ITR filing 2024: The deadline for individuals to submit their Income Tax Returns (ITR) is July 31, 2024, which is just a little over a month. It is essential to compile and organise pertinent documents such as salary or income records, bank statements, and previous tax returns in preparation for filing. When filing taxes, it … Read more
The Union Finance Minister has noted that the Central Board of Direct Taxes (CBDT) has exempted the Reserve Bank of India from the special provisions of the Income Tax Act, 1961, regarding the tax deducted at source, and the tax collected at source for non-filers of an income-tax return. In a notification, the Finance Ministry … Read more
The Income Tax Department has reportedly sent SMSes regarding total tax deducted at source to many salaried taxpayers across the nation. The message mentions details of TDS deducted by the employer for the quarter ending December 31 and the cumulative TDS for the financial year 2023-24. The message says: “Total TDS by employer of PAN … Read more
Income Tax Calendar 2024: The new year has started and the Income Tax department has already shared the tax calendar for this year. It is crucial to note the income tax-related deadlines to avoid paying fines and penalties. Usually, the last date to file the Income Tax Return (ITR) for FY 2023-24 (AY 2024-25) without … Read more
Employers will have to pay 30% tax on virtual digital assets (VDAs) such as cryptocurrencies they offer to their employees as compensation or otherwise. This is among detailed clarifications the government is expected to issue this week on the tax on VDAs announced in the budget, officials told ET. The tax will be levied on … Read more