As per the new income tax rules, those with an aggregate TDS or TCS of INR 25,000 or more during a financial year must file their returns compulsorily. For senior citizens, the amount extends to INR 50,000 or above. The central government has decided to bring more people into the tax database. As per the
Although unregulated, cryptocurrency is picking up pace in India. During the Union Budget 2022, Finance Minister Nirmala Sitharaman announced a flat 30 percent tax on the income and gains earned through cryptocurrencies and the sale of virtual digital assets. An additional one percent TDS also exists on every crypto transaction. Many among India's crypto community
In India, IPOs can form an excellent opportunity for SMEs to raise money and get listed on the country’s stock exchanges. But like every other company eyeing an IPO, SMEs also have a set of key requirements and eligibility norms to adhere to while applying for an IPO. Let’s see what they are for both
ESOP can work wonders if you know how to make them work for your company, regardless of whether listed or unlisted. However, ESOPs work in different ways for both these company types. Let’s glance through both. Employee Stock Option Plan, better known as ESOP in corporate parlance, refers to giving stock options to employees, coupled
Understanding ESOP Valuation: Why it is Crucial for Startups? During tough times, a startup that has recently begun its journey can turn weak enough to start bleeding from various places. The human resource department is one such critical area. In situations like these, many startups consider ESOPs as a substantial option to hold their
Need of Tax Consultant for Tax Planning Tax forms a significant part of every company’s compliance. However, it is an intricate aspect that demands meticulous planning, a careful study of tax structures, filing returns, and performing many other tasks. Honestly, you need an expert, precisely, a tax consultant to plan and manage taxes efficiently.
Export Incentive Schemes What is SCIPS Exim/Duty Credit scrips are scrips given to exporters as “incentives” by the Government of India. While Merchandise Exports from India Scheme (MEIS) scrips are given for goods exports, Service Exports from India Scheme (SEIS) scrips are given for services exports. The value of the scrips are a percentage
4 Steps for NRIs on How to File Income Tax in India NRIs are required to pay tax on income earned, accrued, arisen, or deemed to be accrued or arisen in India. This article will look at the four steps involved in filing income tax for NRIs in India. How to File Income Tax
After the March 2022 deadline for filing Income Tax returns, Pan-Aadhaar linking final date was extended to March 2022 The central government has extended the deadlines for PAN-Aadhaar link extension as a significant relief to those affected by the covid 19 pandemic. It increased the last date for filing income tax, but this was
What is New in Form 26AS and How it Impacts Taxpayers? The Central Board of Direct Taxes (CBDT) recently ordered the incorporation of various new financial details in Form 26AS under the Income Tax Act 1961. The new details include purchases like mutual funds, foreign remittances, etc. Of course, there’s much more to the