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Generate Form 16A: Want to know Step-by-Step Guide?

Form 16A is a certificate issued by a deductor (such as an employer, bank, or financial institution) to the deductee (the taxpayer) as proof of tax deducted at source (TDS) on payments made to the taxpayer. It is primarily used for payments other than salaries, such as payments for professional fees, rent, or interest. After filing the TDS return (Form 26Q) for payment other than salary, you need to download Form 16A.

Understanding Form 16: TDS Certificate from Your Employer

To provide proof of the TDS deducted and deposited on their salary income, employers issue Form 16, which is a TDS certificate, to employees every financial year.

Sqrrl: How to Register, Login, Reset Password, Download Statement and Withdraw.

Sqrrl Fintech stands out as the premier Mutual Fund App, facilitating seamless investment in Mutual Funds. Through the Sqrrl Account login, users can effortlessly invest, access statements, and initiate withdrawals.

Cryptocurrency: Tax and Legality of Bitcoin in India

Cryptocurrency, characterized by its digital nature and cryptographic security, has surged in popularity, with Bitcoin emerging as a top choice among Indians.

Income Tax on Cryptocurrency, NFT & VDA (Virtual Digital Asset)

In the recent Budget 2022 announcement, Finance Minister Nirmala Sitharaman introduced significant changes in the taxation of cryptocurrency and other Virtual Digital Assets (VDA).

Income Tax Notice for Crypto Trading under Section 148

Data Upload: The ITD received additional data on crypto trading activities through the VRU/CRIU functionality on the Insight Portal of Income Tax.

GST on Supply of Cryptocurrency, NFT, VDA (Virtual Digital Asset)

Cryptocurrency and other digital assets have been the subject of extensive discussion among traders for many years. In the 2022 Budget, the finance minister provided clarity by classifying cryptocurrency and similar assets as Virtual Digital Assets (VDAs).

Tax on gifting Crypto, NFT, VDA in India

In India, cryptocurrency is categorized as a Virtual Digital Asset (VDA). The Budget 2022 brought new rules for taxing cryptocurrencies, NFTs (Non-Fungible Tokens), and other VDAs.

Income Tax for NRI and Foreign Income

Determining the tax liability of an NRI hinges upon their residential status for the year. It’s crucial to ascertain the residential status of an individual before delving into their tax obligations.

Guide: Income Tax for NRO and NRE Accounts

NRO and NRE accounts are essential banking tools for Non-Resident Indians (NRIs) to manage their finances in India. NRO, which stands for Non-Resident Ordinary account,

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Understanding Income Tax Department Notifications: What You Need to Know

In today’s digital age, taxpayers must be vigilant about communications from the Income Tax Department (ITD). It’s not uncommon to receive notifications via SMS, phone calls,

Compliance Portal: Tax liability from Investment in Securities

ITR When a taxpayer engages in securities investments, they incur tax liabilities on the income generated from these transactions. The classification of this income as either Business Income

Compliance Portal: Tax liability on Expenditure

In the intricate world of income tax, expenditures serve as vital clues to an individual’s lifestyle and spending habits. From family celebrations to international travels and fine dining experiences, these expenses reflect how one utilizes their income.

Compliance Portal: Information Confirmation for Non-Filing of Return

Click on the “Back” option to return to the e-Campaign – Non-filing of return screen.

To complete the response, click on “Information Confirmation” to submit feedback against the provided information.

Compliance Portal: Income Tax Information Summary

When the Income Tax Department (ITD) identifies transactions during a financial year that don’t align with a taxpayer’s typical profile, they present these discrepancies for the taxpayer’s review.

Compliance Portal: Non-Filing of Returns

In the intricate realm of income tax compliance, taxpayers may encounter queries for non-filing of returns if they skip submitting their Income Tax Return (ITR) for a specific Assessment Year (AY).

Compliance Portal: Information Detail

When you access the Compliance Portal, you’ll find a section dedicated to Information Summaries. Here, you can delve into the details of transactions flagged by the ITD.

Compliance Portal: Tax Liability on Cash Deposits

Taxpayers dealing with significant cash deposits must adhere to the rules outlined in Section 114B. For transactions involving Rs. 50,000 or more,

Compliance portal: Tax liability from Sale of Immovable property

In the realm of income tax regulations, understanding the intricacies of capital gains tax is essential for taxpayers. When selling immovable property, capital gains tax,

Compliance Portal: Tax Liability for House Property

Tax Liability for House Property: Navigating income tax verification and taxation related to house property can be complex, but essential for taxpayers to ensure compliance with regulations.

Download Tax Profit and Loss report from Axis Direct

Axis Direct offers the convenience of downloading your Profit and Loss Report online. This report, which is the same as a Tax P&L report, is crucial for calculating taxes on trading income.

Advance Tax: Rules, Calculations, and Due Dates

Advance tax, as the name implies, involves paying income tax in advance rather than in a single payment at the end of the financial year during the filing of Income Tax Returns (ITR).

What is ITR 5? A Comprehensive Guide for Partnership Firms and Similar Entities for AY 2025-26

If you are running a partnership firm, LLP, or any other entity and wondering what is ITR 5, this article will clear all your doubts. Simply put, ITR 5 is the Income Tax Return form prescribed for partnership firms, LLPs, associations of persons, and other similar...

How to Calculate Capital Gain Tax | Step-by-Step Guide

Learn how to calculate capital gain tax on different assets, understand indexation benefits, and apply the correct tax rates for accurate financial planning.

DTAA – Double Taxation Avoidance Agreement: Definition, Types, and Benefits

For Non-Resident Indians (NRIs) employed in foreign countries, the Double Taxation Avoidance Agreement (DTAA) serves as a vital tool to prevent the occurrence of double taxation on income earned both in their country of residence and in India.

PAN Card Application Process on TIN-NSDL portal

The TIN-NSDL portal offers an online platform for PAN card application, providing convenience through internet-based services. However, applicants also have the option to apply offline.

Open a trading account online on ICICI Direct

You can open a trading account online with ICICI Direct. The transformation of stock markets from an open outcry system to an electronic system has made trading more efficient and accessible.

Income Tax Notice

An income tax notice is a formal letter sent by the Income Tax Department to taxpayers for various reasons. These notices might ask for more information, clarify details in tax returns, remind individuals to file their returns, or notify them about tax audits and assessments.

How to Find the Password for ITR File (PDF/JSON) + Easy Guide to Reset or Access It

If you have downloaded your Income Tax Return (ITR) file but are stuck because you cannot open it, you’ve landed at the right place. The password for ITR file is designed to protect your sensitive tax information from unauthorized access. Knowing the correct password...

Download Tax Profit and Loss report from ICICI Direct

ICICI Direct allows you to download your Profit and Loss (P&L) Report online, which is crucial for calculating income tax on trading income.