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If you receive a TDS mismatch notice from the income tax department, SAG Infotech can guide you through the entire process of resolving this error legally. A technical professional from a reputed company was surprised to obtain a tax demand of approximately Rs 1.98 lakh concerned with his income tax return (ITR) filed for the […]
A demand notice has been received before various TCS employees from the income tax department for the alleged discrepancies in their tax deduction at source (TDS) claims. The IT giant TCS has asked its employees to wait for additional instructions before paying the sought amount. Between Rs. 50000 to Rs. 1.5 lakh, the tax demand […]
The Bangalore Bench of Income Tax Appellate Tribunal ( ITAT ) remitted the case to the Assessing Officer ( AO ) for reassessment discovering that the Commissioner of Income Tax (Appeals) had sent notices to an inaccurate email address. The appellant-assessee, Venkataraju Chandra Shekar, had filed an appeal contesting the order for the Assessment Year […]
In a decision by the GST council, the universities, and research centres established under the Central & State government Act or those claiming the income tax exemption would waived from filing GST on research funds. In the last meeting of the council the same ruling has been made that assures that these institutions would not […]
The council that suggests the GST rates may suggest a lower levy on health and life insurance policies with annual premiums up to Rs 50,000 to lessen the cost for lower and middle-income groups. The fitment committee might suggest placing a cap on the maximum amount assured to lower the GST levy or a combination […]
A second chance has been furnished to the applicant by the Delhi High Court to prove the payment of the inward supplies, concerning the GST income tax credit (ITC) refund on the export of zero-rated supplies claimed. The applicant, Rajiv Sharma HUF Proprietor of M/s Sagar Scooter Syndicate via its Karta Rajiv Sharma, a Hindu […]
For the AY 2018-19 the income tax department has begun investigating the cases to find which of them required to be reopened, a process that may result in tax notices. In the matters of escaped income, this follows the union budget proceeds to lessen the time limit for tax reassessment from 10 years to 5 […]
In this year the assesses must expect delays in their income tax refunds. For scrutinizing income tax returns (ITRs) the government has implemented a rigorous (Strict) new system using a specially designed, self-automated artificial intelligence (AI) software program. Advanced AI for Comprehensive Examination The new AI program is made to validate the preciseness of all […]
The income tax department has issued a warning to the assesses against making bogus claims, since the due date for filing ITR for AY 2024-25 approaches July 31. The department advises that inflating expenses, underreporting earnings, or exaggerating deductions is a punishable offence and may result in delays in refund issuance. Till Now Over Five […]
