The Challenges Faced By Taxpayers

In a major relief to small taxpayers, the finance ministry on Tuesday announced to extend the date for making tax-saving investments for the financial year to June 30, The decision has been taken keeping in view the challenges taxpayers must be facing in meeting the https://modernalternativemama.com/wp-content/custom/essay-samples/romanticism-of-humanism-in-walt-whitmans-son.php requirements under the countrywide lockdown announced on 23 March.

The last date for making tax-saving investments under the various sections of the Income Tax Act is 31 March or last date of a financial year. Earlier on Tuesday, the ministry clarified that it has not pushed the beginning of financial year from April 1 to July 1, as https://modernalternativemama.com/wp-content/custom/essay-samples/suspense-in-the-sniper.php being claimed by some social media posts.

Stimulus Payments

In the similar vein, the date for making investment for claiming roll over benefit or deduction in respect of capital gains under sections 54 to 54GB has also been extended to 30 June The Challenges Faced By Taxpayers These new features have been added to the various measures related to compliance and regulation that were announced by finance minister Nirmala Sitharaman on 24 March.

Among other measures, the last date of filing of original as well as revised income-tax returns for the financial year and linking of Aadhaar-PAN has also been extended to June Under the Vivaad se Vishwas scheme, taxpayers will now be able to pay their dues till June 30 without having to pay the extra 10 per cent interest on the principal amount.

This amnesty scheme was launched by the government in the https://modernalternativemama.com/wp-content/custom/critical-thinking/nclex-studyguide-pn.phpwherein the taxpayer only has to pay the disputed amount and gets a waiver of interest and penalty. Also, interest rate for delayed deposit of tax deducted at source TDS has been halved to 9 per cent from the existing 18 per cent.

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The Challenges Faced By Taxpayers - opinion

This due to the fact that taxation faces a lot of challenges in developing countries, and once these challenges are not properly dealt with, it becomes a big disadvantage to the government and citizens of that country, as enough revenue will not be generated to the government. Various challenges such as complex tax structure, tax evasion, and inadequate logistics are making taxation difficult in Ghana. All these challenges reduce the amount of revenue generated by the Government. The inability of the government to tackle these challenges will encourage economic instability, poor infrastructural development and poor economic growth. The researcher used Internal Revenue Service Ghana Eastern Regional Office , as a case study to find out the challenges associated with income taxation in Ghana, as well as solutions to these challenges. Concerning methodology, data used in compiling this research were gathered from both primary and secondary sources. The Challenges Faced By Taxpayers.

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The Challenges Faced By Taxpayers	84
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The Progressive Era	14 hours ago · For this reason, they recently published a report aimed at combating money laundering and terrorist financing, which points out, among others, the following difficulties in its control: Technology features that increase anonymity, such as the use of peer-to-peer exchange websites, mixing or. 2 days ago · That change would ease challenges attorneys and taxpayers are facing now that the court building is closed until further notice. That closure is highlighting technology challenges attorneys who represent clients at the court have long faced. State Financial Woes. 3 days ago · The decision has been taken keeping in view the challenges taxpayers must be facing in meeting the compliance requirements under the countrywide lockdown announced on 23 March. The last date for making tax-saving investments under the various sections of the Income Tax Act is 31 March or last date of a financial year.