Tax Head News Today

Shri Ram Janmabhoomi Teerth Kshetra: Individuals can donate money to Ayodhya Ram Mandir Trust, however they must be sure to collect certain documents which are essential for claiming section 80G tax deduction for donations made to Ayodhya Ram Mandir. Donations can be made online or offline too, however up to Rs 2000 can be claimed as 80G deduction if the donation is made in cash.

India Business News: This article discusses the importance of rent receipts and agreements for claiming House Rent Allowance (HRA) tax deductions. Having both rent receipt

To claim HRA from their employers, many salaried employees usually use either rent receipts or rent agreement as proof of the rent paid in a financial year. However, tax experts point out that assessing officer of the income tax department can reject HRA tax exemption claim if any one of the documentary evidence is missing.

The discard option can be used repeatedly, provided the ITR status remains unverified or pending verification

The Income Tax Department has launched a new feature dubbed Discard Return wherein individuals could delete their previously submitted income tax return (ITR) and file a completely new ITR. This feature can be used multiple times and is offered at no cost to the taxpayers. Read here to know when can this feature be used and how.

KPMG Indirect Tax Head and Partner Abhishek Jain said a mid-year collection of such an increased number is definitely worth a cheer, and the ongoing festivities-driven consumption could help this continue.

The average gross monthly GST collection in the current fiscal has also shown an 11 per cent growth year-on-year at Rs 1.66 lakh crore

GST collections increased 13 per cent to Rs 1.72 lakh crore in October, the second highest-ever, helped by momentum in the economy, efforts of taxmen in checking evasion and festive demand.

The finance ministry late on Friday notified October 1 as the appointed date for the amended provisions in Central GST and Integrated GST laws to come into effect.

The finance ministry late on Sept 29 notified October 1 as the appointed date for the amended provisions in Central GST and Integrated GST laws to come into effect