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 …
How TDS on Virtual Digital Assets will work from July 1 Read More »
Income Tax return filing deadline for Assessment Year 2022/23 is July 31, 2022. Apart from the relevant ITR forms, like Form 16 and Form 26AS, and Permanent Account Number (PAN) and Aadhaar, salaried taxpayers also need to provide their salary slips, or payslips, for filing returns. A salary slip – provided by the employer/company …
[ad_1] New Delhi: The income tax department on Wednesday said the 1 per cent TDS on transfer of virtual digital assets would be levied on net transaction value and the onus of deducting the tax would primarily be on the exchanges. The Central Board of Direct Taxes (CBDT) issued an FAQ on the TDS provisions …
TDS on virtual digital assets from July 1: Read CBDT guidelines on crypto tax Read More »
[ad_1] By Chirag Nangia I stay in my parent’s house. To avail benefit of HRA, I pay Rs 30,000 per month as rent to my father. Am I supposed to deduct TDS? —Vinay Tiwari As per Section 194-IB, with effect from June 1, 2017, an individual and HUF paying monthly rent above Rs 50,000 shall …
[ad_1] Senior Citizens typically prefer to park their money in risk-free financial products offering lucrative interest rates. Though there are several avenues to explore, fixed deposits (FDs) remain one of the preferred choices of senior citizens because FDs offer guaranteed returns without any financial risk. One of the concerns that senior citizens often have is …
[ad_1] With several reports stating Goods and Services (GST) council might consider imposing 28% GST on cryptocurrency based services, this has led to concerns among several players. It is understood that many players believe that this move would adversely impact the sector in India. “While an 18% tax is already levied on services by crypto …
