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  • Poof! Did you know that your income-tax benefits can be reversed too? Sep 09, 2022 09:05 AM IST

    Poof! Did you know that your income-tax benefits can be reversed too?

    While drawing up a chart of tax-saving investments for the year, don’t forget about the conditions that could nullify the tax benefit under Section 80C. Exiting investments too early could lead to reversal of taxation benefits.

  • How sovereign gold bonds are taxed: A complete guide Sep 07, 2022 09:28 AM IST

    How sovereign gold bonds are taxed: A complete guide

    Although Sovereign Gold Bonds are tax-free if you hold them till maturity, they are taxable if you sell them before they mature. This, even if you sell after lock-in.

  • People who sought a new low-tax regime in trouble over belated returns Aug 30, 2022 08:28 AM IST

    People who sought a new low-tax regime in trouble over belated returns

    The math turns difficult for late tax-return filers who opted for a new regime that lowered tax in return for them not claiming deductions; these are taxpayers who made no investments to claim tax breaks during the year while having lower taxes deducted from their salaries by employers.

  • Meet the new fintech that helps calculate your crypto tax liability Aug 26, 2022 01:21 PM IST

    Meet the new fintech that helps calculate your crypto tax liability

    The new cryptocurrency tax of 30 percent has thrown investors into a tizzy over how to calculate their tax liability. Calculating taxes on past transactions is a bigger problem if you have been trading frequently. And income-tax notices to many investors haven’t made things easy

  • Failed refunds, income tax queries… Things to check after filing returns Aug 23, 2022 09:07 AM IST

    Failed refunds, income tax queries… Things to check after filing returns

    Your tax refund due might be delayed this year if you have failed to link your Aadhaar with your PAN in your bank account or haven't complete KYC formalities.

  • Last minute tax-filing: 5 types of incomes you must not forget Jul 30, 2022 02:41 PM IST

    Last minute tax-filing: 5 types of incomes you must not forget

    Irrespective of the amount and whether it is taxable or exempt, make sure you disclose in your tax returns any income, windfall gains, capital gains, interest income, etc., you may have had during the financial year

  • Trust-based taxation system resulting in improved collections: FM Nirmala Sitharaman Jul 25, 2022 07:12 AM IST

    Trust-based taxation system resulting in improved collections: FM Nirmala Sitharaman

    In her message on the 163rd Income Tax Day, the finance minister complimented the department for achieving the highest-ever revenue collection of over Rs 14 lakh crore in the last fiscal and expressed hope that the momentum would continue in the current fiscal too.

  • Trust-based taxation system resulting in improved collections: FM Jul 24, 2022 08:18 PM IST

    Trust-based taxation system resulting in improved collections: FM

    In her message on the 163rd Income Tax Day, the finance minister complimented the department for achieving the highest-ever revenue collection of over Rs 14 lakh crore in the last fiscal and expressed hope that the momentum would continue in the current fiscal too.

  • Filing Income Tax Return for AY2022-23: How to correct errors in Form 26AS Jul 14, 2022 01:19 PM IST

    Filing Income Tax Return for AY2022-23: How to correct errors in Form 26AS

    Filing the ITR within the due date will help a taxpayer save late fees of up to Rs 5,000 as ITR filing beyond July 31, 2002 will attract a penalty

  • Saddled with taxation, income tax notices add to confusion for crypto investors Jul 11, 2022 09:40 AM IST

    Saddled with taxation, income tax notices add to confusion for crypto investors

    Unaware of total transaction amount, crypto investors face information powered notices

  • Interview | GST Council, not Centre, must take call on compensation, says Tamil Nadu’s PTR Jun 30, 2022 09:42 AM IST

    Interview | GST Council, not Centre, must take call on compensation, says Tamil Nadu’s PTR

    The five-year compensation period for states under the Goods and Services Tax regime ends on June 30. According to Tamil Nadu Finance Minister Palanivel Thiaga Rajan, if the GST Council is truly a federal body, it must decide whether states should be compensated for any revenue shortfall beyond this month.

