https://www.taxtmi.com/news?id=25274 The Finance Act, 2022 revises income tax chargeability, surcharge bands and adds a 4% Health and Education Cess; defines "virtual digital asset" and taxes transfers of such assets at 30% with only cost of acquisition allowed and no carry forward of losses; tightens trust and institutional compliance by amending sections on registration, corpus, accumulation, audit and cancellation of approvals; creates a 24 month updated return regime with required tax payment and additional income tax for delays; expands faceless assessment architecture and prescribes electronic process, video hearings and automated workflows; and updates customs/excise tariff rates and classifications. en-us Thu, 31 Mar 2022 10:05:17 +0530 Wed, 11 Feb 2026 15:59:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=25274 The Finance Act, 2022 revises income tax chargeability, surcharge bands and adds a 4% Health and Education Cess; defines "virtual digital asset" and taxes transfers of such assets at 30% with only cost of acquisition allowed and no carry forward of losses; tightens trust and institutional compliance by amending sections on registration, corpus, accumulation, audit and cancellation of approvals; creates a 24 month updated return regime with required tax payment and additional income tax for delays; expands faceless assessment architecture and prescribes electronic process, video hearings and automated workflows; and updates customs/excise tariff rates and classifications. News - Thu, 31 Mar 2022 10:05:17 +0530 https://www.taxtmi.com/news?id=25274