Clipped from: https://economictimes.indiatimes.com/wealth/tax/nris-without-pan-can-manually-file-form-10f-till-march-31-2023-to-avoid-tds-on-payments-received/articleshow/96218833.cms Synopsis The Central Board of Direct Taxes (CBDT) has issued a notification on December 12, 2022 offering one-time relied to the non-resident taxpayers
Category: Income Tax
CBDT exempts NR taxpayers from mandatory Form 10F e-filing for now | Business Standard News*
Clipped from: https://www.business-standard.com/article/economy-policy/cbdt-exempts-from-mandatory-10f-form-requires-to-claim-tax-treaty-122121301228_1.html The form 10F is signed physically by the Non resident taxpayers and furnished along with the tax residency certificate to the resident payers
Tax Query: Tax audit applicability – The Hindu BusinessLine*
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-tax-audit-applicability/article66175655.ece Books of account are required to be maintained where the turnover (total value of sale transactions) exceeds ₹25 lakh or if the net
When unpaid loan can be claimed as business loss – The Hindu BusinessLine*****
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-when-unpaid-loan-can-be-claimed-as-business-loss/article66238488.ece The Act does not have provisions for an individual to carry forward or set off losses of a partnership firm in his individual
Income Tax Return: Why is ITR verification time limit reduced? Is the reduction going to stay? | The Financial Express**
Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-return-why-is-itr-verification-time-limit-reduced-is-the-reduction-going-to-stay/2911452/ An ITR filed online is not considered valid, unless it is verified within the prescribed limit – which was 120 days from the
File tax return by Dec 31 if you haven’t yet, to avoid notice and penalty | Business Standard News*****
Clipped from: https://www.business-standard.com/article/pf/taxpayers-should-file-belated-return-by-dec-31-to-avoid-notice-penalty-122121200921_1.html Meeting that deadline will allow you to claim refund on excess tax deducted Taxpayers who missed the July 31, 2022 deadline for filing their
How to file ITR online among the biggest searches in 2022! Know how it’s done | The Financial Express*
lipped from: https://www.financialexpress.com/money/income-tax/how-to-file-itr-online-among-the-biggest-searches-in-2022-know-how-its-done/2909450/ ‘How to file ITR online’ was one of the biggest searches in 2022, according to Google’s ‘Year in Search 2022’ report. Know how
TDS on Rentals: Section 194I, Section 194IB and Section 194IC*
Clipped from: https://taxguru.in/income-tax/tds-rentals-section-194i-section-194ib-section-194ic.html Section 194I : Any person excluding Individual and HUF (However if they have 1 Cr. Turnover in case of Business and 50 Lacs in
Tax Talk – TDS on perks: Further clarity needed despite CBDT circular | The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/tax-talk-tds-on-perks-further-clarity-needed-despite-cbdt-circular/2906818/ Several practical challenges in applying Section 194R remain With the objective to identify and tax such benefits, the Finance Bill 2022 introduced Section
Capital gains tax: A capital conundrum | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/capital-gains-tax-a-capital-conundrum-122120801548_1.html Defenders of preferential tax treatment argue that capital gains tax is a form of “double taxation” as corporate profits are taxed as ordinary
Rate hike understandable, but growth is a concern –Courtesy BusinessLine
Editorial. Rate hike understandable, but growth is a concern: https://www.thehindubusinessline.com/opinion/editorial/time-to-taper/article66234886.ece
Regulating online gaming | The Financial Express
Clipped from: https://www.financialexpress.com/opinion/regulating-online-gaming/2901635/ Self-regulation is a great initial step, but better to house progressive policies on regulation under a nodal ministry rather than an SRO Growing
LTCG exemption claimed by one co-owner is eligible to another
Clipped from: https://taxguru.in/income-tax/ltcg-exemption-claimed-one-co-owner-eligible-another.html Rasilaben Yogeshbhai Patel Vs I.T.O (ITAT Ahmedabad) ITAT Ahmedabad held that once similar Long Term Capital Gain offered and exemption claimed by the
ITAT quashes Assessment Order passed in Violation of Time Limit u/s 153(1)
Clipped from: https://www.taxscan.in/itat-quashes-assessment-order-passed-in-violation-of-time-limit-u-s-1531/230999/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=ITAT%20quashes Top Stories By Kalyani B Nair – On December 5, 2022 10:43 am A Division Bench of the Income Tax Appellate Tribunal (ITAT), Ahmedabad quashed assessment order passed
Rethinking holding period for LTCG tax | The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/your-money-rethinking-holding-period-for-ltcg-tax/2892869/ Prescribed holding period for long-term capital gains should be in tune with the nature of the asset class If the holding period for
Will you be taxed on the ESOPs received from a previous employer? | The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/will-you-be-taxed-on-the-esops-received-from-a-previous-employer/2893423/ When ESOPs are exercised and shares are awarded after the employer-employee connection ends, the tax situation becomes murky. The discharge of taxes following
Capital Gains: The change needed in capital gains taxation – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/the-change-needed-in-capital-gains-taxation/articleshow/95780625.cms Synopsis When such a tax used to be there before 2005, it had an indexation facility. Now, all other long-term capital gains taxes
Exemption from TDS deduction: Who can apply, process – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/exemption-from-tds-deduction-who-can-apply-process/articleshow/95778908.cms Synopsis This application can be made by any person, corporate, HUF, individual, etc. An individual may also submit a self declaration in Form
