Page 5 - 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

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

India needs to have progressive regulation for crypto assets: Experts

Blockchain technology is needed and can be used in governance, they say

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

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

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

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)

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

Missed declaring rental to employer? Claim HRA exemption while filing ITR

Keep rent receipts that serve as proof handy should taxmen come calling

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?

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

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

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

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

Compare Form 16 with 26AS before filing income-tax return: Experts

Report any discrepancy between the two documents to the employer immediately and get it rectified

Govt clarifies rate of TDS on virtual digital assets continues to be 1%

The 1% TDS will be applicable from July 1, 2022

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

The National Company Law Appellate Tribunal (NCLAT) has held that dues on account of non-payment of TDS can not be a ground to initiate insolvency proceedings against any company. Setting aside an order of the Kolkata bench of NCLT, the appellate tribunal said "the process of Insolvency & Bankruptcy Code (IBC) cannot be utilised" for recovery of TDS dues by an operational creditor of the company. "The consequences of non-payment of TDS are provided under Income Tax Act, 1961, and income tax authorities have ample powers to take appropriate action," said the NCLAT bench headed by Chairperson Justice Ashok Bhushan. The bench said the National Company Law Tribunal (NCLT) has committed a "serious error" while directing to initiate insolvency proceedings over a section 9 application filed by an operational creditor under the IBC after admitting that non-payment of the TDS (Tax Deducted at Source) amounts as default "Regarding non-payment of TDS, we are of the view that it is not for us