Page 3 - Latest Updates on TDS
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.
 "Trading dries up on Indian crypto exchanges as new transaction tax kicks in")
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
 "No more freebies! Influencers, music bands, doctors liable to 10% 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
 "Compare Form 16 with 26AS before filing income-tax return: Experts")
Govt clarifies rate of TDS on virtual digital assets continues to be 1%
The 1% TDS will be applicable from July 1, 2022
 "Govt clarifies rate of TDS on virtual digital assets continues to be 1%")
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.
 "Non-payment of TDS not a ground for initiation of insolvency process: NCLAT")
File ITR to avoid TDS/TCS deduction at higher rate, say analysts
The CBDT has issued a circular pertaining to Sections 206AB and 206CCA of the I-T Act, which provide details regarding people to whom higher TDS/TCS rates should apply
 "File ITR to avoid TDS/TCS deduction at higher rate, say analysts")
CBDT to taxmen: Complete 30% faceless assessments by end-June
Faceless assessment units identify issues, seek information, and analyse material to conduct assessment
 "CBDT to taxmen: Complete 30% faceless assessments by end-June")
Govt seeks to grow tax base, makes filing must for TDS/TCS above Rs 25,000
In the case of senior citizens, the aggregate of Rs 50,000 apply; rule came into force on April 21
 "Govt seeks to grow tax base, makes filing must for TDS/TCS above Rs 25,000")
Seniors need to submit Forms 12BBA, 15G, 15H to save on TDS: Experts
As we enter FY23, remember April is a good time to look into your tax planning for the year ahead
 "Seniors need to submit Forms 12BBA, 15G, 15H to save on TDS: Experts")
How changes in EPF rules may affect you?
Parking money into the govt's retirement fund has become less attractive. After effecting interest rate cut, the EPFO is now levying TDS on interest earned on contributions above Rs 2.5 lakh
 "How changes in EPF rules may affect you?")
TDS will not apply to EPF balance till FY21: Here's what experts suggest
If EPF account is linked to PAN, 10% TDS rate will apply, else 20%
 "TDS will not apply to EPF balance till FY21: Here's what experts suggest")
