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The income tax department has raided a Youtuber named Taslim, who runs a channel called 'Trading Hub 3.0'. Cash, gold jewellery, and other valuables were found during the raid. Taslim has been accused of earning money through illegal means, but his family denies the claims.
Interest income from bank deposits, dividends from shares and mutual funds, gifts, lottery winnings, and prize money — all need to be disclosed under the head “Income from other sources” while filing your income tax return.
While clarifying that an inoperative permanent account number (PAN) is not an inactive PAN, the income tax (I-T) department says one may file the income tax return (ITR), irrespective of the PAN becoming inoperative. Many non-resident Indians (NRIs) and overseas citizens of India (OCI) are finding it difficult to file ITRs after 30 June 2023.
House rent allowance (HRA) tax benefit is available only to salaried individuals who are planning to opt for old tax regime. Further, this tax benefit can be claimed only if they have the HRA component as part of their salary structure and is staying in a rented accommodation. Self-employed professionals cannot avail this deduction. HRA tax exemption is not available under the new tax regime.
The deadline for linking PAN-Aadhaar expired on June 30, 2023. For individuals who haven't linked their PAN with Aadhaar, their PAN cards have become inoperative from July 1, 2023.