Clipped from: https://economictimes.indiatimes.com/news/economy/finance/cryptos-put-indias-richie-rich-in-a-catch-22-situation-legality-of-transaction-may-be-questioned/articleshow/82076589.cmsSynopsis Others have purchased cryptos online from foreign sellers using their debit and credit cards. But there are question marks whether the LRS route
Category: Income Tax
Related Party Transactions – Section 188 of Companies Act, 2013–TAX GURU
Clipped from: https://taxguru.in/company-law/related-party-transaction-sections-188-companies-act-2013.html How to Identify whether the proposed transaction is a Related Party Transaction u/s 188 of Companies Act, 2013 or not? 1st Stage (Preliminary
Extension of time barring assessments –taxscan
Clipped from: https://www.taxscan.in/cbdt-extends-time-barring-assessments-to-30th-april-2021-and-penalty-to-29th-june-2021-read-notification/102878/ By Taxscan Team – On March 1, 2021 11:01 am The Central Board of Direct Taxes (CBDT) notifies CBDT notifies Extension of time barring Assessments to 30th April
How to E-File Your Income Tax Return (ITR)–tax guru
Clipped from: https://taxguru.in/income-tax/e-file-income-tax-return-itr.html THE PROCESS OF ELECTRONICALLY FILING INCOME TAX RETURN THROUGH THE INTERNET IS KNOWN AS e-FILING. WHO CAN e-FILE? -Individual -HUF -Company/BOI/A0P/Firm/Trust/Local authority/Artificial juridical
Time Limit Reduced for Re-opening Income Tax Proceedings proposed in Budget 2021 | CA Club
Clipped from: https://www.caclub.in/time-limit-reduced-for-re-opening-income-tax-proceedings/ Reduction in Time Limit has been proposed in Budget 2021 for Re-opening of Income Tax Proceedings within 3 years, as against existing limit
OCI card holders: Expert Take: All your questions about the recent OCI changes, answered. – The Economic Times
Clipped from: https://economictimes.indiatimes.com/nri/migrate/expert-take-all-your-questions-about-the-recent-oci-changes-answered-/articleshow/82059519.cmsSynopsis An important modification introduced by the March 2021 circular changes the reporting obligations of OCI cardholders in India. They now have to report
TDS on Dividend Income: How to get relief if you don’t have taxable income – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/tds-on-dividend-income-how-to-get-relief-if-you-dont-have-taxable-income/2232150/ The details of dividend income and TDS will now be available on the new format of Form 26AS to make filing of Income
Invest in spouse or child’s name to avail of exemption, say analysts | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/invest-in-spouse-or-child-s-name-to-avail-of-exemption-say-analysts-121041201386_1.html Both Sections 54 and 54F allow taxpayers to claim exemption from tax on long-term capital gains Invest the entire sale consideration net of
Your Income Tax Queries: Is it mandatory to transfer PF to a new company account after switching jobs? – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/your-income-tax-queries-is-it-mandatory-to-transfer-pf-to-a-new-company-account-after-switching-jobs/2231722/ You can adjust loss on NCD sale within 3 years against short/ long term capital gains he loss that you have incurred shall
Bengaluru lone bright spot in direct tax mop-up with 7.3% growth | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/bengaluru-lone-bright-spot-in-direct-tax-mop-up-with-7-3-growth-121041200008_1.html Hyderabad reported a 4 per cent decline with a collection of Rs 55,000 crore in FY21 against Rs 57,000 crore a year earlier.
When to Say No to Cash Transaction under Income Tax Act, 1961–tax guru
Clipped from: https://taxguru.in/income-tax/cash-transaction-income-tax-act-1961.html A. Income Tax Act, 1961 discourages transactions in cash through several of its provisions. This is done with a view to- counteracting money
Net direct tax mop up exceeds revised estimates at Rs 9.45 lakh crore in FY21 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/indias-income-tax-receipts-surpass-revised-budget-target-for-2020/21-official/articleshow/81983940.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis “Net direct tax collections for the financial year 2020/21 have shown an upswing, despite the inherent challenges brought on by the COVID-19 pandemic,”
Crackdown on tax evaders: I-T notices to holders of foreign assets | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/crackdown-on-tax-evaders-i-t-notices-to-holders-of-foreign-assets-121041000067_1.html Seek action under black money and benami laws for non-disclosure The notices have been issued ahead of the April 30 deadline, which has
Related Party Transactions – Section 188 of Companies Act, 2013
Related Party Transactions – Section 188 of Companies Act, 2013 https://taxguru.in/company-law/related-party-transaction-sections-188-companies-act-2013.html 1st Stage (Preliminary test) 1. Is it a transactio…. Read More
Audit Under Income Tax Act 1961–TAX GURU
Audit Under Income Tax Act 1961 A taxpayer is required to have a tax audit carried out if the sales, turnover or gross receipts of
Rule 12 of Income Tax Rules wef 01.04.2021 | ITR | AY 2021-22–TAX GURU
Clipped from: https://taxguru.in/income-tax/rule-12-income-tax-rules-wef-01-04-2021-itr-ay-2021-22.html Taxguru Team compiled Rule 12 of Income Tax Rules considering amendment vide Notification No. 21-2021/Income Tax Dated 31st March, 2021 for ready reference of our
Section 44AB of Income Tax Act – Tax Audit Criteria & Penalty–POLICY BAZAAR
Clipped from: https://www.policybazaar.com/income-tax/section-44ab-of-the-income-tax-act/ Investment plans that help you save tax upto Rs. 46,800 u/s 80C*.Get Tax Free Maturity u/s 10(10D)Name NameMobile Mobile+91Email EmailView PlansPlease wait. We Are Processing..By clicking
I-T dept starts issuing reassessment notices for time-barred FYs – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/i-t-dept-starts-issuing-reassessment-notices-for-time-barred-fys/articleshow/81965947.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis “The IT department has started issuing notices seeking to reassess income tax liability of taxpayers for these financial years, scrutinizing the income tax
nri incomes taxable in india: The types of NRI incomes that are taxable in India – The Economic Times
Clipped from: https://economictimes.indiatimes.com/nri/invest/the-types-of-nri-incomes-that-are-taxable-in-india/articleshow/81964110.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Tax on an individual’s income depends on the source of such income and the residential status in India. The residential status of an
CBDT extends time barring Assessments to 30th April 2021 and Penalty to 29th June 2021–tax scan
The Central Board of Direct Taxes (CBDT) notifies CBDT notifies Extension of time barring Assessments to 30th April 2021 and Penalty to 29th June 2021. The Board
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