Probability of inquiry from tax dept could be higher in old tax regime, says Preeti Sharma of BDO India | Mint

Probability of inquiry from tax dept could be higher in old tax regime, says Preeti Sharma of BDO India | Mint

Source: Live Mint Income Tax (I-T) department has released online utilities for ITR-1 and ITR-4 but not yet for ITR-2 and ITR-3. As soon as they are released, taxpayers are recommended to start the process of filing their tax returns, suggests Preeti Sharma, Partner, Global Employer Services, Tax & Regulatory Services of BDO India. In…

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Invested in crypto? Report it in your income tax return as taxmen ‘nudge’ investors | Mint

Invested in crypto? Report it in your income tax return as taxmen ‘nudge’ investors | Mint

Source: Live Mint The Income Tax Department (ITD) has sent a communication to thousands of individuals who have undertaken cryptocurrency transactions but failed to reflect this income in their returns, official sources said last week, reported PTI. These transactions pertain to assessment years 2023-24 and 2024-25, they said. The department and its policy-making body, the…

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