
Angel Tax: Experts say most startups unlikely to benefit from new rules
Only a small universe of Indian startups stand to benefit from the recent tax notification issued by the CBDT, says Deloitte India partner Russell Gaitonde
Only a small universe of Indian startups stand to benefit from the recent tax notification issued by the CBDT, says Deloitte India partner Russell Gaitonde
Economies like the US, the UK, Germany and France included in the list; Singapore, Netherlands and Mauritius kept out
CBDT lays out guidelines with regards to tax provisions on income from online games
ITR forms have been notified in advance in order to enable filing of returns from the beginning of the ensuing assessment year.
The net direct tax collection grew 19.81% year-on-year to ₹11,35,754 crore during the ongoing financial year.
FinMin says July 31, 2022, marked the highest filing of ITRs in one day at 72.42 lakh, while throughout the month, 5.13 crore returns were filed.
The proposed draft ITR takes a relook at the return filing system in tandem with international best practices, says CBDT.
The Central Board of Direct Taxes (CBDT) had earlier extended the last date for filing ITRs for the assessment year 2021-22 till December 31.
The department says tax payers can raise a red flag if they do not agree with any transaction mentioned in AIR.
I-T department rolls out new Annual Information Statement to provide comprehensive information about taxpayers, including actions initiated by law enforcement agencies.