What Are the Rights Available for Trademark Registered Owners?
16 Mar, 2023
To deal with Crypto Tax in India, in the 2022 budget, a new section 115BBH was included. This clause imposes a 30% tax (with applicable surcharge and 4% cess) on Crypto trading earnings starting from 1st April 2022.
The Income Tax Act of 1961 & the Income Tax Rules of 1962 require citizens to file income tax returns with the IT Department at the end of each fiscal year. These gains must be written before the specified deadline.
An audit is required if a proprietorship firm's yearly sales income surpasses one crore. In addition, an audit would be needed if the total gross receipts for the assessment year exceeded 50 lakhs.
The Income Tax Department in India levies an individual's income based on the tax bracket to which they belong. Taxpayers are constantly seeking methods to pay no income tax. They, however, miss out on pay optimization.
Section 80C of the Income Tax Act governs the majority of tax-saving investment schemes. According to this provision, the investor's investments are entitled to tax exemption up to a maximum of Rs. 1,50,000.
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