by AIP Online Bureau | Jan 16, 2025 | Indian News
During investigation, it was revealed that such individuals are employees of organisations operating in diverse fields including PSUs, big corporations, MNCs, LLPs, Private Ltd Companies, etc, sources said. Also, most of them who claimed wrongful deductions were...
by AIP Online Bureau | Aug 17, 2024 | Health, Indian News, Policy, Wealth Management/ Philanthropy
Senior IT officials told that transactions over Rs 2 lakh in cash were required to be reported through a statement of financial transaction (SFT) by financial institutions but that was not happening. The department identified some of the businesses, such as hotels,...
by AIP Online Bureau | Apr 1, 2024 | Data, Eco/Invest/Demography, Pension & Social Security, Policy
Under the new tax regime, the tax rates are significantly lower, though the benefit of various exemptions and deductions (other than standard deduction of Rs 50,000 from salary and Rs 15,000 from family pension) is not available, as in the old regime, the Finance...
by AIP Online Bureau | Jan 12, 2024 | Indian News, Life, Policy
For LIC, this is second time in recent years large IT refund has happened. Earlier it had received a IT refund of Rs 6000 crore Mumbai: Life Insurance Corporation of India (LIC) said it has received an income tax refund of Rs 25,464 crore relating to interim bonus to...
by AIP Online Bureau | Jan 11, 2024 | Indian News, Life
Corporation shall file an appeal before Commissioner (Appeals), Mumbai against the said orders within the prescribed timelines. There is no material impact on financials, operations or other activities of the Corporation due to the abovementioned orders,” the...
