STATEMENT
ITR filing: Credit card and forex spend reported separately by banks in AIS, know the impact and what you can do
Income tax return: While filing your ITR make a note that banks are now reporting total forex spends as a separate category in addition to total credit card spends. According to Gopal Bohra, Partner, N.A. Shah Associates, "Transactions through international credit cards are currently exempt from TCS, and accordingly, banks do not collect TCS. However, banks report all remittances under LRS through TCS filing, irrespective of whether TCS is collected or not."
Unfortunate that Rahul Gandhiji's statements are being distorted: Shiv Sena (UBT) leader Priyanka Chaturvedi
After Rahul Gandhi's remarks in Parliament sparked political turmoil, Shiv Sena leader Priyanka Chaturvedi criticized the distortion of his statements, clarifying that he referred specifically to those who misuse Hindu identity for political gain, distinguishing this from genuine faith. She emphasized Gandhi's intention to differentiate between BJP-RSS and the broader Hindu community.
Kangana Ranaut, Chirag Paswan & Ravi Kishan on Rahul Gandhi's 'Hindu' statement: 'Laughable', 'unfortunate'
In his first Lok Sabha speech, Leader of the Opposition Rahul Gandhi drew parallels between the Opposition and Hinduism by showing an image of the Hindu god Shiva. He highlighted the Opposition's calm demeanour, likening it to the god's 'abhay...
ITR filing documents FY2023-34: Dos and don'ts for scanning and uploading attachments on e-filing portal
Here is the list of documents required for ITR filing that you must collect and keep handy: PAN and Aadhaar, Form-16 from your employer, Form 16A from banks and other TDS certificates, Interest certificates, Annual Information Statement (AIS), Form 26AS, Form 26AS, Capital gains documents, Tax saving investment and expenditure proofs, Foreign income and unlisted shares proofs, Bank account details.
DK Shivakumar warns against statements to media amid growing calls for adding more DY CM posts
Deputy Chief Minister DK Shivakumar attempted to suppress the discussion on expanding the number of deputy CM positions, stating that those vying for the role would find no resolution by airing their demands through the media. He highlighted that Chief Minister Siddaramaiah had cautioned ministers against exacerbating the ongoing debate with public statements, Shivakumar disclosed on Thursday.
NEET-UG Row: Opposition sharpens attack at Centre; demands PM Modi's statement on paper leak issue
National Conference President Dr Farooq Abdullah termed the alleged irregularities in the NEET examination 2024 a crime committed against students and said that those who qualified for the exams by studying and not buying papers have been subjugated to...
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Error in AIS: How to correct errors in Annual Information Statement to file ITR
ITR filing: The Annual Information Statement (AIS) is comprehensive view of information for a taxpayer displayed in Form 26AS. Taxpayers can provide feedback on information displayed in AIS.
Justin Timberlake arrest: What his lawyer has said? The next date for hearing and other details
Justin Timberlake was charged with one count of driving while intoxicated and two other traffic violations, including not stopping at a stop sign and failure to stay in a proper lane of travel.
How to download Form 26AS to file ITR
When filing your income tax return, you should check that the details you input match the information provided in this document. If there is a discrepancy, the income tax site will display an error when you submit your tax return.
Draft G7 statement makes no mention of abortion, sparks LGBTQ criticism
The abortion issue caused a diplomatic spat between Rome and Paris, with Italian Prime Minister Giorgia Meloni accusing French President Emmanuel Macron of seeking to score political points ahead of a national election in France.
A look at Ambani bride-to-be Radhika Merchant’s four stunning looks at the pre-wedding festivities
Radhika Merchant looked stunning during the pre-wedding celebrations. The Encore Healthcare heir, soon to marry Reliance Industries' heir Anant Ambani, made a flawless fashion statement each day of the four-day festivities.
G7 opposes China's 'dangerous' S. China Sea forays: draft statement
"We continue opposing China's dangerous use of coastguard and maritime militia in the South China Sea and its repeated obstruction of countries' high seas freedom of navigation," it said.
India rejects references to Jammu and Kashmir in China-Pakistan joint statement
India has firmly rejected unwarranted references to the Union Territory of Jammu and Kashmir in a joint statement by China and Pakistan. The Ministry of External Affairs (MEA) emphasized that Jammu and Kashmir, along with Ladakh, are integral parts of India, and no other country has the right to comment on their status. India also opposed references to the China-Pakistan Economic Corridor (CPEC) in territories under Pakistan's illegal occupation. The rejection underscores India's commitment to defending its territorial integrity and sovereignty amid ongoing tensions with China and Pakistan.
