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In the Calcutta High Court, if the registration of a dealer is cancelled, the dealer does not continue its business in the term of no invoice can be raised via the dealer. The same rendered an impact on the tax recovery. The division bench of Justice T.S. Sivagnanam and Justice Prasenjit Biswas ruled that the […]
The assessee at various times would go through the income tax and the tax deducted at the source (TDS). there is a difference between the two. When it is a question of calculation these taxes procedure differs. Hence, prior to paying the tax returns, the same would be important for the salaried people to prevent […]
Form 16 would be an essential document for the salaried class people. They assist the employees to find out the total taxes that would get deducted from their salary income, the gross salary which would be furnished in the fiscal year, tax-exempt allowances, and others. According to the income tax laws, a person should obtain […]
This article elaborates on the income tax, the administrative framework of Income-tax, the Return Filing Period, who is subjected to furnish the tax, what is the method to furnish the tax, precautions in tax payment, when to furnish the tax, advance tax computation, Income Tax Challans, Exempt Income Taxable, Income, Form 26AS under income tax, […]
The blocking of input tax credit) under GST would be affecting businesses all over the state. As the city is the financial capital of the state, the majority of businessmen of the city would get impacted by it. In front of the state, GST commissioner Lokesh Jatav several CAs, and tax consultants asked to resolve […]
In the current times, the reduction in the time limits towards furnishing the belated or amended income tax return (ITR) gives assessees a short duration to amend the accidental glitches or meet these timelines in the difficult positions. Until now, the former day to furnish the amended or belated return was Dec 31 of the […]
Income tax laws near the world acknowledge the incidence of marriage and divorce, and Indian tax laws are not the only ones. This impact affects the tax liabilities. Mentioned below is the discussion about how the Indian tax laws impact your tax liability. Tax Treatment of Gifts Accepted During the Wedding Let us begin with […]
In this post, we aim to clear up any confusion or doubts surrounding income tax return filing and other tax-related queries. We have provided answers to some commonly asked questions to give taxpayers a better understanding of the process and potential tax benefits. Query: I am a 55-year-old individual covered by my employer’s group health […]
The Bombay high court (HC) ruled that a salary slip that mentions a standard deduction of the professional tax was enough proof of an employee salary slip if there is no income certificate given by the heads. state governments and Union territories impose the professional tax on all the salary-earning people and are restrained to […]
