Page 4 - Latest Updates on TDS
Cryptocurrency exchanges feel pinch as India's new tax regime starts
Sharp fall in volumes and number of visitors on first three days of April
 "Cryptocurrency exchanges feel pinch as India's new tax regime starts")
It's time to deduct TDS if rent exceeds Rs 50,000, say analysts
Applicable rate is 30% for non-resident landlords, 5% for rest
 "It's time to deduct TDS if rent exceeds Rs 50,000, say analysts")
Prevent NRIs' PAN from being declared inactive
The I-T Department hasn't made provision for allowing those ineligible for Aadhaar to mark their PANs, so the latter can be kept active after March 31
Budget 2022: For property buyers, right TDS must to avoid interest, penalty
Budget impact may not be palpable, but steer clear of taxman
 "Budget 2022: For property buyers, right TDS must to avoid interest, penalty")
Govt proposes to tweak TDS norms on sale of immovable property
One per cent TDS will apply on a non-agriculture immovable property of over Rs 50 lakh on the basis of sale price or the stamp duty value, which ever is higher
 "Govt proposes to tweak TDS norms on sale of immovable property")
Things to remember as you rush to file your return ahead of December 31
To avoid any last-minute errors, one must remember to use the correct ITR form, collate all relevant income and expense documents for quick referral
 "Things to remember as you rush to file your return ahead of December 31")
Tax mop-up likely to top target by Rs 2.5 trillion, say experts
Monthly GST collection likely to touch Rs 1.5 trillion next fiscal year
 "Tax mop-up likely to top target by Rs 2.5 trillion, say experts")
ITR filing extension: No relief to taxpayers on interest liability
ITR filing has increased to 320,000 daily in September 2021
 "ITR filing extension: No relief to taxpayers on interest liability")
Top headlines: Small firms on I-T radar, race for steel supremacy, and more
Business Standard brings you the top headlines at this hour
60-65 small- to mid-sized companies on I-T radar for TDS mismatch
These companies had reported healthy advance tax payments
 "60-65 small- to mid-sized companies on I-T radar for TDS mismatch")
Cracking the whip: TDS defaults by state PSUs, banks come under I-T lens
Tax dept plans to conduct over 500 survey operations to ensure compliance
 "Cracking the whip: TDS defaults by state PSUs, banks come under I-T lens")
New vs old tax regime: Compute liability before making the switch
Non-investors in tax-saving instruments may opt for the new regime
 "New vs old tax regime: Compute liability before making the switch")
Businesses need not deduct TDS on share purchases via exchanges: CBDT
Businesses had said there are practical difficulties in implementing the provisions of Tax Deduction at Source (TDS) contained in a rule.
 "Businesses need not deduct TDS on share purchases via exchanges: CBDT")
File past year returns, avoid higher taxes as new tax provisions kick in
Steeper TDS, TCS rates will apply from July 1 as new tax provisions kick in
 "File past year returns, avoid higher taxes as new tax provisions kick in")
I-T dept tool to identify 'specified persons' who have to pay higher taxes
The income tax department has developed a new utility to help TDS deductors and TCS collectors identify the 'specified persons' on whom higher rate of taxes will be levied from July 1
 "I-T dept tool to identify 'specified persons' who have to pay higher taxes")
Can't use ITR-1 if TDS paid on high cash withdrawal, say experts
Taxpayers now need to provide quarterly break-up of dividend income earned
 "Can't use ITR-1 if TDS paid on high cash withdrawal, say experts")
New TDS rules for PPF, other small savings schemes: Check details here
Rules apply only for cash withdrawals of non-ITR filers
 "New TDS rules for PPF, other small savings schemes: Check details here")
FPIs bat for common platform to avail Budget benefit on dividends
Tax consultants and custodians are also putting heads together to standardise the kind of documents needed to be furnished by FPIs, which can be acceptable to all companies
 "FPIs bat for common platform to avail Budget benefit on dividends")
21.5% growth in direct tax revenue for FY22 a realistic goal: CBDT chairman
In a Q&A, P C Mody says while income tax slabs have been left untouched, more money is being put in the hands of taxpayers with faster refunds. Tax administration reforms will boost tax compliance
 "21.5% growth in direct tax revenue for FY22 a realistic goal: CBDT chairman")
Banking on Budget: Hope and reforms amid pandemic and fiscal deficit
The government has taken laudable steps to support and propel the economy in these difficult times, but a lot more still needs to be done, writes Vikas Vasal
 "Banking on Budget: Hope and reforms amid pandemic and fiscal deficit")
