Income Tax Deduction Tds
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Link PAN With Aadhaar By May 31 To Avoid Double Income Tax Deduction
The income tax department today asked taxpayers to link PAN with Aadhaar by May 31 to avoid tax deduction at a higher rate.
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No Penalty For Short TDS Deduction If PAN Linked With Aadhaar By May 31
As per income tax rules, if a Permanent Account Number (PAN) is not linked with biometric Aadhaar, TDS is required to be deducted at double the applicable rate.
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Employers To Ask Employees About Preferred Tax Regime For Deducting TDS
The Income Tax Department on Wednesday said employers will have to seek details from employees about their preference for tax regime in the current fiscal and deduct TDS accordingly.
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All India Bar Association Welcomes Tax Survey Of BBC Offices
The All India Bar Association (AIBA) on Tuesday congratulated the Income Tax Department for conducting surveys of BBC's documents to check irregularities relating to international taxation and Tax Deducted at Source (TDS) transactions.
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What You Need to Know About Crypto, NFT Laws in India
The Income Tax Department has come out with detailed disclosure requirements for TDS deductions for virtual digital assets, under which date of transfer and mode of payment will have to be specified. The 2022-23 Budget has brought in clarity with regard to levy of income tax on crypto assets. From April 1, a 30 percent I-T plus cess and surcharges,...
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Crypto Mining Cost Not Allowed as Deduction Under I-T Act: Finance Ministry
Cost incurred in the mining of cryptocurrencies or any virtual digital assets (VDA) will not be allowed as deduction under the Income Tax Act, Minister of State for Finance Pankaj Chaudhary said on Monday.
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Union Budget 2022: India Introduces Cryptocurrency Tax of 30 Percent
Budget 2022 speech saw Finance Minister Nirmala Sitharaman announcing a 30 percent tax on income from the transfer of virtual digital assets. She also said that no set-off will be allowed in case of losses.
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Income Tax Filing: Tenants Need To Deduct TDS From Rent Over Rs 50,000
Tenants need to deduct TDS from the payable rent because renting a house property qualifies as a source of income and qualifies for tax liability.
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Submitting Forms 15G/15H Online In 5 Simple Steps
Form 15G/15H is meant to be submitted to the bank to prevent them from deducting tax deducted at source (TDS) when your total income is below the taxable limit
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If You Pay High House Rent, Deduct TDS From Rent Payment. Details Here
The individuals who pay rent to the tune of Rs 50,000 per month or more, you must deduct the TDS at the rate of 5% while paying rent to the landlord
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Fixed Deposits (FDs) Vs Mutual Funds: Understanding Income Tax Implications
The interest received on bank fixed deposits is added to you income and taxed accordingly.
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How To Avoid TDS (Tax Deducted At Source) On Bank Fixed Deposits
The bank is liable to deduct TDS at 10 per cent on the interest earned, as per FD rates (fixed deposit rates), in case the interest income for a year is exceeds Rs 10,000.
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Bank FDs Under Income Tax Scrutiny, Says Report. 5 Rules To Know
Interest earned on bank fixed deposits is fully taxable.
-
Link PAN With Aadhaar By May 31 To Avoid Double Income Tax Deduction
The income tax department today asked taxpayers to link PAN with Aadhaar by May 31 to avoid tax deduction at a higher rate.
-
No Penalty For Short TDS Deduction If PAN Linked With Aadhaar By May 31
As per income tax rules, if a Permanent Account Number (PAN) is not linked with biometric Aadhaar, TDS is required to be deducted at double the applicable rate.
-
Employers To Ask Employees About Preferred Tax Regime For Deducting TDS
The Income Tax Department on Wednesday said employers will have to seek details from employees about their preference for tax regime in the current fiscal and deduct TDS accordingly.
-
All India Bar Association Welcomes Tax Survey Of BBC Offices
The All India Bar Association (AIBA) on Tuesday congratulated the Income Tax Department for conducting surveys of BBC's documents to check irregularities relating to international taxation and Tax Deducted at Source (TDS) transactions.
-
What You Need to Know About Crypto, NFT Laws in India
The Income Tax Department has come out with detailed disclosure requirements for TDS deductions for virtual digital assets, under which date of transfer and mode of payment will have to be specified. The 2022-23 Budget has brought in clarity with regard to levy of income tax on crypto assets. From April 1, a 30 percent I-T plus cess and surcharges,...
-
Crypto Mining Cost Not Allowed as Deduction Under I-T Act: Finance Ministry
Cost incurred in the mining of cryptocurrencies or any virtual digital assets (VDA) will not be allowed as deduction under the Income Tax Act, Minister of State for Finance Pankaj Chaudhary said on Monday.
-
Union Budget 2022: India Introduces Cryptocurrency Tax of 30 Percent
Budget 2022 speech saw Finance Minister Nirmala Sitharaman announcing a 30 percent tax on income from the transfer of virtual digital assets. She also said that no set-off will be allowed in case of losses.
-
Income Tax Filing: Tenants Need To Deduct TDS From Rent Over Rs 50,000
Tenants need to deduct TDS from the payable rent because renting a house property qualifies as a source of income and qualifies for tax liability.
-
Submitting Forms 15G/15H Online In 5 Simple Steps
Form 15G/15H is meant to be submitted to the bank to prevent them from deducting tax deducted at source (TDS) when your total income is below the taxable limit
-
If You Pay High House Rent, Deduct TDS From Rent Payment. Details Here
The individuals who pay rent to the tune of Rs 50,000 per month or more, you must deduct the TDS at the rate of 5% while paying rent to the landlord
-
Fixed Deposits (FDs) Vs Mutual Funds: Understanding Income Tax Implications
The interest received on bank fixed deposits is added to you income and taxed accordingly.
-
How To Avoid TDS (Tax Deducted At Source) On Bank Fixed Deposits
The bank is liable to deduct TDS at 10 per cent on the interest earned, as per FD rates (fixed deposit rates), in case the interest income for a year is exceeds Rs 10,000.
-
Bank FDs Under Income Tax Scrutiny, Says Report. 5 Rules To Know
Interest earned on bank fixed deposits is fully taxable.
