Tag: Income Tax

CBDT issues circular on TDS collection for FY 2022-23

The Central Board of Direct Taxes (CBDT) issues a circular that explains the deduction of TDS from salaries. The board said that income tax...

Government staff cannot claim LTC for foreign trips: SC

The Supreme Court has ruled that Leave Travel Concession (LTC) cannot be claimed by government employees for foreign travel or for long circuitous trips. A...

No tax on amount received from employer for COVID treatment

As per the amendment of Section 56 of the Income Tax Act, via the Finance Bill, 2022, any amount received by an employee from...

Salary of Indians employed in the Gulf not taxable in India

When the Indian finance minister had said a month ago that non-resident Indians NRI) who did not pay taxes in the foreign countries where...

Hiring cabs to pick/drop staff? Cannot claim ITC on GST

According to the Himachal Pradesh bench of the Authority for Advance Ruling (AAR), input tax credit (ITC) for GST cannot be claimed by any...

Date for employers to issue TDS certificates/Form 16 extended to June...

The Government has extended the deadline for employers to issue tax deduction at source (TDS) certificates, or Form 16, to June 30, 2020. Usually,...

Bihar government employees haven’t paid tax on house rent allowance

As per income tax rules, salaried employees do not have to pay tax on a significant part of the house rent allowance (HRA) —...

Now, daily travel allowance to be taxed on failure to submit...

Any allowance paid to the assessee to meet his personal expenses at the place where the duties of his office are ordinarily performed is not exempt under the Income Tax Act.

CFOS, tax heads, Sr. finance professionals expect a change in income...

People want multiple outdated deductions to be replaced with standard deductions to boost disposable income in the hands of the people. 

245 non-performing income tax commissioners reshuffled

The department is putting performers on key positions, whereas the non-performers are being discharged from significant roles and shifted to other locations.

Salary deducted for unserved notice period not taxable: ITAT

Only salary received would be taxable, and not portions, which were deducted by a company for not serving a notice period.

Employee strikes in European countries

On January 25, 2023, at Berlin Brandenburg Airport (BER), all passenger flights were canceled as airport staff walked out because of a dispute over...

Latest

Twitter has 2300 working employees, after mass layoffs

According to CNBC reports “Twitter’s full-time headcount has dwindled to approximately 1,300 active, working employees, including fewer than 550 full-time engineers by title. Around...

Now job loss in diamond sector too; 20% dip in diamond production

A major slowdown has gripped the diamond sector in the country. With reports of many small units having been shut down amidst a significant...

Maternity leave issues across the globe

In India, about 40 government doctors in the state of Tamil Nadu are being denied maternity leave and associated benefits. These doctors who went...

Subhashis Sinha is now CHRO, TBZ-The Original

After spending over a decade with Asian Paints, Subhashis Sinha has joined TBZ- The Original, as CHRO. An alumnus of IIM Bangalore, Sinha began his...

DIALOGUE

EQ, IQ & empathy define the success of a CEO

Q. You spent 16 years at LIC before moving to a corporate role at ICICI Prudential. Now, 22 years on, I am still curious...

“The big change has been that we have moved from jobs to skills,” Amaresh...

Q. How would you define the culture at GE? A. Having been present in this region since 1902, GE has been around for 120 years....

“Being good to everyone is being unjust to performers,” Mathew Job, CEO, Crompton

Q. In today’s times, what’s more challenging for a CEO like you — profit & business growth, talent & people, diversification, compliance or managing...