

Is tax avoidance ethical? CBDT notifies rules for tax deduction on non-salary payments to NRIs In case of taxability, the amount which is liable to tax will be determined. CBIC exempts banks, financial institutions, exports from dynamic QR Code on e-invoices Dynamic QR code for B2C transactions is meant to encourage digital payments by the buyers but can potentially be used to check tax leakages as well.

Tax department cannot block import export code IEC : Bombay High Court The court was hearing a matter where the indirect tax department after investigations found that an exporter was using fake input tax credit to set off GST liabilities. Income Tax Department issues guidelines for applicability of TCS provision with effect from Oct 1 The Finance Act, inserted a new section O in the Income-tax Act which mandates that with effect from October 1, , an e-commerce operator shall deduct income tax at the rate of 1 per cent of the gross amount of sale of goods or provision of service or both, facilitated through its digital or electronic facility or platform.

Proposed Direct Tax Code: How it could cut your income tax When the corporate tax rate was reduced to 25 per cent last month, it was termed as an early Diwali for the corporate sector. Text: ET Bureau more. How the proposed new Direct Tax Code could cut your income tax The Akhilesh Ranjan taskforce, set up to suggest an overhaul of the Income Tax Act, has also recommended sweeping changes in the tax slabs.

Direct tax code panel for DDT removal to promote investment According to sources, there are hardly any revenue loss by removing dividend distribution tax, since it will be offset by the taxes paid by shareholders. Corporate tax system complex, need to make it more streamlined, says CBDT's Akhilesh Ranjan DTC report focuses on using tech to improve compliance; growth in direct tax collections less than expected.

DTC panel recommends to abolish DDT; lowering personal income tax rates In what could come in as a big relief for capital market players, the task force on direct tax code that submitted its report to Finance Minister Nirmala Sitharaman last week has recommended abolishing the dividend distribution tax while retaining the Long Term Capital Gains Tax and Securities Transaction Tax, a source in the know of the development told ET Now.

Task force on Direct Tax Code submits report to FM Nirmala Sitharaman The task force was supposed to submit its report by May 31, but the then finance minister Arun Jaitley gave two months extension to complete the exercise.

Expert panel submits report on replacing I-T Act with direct tax code to FM Nirmala Sitharaman The Task Force to rewrite the decades-old Income Tax Act, has submitted its report to Finance Minister Nirmarala Sitharaman, sparking hopes of a simpler tax law with an easier compliance burden and friendly tax administration.

Company Corporate Trends. Defence National International Industry. International UAE. Saudi Arabia. US Elections World News. Rate Story. Font Size Abc Small. Abc Medium. Abc Large. The new direct tax code is set to replace the existing Income Tax Act. The aim is to reform the complex income tax laws into simpler tax codes with reduced rates, fewer exemptions, and tax slabs. ETPrime stories of the day Logistics How sustainable supply chains helped companies stay afloat in the pandemic.

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