Structuring Success | Tax and Business Blogs by EAZTAXBIZ

Crypto, NFTs & Taxman: Don’t Get Caught Off-Guard — Everything You Must Know About Virtual Digital Assets (VDA) Taxation & TDS in India The rise of Virtual Digital Assets (VDAs) has transformed the financial and investment landscape globally. In India too, digital assets such as cryptocurrencies and NFTs (Non-Fungible Tokens) are increasingly being adopted, not just as speculative investments but also as innovative ways to transact and store value. To regulate this rapidly growing sector, the Government of India introduced specific tax provisions applicable from FY 2022-23 , including TDS obligations, flat taxation on gains, and reporting requirements. Non-compliance can attract severe penalties and trigger Income Tax notices . This blog provides a comprehensive overview of VDA types, taxation structure, TDS compliance , and the common triggers for tax scrutiny . 📌 What Are Virtual Digital Assets (VDAs)? Under Section 2(47A) of the Income Tax Act, Virtual Digital Assets inc...

Ever Wondered Why Interest Accrues Even When the ITR Due Date Is Extended? Why Interest May Still Accrue—Even When the ITR Filing Due Date Is Extended The Central Board of Direct Taxes (CBDT) has extended the due date for filing Income Tax Returns (ITR) for non-audit cases from 31st July 2025 to 15th September 2025 for Assessment Year 2025–26 . While this extension certainly provides relief in terms of compliance timelines , it does not imply a waiver of interest on unpaid taxes . 🚫 Extension of Return Filing ≠ Extension for Tax Payment As per the Income-tax Act, taxes are required to be discharged within the financial year through TDS , advance tax , or self-assessment tax . The extension provided by the CBDT is only for filing the return , not for deferring tax payments . Therefore, interest liability under Sections 234A, 234B, and 234C continues to apply under specific circumstances, even if you file within the extended deadline. 📌 Interest Provisions – AY 2025–26 🔹 Section ...