Category: Income Tax

Clipped from: https://economictimes.indiatimes.com/news/economy/policy/crypto-investors-seek-clarity-on-reporting-assets-in-i-t-returns/articleshow/93668017.cms Synopsis Having shifted the coins offshore using the Blockchain network to avoid stifling regulations, they have sensed that sharing the information with Income

lipped from: https://economictimes.indiatimes.com/wealth/tax/itr-filing-how-to-submit-annual-information-statement-ais-feedback/articleshow/93109316.cms Synopsis The AIS Consolidated Feedback file (ACF) allows taxpayers to obtain all of their AIS feedback, excluding feedback, ‘Information is correct,’ in one

Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-return-ltcg-on-equities-up-to-rs-1-lakh-is-tax-free-but-you-may-still-end-up-paying-tax/2606280/ Despite keeping the aggregate income within Rs 5 lakh and LTCG within Rs 1 lakh, you may still end up paying tax. You

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-income-tax-exemption-limit-for-senior-citizens/article65671759.ece The basic exemption limit available is currently ₹3 lakh for senior citizens I am a senior citizen. In FY 2021-22 I have earned

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/simply-put-tds-vs-total-tax-liability/article65670149.ece TDS doesn’t mean all that you are obliged to pay has been paid  Two friends meet at a bowling alley and the following

lipped from: https://economictimes.indiatimes.com/opinion/et-commentary/how-to-value-valuation-right-its-time-for-taxmen-to-get-pragmatic/articleshow/93060657.cms Synopsis Tax authorities tend to challenge the valuation by claiming that the projections used are not realistic. Consequently, they claim that the shares

Clipped from: https://economictimes.indiatimes.com/wealth/tax/what-is-the-difference-between-annual-information-statement-ais-and-form-26as/articleshow/93051601.cms Synopsis Prior to the introduction of AIS, the taxpayer’s Form 26AS contained the majority of the information (also known as the tax passbook).

lipped from: https://www.business-standard.com/article/current-affairs/itr-2021-22-everything-you-need-to-know-about-updated-income-tax-return-122072200216_1.html In the Finance Bill, 2022, the government introduced the concept of ‘updated ITR’. It allows the assessee to file the ITR within 24

Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-tips-for-nris-buying-property-in-india/2602113/ NRIs need to make all payments in rupees and through banking channels via an NRI account NRIs can transfer any immovable property to

Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-filing-how-to-claim-set-off-of-capital-loss-against-capital-gains-in-your-income-tax-return/articleshow/92868368.cms Synopsis A loss ocurrs when an individual sells his/her asset below the asset price. These losses can help an individual in reducing net