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The Income Tax Department has introduced an investigation operation against particular social media influencers and content creators who make content using various platforms such as YouTube and Instagram. The move was launched because they are not disclosing their income and profits corresponding to their earnings, according to the sources. The department started taking action last […]
All the taxpayers are warned by the Income Tax Department of India that they did not disclose their Permanent Account Number on social media. Revealing their ten-digit alphanumeric PAN publicly can lead to its misuse. The IT Dept is warning taxpayers or assesses owing to mentioning of PAN from a number of taxpayers in the […]
An internal assessment by the income tax department reveals that insurance companies and their intermediaries have allegedly evaded approximately ₹30,000 crore in income tax since July 1, 2017, by underreporting income and fabricating expenses. The department has started taking action by issuing tax demand notices to these entities to recover the outstanding amounts, which may […]
Various prominent social media influencers would come under investigation from the income tax department concerning tax fraud, as revealed in the list. Although the identities of these people are kept a secret, it is clear that tax officials are taking action against influencer tax avoidance. To prevent any legal repercussions, it is essential for social […]
TDS on the paid consideration has been in dispute since the disallowance of the expenses of the gift on the business associates. It is alleged by saying that these gifts are instead of the professional fees, pain in kind, and thus the assessee must deduct and deposit the TDS beneath sections 194J /194C of the […]
As it is not possible to remember the password for each and every account. Starting from social media accounts to ITR filing Accounts, all require a separate login.
Newly launched Goods and Services Tax (GST) Regime is one of the hottest topics for conversations in social media. Within two days of launch, Twitter received nearly 1 million conversations which indicates the sentiments of people towards the nation and the biggest tax reform.
A clarification has been furnished by the Finance Ministry in between the dissemination of deceptive details on social media platforms concerning the new income tax regime. The same shows that there are no additional revisions that are effective from 1st April 2024. Taxpayers are enabled to opt for either the old or new tax regime […]
A significant increase of 56% has been seen in the total number of GST return filings over a period of five years until April 2023, reaching a total of 11.28 million. The Ministry of Finance attributes this surge in GST return filings to taxpayers’ adherence to compliance. The finance ministry recently stated through a social […]