  • TDS on cryptocurrency transfers from July 1: Onus on buyers, brokers, exchanges to withhold TDS Jun 27, 2022 09:52 AM IST

    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.

  • Sovereign Gold Bonds saw maximum traction in COVID-hit years; next SGBs tranche opens today Jun 20, 2022 09:30 AM IST

    Sovereign Gold Bonds saw maximum traction in COVID-hit years; next SGBs tranche opens today

    The next tranche of SGBs is scheduled to open for subscription for five days beginning today. The issue price has been fixed at Rs 5,091 per gram of gold. It will be the first issuance of the current fiscal.

  • Missed filing your income tax returns? Be prepared to pay higher TDS May 31, 2022 09:43 AM IST

    Missed filing your income tax returns? Be prepared to pay higher TDS

    Changes introduced in the Income Tax Act require the deductor to withhold tax deducted at source (TDS) at a higher rates on payments made to certain “specified persons”

  • Inflationary concerns may delay GST rate rationalisation: Report May 25, 2022 07:37 PM IST

    Inflationary concerns may delay GST rate rationalisation: Report

    Elevated inflation is likely to delay, a GST tax rate rationalization, sources said.

  • The promise and the peril of the Metaverse May 05, 2022 05:56 PM IST

    The promise and the peril of the Metaverse

    India’s participation and contribution in the Metaverse is currently limited. However, it is extremely important for Indian legislators and decision makers to ensure that a legal framework is in place to ensure the safety of Indian users on the Metaverse 

  • Deposited more than Rs 50 lakh in savings account in a single year? Filing ITR has become compulsory Apr 22, 2022 05:40 PM IST

    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.

  • LNG can play a big role in unleashing India’s full energy potential Apr 07, 2022 03:12 PM IST

    LNG can play a big role in unleashing India’s full energy potential

    One way to boost LNG use is to borrow a page from the EV playbook and incentivise a conducive environment for the increased use of cleaner equipment powered by LNG

  • File income tax return by due date or pay double TDS Mar 02, 2022 10:52 AM IST

    File income tax return by due date or pay double TDS

    Shortening the window of tax filing status for higher TDS deduction poses issues galore

  • A simplified capital gains tax regime is fine, but don’t kill the golden goose Feb 18, 2022 10:55 AM IST

    A simplified capital gains tax regime is fine, but don’t kill the golden goose

    A capital gains tax overhaul, with fewer tax rates and holding period requirements, is sensible, but it should not pinch investors so much that it hurts the nascent revival in equity market participation

  • Here are ESOP taxation reforms Budget 2022 missed Feb 17, 2022 03:22 PM IST

    Here are ESOP taxation reforms Budget 2022 missed

    The current taxation laws have made ESOPs employee unfriendly. Many expected that Budget 2022 would remove these barriers; that has unfortunately not been the case 

  • Budget 2022 has made foreign dividend costlier Feb 16, 2022 04:50 PM IST

    Budget 2022 has made foreign dividend costlier

    Budget 2022 has brought cheer to many fronts. Unfortunately, the issue of tax concession on foreign source dividend is not one of them

  • Budget 2022 | For real estate sector, no new taxes is good news Feb 03, 2022 01:22 PM IST

    Budget 2022 | For real estate sector, no new taxes is good news

    In order to sustain growth in the real estate sector it was expected that Budget 2022 would have significant tax reliefs, and incentives. While there were welcome initiatives from a policy perspective, there was not much on the tax side 

  • Budget 2022 | Government rolls out tax regime for all virtual assets, experts hail move 'legalising' crypto Feb 01, 2022 01:14 PM IST

    Budget 2022 | Government rolls out tax regime for all virtual assets, experts hail move 'legalising' crypto

    Budget 2022 | Over the past year, there has been a boom in individuals investing in cryptocurrencies, with exchanges crossing millions of users

  • Budget session not likely to see crypto bill being presented Jan 18, 2022 09:58 AM IST

    Budget session not likely to see crypto bill being presented

    The comes as the government waits for observations and technical insights from the upcoming pilot of the central bank's digital currency project expected to launch within the next few months.

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