The AI-enabled system will check for discrepancies between the data disclosed by an assessee and match it against the data fetched from stock exchange
So far certain faceless assessees were required to authenticate records separately through digital signature
It is better to file your tax early as it will help to have peace of mind by avoiding penalties. It will also help in getting your refund if any.
The last date to link your PAN cards with Aadhaar is September 30, 2021. Post this deadline, your non-linked PAN may turn inoperative.
CBDT has issued over Rs 67,400 crore worth refunds in five months of the current fiscal.
The key problem for taxation on cryptocurrencies is that there is no clarity on what they actually are— a currency, an asset, or something else.
In terms of claiming tax depreciation, the rate for a computer is 60% while for the rest of the gadgets is 15%.
I-T department between April 1 and August 25, 2020, had issued refunds of over Rs 95,853 crore
The taxpayers now have two tax regimes - new and old - to choose from. Here's how you can select from the two.
"There is a misconception that if the deadline has been extended, there is nothing to worry about," said Anurag Jain, Partner, ByTheBook Consulting.