What is Profession ? There is no proper definition of Profession is given under Income Tax Act.According to Sec 2(36) of Income Tax Act, “profession” includes vocation.Sec 44AA deals with the professions that required to maintain books of accounts are, Legal Medical Architectural Accountancy Technical consultancy Interior decoration Any other profession notified by CBDT Is ‘Income from Salary’ included in ‘Income from Profession’ ? ‘Income from Salary’ is a different income head and it is not included in ‘Income from Business or Profession’. Employee gets Form 16 (Certificate of TDS…
Tag: lakh
GST Revenue Collection in July 2024 Rises to 1.82 Lakh Crore
The collection of GST revenue has surged by 10.3% year on year to Rs 1.82 lakh crore in July, it is the third highest monthly mop-up, led by a robust rise in taxes collected from imports, as per the official data. The GST revenue collection in July was 4.75 per cent more increased than June’s number of Rs 1.73 lakh crore. From imports, the GST collections jumped by 14.2 per cent in July. In June it recorded a slow growth of 2.4 per cent. Tax experts mentioned that an import…
Study estimates 11.9 lakh excess deaths in 2020 during pandemic, 8 times more than official | India News
In India, 11.9 lakh excess deaths occurred in 2020 during the COVID-19 pandemic, 17 per cent higher compared to 2019, an international study has found. The estimate is about eight times higher than the official COVID-19 deaths in India, and 1.5 times the World Health Organization’s estimates, researchers, including those from the University of Oxford, UK, said. Using data of over 7.65 lakh individuals, the study estimated changes in life expectancy at birth, by gender and social group between 2019 and 2020 in India, a country where one-third of global…
NEET UG 2024: NTA to release results of 23.8 lakh candidates at exams.nta.ac.in/NEET/ | Education News
The Supreme Court on Thursday (July 18) directed the National Testing Agency (NTA) to release the result of all candidates who appeared for the National Eligibility cum Entrance Test, Undergraduate (NEET UG) 2024 on May 5. “We direct the NTA to publish the marks obtained by students at the UG-2024 NEET examination, while, at the same time, without disclosing the identity of the students. The result should be declared city and centre-wise by 12 noon on 20 July 2024 and shall be uploaded on the website of the NTA,” a…
Over 4.21 lakh traffic violations caught on camera in 6 months in Chandigarh | Chandigarh News
Over 4.21 lakh traffic violations have been caught on camera in Chandigarh in the first six months of 2024, according to data compiled by Chandigarh Smart City Limited, which manages the Integrated Command Control Centre (ICCC). The category that had the highest traffic violations was red-light jumping. As many as 2,69,487 people—over 1,500 people a day—jumped traffic signals. Speeding was the next most frequent violation. Over 80,897 challans were generated for speeding in the city. This meant over 400 people were caught speeding on the city roads daily. As many…
2 arrested, juvenile held for trying to extort Rs 50 Lakh from gym owner: Police | Delhi News
Two men were arrested and a juvenile apprehended after they allegedly attempted to intimidate a gym owner in Burari to extort Rs 50 lakh from him. Police said during questioning, one of them allegedly confessed they were acting on instructions from a gangster who’s jailed in Tihar. On July 5, Rohit (who goes by one name), was sitting in his friend’s car when he noticed two young men, with their faces covered, approaching him on a bike. One of them was carrying a pistol, he told police. The men allegedly…
Assam flood: Over 12 lakh affected in 24 districts, 7 more dead | North East India News
The flood situation in Assam continued to be grim with seven deaths reported in the last 24 hours, even as the number of affected people decreased marginally to 12 lakh in 24 districts, an official bulletin said on Friday. The Brahmaputra and three other major rivers are flowing above the danger level in different parts of the state, it said. Chief Minister Himanta Biswa Sarma said the overall situation was improving with waters receding in most parts. The Assam State Disaster Management Authority (ASDMA) bulletin said 12,33,236 people in 75…
Woman duped of Rs 30 lakh by fraudsters posing as German embassy officials | Pune News
A businesswoman from Pune was allegedly duped of Rs 30 lakh by cyber fraudsters posing as officials from the German embassy and buyers from a German cosmetics firm. An FIR in the case was registered at Hinjewadi police station Sunday based on the complaint by the woman, who runs a food exports business, which is registered on Agricultural and Processed Food Products Export Development Authority (APEDA) website. In April, the complainant received a call from an international number from a woman who identified herself as a buyer from a Germany-based…
After 7 Years of GST, The Number of Active Taxpayers Reaches 11.95 Lakh from 5.08 Lakh
There has been a tremendous 134% rise in the number of new taxpayers, since the incorporation of the GST 7 years ago. As per the information from the state commercial tax department, currently, the number of active taxpayers has increased from 5.08 lakh on 1st July to 11.95 lakh. The same rise is due to the significant formalization of the economy and new investments as cited by industry experts and tax professionals. Driving Factors to Raise the GST Registration State Goods and Services Tax (SGST) department source emphasized that increasing…
Cop loses Rs 7 lakh to con men in online share trading | Pune News
[ad_1] Cyber criminals duped a policeman to the tune of Rs 7 lakh in an online share trading scam. The policeman lodged the FIR in this case at Shivajinagar police station on Saturday.As per the FIR, in November 2023, a cybercriminal added the complainant policeman to a WhatsApp group and told him he could earn huge profits through online share trading. A fraudster posing as a ‘customer care’ executive called the complainant over phone assuring daily profit on purchase of shares and up to three times ‘commission’ on subscribing IPOs.…