Articles for Tax Payment

Income tax news: What happens if taxpayers fail to pay advance tax payment on December 15?
1 week, 4 days ago

Income tax news: What happens if taxpayers fail to pay advance tax payment on December 15?

Live Mint  

Advance tax payment: The deadline to make your advance tax payment is fast approaching — in only three days, on December 15. For advance tax payments done on or before June 15 — 15 per cent of the dues can be paid. For advance tax payments done on or before September 15 — 45 per cent of the dues can …

Income Tax Tax Payment Payment Advance
Property Tax Payment: A Comprehensive Guide to Timely Payment
1 week, 5 days ago

Property Tax Payment: A Comprehensive Guide to Timely Payment

The Hindu  

The property tax is a yearly tax that must be paid by all properties owned. No penalty: A property owner who adheres to the property tax due date is exempt from incurring any penalties associated with late payment on the property. If the property owner fails to initiate payment, the municipal authority is entitled to seize the property and will …

India Tax Local Property Tax Payment Property Owners Your Property
Income Tax: Check the latest list of 29 banks available for e-Pay Tax service
3 weeks, 3 days ago

Income Tax: Check the latest list of 29 banks available for e-Pay Tax service

Live Mint  

The Income Tax department had rolled out a new e-Pay Tax service wherein the entire chain of activities related to payment of direct taxes, from generation of challan to making payment and recording of the payment history is enabled through the e-Filing portal for authorized banks. Taxpayers are offered a wide range of modes for payment, including Net Banking, Debit …

Bank Banks Tax Payment Challan Migrated Neft Migrated Bank
Now, you will be able to transfer ₹5 lakh in a single UPI transaction under THIS category: Check details
3 months, 1 week ago

Now, you will be able to transfer ₹5 lakh in a single UPI transaction under THIS category: Check details

Live Mint  

NPCI revised the limit to ₹ 5 lakh for payments of tax, hospitals & educational services and payment for IPO and G-Secs If you rely on the Unified Payments Interface for most of your payments, then there is good news for you. {{^adFree}} {{/adFree}} So, now consumers will be able to make UPI payments of ₹5 lakh per transaction for …

Tax Payments Payment Adfree Lakh Limit Single Transaction
Release Basic Tax Assignment Instalment Of ₹738 Cr To MCD To Enable Payment Of Outstanding Dues: High Court To Delhi Govt
8 months, 1 week ago

Release Basic Tax Assignment Instalment Of ₹738 Cr To MCD To Enable Payment Of Outstanding Dues: High Court To Delhi Govt

Live Law  

The Delhi High Court has recently directed the Delhi Government to release a basic tax assignment instalment of Rs. 738 crores to the Municipal Corporation of Delhi to enable payment of outstanding dues by the civic body to its former and serving employees.In an order passed on April 08, a division bench comprising Acting Chief Justice Manmohan and Justice Manmeet …

Delhi High Court Court Payment Mcd Outstanding Dues Employees Shall
Want to improve credit score? Here’s how income tax payment can help you
1 year, 7 months ago

Want to improve credit score? Here’s how income tax payment can help you

Live Mint  

Paying tax is something you might not like, but what if it helps you in getting credit easily from the banks and other financial institutions in the case of your emergency needs or other financial responsibilities like a child's higher education? Credit score improvement can be done in various ways, like timely debt payment, not bouncing EMIs, staying up to …

Financial Tax Credit Taxes Income Tax Income Credit Score
Alteration In Vehicle For Persons With Disability Exempted From Payment Of Tax, Vehicle Need Not Be Driven By Such Person: Madras High Court
1 year, 8 months ago

Alteration In Vehicle For Persons With Disability Exempted From Payment Of Tax, Vehicle Need Not Be Driven By Such Person: Madras High Court

Live Law  

In December 1976, the Government of Tamil Nadu Home Department had issued a notification exempting payment of tax on all motor vehicles specially designed or adapted for the use of physically handicapped persons, provided the adapted vehicles are used by the physically handicapped persons only. The Madras High Court recently noted that under the above GO, the only condition was …

Tax Court Vehicles Vehicle Person Exemption Such Person
KVAT Act | Dealer Claiming Input Tax Credit Must Prove Transaction Beyond Reasonable Doubt : Supreme Court
1 year, 9 months ago

KVAT Act | Dealer Claiming Input Tax Credit Must Prove Transaction Beyond Reasonable Doubt : Supreme Court

Live Law  

The Supreme Court has held that under Section 70 of the Karnataka Value Added Tax Act, 2003, a dealer claiming Input Tax Credit on purchase ought to prove and establish actual physical movement of goods and genuineness of transaction. The dealer claiming ITC has to prove beyond doubt the actual transaction which can be proved by furnishing the name and …

Karnataka Supreme Court Court Payment 2003 Transaction Itc
Budget 2023-24: Income Tax Deduction Allowed Only On 'Actual Payment' Of Sum Payable By Assessee To MSMEs
1 year, 10 months ago

Budget 2023-24: Income Tax Deduction Allowed Only On 'Actual Payment' Of Sum Payable By Assessee To MSMEs

