A summary of India’s tax framework for Virtual Digital Assets (VDAs), including the flat 30% tax on gains, 1% TDS, and the ITAT ruling on pre-2022 transactions.
Learn about the Updated Income Tax Return (ITR-U) under Section 139(8A). Discover its benefits, eligibility, and the process for filing to correct mistakes and report omitted income.
Understand income tax for Indian freelancers and influencers. Learn about presumptive taxation (Section 44ADA), claiming deductions, and selecting the correct ITR form.
Section 270AA of the Income Tax Act offers immunity from penalty and prosecution for under-reported income if taxpayers accept assessment, pay tax and interest, and do not file an appeal.
1. Introduction In an increasingly globalized economy, cross-border transactions have become commonplace. To ensure tax compliance and prevent tax evasion, the Indian Income Tax Department mandates the filing of Form 15CA and Form 15CB for certain foreign remittances. These forms serve as a mechanism for the government to track payments made to non-residents and ensure that appropriate taxes are […]