With a little help from our AI friends
AI is now better at picking stocks than humans. Thus spake not Zarathustra but a May 2024 Chicago Booth research paper, 'Financial Statement Analysis with Large Language Models'. Reaction to this information so far straddles the spectrum from 'Financial apocalypse is nigh!' to 'So what?'
Amit Malviya to file criminal defamation case against lawyer Santanu Sinha over 'slanderous' remark
Kolkata-based lawyer Santanu Sinha, who was served a legal notice for making "false and defamatory allegations" against Malviya, on Tuesday claimed that his statements were "misinterpreted". Sinha also said he will not withdraw the post but expressed "heartfelt sorrow" if it hurt Malviya.
SBI launches digital business loans for small and medium cos
SBI launches SME digital loans programme using data from tax and GST returns for quick credit assessment and loan approval up to ₹50 lakh in 10 seconds without human intervention.
Elections in J&K: EC's latest action shows assembly polls imminent in Jammu and Kashmir
Jammu & Kashmir lections: The Election Commission has opened applications for 'common symbols' from unrecognised parties in Jammu and Kashmir, indicating imminent assembly polls. Recognised parties have reserved symbols, while unrecognised parties must apply. Chief Election Commissioner Rajiv Kumar plans to hold assembly polls soon after the high voter turnout in the recent Lok Sabha elections.
RBI cautions micro finance lenders against usurious interest rates
The Reserve Bank of India (RBI) has warned lenders, particularly in the microfinance sector, against charging "usurious" interest rates by exploiting the regulator's freedom. While most lenders follow guidelines on the Key Facts Statement (KFS), some continue to impose undisclosed fees and high interest rates, particularly on small-value loans provided by microfinance institutions (MFIs) and non-banking financial companies (NBFCs).
HDFC Bank's netbanking services will not be available for several hours on 9th and 16th June. Check details
HDFC Bank announces scheduled maintenance for online services on June 9 and 16, affecting netbanking, mobile app services, and transactions including UPI payments.
Dlip Ghosh's oblique statement sparks speculations on inner-party factions in Bengal BJP
Fissures within the BJP West Bengal unit are showing after 'disappointing' performance in state parliamentary polls, sparked by Dilip Ghosh's suggestive statement on 'old-versus-new' debate.
India to drag Australia to WTO arbitration on services trade commitments
India has taken Australia to arbitration at the WTO over changes to services commitments, impacting trade. The new regulations aim to lower global trade costs by $125 billion.
Audit panels of companies can’t escape blame by citing auditors’ failure: NFRA chief
NFRA chairman Ajay Bhushan Pandey emphasized the audit committee's responsibility in ensuring accurate financial statements, even if auditors fail in their duty. He highlighted the need for meaningful communication between audit committees and auditors, stating that it should not be a mere formality. Pandey's remarks come as the NFRA plans to engage with large listed companies to promote accounting standards and curb corporate frauds. This regulatory outreach is part of efforts to protect retail stock investors, a focus highlighted by Finance Minister Nirmala Sitharaman.
Karnataka Home Minister Parameshwara defends his statement on selection of MLC candidates
Karnataka Home Minister G Parameshwara defended his statement on finalizing party candidates for the MLC polls, suggesting a screening committee. The matter has reached the party high command in New Delhi.
Prosecutors seek to bar Trump in classified files case from statements endangering law enforcement
The presumptive Republican presidential nominee was referring to the disclosure in a court document that the FBI, during the search, followed a standard use-of-force policy that prohibits the use of deadly force except when the officer conducting the search has a reasonable belief that the "subject of such force poses an imminent danger of death or serious physical injury to the officer or to another person."
"LG Saxena's statement proves Swati Maliwal is working for BJP": AAP
In a statement issued, AAP said, "LG's statement proves that Swati Maliwal is working for the BJP. The BJP is hatching a new conspiracy every day during elections--sometimes liquor scam, sometimes Swati Maliwal, sometimes false allegations of foreign funding. The BJP will use new tactics every day during the elections. The BJP is losing badly. Modi Ji's sinking ship is taking support of Swati Maliwal."
BJP resorting to violence in face of defeat: Congress after 'attack' on Kanhaiya Kumar
Congress condemns BJP for violence against Kanhaiya Kumar, asserting confidence in a historic defeat. Jairam Ramesh highlights Congress's Gandhian identity and commitment to fighting for justice, criticizing BJP's hooliganism and fear tactics.
CBDT brings new update in income tax AIS; now you can check the status of correction request; Here's how it works
Annual Information Statement (AIS): The Central Board of Direct Taxes (CBDT) has updated the functionality of AIS which can be found on the compliance portal. Now after you put in a correction request, you will be able to see whether the reporting source took any action at all. CBDT says this makes the system more transparent.
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