Facility Of ‘Initiating Drop Proceedings’ Of Suspended GSTINs Due To Non-filing Of Returns
Facility Of ‘Initiating Drop Proceedings’ Of Suspended GSTINs Due To Non-filing Of Returns 1.Announcement by Government Automation of Drop Proceedings for taxpayers suspended upon issuance of SCN in Form GST REG17.The Goods and Service Tax Network (GSTN) has issued an advisory on the facility of ‘Initiating Drop Proceedings’ of Suspended GSTINs due to Non-filing of […]
No GST have to pay on notice pay recovered by employer from employee for premature quitting of organization.
No GST have to pay on notice pay recovered by employer from employee for premature quitting of organization. 1.Announcement by Government Forfeiture of salary or payment of bond amount in the event of the employee leaving the employment before the minimum agreed period, such amounts recovered by the employer are not taxable as consideration for […]
Last date for linking of PAN-Aadhaar extended
Facility Of ‘Initiating Drop Proceedings’ Of Suspended GSTINs Due To Non-filing Of Returns 1.Announcement by Government In order to provide some more time to the taxpayers, the date for linking PAN and Aadhaar has been extended to 30th June, 2023, whereby persons can intimate their Aadhaar to the prescribed authority for Aadhaar-PAN linking without facing […]
Facility Of ‘Initiating Drop Proceedings’ Of Suspended GSTINs Due To Non-filing Of Returns
Facility Of ‘Initiating Drop Proceedings’ Of Suspended GSTINs Due To Non-filing Of Returns 1.Announcement by Government Automation of Drop Proceedings for taxpayers suspended upon issuance of SCN in Form GST REG17. The Goods and Service Tax Network (GSTN) has issued an advisory on the facility of ‘Initiating Drop Proceedings’ of Suspended GSTINs due to Non-filing […]
Amendments in “Angel Tax”
Amendments in “Angel Tax” 1.Announcement by Government CBDT proposed amendments to Rule 11UA regarding the valuation of shares for the purpose of section 56(2)(viib) of the Income-tax Act, 1961. These changes aim to address concerns surrounding the applicability of Tax Collection at Source (TCS) on shares issued to nonresidents. 2. Intent Currently, Rule 11UA prescribes […]
Tax Audit under Section 44AB of Income Tax Act
Tax Audit under Section 44AB of Income Tax Act 1. What is Tax Audit? Tax Audit under Section 44AB of the Income Tax Act is the examination and review of the books of accounts of a taxpayer having income from a business or profession. The tax auditor would ensure that books of accounts have been […]
Section 139(5)- Revised Income Tax Return
Section 139(5)- Revised Income Tax Return If there are any mistakes concerning your income tax filing, the Income Tax Department allows you a second chance to rectify such mistakes and file a correct return by filing a revise return. You can make revisions in your income tax returns as per the provisions of Section 139 […]
Income Tax Deductions List – Deductions on Section 80C, 80CCC, 80CCD & 80D
Income Tax Deductions List – Deductions on Section 80C, 80CCC, 80CCD & 80D Sections Eligible investments for tax deductions 80C Payments made towards life insurance premiums, Equity Linked Saving Schemes, payments made towards the principal sum of a home loan, SSY, NSC, SCSS, and so on. 80CCC Payment made towards pension plans, and mutual funds. […]