NEWS

NEW DELHI: Exporters of goods and services as well as suppliers to SEZ units are likely to get GST refunds automatically from June as the revenue department plans to introduce faceless scrutiny of refunds and faster claim settlement, an official said. Under GST, every person making a claim of refund on account of ‘zero-rated’ supplies has two options. Either he can export without payment of integrated tax under Bond/ LUT…

NEW DELHI: The telecom watchdog is considering regulation of over-the-top (OTT) apps that stream TV channels, such as Hotstar, Airtel TV and Sony Liv, to bring them under a licensing framework similar to the one for broadcasters. Trai, which recently introduced new tariff rules aimed at making television viewing more affordable, now plans to focus on carriage of TV channels via apps that are currently unregulated and, in some cases,…

1. Form 16 is a certificate issued by an employer, certifying that the TDS is deducted from the salary of the employee and deposited with the government. 2. The form’s Part A contains employer’s TAN, PAN of employer and employee, address, assessment year, employment period and summary of TDS deposited with government. 3. The Part B of Form 16 consists of salary break-up, details of deductions claimed, total taxable income…

The government has notified the income tax return (ITR) forms for FY 2018-19. This means that you can now start collecting the documents need to file your ITR for FY 2018-19. Although you have till July 31, 2019 to file your return, keeping the required documents handy in advance will make the process easier. Here are the documents you must collect and things you must do before filing your ITR…

NEW DELHI: Exporters of goods and services as well as suppliers to SEZ units are likely to get GST refunds automatically from June as the revenue department plans to introduce faceless scrutiny of refunds and faster claim settlement, an official said. Under GST, every person making a claim of refund on account of ‘zero-rated’ supplies has two options. Either he can export without payment of integrated tax under Bond/ LUT…

The Income Tax department has revised Form 16 by adding various details, including income from house property and remuneration received from other employers, thereby making it more comprehensive to help check tax avoidance. It will also include segregated information regarding deductions under various tax saving schemes, investments in tax savings instruments, different allowances received by the employee as well as income from other sources. Form 16 is a certificate issued…

In the absence of an Aadhaar-based registration process, KYC verification is done through the bank account linked to your PAN. 1. Keep these documents scanned and ready PAN card* Driving license, passport or voter ID to be used as address proof Cancelled cheque of an active bank account. Netbanking facility should be available for the same account Passport-size photo (4-12 kb) Signature (12 kb) 2. Online registration Visit any of…

If you were celebrating the prospects of higher pension from the Employees Provident Fund Organisation (EPFO) after the Kerala High Court ruling, here’s some bad news. The EPFO is reportedly planning to challenge the high court order in the Supreme Court. Under the existing rules, a person covered by the Employees’ Pension Scheme of the EPFO will be paid a monthly pension based on his last drawn salary. But the…