https://www.taxtmi.com/article/detailed?id=10239 The Budget brings virtual digital assets into the tax net by taxing transfer income at a specified fixed rate with restricted deductions, denial of loss set-off, reporting and withholding obligations, and gift taxation treatment for receipts. It introduces an updated-return filing window, extends concessional and startup timelines, caps certain surcharges, and reduces AMT for cooperatives. GST amendments tighten timing and procedural rules for input tax credit, returns and refunds, limit electronic credit ledger utilisation, permit certain ledger transfers, and make interest on wrongly availed ITC uniform. COVID-related employer medical and ex-gratia payments receive specified exemptions. en-us Wed, 02 Feb 2022 12:23:26 +0530 Wed, 02 Feb 2022 12:23:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10239 The Budget brings virtual digital assets into the tax net by taxing transfer income at a specified fixed rate with restricted deductions, denial of loss set-off, reporting and withholding obligations, and gift taxation treatment for receipts. It introduces an updated-return filing window, extends concessional and startup timelines, caps certain surcharges, and reduces AMT for cooperatives. GST amendments tighten timing and procedural rules for input tax credit, returns and refunds, limit electronic credit ledger utilisation, permit certain ledger transfers, and make interest on wrongly availed ITC uniform. COVID-related employer medical and ex-gratia payments receive specified exemptions. Articles Budget - Tax Proposals Wed, 02 Feb 2022 12:23:26 +0530 https://www.taxtmi.com/article/detailed?id=10239