February 03, 2023 06:15 PM IST

FM Sitharaman: Regulating crypto assets on agenda for upcoming G20 meet

Crypto and virtual digital asset (VDAs) industry players were left unhappy when no announcement for the sector was made during Sitharaman’s Union Budget speech on February 1.

Budget 2023: The devil is in the detail

The fine print reveals the tax implications of some of the budget proposals

Budget 2023: Online gaming sector gets a boost with better clarity on taxation

Budget 2023: Startup founders hail the government's move to rationalize direct taxes in the online gaming sector, while some await more clarity

Government gets Rs 60.46 crore tax from TDS on virtual digital assets

The minister further said currently, crypto assets are unregulated in India and the government does not register foreign crypto exchanges.

SpiceJet deposits TDS of employees for 2021-22 fiscal

As per the communication, a significant portion of provident fund contributions of all employees is also being credited.

ITR Filing Online | Dos and don’ts for filing income tax returns

As the due date for filing Income Tax Return (ITR) approaches, one could end up making numerous tax filing mistakes. One must be careful while filing returns as any oversight can lead to a penalty or tax notice from the Income Tax Department. Here are some common mistakes to avoid while filing income tax returns by July 31, 2022

Trading dries up on India crypto exchanges as new tax kicks in

The government introduced a tax regime for digital assets in February, consisting of the TDS and a flat 30 per cent tax on income from crypto investments

TDS on crypto transactions comes into effect, exchanges brace for implementation hitches

Crypto exchanges were strapped for time in meeting the responsibility placed on them of managing the logistics of TDS.

TDS on Crypto Kicks In: Check out this FAQ answered by a tax expert

TDS on cryptocurrency will be effective from today. The new tax rules of crypto created much confusion. Moneycontrol simplifies crypto taxation with these FAQs

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.

CBDT notifies TDS disclosure requirements for cryptos, virtual digital assets

The income tax administration has published comprehensive disclosure guidelines for TDS deductions for virtual digital assets, which stipulate that the date of transfer and the method of payment must be indicated.

Income Tax website rectifies error, Government sticks to 1% TDS on virtual assets

The website earlier mentioned that the TDS rate for virtual digital assets has been dropped to 0.1% from 1% as announced earlier in the budget, according to the website Income Tax Department.

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”

Non-payment of TDS not a ground for initiation of insolvency process: NCLAT

New Delhi, May 23 The National Company Law Appellate Tribunal (NCLAT) has held that dues on account of non-payment of TDS can not be a ground to ini..

Finance Ministry to clarify doubts on applicability of TDS on perks received in business, profession

Joint Secretary in the finance ministry Kamlesh C Varshney said that such benefits and perquisites are income and were always taxable whether received in cash or kind.

Crypto industry wants govt to lower TDS on transactions

CoinDCX CEO and Co-Founder Sumit Gupta said 30 per cent tax on income from cryptocurrencies is on the higher side and should be reduced.

What are EPF’s taxable and non-taxable accounts?

FAQ on taxation of crypto, virtual digital assets in works

The set of Frequently Asked Questions (FAQ), which is being drafted by the Department of Economic Affairs (DEA), RBI and Revenue Department, would also be vetted by the law ministry, the official added.

Crypto exchanges brace for new tax rules, expect small investors to move to grey market

This move will be a major hurdle for the smaller investors and is anticipated to drive the retail investors to the grey market, that is the decentralised exchanges.

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

Crypto industry to move Centre, seeking revision of 30% levy on transactions

In addition to specifying a 30 percent tax rate, the Budget also mandated an additional 1 percent TDS to be levied on crypto transactions that exceed a certain limit, with the intention of establishing a record trail

Union Budget 2022 | Six money changes that finance minister did not spell out

Tax deduction for donation can be rejected; higher TDS levied if you don’t file tax returns

No TDS on bank deposit interest for recipient under scheduled tribe category: Finance Ministry

According to the ministry, the relaxation applies only if the payer satisfies itself that the receiver is a member of scheduled tribe residing in any specified area.

Businesses need not deduct TDS on share/commodity purchases via exchanges: CBDT

The I-T department has introduced a provision relating to Tax Deducted at Source (TDS) from July 1, 2021, which would be applicable to businesses with turnover of over Rs 10 crore.

All you need to know about TDS and the new deduction rules

If you have not filed your income tax returns for the last two years, and the total on your tax deductions exceeds Rs 50,000 or more in each of the preceding two years, you will be subject to a higher TDS.