New ITR forms requires to declare Land / house, Vehicle and " cash in hand". Needs to be clarified what all is included in "cash in hand ". Does it include Bank deposits, NSCs , KVP, EPF, PPF, Mutual funds, shares? more
In principle ,cash in hand includes bank deposits and other investments as separate sub heads but the individual interpreters never disclose the hard cash ( mostly black money)kept in hidden treasures of house/ offices/lockers or elsewhere. It is very well known that sources of earnings from business of certain lines, agriculture,profession, agencies services, bribery etc have large scope to hide the illegal income from the eye of Income tax and correct information is also not revealed in ITRs. Since there is no question of voluntarily disclosure of illegal treasurers, govt should increase the number of raids on the income tax evaders every year. it is obviously seen in the society that certain people have no legal source of income but enjoying princely life with matching reputation. These examples places wrong messages in society and against hard work and morality. more
I had filed my income tax return for the assessment year 2021-22 under section 139(1) i.e., filed on or before the due date, and claimed the refund of Rs. 5000 plus. The same was acknowledged by th...
I am a senior citizen and filed my return on the 18th Oct but till date (23rd Dec) I have not recd my refund. I have called their Helpline no also many times. They say they will lodge my complaint ...
For bank fixed deposits in India: 2016: 9.3% interest 2019: 8% interest 2021: 5.5% interest Senior citizens retirement plans must be under water unless they did enough ...
God news. A lot of time has been vested. In the Court, it may be advised that any future such new thing must be tested in all respect and by all stakeholders, before the due date I.e. 31/03 in this...
Always wondered, why does an investor have to fill in income details with the broker? I buy shares if I have money. I do not need to have an income. And PAN number is a must. So why do you add this...
Rates on small savings schemes reduced by 50-90 basis points. PPF in April-June quarter to earn you only 6.4% interest against 7.1% earlier. Senior Citizens Savings Scheme to earn on 6.5% now compa...
I raised this point on earlier occasions also. No relief seen in any budget. I made a suggestion as follows: There are some schemes exclusively for the benefit of Senior Citizens like Se...
Request guidance as to which is the appropriate circle & authority to whom i can complain regarding the below mentioned issue: Lately with many of my relatives and friends staying in Gurga...
Recently our CBDT isued a press release saying it cannot punish compliant and honest tax payer by extending various due dates for the assessee who are dishonest, lazy and non compliant and our secu...
By SUBHASH PARAKH
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