Blog categorized as Income Tax Return

A Delhi school teacher got into trouble with the Income Tax Department after she deposited ₹3.5 lakh in cash into her bank account.

Over the last few years, we’ve all heard terms like Bitcoin, Ethereum, NFTs, and crypto coins. These are all forms of Virtual Digital Assets (VDAs). While many people trade in them or even gift them, one big question arises: How does tax work on these assets in India?

India’s labour law framework is designed to protect the rights of employees while ensuring fair practices for employers. Among the most significant statutes are the Payment of Bonus Act, 1965, Payment of Gratuity Act, 1972, and Payment of Wages Act, 1936.

The rollout of the Invoice Matching System (IMS) has brought increased transparency and accountability to India’s GST framework. However, users sometimes inadvertently reject genuine records—such as invoices, debit notes, or credit notes—leading to compliance and reconciliation challenges.