
- By CA Manish Gupta
- Category Income Tax
- Views 586
In the absence of any clarification regarding the taxability of gains arising from transactions in cryptocurrencies, the taxability of such transactions would have to be determined based on the interpretation of the Income Tax law.
- By Authored by CA Manish Gupta, assisted by Akansha Gupta
- Category Income Tax
- Views 370
- By Manish Gupta
- Category Income Tax
- Views 591
Considering the tendency of taxpayers to evade the payment of taxes, Income Tax provisions provide for the collection of tax from the very source of income. Under this mechanism, the person responsible for making the payment is liable to deduct tax before making the final payment to the recipient at the rates specified by the department under the applicable sections of Income Tax Act, 1961.
- By Authored by CA Manish Gupta
- Category Income Tax
- Views 427
The government introduced specific provisions in the Finance Act, 2020, making it mandatory for charitable/religious/educational institutions/trusts to re-register /re-approval/provisional registration under the sections mentioned earlier. It has been made effective from 1st April 2021 by CBDT vide its notification number 19/2021 dated 26th March 2021.
- By Authored by CA Manish Gupta
- Category Income Tax
- Views 1572