Income tax in India

The National Revenue Agency (NRA) announced that it is launching inspections of companies whose subject-matter is the sale of cryptocurrency.

The objective is to establish whether companies and their clients comply with tax and social security legislation.

Taxpayers will also investigate the principle of operating the platforms for the purchase and sale of such assets.

Individuals can submit their annual income tax return for 2018 from January 10, the National Revenue Agency reported on 3rd of January, reported BNT.

The tax returns can be submitted via the electronic service and in paper at the NRA offices.

Submission of corporate tax returns for 2018 through the NRA electronic service will also start on January 10th.

The Finance Ministry plans to increase the number of monthly installments for the payment of income tax and the ENFIA property levy.

Speaking to ANT1 TV, Deputy Finance Minister Katerina Papanatsiou said the government wants "some of the taxes to be paid in more installments" in 2019.

Taxpayers will have to increase their annual transactions made via credit/debit cards or e-banking by up to 50 percent, or face a hefty fine that will depend on the level of their income.

Kathimerini understands the regulation that will raise the minimum amount of online transactions toward the tax-free amount will be submitted to Parliament at the start of 2019.

Hearing-impaired protesters wear white gloves to sign slogans during a rally marking International Day of Persons with Disabilities, in downtown Athens, yesterday. Hundreds of demonstrators took part in the march, demanding better protection of their rights and tax breaks.

The Finance Ministry tabled a draft law in Parliament on Thursday that provides for the immediate repayment of deducted income tax and value-added tax to corporations and individuals for amounts up to 10,000 euros.

The rebates will be paid out without the prior scrutiny of each taxpayer, although the tax administration will be granted the right to perform random checks.

While the process for the submission of income tax declarations was completed on Monday and Tuesday is the deadline for the first installment, all signs point to revenues being about half a billion euros less than last year.

The Finance Ministry announced on Tuesday it is extending the deadline for the submission of income tax declarations till next Monday. It will also confirm a special extension for the residents of the wild-fire stricken areas by another couple of months.

Property owners will only find out about their Single Property Tax (ENFIA) dues this year after the celebrations for the end of the bailout program in August - and probably after the Thessaloniki International Fair in September too.

The Finance Ministry on Tuesday announced it is extending the deadline for the submission of income tax declarations from June 30 to July 26 due to the huge delays recorded. This concerns both individual taxpayers and businesses.