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+1*UPI & Credit Card Payment option enabled on Income Tax Portal via Payment Gateway*
*рднреБрдЧрддрд╛рди рдЧреЗрдЯрд╡реЗ рдХреЗ рдорд╛рдзреНрдпрдо рд╕реЗ рдЖрдпрдХрд░ рдкреЛрд░реНрдЯрд▓ рдкрд░ рдпреВрдкреАрдЖрдИ рдФрд░ рдХреНрд░реЗрдбрд┐рдЯ рдХрд╛рд░реНрдб рднреБрдЧрддрд╛рди рд╡рд┐рдХрд▓реНрдк рд╕рдХреНрд╖рдо*
Convenience Fees
for Credit Cards is
0.85% + 18% GST = 0.1003%
4 917
Clause 44 clarification & issues
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For more Faster & Quicker Updates
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CBDT notifies *TDS disclosure requirements for cryptos, virtual digital assets*
From July 1, TDS of 1 per cent will be levied on payments towards virtual digital assets or crypto currencies beyond Rs 10,000 in a year, as the Finance Act 2022 has introduced Section 194S in the I-T Act.
on June 21 CBDT notified certain amendments in I-T Rules with respect to furnishing TDS returns in Form 26QE and Form 16E.
TDS collected under Section 194S shall be deposited within 30 days from the end of the month in which the deduction has been made.
"The new forms such as 26QE require detailed information for payments on transfer of VDAs such as
1 the date of transfer of VDA
2 amount paid/ credited
3 either in cash or kind or in exchange of another VDA
This will help the tax department to trace the VDA transactions,
The 2022-23 Budget has brought in clarity with regard to levy of income tax on crypto assets. From April 1, a 30 per cent I-T plus cess and surcharges, is levied on such transactions in the same manner as it treats winnings from horse races or other speculative transactions.
The threshold limit for TDS would be Rs 50,000 a year for specified persons, which include individuals/HUFs who are required to get their accounts audited under the I-T Act.
