Articles for Tds Tax

Industry bodies ask finance ministry to ease TDS rates for Union Budget 2025: Report
1 month, 2 weeks ago

Industry bodies ask finance ministry to ease TDS rates for Union Budget 2025: Report

Hindustan Times  

Industry bodies have asked the finance ministry to simplify the rates of tax deducted at source for the Union Budget, which will be presented in February next year, Business Standard reported. Industry bodies have asked the finance ministry to simplify the rates of tax deducted at source as the Union Budget will be presented in February next year Why do …

Finance Industry Tax Report Rate Rates Tds
ITR 2024: Mandatory and Optional, Keep These Documents For Income Tax Return Filing, Check Full List
6 months, 3 weeks ago

ITR 2024: Mandatory and Optional, Keep These Documents For Income Tax Return Filing, Check Full List

News 18  

Income Tax Return filing is a critical responsibility for taxpayers and carries several significant implications. Investment Proofs: Documents for investments like Provident Fund, Public Provident Fund, Equity Linked Savings Scheme, Life Insurance premiums, Health Insurance premiums, Fixed Deposits etc., if claiming deductions. Other Potential Documents: Property Documents House Rent Receipts Informational Documents: Form 26AS : This pre-filled statement by the …

Documents Income Filing Itr Itr Filing Tds Tax
Services Provided By Irish Company To Its Indian Counterpart Not Technical Services: Delhi High Court Quashes Order Denying Nil/Lower TDS certificate
9 months, 1 week ago

Services Provided By Irish Company To Its Indian Counterpart Not Technical Services: Delhi High Court Quashes Order Denying Nil/Lower TDS certificate

Live Law  

The Delhi High Court has quashed the order denying Nil or lower TDS certificates and held that the services provided by the assessee, Irish Company, to its Indian counterpart were not technical services.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that though the power to grant a TDS certificate was merely a preliminary examination of …

India Court Services Indian Software Technical Respondent
Income Tax: Submit investment proof soon to prevent TDS from eating into your salary
11 months, 1 week ago

Income Tax: Submit investment proof soon to prevent TDS from eating into your salary

Live Mint  

If you have already made investment in some of the tax-saving instruments such as insurance, PPF and NPS, among others, it is imperative that you submit the proof of your investment at the earliest so that your employer does not deduct more tax than required. But when you didn’t submit the documents, the tax towards this income of ₹1.5 lakh …

Investment Lakh Regime Submit Your Employer Tds Tax
How is the profit on my bond sale taxed?
1 year ago

How is the profit on my bond sale taxed?

Live Mint  

In accordance with Section 56 of the Income Tax Act, income in the nature of interest is subject to taxation under the head ‘Income from other sources.’ This encompasses all types of interest, including those from bank accounts, fixed deposits and debentures, whether convertible or non-convertible. However, taxpayers possess the flexibility to declare this income for taxation either on an …

Tax Income Interest Tds
Common errors that could lead to flawed ITRs. How to avoid them?
1 year, 3 months ago

Common errors that could lead to flawed ITRs. How to avoid them?

Live Mint  

A flawed Income Tax Return is one that falls short of meeting the stipulations outlined in the Income Tax Act of 1961. Section 139 of the Income Tax Act, 1961, grants authority to the Assessing Officer to issue a notice to a taxpayer in the event their income tax return is deemed defective. When the Income Tax Department identifies an …

Tax Income Notice Department Form Pan Return
Aadhaar-PAN Link, Advance Tax, TDS Challan: These 5 Dates In June You Can't Miss
1 year, 6 months ago

Aadhaar-PAN Link, Advance Tax, TDS Challan: These 5 Dates In June You Can't Miss

News 18  

Income Tax Dates June, 2023: Having knowledge of the important dates pertaining to taxation is essential for taxpayers in order to prevent penalties, effectively handle their finances, meet filing deadlines, and remain informed about any modifications in tax laws and regulations. Due Dates For June 2023 According to the tax calendar given on the official website of the Income Tax …

Financial Respect Statement Dates Month Date Pan
Liability To Deduct TDS Under Section 201 of Income Tax Act Is A Vicarious Liability, Which Ends With Discharge Of Principal Liability Of Recipient Of Income: ITAT
2 years, 1 month ago

Liability To Deduct TDS Under Section 201 of Income Tax Act Is A Vicarious Liability, Which Ends With Discharge Of Principal Liability Of Recipient Of Income: ITAT

Live Law  

The Mumbai bench of the Income Tax Appellate Tribunal has ruled that the liability to deduct tax at source under Section 201 read with Section 195 of the Income Tax Act, 1961, is a vicarious liability of the payer of an income and thus, the liability to deduct TDS ceases to exist when the primary liability of the recipient of …

