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Articles for Itr, search results for cryptocurrency

ITR Filing: Income tax department shortens time limit for condonation of delay – What it means for taxpayers
1 month ago

ITR Filing: Income tax department shortens time limit for condonation of delay – What it means for taxpayers

Live Mint  

The Income Tax Department has recently made important changes in its refund claim procedures which have led to the reduction of the period when taxpayers could claim old income tax refunds. The onus has shifted now to the taxpayers to keep all the required documents amidst the transactions in future and submit them before the tax authorities at the prescribed …

Income Claims Delay Five Years Submit Filing Itr
Cashing in on the bitcoin rally? Don’t forget your advance tax and reporting obligations
1 month, 1 week ago

Cashing in on the bitcoin rally? Don’t forget your advance tax and reporting obligations

Live Mint  

Bitcoin is in the news again, and its meteoric rise has set Indian traders abuzz, pushing the cryptocurrency to a record-breaking $89,828—up a remarkable 112% this year. With a 1% TDS deducted on sales of these virtual digital assets, transactions appear on Form 26AS, making unreported crypto income a potential tax pitfall. Gains from virtual digital assets must be included …

Indian Income Tax Pay Reported Mint Itr Gains
ITR filing: Income tax rules for crypto, virtual digital assets you should know
2 years, 8 months ago

ITR filing: Income tax rules for crypto, virtual digital assets you should know

Live Mint  

The government is working on an FAQ on taxation of cryptocurrencies, which will give a nuanced clarification on the applicability of income tax and GST on virtual digital assets, an official said. The DEA, Revenue Department and the Reserve Bank are working to ensure that the taxation aspect is clear both for field tax offices as well as those who …

Crypto Income Tax Dea Gst Digital Assets Virtual Faq
New Income Tax Rules from April 1: Cryptocurrency Tax, PF, Revised ITR Form, Key Changes
2 years, 8 months ago

New Income Tax Rules from April 1: Cryptocurrency Tax, PF, Revised ITR Form, Key Changes

News 18  

Even as the new financial year is starting from Friday, so are the new income tax and other rules. Updated ITR on Payment of Additional Tax In the Budget Speech, Sitharaman also announced to allow taxpayers to correct any discrepancy or omissions in their income tax returns within two years of filing these, from April 1. No ITR Needed for …

Financial Tax Budget Crypto Income Rules Senior Citizens
New income tax rules: Know major changes in ITR from April 1
2 years, 8 months ago

New income tax rules: Know major changes in ITR from April 1

India Today  

The Central Board of Direct Taxes will be introducing a slew of major changes to the income tax from April 1 under the Income-tax Rule 2021. While the crypto taxation to be introduced from April 1 has been the prime point of concern among many, the government has also incorporated some changes in filing of updated returns, new tax rules …

Income Covid Return Epf Major Changes Crypto Tax Received Digital
Crypto Tax in India: Date, income tax, ITR form, TDS, deduction | Key points
2 years, 9 months ago

Crypto Tax in India: Date, income tax, ITR form, TDS, deduction | Key points

India Today  

As the ongoing financial year 2021-22 draws to a close, there has been a lot of chatter pertaining to crypto-tax in India. The central government in Union Budget 2022 proposed the introduction of a specific tax regime for virtual digital assets. INCOME TAX ON DIGITAL ASSETS FM Sitharama proposed that "any income from the transfer of any virtual digital asset …

Tax Crypto Assets Income Tax Transfer Digital Income
ITR column for Cryptocurrency Income: All you need to know
2 years, 10 months ago

ITR column for Cryptocurrency Income: All you need to know

India Today  

Income tax return forms from next year will feature a separate column for making disclosures on gains made from cryptocurrencies and paying taxes. GAINS FROM CRYPTOCURRENCIES Revenue Secretary Tarun Bajaj said gains from cryptocurrencies were always taxable and what the Budget proposed is not a new tax but providing certainty over the issue, according to a PTI report. CRYPTO COLUMN …

Income Tax Cryptocurrencies Cent Itr Next Year Tds Itr Form