Browsing author
The Central Board of Direct Taxes (CBDT) has released a list of FAQs on Thursday to ease up income tax returns filing for those with a directorship in a foreign company and held equity shares outside India. The revenue department also explained through FAQs that mentioning of unlisted equity shares received as a gift, will […]
In July 2019, the central and state governments managed to collect the revenue of INR 1,02,083 crore as Goods and Service Tax (GST). Comparatively, it is 5.8% more over the similar month last year, as described from an official. In the current fiscal, it is the third chance when the combined central and state GST […]
On 24th July, the CBDT will conduct a taxpayer e-assistance campaign across the country to acknowledge the 159th Income Tax Day. while the Finance Minister Nirmala Sitharaman will be the chief guest of the event, as mentioned from the Officials. The Central Board of Direct Taxes (CBDT) is authorized body behind the launch of the […]
In the budget 2019, several GST related rules and regulations have changed which have been presented in the Finance Bill. Finance Minister Nirmala Sitharaman presented the budget 2019 on July 5, 2019. The budget promulgates the tax payment facilities in addition to the changes made in composition schemes. Most of the things presented in the […]
Providing a sigh of relief to exporters, the centre announced to pay the input tax credit (ITC) refunds of state taxes which will translate into lesser transaction time and costs. while the manual interface is being said under processing. As the industry claims, there is a huge difference between the amount claimed for ITC to […]
On Wednesday, the Finance Ministry announced if there is any imparity in details of GST monthly sales return and outward supply, it has to be mentioned in the annual return form. Also, the payment of due taxes should be done. Further, clearing businesses’ doubts on considering the primary source of data for filing the annual […]
While addressing a joint session of Loksabha and Rajyasabha on June 20, the President of India, Mr Ram Nath Kovind said that my government will continue to take effective measures further in wake of simplification of the GST rule. Further, he said that the government is working towards to make Indirect tax simpler and effective. […]
The ruling government is all set to propose the union budget for fiscal 2019-20 on July 5, under the supervision of newly elected Finance Minister Nirmala Sitharaman. With this upcoming budget, the real state personnel are intending for the re-introduction of Input Tax Credit (ITC) for under-construction properties so that the liquidity situation in the […]
With the coming budget on July 5 this year, we could witness an increase in income tax limit from 2.5 lakh to 5 lakh as suggested from ASSOCHAM. Also, the ruling government is considering to imply tax on cash withdrawal of above INR 10 lakh in a year. It will not only help in promoting […]