Clipped from: https://www.business-standard.com/article/pf/include-cryptocurrency-gains-in-income-tax-returns-say-analysts-121072901736_1.html Treat it as capital gain if you buy and hold; as business income if you trade frequently Two ITR forms are relevant for
Category: Income Tax
Personal finance rule changes: 3 rule changes that will impact your money from August 1 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/save/3-rule-changes-that-will-impact-your-money-from-august-1/articleshow/84848250.cmsSynopsis From August 1, your salary credit into your bank account, auto-debits related to mutual fund SIPs, home/car/personal loans EMI payments, bill payments such
Ask Money Today: How is lottery prize taxed? – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/ask-money-today/story/ask-money-today-how-is-lottery-prize-taxed-302528-2021-07-27 The motor car won by you in the draw also falls in the category of lottery. Payer of such income is required to
IT notices issued in the name of deceased person null and void: Delhi High Court – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/it-notices-issued-in-the-name-of-deceased-person-null-and-void-delhi-high-court/article35589203.ece Legal heirs are under no statutory obligation to intimate the death of the assessee The Delhi High Court has held that Income-Tax notices
How to deal with Section 148 Notice issued after 31st March 2021?
Clipped from: https://taxguru.in/income-tax/deal-section-148-notice-issued-31st-march-2021.html The Finance Act, 2021 introduced a new set of reassessment proceedings from 1st April 2021.After such substitution, the Old provisions relating to Reassessment, do not survive.
Taxation of Non-Resident Indians–taxguru.in
Clipped from: https://taxguru.in/income-tax/taxation-non-resident-indians.html The Income-tax Act, 1961 provides for special provisions to tax the income from specified assets in the hands of Non-resident Indians. These provisions
HC stays I-T reassessment notice under Sec 148 in VIT case – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/education/hc-stays-i-t-reassessment-notice-under-sec-148-in-vit-case/article35576243.ece The Income Tax department claimed that the assessee’s income chargeable to tax for the assessment year 2015-16 has ‘escaped’ attention. The Madras High
Towards a lean tax department | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/towards-a-lean-tax-department-121072701781_1.html Worries about vacant positions and their impact on tax collection may be misplaced in a world of technological disruptions A news report in
Recurring Deposit Tax Exemption: I have a monthly recurring deposit of Rs 20,000. Will I have to pay income tax annually? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/i-have-a-monthly-recurring-deposit-of-rs-20000-will-i-have-to-pay-income-tax-annually/articleshow/84757434.cmsSynopsis There is an option available to offer interest income for tax on accrual basis or receipt basis, at the discretion of the assessee.
NPS investment: I am 58 years old and want to invest in NPS Tier 1 for tax reasons. Can I do so at this age? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/i-am-58-years-old-and-want-to-invest-in-nps-tier-1-for-tax-reasons-can-i-do-so-at-this-age/articleshow/84169584.cmsSynopsis If the total pension corpus is less than or equal to Rs 5 lakh, you can process a 100% withdrawal, and there is
ITR filing: How banks, mutual funds and companies will check if you have filed ITR – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-banks-mutual-funds-and-companies-will-check-if-you-have-filed-itr/articleshow/84057122.cmsSynopsis Deductors of TDS/TCS like banks, mutual fund houses etc can now check if you have filed ITR when your income crosses the TDS
What are income tax benefits available on donations made? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/what-are-income-tax-benefits-available-on-donations-made/articleshow/84087217.cmsSynopsis Donations made to help people tide over the covid-19 pandemic can help you save income tax as well. Here is a look at
Honestly, a new code: Salaried taxpayers bear disproportionate burden. GoI must find ways to make evaders pay
Clipped from: https://timesofindia.indiatimes.com/blogs/toi-editorials/honestly-a-new-code-salaried-taxpayers-bear-disproportionate-burden-goi-must-find-ways-to-make-evaders-pay/TOI Edit Times of India’s Edit Page team comprises senior journalists with wide-ranging interests who debate and opine on the news and issues of
investment: 5 investment strategies that can help you avoid tax legally, improve your investment returns – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/invest/5-investment-strategies-that-can-help-you-avoid-tax-legally-improve-your-investment-returns/articleshow/84703486.cms SynopsisEarning higher returns is not in the hands of investors. However, they can take steps to minimise their tax outgo. In this cover
करावे कर-समाधान : करपात्र आणि करमुक्त भेटी | लोकसत्ता
Clipped from: https://www.loksatta.com/arthvrutant-news/article-about-tax-on-gifts-income-tax-on-gifts-gift-tax-exemption-zws-70-2533358/ प्राप्तिकर कायद्यानुसार करदात्याला मोबदल्याशिवाय किंवा अपुऱ्या मोबदल्याने मिळालेली संपत्ती त्याच्या करपात्र उत्पन्नात गणली जाते प्रवीण देशपांडे pravin3966@rediffmail.comभेटी देणे आणि घेणे हा आपल्या संस्कृतीचा
Govt must cut number of slabs in Customs duty | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/govt-must-cut-number-of-slabs-in-customs-duty-121072600027_1.html The finance ministry has made a good beginning by reviewing the exemptions with intent to eliminate them The finance ministry has taken up a review
How you use a loan determines tax benefit | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/how-you-use-a-loan-determines-tax-benefit-121072500810_1.html Interest paid on even a loan against property is tax deductible if you can prove that the loan was utilised for your child’s
Several companies, individuals get tax notices as data analytics uncovers gaps in filings – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/india/several-cos-individuals-get-tax-notices-as-data-analytics-uncovers-gaps-in-filings/articleshow/84738929.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The government has used statistics of the last two financial years to create the audit checklist. Tax department have used big data analytics
Income Tax Return filing: 10 important things individual taxpayers must know before filing ITR – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-return-filing-10-important-things-individual-taxpayers-must-know-before-filing-itr/2296840/ Here are a few important things which individual taxpayers should know before filing their income tax return for AY 2021-22. Taxpayers are required
Targeting taxpayers | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/targeting-taxpayers-121072201549_1.html Tax department should not issue notices indiscriminately The latest dispute between the Income-Tax Department and some assessees is a good example of the
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