The announcement by Hon’ble Union Finance Minister Nirmala Sitharaman that tax advantages would be extended till is a big boost for startup entrepreneurs. Last year, the Indian government extended the deadline for entrepreneurs to obtain tax exemptions until March 31, 2022. In light of the COVID-19 outbreak, the government has declared Tax Incentives extended for … Read more
Nirmala Sitharaman, India’s Finance Minister, ensures that the government will implement a Digital Rupee in the fiscal year 2022-23 and levy a tax of 30% on virtual assets during her presentation of the Union Budget 2022. Thus, crypto trade lovers in India now have to face Tax on Crypto Transactions. In this article, let us … Read more
Form 16 and Form 16A are both required for Income tax return filing. These forms are furnished by the employers to the employees specifying the tax deduction during the assessment year. However, there is a significant difference between Form 16 and Form 16A. In this article, you will understand the difference between Form 16 and … Read more
An important news for taxpayers: start ITR Filing on time and in the correct manner otherwise face grave situations. The Income Tax Department is getting stringent on tax dodgers as well as tax fraudsters. Recently, the Income Tax Department conducted raids on Contractors in Bengaluru. In this article, we will read the highlights of Income … Read more
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) declared that the Western Union is to do ITR Filing for profits earned in India. The business of the assessee includes the transfer of money across international borders: the assessee, a US company, deals in the business of rendering money transfer services In this article, … Read more
The Income Tax Appellate Tribunal (ITAT) Chennai bench recently ruled that a single trade of sale and purchase of equities cannot be classified as a commercial activity to levied ITR Filing on a citizen. In this article, we shall discuss the latest notification relating to the single transaction of Buying and Selling of Shares can’t … Read more
Taxpayers flag a range of ongoing anomalies like belated pre-corroboration by the banks and issues in register digital sign official documents. The article discusses Infosys’ deadline ends; however, bugs are still in the income tax filing portal in detail. Infosys’s deadline ends, but several issues were found on the portal The time limit outlined by … Read more
Important news for Investors as the GST & Income Tax Department may target Crypto Transactions soon. If crypto transactions are taxed, investors might need to mention them in their ITR Filing. As per the recent reports, the Finance Ministry is considering taxing crypto income through trading and crypto exchanges. Sources argue that even if it … Read more
The CBDT has launched a new Income Tax e-Filing 2.0 portal. The new portal was launched on 7th June 2021. The government’s intention behind launching a new Income Tax Portal was to facilitate taxpayers. Therefore, the government has launched several new features in the portal. In this article, we will learn all about the Income … Read more
In Punjab, the Income Tax Department identified tax fraud by three commission agents who were also involved in the field of farmers besides having a business of cold storage facilities and rice mills, Income tax department raid claimed “suppression” of company revenues and “inflation” of expenditures. In this article, we will read about the latest … Read more