In a move aimed at simplifying the income tax return process, the Income Tax Department has announced the launch of Digital Form 16, an electronic version of the traditional Form 16. This initiative ...

Gift of VDAs is also to be taxed in the hands of the recipient. The government has collected Rs 157.9 crore as tax deducted at source on payments made from transfer of virtual digital currencies upto ...

The income tax department has come out with detailed disclosure requirements for TDS deductions for virtual digital assets, under which date of transfer and mode of payment will have to be specified.

The government introduced a TDS of 1% on payment for transfer of virtual digital asset to a resident in the Finance Act of 2022.(Reuters) New Delhi: Central Board of Direct Taxes (CBDT) has amended ...

The CBDT has notified TDS returns in Form 26QE and Form 26Q for specified persons and others, respectively, along with Form 16E to be issued by the deductor. The Union Budget, 2022 introduced taxation ...

The Finance Act, 2022, inserted a new section, 194S, in the Income Tax (I-T) Act, 1961, with effect from 1 July. This section mandates the buyer of a virtual digital asset (VDA), to ensure that tax is ...