CBDT

How TDS on Virtual Digital Assets will work from July 1

The Union Budget, 2022 introduced taxation on Virtual Digital Assets (VDA), commonly referred to as cryptocurrencies. Tax will be levied on transfer of VDA at a flat tax of 30% (besides cess and applicable surcharge). It would be interesting to note that income from VDA will have to be computed without deduction for any expenses […]

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CBDT issues guidelines on TDS applicability on non-salary perquisites

[ad_1] The Central Board of Direct Taxes (CBDT) on Thursday issued guidelines seeking to address likely issues emanating from application of the newly introduced section 194R of the Income Tax Act for withholding 10% tax (TDS) on benefits or perquisites from non-salary sources. The new provision part of the Finance Act 2022 will become effective

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From tomorrow, PAN, Aadhaar mandatory for transactions of ₹20 lakh or more

[ad_1] The Central Board of Direct Taxes (CBDT) announced the new rule, along with the date of implementation, in a notification dated May 10. The cash withdrawal and deposit system in the country is set to undergo a major change from tomorrow, i.e. Thursday, May 26, as it will now be mandatory for citizens to

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