Filing of Updated Income Tax Return Finally, provision of filing an updated income tax return has been introduced in Income Tax with effect from 01.04.2022. An assessee, whether he has filed or not, an income tax return (whether it be the original return, the belated...
Payroll tax is defined as the tax that is withheld, charged, or levied on the employer’s payroll. This includes wages, gross salaries, perks, and any other form of remuneration paid to employees. This tax is levied regardless of the employee’s domicile, family status,...
Cryptocurrency and Income TaxClarification on the taxation of cryptocurrency in India was highly awaited for the crypto holders. With the introduction of Budget 2022 the government has announced taxation norms on the same. Key pointers regarding income tax...
Property purchases using companies have become increasingly popular in recent years. If you are a business owner, contractor, or independent professional who operates through a company, you may have contemplated purchasing property through your company. Property...
If you have not linked your Permanent Account Number or PAN with Aadhaar card, be ready to pay higher Tax Deducted at Source (TDS) from next month. The last date for linking your Aadhaar number and PAN has been extended to March 31. Failing to link these two documents...
Any person aggrieved with the order passed by an adjudicating authority can file an appeal in GST before the First Appellate Authority. Who is Adjudicating Authority?Adjudicating Authority is the authority which passes an order or decision against which we appeal. Who...
Cryptocurrency is a form of virtual digital asset which is designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of assets. It has become one of the fastest upcoming modes of investment. Crypto refers to the...
In the last two years, startups in our country faced unprecedented challenges due to the ongoing pandemic. Funds dried up for most, many entrepreneurs reeled under the multiple taxes, and quite a few shut down operations. Now, all eyes are on Finance Minister Nirmala...
The income of a non-resident Indian (NRI) earned in India is taxable. Whether a person will be classified as NRI or not will depend on the number of days he or she has stayed in India and the quantum of income earned. Tax on an individual’s income depends on the...
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