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Governments all throughout the world deal with the serious problem of tax evasion. From the beginning of the liberalization and globalization of the Indian economy, it has grown more and more typical in India. Any action intended to conceal, understate, or fraudulently report income to reduce one’s tax burden is referred to as tax evasion. […]
The supply of machinery, mechanical appliances, parts, etc including the erection, commissioning, and installation is being supplied by the applicant. The GST returns in Form GSTR 3B for the FY 2017-18 (for short, “the FY”) would have been submitted by the applicant. Asking for the books of accounts for conducting the desk audit and rendering […]
GST input tax credit Input tax is related to a taxable entity, which means the (IGST and CGST) in respect of the CGST Act and (IGST and SGST) in respect of the SGST Act are imposed upon each supply of goods and any services on the entity that is used by it or that is […]
Short Brief About Advance Tax Advance Tax is a part of your tax payment that must be made before the end of the year. The tax should be paid in the same year as the income is received. Therefore, it is a popular name called a pay-as-you-earn scheme. Who is Required to Pay Advance Tax […]
The most effective word in the world would be Free and the another closer would be Discount. Since people like to feel that they had saved money while doing a purchase of goods or claiming services at a discount and would go with a good deal. You too felt good when you bought the food […]
Here’s what you should do if you work from home for a foreign firm and are unsure if you need to pay income tax. To ascertain your tax due, first examine your resident status in India, any tax deducted at source (TDS), and the Double Taxation Avoidance Agreement (DTAA). Submit Form 67 (foreign tax information), […]
The Central Board of Indirect Taxes and Customs has made it clear that once a company enters the bankruptcy process, it cannot be made to pay back taxes, such as GST, in excess of the “reduced amount” established. Banks and investors will benefit from the change in a more assured way. CBIC mentioned that when […]
Under the GST act, an assessee would need to reverse the ITC that was claimed by 30th November for the case when his supplier could not deposit the dues the taxes via 30th September. PAN-linked mobile along with the email could be used with biometric authentication or GST Registration. The Central Board of Indirect Taxes […]
A Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that domestic companies must file form 10-IC within the prescribed timeframe if they wish to claim a deduction under section 115BAA of the Income Tax Act. The appellant was represented by Counsel Nihar A. Mehta, and the department was represented by Chetan M. […]
