BUSINESS
TDS on cryptocurrency transfers from July 1: Onus on buyers, brokers, exchanges to withhold TDS
TDS of 1 per cent on transfer of cryptocurrencies is set to come into force from July 1. The responsibility of withholding this tax will be on the buyer, crypto exchanges and brokers, depending on the type of transaction, CBDT has clarified.
BUSINESS
Cost Inflation Index value increases to 348: How does it help in big tax savings?
On April 12, the government released its annual cost inflation index number. For those who wish to save on long-term capital gains tax levied on debt mutual funds, property and other assets, the index is important.
BUSINESS
June 15 is the deadline for the first advance tax instalment. Here’s how to calculate your liability
The advance tax has to be paid in four instalments over the course of the financial year. Any delay will lead to penal interest being levied.
BUSINESS
Capital Gains Bonds: Should you invest in 54EC bonds or are there better alternatives?
You can save tax on long-term capital gains arising from transfer of property by reinvesting the gains in Capital Gains Bonds, as also by reinvesting in another residential property. What makes sense?
BUSINESS
Revisiting home truths: Given current conditions, should one buy a house or stay on rent?
The perpetual debate is rekindled in the wake of better regulations and low-interest rates, but it should be a financially driven decision rather than an emotional one.
BUSINESS
Five things to consider before you opt for premature withdrawal from sovereign gold bonds
Maturity period in case of SGBs is eight years but premature withdrawal is allowed after fifth. Should you opt for it?
BUSINESS
PAN, Aadhaar a must for cash transactions above Rs 20 lakh a year
CBDT’s move aimed at curbing unaccounted financial transactions and keeping a check on cash transactions, say tax experts
BUSINESS
Property papers lost, damaged, destroyed? Get a ‘Certified or True Copy’
Property registration papers are essential documents that establish your ownership. Here’s what you should do if you lose them.
BUSINESS
Deposited more than Rs 50 lakh in savings account in a single year? Filing ITR has become compulsory
The central Board of Direct Taxes has just added four new conditions that make income-tax filing mandatory.
BUSINESS
Sold a property and faced with capital gains? Look at REC Capital Gains Tax Exemption Bonds-Series-XVI
You can invest up to Rs 50 lakh in a financial year in capital gains tax exemption bonds to minimise liabilities on long-term capital gains from transfer of capital assets.
BUSINESS
RBI Credit Policy: Cheaper interest rates on home loans to continue for now
No change in repo rate, RBI extends COVID-period relaxation that facilitates lower interest rates for home loans with high loan-to-value ratio by a year
BUSINESS
New income tax forms are out for new assessment year 2022-23. Find out which one you should use
The Central Board of Direct Taxes (CBDT) has notified the new ITR forms—ITR-1 to ITR-6—for Assessment Year 2022-23 to file return of income for Financial Year 2021-22.
BUSINESS
No additional Rs 1.5-lakh housing loan tax break for affordable homes from April 1
The limited period tax concession announced in Budget 2019 ended on March 31, 2022.
BUSINESS
How real-estate regulator RERA failed to help homebuyers stuck in bad housing projects
The failure of the real estate regulator in Haryana to give relief to homebuyers in the Green View project developed by a state-owned company is only one instance of its limitations and indifference.
BUSINESS
Under presumptive taxation scheme, entire advance tax must be paid in one instalment by March 15
Those who opt for the presumptive taxation scheme are not required to maintain books of accounts. They also have to pay advance tax in one go instead of four instalments.
BUSINESS
Have you paid your advance tax? The fourth and final instalment of advance tax for FY 22 is due today
Make sure you clear 100% of your advance tax liability for the financial year 2021-22 by today, March 15, 2022. Non-payment of advance tax attracts penal interest until you clear your dues.
BUSINESS
Old income-tax regime with deductions must go: Revenue Secretary Tarun Bajaj
The new tax regime, which comes with lower tax rates and fewer tax benefits, was introduced in 2020 but has not found many takers yet. Most taxpayers still prefer to continue with the older regime while filing their tax returns.
BUSINESS
Haryana government’s town and country planning department (DTCP) identifies five residential projects in Gurugram for structural audit
DTCP decided to conduct structural audit of five developers --Raheja Developer’s project Vedanta and Atharwa in sector 108 and 109 respectively, Brisk Lumbini in Sector 109, M3M Woodshire in Sector 107 and Mahindra Aura in sector 110-A.
BUSINESS
Buying your dream house? Be ready to pay five additional taxes and charges
GST has to be paid in the case of an under-construction property
BUSINESS
BMC waives property tax for some sections: What house owners must know
Failing to pay property tax on time could attract severe penalties
BUSINESS
Budget 2022: Home buyer should deduct TDS on stamp duty value or purchase price, whichever is higher
A home buyer is required to deposit the TDS with the income tax department. This helps the tax department to track financial transactions and eventually minimise tax evasion.
BUSINESS
Union Budget 2022: Unify the old and new income tax regime, make tax forms simpler
A lot of expectations from the Budget 2022 is there, experts believe that it is good time to do the course corrections
BUSINESS
Moneycontrol Area Watch | Golf Course Extension Road and Gurugram sectors around it are seeing traction
Close to several MNCs, IT Parks, the international airport and the National Capital, there is demand for Gurugram properties despite problems like traffic snarls and flooding of roads during the monsoon.
BUSINESS
Explained: All about belated filing of income tax returns
A belated income-tax return attracts a late-filing fee under Section 234F of the Income Tax (I-T) Act