Tax Income Tax Income Tax Act Income Liability Tribunal Icici Bank
TDS on Crypto Coins: WazirX, Other Trading Platforms Implement New Rules, Know Key Changes
2 years, 5 months ago

TDS on Crypto Coins: WazirX, Other Trading Platforms Implement New Rules, Know Key Changes

News 18  

A set of new rules regarding taxations of cryptocurrencies and Virtual Digital Assets have already come into effect from July 1 under which the buyer of a VDA has to pay 1 per cent tax deducted at source of the amount paid to the seller. Companies Start to Implement TDS Rules Cryptocurrency exchanges had already started implementing the new TDS …

Tax Crypto Rules Inr Tds New Rules Btc
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
TDS imposed to track large number of crypto transactions: Sitharaman
2 years, 8 months ago

TDS imposed to track large number of crypto transactions: Sitharaman

Live Mint  

Union finance minister Nirmala Sitharaman on Friday said the government has decided to impose a 1% tax at source on the transfer of crypto or digital assets to track the transactions. There is no confusion in terms of the roadmap for regulation of crypto as discussions are under way on the subject over whether the crypto market should be regulated …

Tds Tax Totally Sitharaman
How to claim tax deduction on rent if you are sharing the flat
2 years, 10 months ago

How to claim tax deduction on rent if you are sharing the flat

Live Mint  

If you are sharing a flat, then claiming tax deduction on rent can become complicated. Without this, you will not be able to claim tax deduction on the rent you have paid. This requirement applies irrespective of whether you get a house rent allowance from your employer or not, but want to claim tax deduction on rent under section 80GG. …

Tax Tan Pan Claim Rent Deduction Tds
Government has sovereign right to tax profit made from cryptocurrency transactions, says finance minister
2 years, 10 months ago

Government has sovereign right to tax profit made from cryptocurrency transactions, says finance minister

Firstpost  

Nirmala Sitharaman said ‘banning or not banning cryptocurrency would come subsequently’ while answering questions posed about the Union Budget in Rajya Sabha New Delhi: Finance Minister Nirmala Sitharaman on Friday said the government has sovereign right to tax profit made from cryptocurrency transactions, and the decision on banning or not banning will be taken based on feedback from consultations. About …

Tax Banning Tds
FAQs on crypto tax: No set off against losses, 1 per cent TDS, what it means for you
2 years, 10 months ago

FAQs on crypto tax: No set off against losses, 1 per cent TDS, what it means for you

India Today  

The Finance Minister Nirmala Sitharaman on Tuesday announced that digital assets will be taxed in India. Ever since Nirmala Sitharaman’s Budget 2022 speech, there have been a lot of questions around crypto tax. By imposing 30 per cent tax on cryptocurrencies, the government wants to discourage crypto investments, believes Jitender Solanki, Sebi registered Financial adviser. whether it will be restricted …

Finance India Tax Pay Cryptocurrencies Cent Set
These income tax rules will change from next month
3 years, 9 months ago

These income tax rules will change from next month

Live Mint  

The financial year is ending soon. The changes applicable from the coming year are as below: 1) The income tax department has further extended pre-filled sections in ITRs from 1st April 2021. Archit Gupta, Founder and CEO of Cleartax said, "Taxpayers need to make sure that the pre-filled ITRs containing the details of salary, TDS, interest and dividend income, capital …

Tax Income Senior Citizens Gupta Itr Tds 2021
5 new income tax rules that will come into effect from 1 April
3 years, 9 months ago

5 new income tax rules that will come into effect from 1 April

Live Mint  

Union Finance Minister Nirmala Sitharaman presenting Union Budget 2021 had announced a slew of changes in the income tax rules. Let's take a look at 5 income tax changes that will come into effect from 1 April: 1) PF tax rules: Interest on annual employee contributions to provident fund over ₹2.5 lakh would be taxed from 1 April 2021. 2) …

Income Senior Citizens Filing Itr Come 1 April Returns
Tax on LRS remittance is not an additional cost. Here’s all you want to know
4 years, 3 months ago

Tax on LRS remittance is not an additional cost. Here’s all you want to know

Live Mint  

By Viram Shah From October 1, authorised dealers, typically banks and remittance companies will collect 5% tax at source once LRS remittance made by an individual crosses 7 lakh in a financial year. The Union Budget 2020 proposed a 5% TCS on remittances undertaken via the Liberalised Remittance Scheme above ₹7 lakh. ₹15,000 will be deducted as TCS 2) For …

Tax Google Lakh Tds Tcs Lrs Remittance