CBDT i.e. Central Board of Direct Taxes has issued notification of new income tax return form for the financial year 2021-22. This time the Income Tax Department has already notified this form for taxpayers on 1st April 2022. Many financial experts are of the view that notifying income tax return forms early will bring huge benefits to the tax payers. This will help them to submit all the required documents. Along with this, the chances of making any kind of mistake will also be reduced.
There has also been a lot of curiosity about cryptocurrency tax among tax payers before the income tax form for the financial year 2021-2022. In the year 2022, Finance Minister Nirmala Sitharaman had announced during the budget speech in Parliament that from the year 2022, the government has decided to impose 30 percent tax on many amounts earned by cryptocurrencies. However, this tax will be applicable only on profit. If you incur a loss by investing money in cryptocurrencies, then in such a situation the government will not charge any kind of tax from such people.
There is no separate table for cryptocurrency tax
Cryptocurrency investors are eagerly waiting for this time’s income tax return form. But, this time the table giving details of earnings from cryptocurrencies has not been added in the ITR form. Due to this there is a lot of confusion among the people investing in cryptocurrencies.
These things are in ITR form-
ITR Form No-1 can be filled by those people whose annual income is up to Rs 50 lakh. This income includes salary, money coming from home and money coming from agriculture. At the same time, ITR Form No-2 should be filled by those people whose source of income is from things like mutual funds, stocks. ITR Form No-3 is for those people who have their own business. ITR Form No-4 can be filled by those people whose undivided families or companies whose income is up to Rs 50 lakh.
read this also-
Before traveling, check the list of canceled trains, today railways canceled 168 trains, many trains diverted
Pension Scheme: 2250 rupees will come every month in the account of women, check including Delhi-UP and Haryana, who will get how much benefit?