The FinTech Hub
Source: Live Mint I have been working in the US for the last three years. I had a regular demat account and had shares listed in India when I was in India. I do still hold an Indian passport but have become a non-resident and thus have been filing my ITR(Income Tax Return) as a…
Source: Live Mint Since Donald Trump’s victory in the US presidential elections on November 5, 2024, Bitcoin, the world’s largest cryptocurrency, has risen more than 30%, reaching its highest point ever. Investors have significantly benefited from this boom. If you are invested heavily in Bitcoin and want to book profit from this biggest crypto asset,…
Source: Live Mint The Income-Tax (I-T) department has today (November 17) launched a new campaign warning taxpayers of ₹10 lakh penalty if they fail to disclose foreign held assets or income earned from abroad in their ITR, according to a PTI report. The “compliance-cum-awareness campaign” aims to ensure that taxpayers report all information in their…
Source: Live Mint I have lived in the UK for the past 15 years. I came back to India on 15 October 2024 to take up employment. Do I have to file my Income Tax Return (ITR) in India next year? For a person who is a resident of India under the tax laws, his…
Source: Live Mint In 2022, the Indian government introduced a flat 30% income tax on gains from cryptocurrencies and Non-Fungible Tokens (NFTs). Investors riding the current rally should be aware of their advance tax and reporting obligations to avoid penalties under the Income Tax (IT) Act. With a 1% TDS deducted on sales of these…
Source: Live Mint The deadline to file income tax returns (ITR) by corporates and individuals requiring audit for the financial year 2024-25 is November 15, 2024. The deadline was set for October 31, 2024, initially, but was extended to November 15. Any further extension to this deadline is unlikely. This income tax return submission is…
Source: Live Mint My wife and I are both NRIs. She owns a residential property in India which she has rented out. She requested the tenant to credit one month’s rent into my NRO account instead of hers since I’m due to visit India shortly and can use those funds for local expenses. The resident…
Source: Live Mint Taxpayers who are meant to get their accounts audited have only one week left to file their income tax return (ITR) for AY 2024-25. The last date to file income tax return for these taxpayers is November 15. The income tax department recently issued a statement that says that it’s the last…
Source: Live Mint I plan to opt for the new tax regime when filing my ITR for AY 2025-26. Currently, I am on the old tax regime, so the 12% of my salary to the Employee Provident Fund (EPF) will continue through the rest of the financial year. Is it correct that I cannot claim…
Source: Live Mint If you are an active investor and often earn gains on the sale of your securities, bonds or mutual funds, you should be mindful of the tax rate that applies on these transactions. The gains accruing on the sale of assets is taxed under what is known as capital gains tax regime….
