Powerd By SAG INFOTECH
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Taxation is a tough point and has regular amendments in its laws, formats, and policies and can irritate any person. A taxpayer obtains four months to prepare for furnishing the tax returns. In this a tax preparation checklist: 26AS Form and AIS (Annual Information System) Form 26AS would be the consolidated statement that consists of […]
The refund is a cumulative process to return the taxes collected by the assesses in the filing process and here we will see some of the recent changes and amendments introduced by the government in the format of the guidelines for both post-audit as well as the refund claims basis. The Central Board of Indirect […]
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 […]
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 […]
ITR consists of a form that a person every year submits to the income tax department mentioning the income of the individual and the tax amount subjected to pay towards the government. Related to a specific year that is beginning from 1st April and finishes on 31st March every year. The income could be posted […]
A new form for filing updated IT returns has been announced by the Income Tax Department. In this form, taxpayers should provide the reason for filing and the portion of income to be allowed for taxation purposes. ITR-U is the new form and taxpayers can use it to file updated income tax returns for the […]
An advisory with respect to the composition taxpayers under the GST system has been issued on April 30, 2022, by the Goods and Services Tax Network (GSTN). From FY 2019-20 onwards, composition taxpayers are required to pay the liability using form GST CMP-08 on a quarterly basis, whereas they are required to file returns in […]
“The law of income tax is enriching. As intriguing as it is, the more one learns, the more he seeks to learn” In the former articles, we discussed the income tax law and now wrote an article concerning the ancillary provisions as included in the Income Tax Act, of 1961 itself. The same act consists […]
As per the provisions of section 54 of the CGST act, no GST refund of the unlisted ITC will be permitted in cases other than the i. Zero-rated supply made without payment of tax; ii. In which the credit has been collected on the basis of the tax rate on the inputs more than the […]
