ITR Guide to Capital Gains: Reporting Equity and Debt Investments in ITR How to Report Equity and Debt Capital Gains in ITR Taxpayers with capital gains from shares, equity mutual funds, debt mutual funds, or bonds should generally use ITR-2 (or ITR-3 if they have business/professional income). Capital gains must be reported under Schedule Capital …
MP’s Biggest Online Trading Scam – INR 21 Crore Crypto Fraud A 70-year-old Chartered Accountant from Bhopal, Madhya Pradesh, reportedly lost approximately INR 21.05 crore in a sophisticated cryptocurrency and online trading fraud. How the Fraud Happened in Online Trading Scam The victim was allegedly approached through WhatsApp messages promising exceptionally high returns from cryptocurrency and …
Decode Your Annual Information Statement: A Practical Guide for Taxpayers The Annual Information Statement provides a comprehensive view of your income, taxes paid, and specified financial transactions. However, taxpayers should not rely solely on AIS while filing their Income Tax Return. Every entry appearing in Annual Information Statement should be reconciled with the relevant supporting …
Old Tax Regime vs New Tax Regime: Which One Should You Choose? Every tax season, taxpayers face an important question: Should I choose the Old Tax Regime or the New Tax Regime? The answer is not just about paying lower taxes. It also depends on your financial goals, investment habits, lifestyle, and the amount of …
FAST-DS 2026: Income Tax Relief Available, But Foreign Exchange Management Act Risks Still Remain A Golden Opportunity for Foreign Asset Compliance Foreign Assets Disclosure Scheme 2026 was introduced in the Union Budget 2026, providing a one-time compliance window for people who had neglected to include abroad assets or income in their Indian tax returns. The …
Schedule FA (Foreign Assets) for AY 2027-28: Complete Filing Guide for Foreign Assets Disclosure in ITR What is Schedule FA (Foreign Assets)? Schedule FA (Foreign Assets) is a mandatory disclosure schedule in the ITR for residents who hold foreign assets, foreign bank accounts, overseas investments, or earn foreign income. Foreign assets are reported on a …
CBDT Notifies Cost Inflation Index for TY 2026-27: What It Means for Property Owners and Taxpayers The Central Board of Direct Taxes (CBDT) has officially notified the Cost Inflation Index for Tax Year (TY) 2026-27 at 384, effective from 1 April 2026. This marks an increase from the previous year’s CII of 376, providing taxpayers …
FAQs on Mandatory Input service distributor Compliance under GST Who is required to obtain an Input service distributor registration? An office of a supplier that: Receives invoices for input services; Receives such services on behalf of one or more distinct persons (GST registrations under the same PAN); and Is required to distribute the related Input …
Taxation of Crypto Derivatives in India Crypto derivatives are financial contracts whose value is linked to cryptocurrencies. They allow traders to profit from price movements without owning the actual crypto assets. Common derivatives include crypto futures, crypto options, and perpetual futures contracts. These instruments are used for speculation, hedging risk, arbitrage, and leveraged trading Taxation of Crypto …
Code on Wages Compliance Checklist 2026: A Complete Guide for HR, Payroll & Legal Teams Payroll is no longer just about calculating salaries and processing monthly payments. Under the Code on Wages, 2019, and the Code on Wages (Central) Rules, 2026, wage compliance has evolved into a structured legal obligation requiring employers to maintain records, adhere …