Tax Audit Due Date Extended to 07-October-2024 https://incometaxindia.gov.in/news/circular-10-2024.pdf Read the official circular above. Let us know if you have any additional questions. Contact – anshul@karwaandassociates.com
How can NRIs e-Verify IT Return from Abroad? Step-wise procedure Given below are the steps for NRIs to e-Verify IT Return from Abroad through Net Banking: To begin with, log into your e-filing account on the website of the IT Department. Once you’re logged in, you’ll be taken to your dashboard. From there, navigate to…
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F&O Income: Non-Speculative Business Income F&O income is classified as non-speculative business income, i.e., normal business income. Declare your F&O profits or losses under the “Profits and Gains from Business” head. For example, if you earned ₹50,000 from F&O trading, it should be reported as business income. Using the Correct ITR Form Use…
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Summary: When you rent a property from an NRI landlord in India, you are required to deduct TDS on the rent you pay. The TDS rate for rental income of an NRI is 31.2%(As per Section 195 of Income Tax Act, 1961). You can deduct TDS by filing Form 16A with the Income Tax Department.…
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Key Points: Summary: Have any Questions or Received a notice, get in touch with us to resolve it. Contact – anshul@karwaandassociates.com
Waiver of Pending Tax Demands up to Rs 1 Lakh per Individual: CBDT
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