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Search results for: GST authorities

Tax Compliance Relaxation

Government Acknowledges Tax Compliance Relaxation

Government of India could look at offering relaxation on various tax compliances, addressing demands from taxpayers for easing up on regulations amid the coronaVirus outbreak. It is notable that Maharashtra and Goa State tax authorities have already granting relaxations for filing value-added tax assessments for previous years. The due date for filing GST returns View […]

Section 286 & 271GB Penalty Under Income Tax Act

All About Penalty Under Section 286 & 271GB of Income Tax Act

Section 286 and 271GB of IT Act Under section 286 of the Income Tax Act, there are certain entities that are obliged to file a report in regard to the international group. Any failure in furnishing the reports with valid information and on time will lead to penalties. The penalties are mentioned under section 271GB […]

ITC Reconciliation Process and Results

All About ITC Reconciliation Process & Result for Taxpayers

ITC reconciliation is a hectic task which not only requires patience but also money and proper techniques. Therefore people often depend upon expert tax professionals for the accomplishment of their reconciliation tasks. Nowadays most of the professionals ignore ITC reconciliation while filing GST returns for their clients’ reasons could be more time consumption or the […]

New Faceless Assessment Scheme

Government’s New Faceless Assessment Boils Tax Unions, Unfolds Joint Letter

Income Tax officials of India spouted off their objection against the new faceless tax assessment programme launched by Prime Minister Narendra Modi to eliminate the corruption & increase the tax collection, a joint letter by tax unions showcases. Delegates of Income Tax Gazetted Officers’ Association & Income Tax Employees Federation wrote a joint letter to […]

Scrutiny Risk Income Tax Audit

A Full Guide to Scrutiny Risk in I-T Audit Reports in India

With the approaching due date for Income Tax Audit Report filing, taxpayers and their hired professionals are excessively occupied with the task of completing the Income Tax Reports. While some are busy bundling the documents others are struggling to accurately file the compliance. Tax Audit Reports are submitted by taxpayers whose annual turnover is more […]

Income Tax Department Raids

Income Tax Dept Prefers Direct Actions Over Raids

The Income Tax Department has made several major changes in the measures to catch the tax evaders and in the actions against them in the last few days. Now instead of raids in the country, the Income Tax Department will take direct action by setting the target. According to the senior officials of the IT […]

Cash Transactions & Inherited Property

Govt Ready To Revive Taxes Against Cash Transactions & Inherited Property

Many new changes are anticipated to be taken in by the Nation with the appointment of new finance minister by newly elected National Democratic Alliance (NDA) government.These mutations may include taxation on cash transactions, taxation on inherited property, change in the fiscal year from April-March to January-December and equalising the duration of the fiscal year […]

E Waybill System Key Amendments

Most Important Key Amendments Made in the e-Way Bill System

The article will give you complete information regarding the key amendments that were made in the e-Way Bill (EWB) generation form. All the registered taxpayers or transporters can get an accurate idea about the latest changes in the e-Way Bill generation form so they don’t have to face any problems while generating the same. Some […]

How to File ITR 5?

Step by Step Guide to File ITR 5 Online AY 2024-25

Income Tax Return Filing Filing an income tax return is a responsibility of every citizen of the country and also mandatory for each one of them. Income Tax Return is the form in which an assessee furnishes all his Income and tax details and thereon submit it to the Income Tax Department. Various ITR forms […]

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