During a presentation of India’s federal budget for the next fiscal year, the country’s finance minister Nirmala Sitharamanannouncedthat the government plans to impose a 30% tax on income gained from cryptocurrencies. Sitharaman also said that this levy includes crypto exchanges, as well as non-...
Income from trading futures & options on recognized exchanges is categorized under non-speculative business income.Profit / Loss resulted from trading in futures & options must be reported as a business income in Income Tax Return.It should be noted that this also applies to individuals. You don'...
The Corporate Tax Rate in India stands at 34.94 percent. This page provides - India Corporate Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.
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19.reciprocation, repayment, or requital:profits in return for outlay. 20.response or reply. 21.the gain realized on an exchange of goods. 22.Often,returns.a yield or profit, as from labor or investment. 23.Also calledtax return. a statement on an official form showing income, deductions,...
A closer look at the income tax policy on earnings through non-conventional means in India Income tax planning becomes pivotal to achieve one’s financial goals, and while some find it monotonous, it is necessary to understand the nuances involved, along with the numerous prevailing tax-s...
Avoid making this error. Be clever to earn the respect of your government and the Indian tax authority.Failure to submit an ITR and failure to disclose any income earned in India carries several penalties.The following is on the list:
COINTELEGRAPH IN YOUR SOCIAL FEED Follow ourSubscribe on The Income Tax Department of India is secretly training its officials to investigate cryptocurrencies. An internal guidebook circulated by the department explains cryptocurrencies, their characteristics, the “dark side of Bitcoin” an...
Most of the other interest yielding instruments like bank deposits,company fixed deposits, NSC, Post Office Monthly Income Scheme, Sr. Citizen Savings Scheme,7.75% GoI Bondsetc., can attract tax on interest income. The Reserve Bank of India(RBI)has recently released its fifth bi-monthly rate ...
Today, income tax in India can be categorized as - 1. Direct Tax: It is a tax that is paid on your income and goes directly to the government. 2. Indirect Tax: It is a tax that an entity collects on one’s behalf and pays to the government. Eg. restaurants, movie theatres, massa...