tax

May 13, 2022 11:31 AM IST

PAN, Aadhaar a must for cash transactions above Rs 20 lakh a year

CBDT’s move aimed at curbing unaccounted financial transactions and keeping a check on cash transactions, say tax experts

War forces Ukraine to divert $8.3 billion to military spending, tax revenue drops: Minister

The figure, which has not been disclosed by Ukraine's government before, lays bare the economic maelstrom that Ukraine is navigating as its soldiers try to keep Russia's renewed offensive at bay in the country's east.

What to do when your PPF completes 15 years?

Public Provident Fund, arguably one of the best fixed-income investments, comes with a 15-year tenure. But there is a way to continue it without locking in your money for another 15 years

What are EPF’s taxable and non-taxable accounts?

Fuel prices: TN CM Stalin hits out at PM Modi over tax cuts, says people know the facts

Making a statement in the Tamil Nadu Assembly, Stalin said since 2014, whenever international crude rates dipped, the NDA government did not pass on the benefit to the customers but only pocketed the additional revenue earned from the differential.

Centre's taxes on fuel prices continue to be exorbitant: Tamil Nadu FM responds to comments made by PM Modi

Minister for Finance and Human Resources Management Palanivel Thiaga Rajan said the taxes on fuel prices levied by the Centre continue to be "exorbitant" and it was neither 'fair' nor 'feasible' for the State to further reduce it.

Commercial vehicle prices to go up in Delhi as govt mulls hiking road tax

The proposal for raising road tax on specific categories of vehicles has been forwarded by the transport department to the finance department, they claimed.

Nuts and bolts of how cryptos and digital assets will be taxed this year, and the challenges

Aside from the flat tax rate, the government has also imposed a 1% withholding tax. But when the buyer and seller of virtual digital assets on exchanges are unknown to one another, deducting the TDS will be a challenge

What is a non-dom? An expert answers our questions about the tax status claimed by Rishi Sunak's wife and other wealthy people

The regime can be used, or sometimes abused, by foreigners, or British citizens, to avoid paying tax altogether. While in principle they are required to pay tax in the countries where income is earned, the fact that they live (and are tax residents) in the UK makes it easier to arrange their affairs and end up paying little or no tax at all.

Jharkhand commercial taxes collection at record Rs 19,750 crore in FY 22

Secretary, Commercial Taxes, Aradhana Patnaik said: "The department had set a target of Rs 18,422 crore collection for the last fiscal; the collection was up 107 percent of the target and increased 25 percent in comparison to the previous fiscal."

Indians with hidden income in US on I-T radar: Report

According to the Central Board of Direct Taxes' internal action plan for FY23, persons named in global leaks may be searched, shown-caused, and prosecuted,

New income tax forms are out for new assessment year 2022-23. Find out which one you should use

The Central Board of Direct Taxes (CBDT) has notified the new ITR forms—ITR-1 to ITR-6—for Assessment Year 2022-23 to file return of income for Financial Year 2021-22.

Crypto exchanges brace new rules, expect small investors to move to grey market

This move will be a major hurdle for the smaller investors and is anticipated to drive the retail investors to the grey market, that is the decentralised exchanges.

Six changes in income tax rules effective April 1. Plan wisely

Key changes to watch out for in 2022-23 include tax on cryptocurrency, tax relief on Covid-19 treatment expenses, and higher benefits for state government employees investing in the National Pension System.

How to plan your income tax smartly in the new financial year

Although the income-tax slabs and rates remain the same for the new financial year, there are a number of tax-saving instruments to choose from. Just make sure they fit well in your overall financial planning.

Your money calendar for 2022-23: Keep your dates with your moneybox, investments, taxes

Aside from investing and paying your taxes on time, keep one day a month to account for your expenses and finances. And pay your credit card bills on time.

GST overhaul: What to expect, when to expect?

GST Council should make GoM reports public and decide the next course of action fast so that the country has the revenue cushion to absorb economic shocks

Top actively traded tax-free bonds that bring safety and returns for retirees

Moneycontrol presents a list of the most liquid tax-free bonds that also give high returns. These bonds can be a better investment solution for fixed income investors including retirees

Last-minute tax planning: Here is what you should do

It may sound too difficult to execute task when you have a few hours on hand. But not all is lost. You can still make some simple investments and save tax.

Have you considered these tax-saving funds?

Mutual Fund houses launch target maturity funds for FY-end indexation benefits. Should you invest?

Some years ago, many fund houses used to launch fixed maturity plans (FMPs). These days barring a few FMPs, many fund houses are starting target maturity funds (TMF).

Here's how tax clarification on set-off of cryptocurrency gains and losses affects investors

By not allowing the set-off of losses in one crypto coin against another, the Government has treated each virtual digital asset as a separate asset class

Under presumptive taxation scheme, entire advance tax must be paid in one instalment by March 15

Those who opt for the presumptive taxation scheme are not required to maintain books of accounts. They also have to pay advance tax in one go instead of four instalments.

Have you paid your advance tax? The fourth and final instalment of advance tax for FY 22 is due today

Make sure you clear 100% of your advance tax liability for the financial year 2021-22 by today, March 15, 2022. Non-payment of advance tax attracts penal interest until you clear your dues.

Explained: How will crypto taxation work in India?

Any loss arising from crypto trading cannot be offset against any other kind of income