Page 5 - Latest Updates on TDS
TDS on benefits: Section 194R of the I-T Act has confused people
Sec 194R of the IT Act, 1961, mandates a person giving any benefit to another person to deduct 10% of the value of the benefit at source. It has created confusion as a similar section is already there
 "TDS on benefits: Section 194R of the I-T Act has confused people")
Experts raise several red flags around section 194R of the Income Tax Act
The section introduced in the Finance Act, 2022 to reduce evasion and widen the tax base has some conflicting provisions apart from other challenges
 "Experts raise several red flags around section 194R of the Income Tax Act")
CBDT asks the winners of online games to pay taxes, file updated ITR
The winners of online games will have to pay taxes at the rate of 30 per cent without any rebates or 25-30 per cent on taxes and the interest due
 "CBDT asks the winners of online games to pay taxes, file updated ITR")
India needs to have progressive regulation for crypto assets: Experts
Blockchain technology is needed and can be used in governance, they say
 "India needs to have progressive regulation for crypto assets: Experts")
Group representing Indian crypto exchanges to be dismantled: Report
The Internet and Mobile Association of India (IAMAI) is dismantling BACC after disagreement and allegations that crypto exchanges were not following an internal code of conduct
 "Group representing Indian crypto exchanges to be dismantled: Report")
It's prudent to file nil ITR even if your income is below Rs 2.5 lakh
Filing income tax return will prove handy while applying for a loan, insurance cover, or a visa
 "It's prudent to file nil ITR even if your income is below Rs 2.5 lakh")
Delhi HC asks ED to consider Vivo's representation on freeing bank accs
ED's money-laundering probe into Vivo revealed the company, to avoid paying taxes in India, remitted about Rs 62,476 crore of its turnover to China between 2017 and 2021
 "Delhi HC asks ED to consider Vivo's representation on freeing bank accs")
What should you keep in mind while filing your income-tax return?
The last date for filing income tax of AY 2022 is drawing close. We explain a few things which you should keep in mind before filing the tax return.
Trading dries up on Indian crypto exchanges as new transaction tax kicks in
Warnings from Indian crypto exchanges that a controversial new transaction tax would erode trading are coming true, with volumes evaporating since the levy took effect.
Wait and watch: Industry players on 1% TDS on crypto investments in India
The 1 per cent TDS will be levied on payments towards virtual digital assets or cryptocurrencies beyond Rs 10,000 in a year, according to the Section 194S in the I-T Act (as per the Finance Act, 2022)
 "Wait and watch: Industry players on 1% TDS on crypto investments in India")
Income tax rules: Here are the changes in rules from July 1, 2022
While the late fees for linking PAN-Aadhaar will shoot up, doctors and influencers will have to pay 10% TDS on the benefits they receive from sales promotions
 "Income tax rules: Here are the changes in rules from July 1, 2022")
HC quashes order on taxing Flipkart payment to Walmart for deputed staff
Court says assessing officer's stand on employer-employee relationship based on a wrong premise
 "HC quashes order on taxing Flipkart payment to Walmart for deputed staff")
Missed declaring rental to employer? Claim HRA exemption while filing ITR
Keep rent receipts that serve as proof handy should taxmen come calling
 "Missed declaring rental to employer? Claim HRA exemption while filing ITR")
After govt clarity on TDS, will it be smooth sailing for crypto in India?
Recently the govt had announced to impose 1% TDS crypto assets. As the TDS regime is slated to come into effect from July 1, will it be smooth sailing for domestic crypto exchanges and traders?
 "After govt clarity on TDS, will it be smooth sailing for crypto in India?")
No more freebies! Influencers, music bands, doctors liable to 10% TDS
Ensure value of goods doesn't exceed Rs 20,000 to avoid TDS
ITR 2022-23: How to fill your income tax return for this assessment year?
Here is a quick step-by-step guide on how to file your income tax return (ITR) for the assessment year 2022-23
 "ITR 2022-23: How to fill your income tax return for this assessment year?")
Top Headlines: TDS levy on cryptos, GST rate of 200 items, and more
From TDS levy on cryptocurrencies to GST rate of over 200 items staying the same, here are the top headlines on Thursday morning
 "Top Headlines: TDS levy on cryptos, GST rate of 200 items, and more")
Transactions to paper trail: CBDT clears the air on TDS levy on cryptos
From July 1, TDS of 1 per cent will be levied on payments towards virtual digital assets or cryptocurrencies beyond Rs 10,000 in a year
 "Transactions to paper trail: CBDT clears the air on TDS levy on cryptos")
CBDT issues guidelines for new tax rule on gifts, benefits to influencers
Benefits like free medical samples received by doctors and gifts retained by social media influencers will attract TDS
 "CBDT issues guidelines for new tax rule on gifts, benefits to influencers")
Compare Form 16 with 26AS before filing income-tax return: Experts
Report any discrepancy to your employer and get it amended
