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Search results for: Income Tax Act

What to Do After GST Departmental Audit?

Official GST Audit: Risks, Essential Document & Helpful Tips

GST department audit parameters towards the selection eligibility, required documents which could be obliged for the and proactive steps to be undergone. GST is the biggest tax improvement in our country and to a larger extent it has been stable now but the assessee is still struggling with some problems and compliances needed to be […]

Unanswered Questions on the ITR Portal Developed by Infosys

Mismanagement Behind Infosys ITR Filing Portal 2.0 Development

Comparing observed inadequacy with ultraist purposes like an anti-national plan to destabilize the administration is inexcusable when talking about icons like Nandan Nilekani, Infosys, and the information technology (IT) industry in general. The industry’s offering to India’s development is a matter that justifies no recurrence. Recently an article was issued in the Rashtriya Swayamsevak Sangh […]

Supreme Court Order for Revised GST Refund Formula

SC Directs GST Council to Relook GST Refund Formula on Inverted Duty Structure

The refund shall be furnished to the credit that collects on inputs beneath the inverted duty for the GST regime said Supreme court. As per the order, the Madras High court placed it alongside the order of the Gujarat high court. The appeal has been acknowledged which the GST department urged to go through again […]

No Relief on Interest Liability for Taxpayers

Only ITR e-Filing Extension But No Change on Interest Liability U/S 234A

The central board of direct taxes CBDT prolonged the last date for furnishing of different tax returns up to 31st Dec for the current year however it shall remain imposed the interest upon the late payments build post to 31st July which was the previously made last date. The tax payments are to be performed […]

Download Form 26AS ITR Filing Portal

Procedure to Download Form 26AS from ITR Filing Portal V2.0

Form 26AS has all the required details of tax deducted concerned with the taxpayer by the deductor i.e. bank, employer etc. Therefore all the deductions of TDS which are shown up in the Form 16A/Form 16 can be cross verified by the means of Form 26AS. It is to be noted that the amount of […]

New Deadlines for ITR Filing Forms and Audit Reports

Big Relaxation! CBDT Revised ITR Forms & Audit Reports Due Dates

On the note of troubles faced by the taxpayers and different stakeholders while filing of Income Tax Returns including multiple reports of audit for Assessment Year 2021 – 22 behalf the Income-tax Act, 1961(‘the Act’), Central Board of Direct Taxes (CBDT) has come up with the result to expand the last dates for filing of […]

1.19 Crore ITR Filings So Far for Previous FY

1 Crore+ ITR Filings Despite Error on New Portal 2.0 for FY 2020-21

The e-filing portal of the income tax department reveals that there is a rise in the ITR filing to 3.2 lakh daily during September 2021 and 1.19 crore ITRs for AY 2021-22 even when there are issues inside the portal and has been furnished as per the statement provided through the Finance ministry. “The Income […]

How to Reply GSTR 3B and 2A Mismatch Notice?

How to Respond GST Notice for GSTR 3B & GSTR 2A Mismatch?

Even after 4 years of GST implementation and over a thousand notifications and circulars, we are still facing a lot of problems in GST on-site maintenance or in the department’s working. Due to the issues and continuous changes many times, businesses and professionals face a lot of problems. This is unfortunate to say that even […]

2 Percent TDS Deduction on Advertisement

ITAT Delhi: 2% TDS Deduction U/S 194C on Charges for Advertisement

The Income Tax Appellate Tribunal (ITAT), Delhi Bench that TDS on publication charges must be deducted beneath section 194C at the 2% and not 194J at the rate of 10%. The taxpayer Perfect Probuild P. Ltd is a private limited company engaged in the business of construction. The taxpayer has done the lease agreement with […]

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