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Search results for: Income Tax Act

Process to File & Validate TDS Return

The Complete Process to File & Validate TDS Return

TDS Return or TDS statement is a quarterly statement that a TDS deductor has to submit to the income tax department. TDS return reflects the amount of TDS deducted by you and deposited to the government. TDS is Tax Deducted at Source i.e. the tax which is deducted at the place where the income is […]

New GST Return Mechanism

Current GST Filing System is Soon to Take a New Face

The government is consistently enhancing the GST system to make it touch the highest visualized spectrum. For the cause, GST Network (GSTN) is introducing transformation in the current GST return filing interface to make it a more simplified return filing mechanism. “Although, various amendments were made in the currently active version 2 of the GST […]

GST Review Panel

GST Review Panel to Explore Ways to Increase Revenue & Catch Defaulters

Discussion will be held in its 1st meeting among the centre & state official of GST review panel which formed last week, regarding the measures to heat up the administration against the Goods & Service Tax (GST) offenders caught by the software especially invented for detecting the deceitful acts such as tax evasion and false […]

WEF India Economic Summit 2019

WEF’s India Economic Summit to Focus on Startups & Cut Down IT Rates

Measure to combat the gloomy phase of Indian economy was discussed in the World Economic Forum’s annual India Economic Summit. As per the discussion held in the event, abbreviating just the corporate taxes will not serve the purpose. The growth rate of the Indian economy has declined to 5% in the April-June quarter, which is […]

Availing ITC with New GST Forms Sahaj and Sugam

Availing ITC Not so Easy with Proposed GST Forms Sahaj & Sugam

GST Forms – Sahaj and Sugam are proposed for claiming the Input Tax Credit (ITC). Well, alike GSTR-1 these Forms too don’t seem to be simple for the GST payers and are anticipated to continue hardships for availing ITC. However, we can not ascertain the complexity level until the proposed Forms actually be used for […]

CAIT Notifies GST Defraud E-Commerce

CAIT Notifies FM About GST Defraud of E-Commerce Companies

In a recent letter to finance ministry, the CAIT again alleged that the online sellers like Flipkart and Amazon are charging GST on the lowered value of the goods and not on the market price. Here the goods like electronics and other standard products such as mobile phones, electronic items like refrigerators, AC, branded clothes […]

Rajasthan Marble Industry

Rajasthan Marble Industry Gets Paralyzed Due to High GST Rate & Recession in Real Estate

Most of the well known architectural marvels in India, including the Taj Mahal, are renowned for the marble used obtained from Rajasthan. However, the time when the country’s economy witnessing downfall, the marble industry of Rajasthan, which is highly acknowledged for its high-quality finished products, is experiencing its adverse effects. The economic slowdown along with […]

Proposals for Lowering GST

Fitment Committee Denies Proposals For Lowering GST

Currently, in the 37th Council Meeting, the GST Council gave some sectors a reason to celebrate by allowing reliefs in GST rates while some remained disheartened with the denial. Earlier to the meeting, Auto and biscuits sectors were streaming in headlines as the respective dealers endeavoured for GST cut off in order to revive their […]

Link Pan with Aadhaar

CBDT: Why Should Link PAN Aadhaar Card Before 31st May 2024

Effective from 31st May 2024, all the prescribed PAN Cards, if not linked with prescribed Aadhaar Cards, some sections may be considered invalid. During the presentation of the budget, these amendments in the PAN-Aadhaar linking rules were announced. CBDT has confirmed that the last date for linking PAN to Aadhaar is 31st May 2024. What […]

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