Clipped from: https://www.financialexpress.com/money/budget-could-consider-levying-tds-tcs-on-crypto-trading-make-it-reportable-in-sft/2407789/ Nangia Andersen LLP Tax Leader Aravind Srivatsan said currently, India has the highest number of crypto owners globally, at 10.07 crore and as
Category: Income Tax
Compliance conundrum – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/compliance-conundrum/article64899272.ece The GST invoice matching mechanism remains a work in progress after four and a half years At the core of the input tax
Search for tax evasion | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/search-for-tax-evasion-122011601077_1.html India needs to expand its tax base Government finances this year have benefitted from a higher than expected revenue collection. While the third wave of
Torture under ‘transparent taxation’ | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/torture-under-transparent-taxation-122011601089_1.html Everyone had believed that faceless assessments would end corruption In August 2020, the prime minister announced three structural tax reforms under “transparent taxation”
Govt must consider extension of expiry dates under provisions | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/govt-must-consider-extension-of-expiry-dates-under-provisions-122011601099_1.html During the first and second waves of the pandemic, the government extended many deadlines for filing various applications and even the expiry dates
Annual Information System and SFT transactions Shown on Tax Payers individuals portal-TAXGURU.IN
Clipped from: https://taxguru.in/income-tax/annual-information-system-sft-transactions-shown-tax-payers-individuals-portal.html?utm_source=feedburner&utm_medium=email Annual Information System is Government New Experience introduction replacing in future Form 26 AS. Form 26 AS is Xray of Tax payers and
How your ITR may be invalid – Didn’t file your ITR? Here’s what you can expect next | The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/didnt-file-your-itr-heres-what-you-can-expect-next/how-your-itr-may-be-invalid/slideshow/88900388.cms 1/6 Consequences of not filing ITR Whereas missing the ITR filing deadline can fetch you a penalty, not verifying it after filing can
Major income tax provisions applicable from current financial year for individual taxpayers – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/major-income-tax-provisions-applicable-from-current-financial-year-for-individual-taxpayers/2406395/ There are certain income tax provisions which have become applicable for the transactions carried out from the current financial year, which taxpayers should
Boom time for companies: What record profits may mean for govt’s revenue | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/boom-time-for-companies-what-record-profits-may-mean-for-govt-s-revenue-122011401094_1.html If much higher profits this year do not propel corporation tax revenue to a level higher than the FY19 peak, something must be
Record number of searches in FY22 as tax offences get money laundering tint | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/record-number-of-searches-in-fy22-as-tax-offences-get-money-laundering-tint-122011201498_1.html With three months still to go for the year to end, total ‘undisclosed income’ is about Rs 32,000 cr, far eclipsing the FY19
6 incomes that your Annual Information Statement shows the tax department – AIS: Consolidated tax statement | The Economic Times
lipped from: https://economictimes.indiatimes.com/wealth/tax/6-incomes-that-your-annual-information-statement-shows-the-tax-department/ais-consolidated-tax-statement/slideshow/88756876.cms 3/7 Rental income This section includes rent received from various sources, including: If you have given your PAN to your tenant and your
Record number of searches in FY22 as tax offences get money laundering tint | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/record-number-of-searches-in-fy22-as-tax-offences-get-money-laundering-tint-122011201498_1.html With three months still to go for the year to end, total ‘undisclosed income’ is about Rs 32,000 cr, far eclipsing the FY19
Missed December 31 deadline? You can file belated return by March 31 | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/missed-december-31-deadline-you-can-file-belated-return-by-march-31-122011200581_1.html However, you may have to pay a penalty and won’t be able to carry forward most types of losses Taxpayers who have missed
I-T detects Rs 800-cr hidden cash transactions after raids on Andhra, Telangana realty groups – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/india/i-t-detects-rs-800-cr-hidden-cash-transactions-after-raids-on-andhra-telangana-realty-groups/articleshow/88814439.cmsSynopsis Incriminating documents like handwritten books, agreements and digital data have been seized from a specialised software application as well as from other electronic
Physical or digital: Choose the ITR verification method you find convenient | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/physical-or-digital-choose-the-itr-verification-method-you-find-convenient-122011000975_1.html Your tax return will become invalid unless it is verified within 120 days Even if you have met the December 31 deadline for
Cash credit account cannot be provisionally attached- HC issues contempt notice to Principal Commissioner
Clipped from: https://taxguru.in/goods-and-service-tax/cash-credit-account-provisionally-attached-hc-issues-contempt-notice-principal-commissioner.html?utm_source=feedburner&utm_medium=email Manish Scrap Traders Vs Principal Commissioner (Gujarat High Court) Way back in the year 2016, in the case of Kaneria Granito Ltd. vs. Assistant
Possible delay in filing of tax audit reports: ICAI bats for penalty waiver till March 31 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/possible-delay-in-filing-of-tax-audit-reports-icai-bats-for-penalty-waiver-till-march-31/article38207130.ece In a memorandum to the CBDT Chairperson JB Mohapatra, ICAI sought waiver of penalty and other consequences for any delay in filing of
Tax Query: TDS on rent receivable – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-tds-on-rent-receivable/article38191622.ece I had rented out my shop in 2008. The tenant was deducting TDS from my rent and accordingly I was showing this in
Legal notice to Income tax dept for not extending ITR filing deadline – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/legal-notice-to-income-tax-dept-for-not-extending-itr-filing-deadline/articleshow/88728559.cmsSynopsis AOTAA has asked for the ITR filing deadline to be extended as well as the late filing fee collected to be returned to
Missed the income tax return filing deadline? Here’s what you can do | Missed ITR filing deadline
Clipped from: https://economictimes.indiatimes.com/wealth/tax/missed-the-income-tax-return-filing-deadline-heres-what-you-can-do/articleshow/65631847.cms If you missed the deadline (i.e., December 31, 2021) to file your income tax return (ITR) for FY 2020-21, don’t worry, you can still file
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