BUSINESS
ITR-3 filings grew over 600 percent in 2024 among investors under the age of 25, shows Cleartax data
The fastest increase in ITR-2 and ITR-3 filers, the categories linked to capital gains and market activity, is coming from Indians under the age of 25. While this highlights extraordinary enthusiasm, it also signals risk.
BUSINESS
Expecting an NFT, crypto, or VDA gift this Diwali? Here are the tax implications
Crypto gifts received will be taxed as ‘income from other sources’ at regular slab rates if the total value of gifts is more than Rs 50,000.
BUSINESS
Crack the crypto investing code: The systematic way to invest in crypto assets
Invest in cryptos through SIPs to stagger your investment, reducing the risk in your crypto investments. It eliminates impulsive decision-making and helps you benefit from averaging of costs
BUSINESS
Explained: All about how the LTA voucher scheme would be taxed
Those with an LTA component in their salary can save tax on taxes by spending a ‘specified amount’ on certain goods, without having to make any trips
BUSINESS
How can single mothers save money, and where should they invest?
If you are looking for a long-term investment, investing in equity funds (large-cap or blue-chip funds in particular) is a great option. For medium-term goals, investing in hybrid funds is a good idea
BUSINESS
Income tax returns 2021-22: Here are the financial transactions that will get reported to the I-T department
All capital gains, dividends and interest earned will be reported to the tax department
BUSINESS
The Code on Social Security, 2020: How it impacts wages and benefits of employees
The new code has new rules for contribution to social security and payment of employee benefits, including retirement benefits
BUSINESS
New Form 26AS: The Income Tax department’s compliance initiatives decoded
A new Form 26AS format is effective from June 1, 2020, which will now include detailed financial transactions
BUSINESS
COVID-19 tax-saving extension: Here are the key operational aspects
Banks may have to align systems to accept deposits for a previous financial year
BUSINESS
How gains from mutual funds are taxed
Investors must be aware of how their investments are taxable on redemption
BUSINESS
Submit these supporting documents to your employer to claim tax deductions
Various income-tax deductions and allowances are calculated and allowed only upon submission of proofs by an employee
BUSINESS
Boosting tax morale: How governments can make citizens willingly pay taxes
Developing countries have much to gain from boosting tax morale to fund their tax collections and thereby improving their economic status
BUSINESS
Needed: Lowering of personal income tax as proposed in the DTC
The slab rates proposed would rationalise the present ones and do away with surcharges.
BUSINESS
Viewpoint | Here's what the changes in Form 16 will mean for you
Now Form 16 will carry each and every detail and amount of exemption on allowances claimed by an employee. Therefore, this increases disclosures of salaried taxpayers
BUSINESS
Viewpoint | Prefer dealing in cash over digital mode? Keep in mind these laws to avoid trouble
The law bars taxpayers from making payment for expenses in excess of Rs 10,000 to a person in a day via cash. Expenses paid in cash in excess of this limit, cannot be deducted from the income of a business or a profession.
BUSINESS
Is it mandatory to link Aadhaar with income tax returns?
Aadhaar linkage has become important for several transactions done online, such as on the EPFO website, at the time of opening or closing bank accounts or making financial investments online
BUSINESS
Tax guide for YouTube bloggers: Here's how to determine your income tax liabilities
You will be taxed as a sole proprietor unless you register your business as a company, LLP or Partnership Company
BUSINESS
TDS on property sale: Answers to common queries on deduction and payment
The TDS amount that is deducted must be deposited with the government within a period of seven days from the end of the month in which the deduction is made.
