The government Saturday notified income tax return (ITR) forms for taxpayers for filing returns for assessment year FY 2020-21. Taxpayers including individuals, Hindu undivided family, professionals and businesses, will be able to avail benefits of savings or investments made between April 1 and June 30, following the extension timelines provided by the finance ministry owing to Covid 19 pandemic. Taxpayers will have dedicated space in each of the ITR forms - Sahaj (ITR-1), Form ITR-2, Form ITR-3, Form Sugam (ITR-4), Form ITR-5, Form ITR-6, Form ITR-7 and Form ITR-V – to describe investments of expenditures made during the quarter ended June 30, which will get counted in deductions or exemptions. The government has extended several timelines under income tax by a quarter from March 31, to allow taxpayers to make investments, payments or donations for claiming exemptions and deductions, besides the roll over benefit of capital gains. The forms also seek details from taxpayers … [Read more...] about Income tax return forms for FY 2020-21 notified
Unfiled tax returns
Arun Kumar: You are absolutely right. I agree with Dr. John on masks, incomes for people to survive. What he is also pointing out is that our public health system is broken, not able to take care of the poor. For instance, rural and semi-rural areas have very poor facilities, and as the disease spreads there, the death rate could go up. What we needed to do was focus on building up our health infrastructure rapidly - doctors, nurses, testing. We have never paid attention to social infrastructure, on education, health, drinking water, etc and that’s why we are facing the problem, and could not implement the lockdown. Unlike China which could implement and control it and within three months there were no reports of fresh disease. It is because of the failure of governance, that we could not implement the lockdown better. We are paying for what we have not done for the past 70 years. I see the divide between the organised and unorganised sectors. The organised sector can use … [Read more...] about Can India’s workforce have a safe return to business?
In an article published on Saturday, it claimed: “Earlier this year, Kylie Jenner sold half of her cosmetics company in one of the greatest celebrity cash-outs of all time. But the deal’s fine print reveals that she has been inflating the size and success of her business for years”. … [Read more...] about ‘Web of lies’: Kylie Jenner stripped of billionaire status
Mumbai: Falling bank deposit rates should not make you lose heart. Fixed deposits of top-rated companies could be an attractive investment option, especially for those desiring safety and reasonable returns. With the Reserve Bank of India announcing the closure of government bonds that paid 7.75 per cent interest and the country’s largest lender State Bank of India slashing deposit rates, financial planners are advising investors to consider fixed deposits of companies such as HDFC, Bajaj Finance, ICICI Home Finance and Mahindra Finance. Investors in a corporate deposit can earn as much as 200-240 basis points higher than deposit with a nationalised bank like SBI. While an SBI deposit pays a maximum of 5.4 per cent, a deposit in Mahindra Finance pays 7.8 per cent for 40 months. Bajaj Finance offers 7.6 per cent for a five-year deposit. Investors can opt to receive interest payment on a monthly, quarterly or annual basis, and many retirees often use such products to meet their … [Read more...] about Investors could look at top-rated company FDs as options shrink
— Kylie Jenner (@KylieJenner) May 29, 2020 Jenner responded in a series of tweets, saying “what am i even waking up to. i thought this was a reputable site.. all i see are a number of inaccurate statements and unproven assumptions lol. i’ve never asked for any title or tried to lie my way there EVER. period.” … [Read more...] about Kylie Jenner reacts after Forbes said she isn’t a billionaire, spun a ‘web of lies’ for her title