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Income Tax

Unique Document Identification Number mandatory for Taxpayers

Unique Document Identification Number mandatory for Taxpayers
According to the new guidelines brought out by the Central Board of Direct Taxes (CBDT), the unique Document identification number (DIN) will be mandatory “in respect of every notice, order, letter or any correspondence” with the department, by the taxpayers. The government has made it mandatory for taxpayers as well as collectors to quote a [...] Continue Reading »

DTC Bill brings bad news for NRIs

DTC Bill brings bad news for NRIs
Direct Taxes Code Bill proposed to make an NRI liable to pay tax on global income The new DTC (Direct Taxes Code) Bill has been proposed in order to make an NRI liable to pay tax on global income if he resides in India in a particular year. In addition, the DTC has also removed [...] Continue Reading »

Realtors happy on the proposal to retain tax exemption on housing loan interest

Realtors happy on the proposal to retain tax exemption on housing loan interest
The much-awaited direct tax code bill, aimed at simplifying the country’s archaic direct tax laws, was passed by the cabinet on Thursday.Those who have a home loan also have reason to cheer, as the interest exemption would continue for up to 150,000 rupees annually.The first draft of Direct Tax Code (DTC) was silent on exemption [...] Continue Reading »



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