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  • ITR Filing Online | Dos and don’ts for filing income tax returns Jul 19, 2022 11:51 AM IST

    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 Jul 05, 2022 08:11 AM IST

    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 Jul 01, 2022 12:18 PM IST

    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 Jul 01, 2022 11:28 AM IST

    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 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.

  • CBDT notifies TDS disclosure requirements for cryptos, virtual digital assets Jun 22, 2022 07:59 PM IST

    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 Jun 08, 2022 06:17 PM IST

    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 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”

  • Non-payment of TDS not a ground for initiation of insolvency process: NCLAT May 23, 2022 03:32 PM IST

    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 May 18, 2022 02:55 PM IST

    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 May 10, 2022 05:45 PM IST

    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? Apr 28, 2022 03:39 PM IST

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

  • FAQ on taxation of crypto, virtual digital assets in works Apr 10, 2022 01:55 PM IST

    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 Apr 01, 2022 01:50 PM IST

    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 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

  • Crypto industry to move Centre, seeking revision of 30% levy on transactions Feb 08, 2022 04:03 PM IST

    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 Feb 01, 2022 07:58 PM IST

    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 Sep 17, 2021 11:21 PM IST

    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 Jul 04, 2021 02:36 PM IST

    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 Jul 03, 2021 05:49 PM IST

    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.

  • Didn’t file income tax returns for previous years? Face double TDS from July 1 Jun 23, 2021 10:05 AM IST

    Didn’t file income tax returns for previous years? Face double TDS from July 1

    If you have not filed income tax returns for financial years 2018-19 and 2019-20, you will have to face a sharper TDS cut

  • Budget2021: Didn’t file income tax returns? Be prepared for higher TDS Feb 01, 2021 09:10 PM IST

    Budget2021: Didn’t file income tax returns? Be prepared for higher TDS

    Budget 2021-22 a proposes steeper tax rate for those who have PAN, but don’t file income tax returns

  • Facing TDS even on tiny dividend payouts? Here’s what you must do Dec 23, 2020 09:36 AM IST

    Facing TDS even on tiny dividend payouts? Here’s what you must do

    Claiming TDS refund is a tedious process if you haven’t yet got your TDS certificate. COVID-19 has led to delays in companies filing information in Form 26AS

  • Receiving dividends from MFs? Submit these forms to avoid TDS if you have no tax liability Nov 19, 2020 09:34 AM IST

    Receiving dividends from MFs? Submit these forms to avoid TDS if you have no tax liability

    Form 15G and 15H are used to avoid tax deduction at source on mutual fund dividends if your tax liability is expected to be nil

  • Lower cash threshold: Here's how your bank would report withdrawal data Sep 04, 2020 09:56 AM IST

    Lower cash threshold: Here's how your bank would report withdrawal data

    Withdrawing more than Rs 20 lakh cash from bank would be impossible without a tax return

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