(This story originally appeared in on Jan 13, 2022) MUMBAI: A job-hop could result in the employee having to pay (penal) interest owing to a shortfall in the tax deducted at source (TDS) against salary, which has not been covered by the new employer. The previous employer (Company A), will typically calculate the TDS based …
Tax officers will give reasonable time to erring business to explain reasons for mismatch in turnover reported in sales return GSTR-1 and tax payment form 3B before initiating recovery action for short payment or non-payment of taxes. Apex indirect tax body CBIC has issued guidelines on recovery proceedings and said that taxmen would give a …
Indifi Technologies has collaborated with Google Pay to provide instant loans to eligible small merchants on the Google Pay platform. The biggest challenge that most small business owners face is working capital management and the speed of securing capital to manage it. The collaboration aims to address this problem and help small merchants to meet …
Indifi, GPay join hands to offer instant digital credit to SMEs Read More »
The Insolvency and Bankruptcy Code (IBC) could soon see some strengthening, including a cross-border insolvency framework and measures to speed up resolution of cases, with the matter set to be taken up in the upcoming budget session of parliament, government insiders said. The proposed legislative changes also include a code of conduct for the committee …
IBC may come up in Budget session for faster resolution, cross-border norms Read More »
The share of assets under management (AUM) of the funds linked to the systematic investment plans (SIPs) reached a record 15% of the AUM of the mutual fund (MF) industry in December 2021, the data from the Association of Mutual Funds in India (AMFI) shows. The SIP AUM grew by 34.6% annually in the past …
AUM share of SIP linked mutual funds at a record high in December Read More »
The pandemic has hit the middle-class hardest. Many have spent their life savings on the medical treatment of their near and dear ones. In this challenging time, the government should understand the suffering of the middle-class taxpayers. The Finance Minister should extend tax relief for the expenditure on medical treatment of the covid affected to …
Why Budget 2022 should allow tax deduction for expenditure on Covid treatment Read More »
Finance Minister Nirmala Sitharaman, in Union Budget 2021-22, proposed changes vide the Finance Bill, 2021, that amends the Central Goods and Services Tax Act, 2017 with respect to recovery of self- assessed tax, which is now notified vide Notification No. 39/2021–Central Tax dated December 21, 2021, by insertion of Explanation to Section 75(12) of the …
In the light of difficulties reported by the taxpayers and other stakeholders due to COVID and in electronic filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22 under the Income-tax Act, 1961 (‘Act’), CBDT has extended due dates as detailed hereunder: S. No Nature of Compliance Original Due Date …
Throughout the pandemic, the entire industry has seen remarkable growth. As Generation Z has grown, they have become an increasingly interesting area for financial technology players. In addition to new innovation and technology, the fintech industry is breaking the age barriers and is having customers across all age groups. And during this period of gloom, …
New ‘digital natives’ will drive fintech adoption, application Read More »
BENGALURU: AI visual inspection company, Lincode, has closed another round of funding. Founded by Rajesh Iyengar and Ritika Nigam, Lincode enables manufacturers to identify surface defects, measure individual components and generate real-time data about products on the production line through Lincode Visual Inspection System (LIVIS). Commenting on the investments, Rajesh Iyengar, Founder and CEO, said, …
AI visual inspection company, Lincode, raises investment from Accel, others Read More »
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