Category: Income Tax

lipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-how-to-make-a-family-trust/article65560360.ece Income earned by the Trust in the nature of interest and dividend income would be taxable Myself and my wife are tax assessees.

lipped from: https://www.financialexpress.com/money/income-tax/taxpayers-face-issues-accessing-e-filing-portal-infosys-taking-measures-says-it-dept/2580625/ “It has been noticed that taxpayers are facing issues in accessing ITD e-filing portal. As informed by @Infosys, they have observed some irregular

Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/gift-cards-reward-points-not-virtual-digital-assets-says-cbdt/articleshow/92582726.cms Synopsis This will ensure that these products do not face the tax applicable on VDAs such as cryptocurrencies and non-fungible tokens (NFTs), introduced

Clipped from: https://economictimes.indiatimes.com/wealth/tax/3-income-tax-changes-effective-from-july-1/articleshow/92563497.cms Synopsis The income tax laws that apply to various individuals will see a few new changes in July. Here are three significant changes

Clipped from: https://economictimes.indiatimes.com/wealth/save/tds-on-crypto-new-credit-card-rules-higher-pan-aadhaar-linking-fine-5-changes-coming-into-effect-from-july/articleshow/92535810.cms Synopsis There will be a number of big financial changes in the month of July. Here are five monetary adjustments that will take

Clipped from: https://www.financialexpress.com/money/income-tax/tds-rule-for-social-media-influencers-under-section-194r-2022-explained/2577751/ TDS rule for social media influencers 2022: The new section mandates a person providing any benefit or perquisite to another person for their

Clipped from: https://www.deccanherald.com/business/family-finance/how-to-file-taxes-for-minors-1113627.html When it comes to filing the tax, a minor can also file, if their earning amount is over Rs 1,500 monthly Representative image.

Clipped from: https://economictimes.indiatimes.com/opinion/et-commentary/tax-on-drinks-at-gala-nights-new-tds-rules-can-mess-up-your-tax-math/articleshow/92443385.cms Synopsis Section 194R – that comes into effect from July 1 – provides that if any ‘person’ (barring those excluded) provides any benefit

lipped from: https://www.incometaxindia.gov.in/Pages/tax-services/response-to-outstanding-tax-demand.aspx The Taxpayer can submit the response online to the outstanding demand by either choosing to ‘Agree’ or ‘Disagree’ with the demand. Perform the

Clipped from: https://www.thehindubusinessline.com/economy/policy/loyalty-points-wallet-money-or-online-credit-not-to-attract-tds-provided-not-earned-through-business-or-profession/article65539760.ece The new section mandates a person providing any benefit to a resident to deduct a tax at source of @10 per cent of

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-how-to-reduce-capital-gains-from-sale-of-residential-plot/article65537354.ece Exemption under Section 54F can be claimed if the seller satisfies the conditions I have a detailed query on capital gains tax pertaining

Clipped from: https://www.financialexpress.com/money/income-tax/your-queries-income-tax-delisted-companys-shares-cannot-be-cited-as-losses/2557720/ Loss can be claimed only when the company goes into liquidation or the shares are actually transferred by you to another person for

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-calculating-capital-gains-from-equity-mfs/article65508509.ece LTCG over and above ₹1 lakh a year is taxable at a rate of 10 per cent I had been investing in an