Live Law  

With the objective of promoting timely payments to Micro and Small Enterprises, Finance Minister Nirmala Sitharaman in her Budget 2023-24 speech has proposed to insert a new clause in section 43B to provide that any sum payable by the assessee to a micro or small enterprise beyond the time limit specified in section 15 of the Micro, Small and Medium …

Payment Section 15
Budget 2023-24: Finance Minister Proposes To Increase Threshold Limit For Co-Operatives To Withdraw Cash Without TDS
1 year, 10 months ago

Budget 2023-24: Finance Minister Proposes To Increase Threshold Limit For Co-Operatives To Withdraw Cash Without TDS

Live Law  

In the Union Budget 2023-24, Finance Minister Nirmala Sitharaman has proposed to increase the threshold limit for co-operatives to withdraw cash without TDS. The government has proposed to amend section 194N of the Income Tax Act by inserting a new proviso to provide that where the recipient is a co-operative society, the provisions of the section shall have effect, as …

Tax
Payment On One-Time Premium/Aalami Can't Be Charged To Service Tax Under Renting Of Immovable Property: CESTAT
2 years, 1 month ago

Payment On One-Time Premium/Aalami Can't Be Charged To Service Tax Under Renting Of Immovable Property: CESTAT

Live Law  

The Ahmedabad Bench of the Customs, Excise and Service Tax Appellate Tribunal has held that the payment of a one-time premium or salami cannot be charged to service tax under the heading "renting of immovable property service. The Ahmedabad Bench of the Customs, Excise and Service Tax Appellate Tribunal has held that the payment of a one-time premium or salami …

Tax Property Service Premium Charged Rent Stat
Debt MFs log ₹65,372-crore outflow in September on increasing rate cycle, advance tax payment needs
2 years, 1 month ago

Debt MFs log ₹65,372-crore outflow in September on increasing rate cycle, advance tax payment needs

The Hindu  

Debt funds focused on investing in fixed-income securities witnessed an outflow of ₹65,372 crore in September amid increasing interest rate cycle and redemptions by corporates to pay advance tax. Prior to that, investors pulled out over ₹70,000 crore from debt mutual funds in April-June due to high inflation and increasing rate cycle. Overnight funds category witnessed inflows to the tune …

Debt Fund Crore Funds Rate Flows Duration
Tax withholding on virtual digital assets
2 years, 5 months ago

Tax withholding on virtual digital assets

Live Mint  

The Finance Minister created a stir in Budget 2022 by introducing taxation on Virtual Digital Assets such as cryptocurrencies and non-fungible tokens. The Budget also introduced a new provision, section 194S in the Income Tax Act, 1961 that provides a 1% tax deducted at source, to be deducted by the payer of the consideration on transfer of such assets, exceeding …

Tax Transfer Payment Person 2022 Inr Tds
Assessee Not Liable To Pay Interest On Short Payment Of Advance Tax Due To Default Of Payer In Deducting TDS Before 2012-2013 FY : Supreme Court
3 years, 3 months ago

Assessee Not Liable To Pay Interest On Short Payment Of Advance Tax Due To Default Of Payer In Deducting TDS Before 2012-2013 FY : Supreme Court

Live Law  

The Supreme Court has held that the amount of income tax which is deductible or collectible at source can be reduced by the assessee while calculating advance tax before 2012-2013 Financial Year.Therefore, the assessee cannot be held liable for interest under Section 234B of Income Tax for short-fall of advance tax which arises due to reducing the income tax deductible …

Supreme Court Tax Court Income Tax Pay Income Interest
PF-Aadhaar Linking, New Cheque Payment, Maruti Suzuki Price Hike: 5 Changes from Today
3 years, 3 months ago

PF-Aadhaar Linking, New Cheque Payment, Maruti Suzuki Price Hike: 5 Changes from Today

News 18  

There are quite a few important changes taking place this month. From Income Tax rule changes to hiked LPG prices, these changes will impact your day-to-day lives as well as influence the overall economy. The revised price of 14.2 kg LPG cylinders across major metros: Delhi – Rs 884.50 Kolkata – Rs 911.50 Mumbai – Rs 884.50 Chennai – Rs …

Bank Changes Maruti Suzuki Price Month Hike Rule
New Online Tax Payment System, Mobile App to Be Launched Later: CBDT on Upcoming E-filing Portal
3 years, 6 months ago

New Online Tax Payment System, Mobile App to Be Launched Later: CBDT on Upcoming E-filing Portal

News 18  

New Delhi: The CBDT on Saturday said a proposed new online tax payment system and a mobile app on its soon-to-be launched advanced e-filing website will be activated on June 18 even as the portal will go live on Monday. “It is clarified that the new tax payment system will be launched on June 18, 2021 after the advance tax …

Mobile App Income Payment Itr Taxpayer Portal Cbdt
Delayed GST payment: Interest to be charged on net tax liability from September 1
4 years, 3 months ago

Delayed GST payment: Interest to be charged on net tax liability from September 1

The Hindu  

The government has said that interest on delayed payment of goods and services tax will be charged on net tax liability with effect from September 1. The GST Council, comprising centre and state finance ministers, in its 39th meeting in March had decided that interest for delay in payment of GST to be charged on net tax liability with effect …

Interest Delayed Net Gst Council Tax Payment Tax Liability Gst Liability