Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The Income Tax Department, under the Ministry of Finance, Government of India has recently launched the Young Professional Scheme. Under this scheme, the aim is to strengthen the resources and streamline tax litigation management. The scheme will open opportunities for young graduates in Law and Accountancy to learn and acquire precious knowledge of the domain. […]
One time amnesty scheme has been expected by the exporters in order to deal with the problems caused by a provision in the Goods and Services Tax (GST) rules that expects to safeguard government revenue from traders who demanded credit under Integrated GST (IGST) through what authorities have termed ‘irrelevant’ products. Sanjay Kumar Aggarwal, Chairman […]
The Income Tax Department has marked a new milestone as more than 6 crore Income Tax Returns (ITR) had been filed as of 30th July 2023. Almost 26.76 lakh ITRs have been submitted as of 6:30 p.m. on 30th July. The last date for filing the ITR is today 31st July 2023. According to the […]
For the financial year 2022-23 from 31st July 2023 to 31st August 2023, the Tax Advocates Association of Gujarat has urged the Finance Ministry to prolong the last date of ITR Filing. Before the Union Finance Minister Nirmala Sitharaman, CBDT Chairman, and Principal Chief Commissioner of Income Tax (PCCIT) of Gujarat the representation was addressed. […]
The popular jaggery-based Indian confectionery, Chikki, comes in so many different flavours. The market offers a delightful array of Chikki flavours, ranging from the classic sesame (til) chikki to the immensely popular peanut chikki and the rich dry fruit chikki. However, the introduction of cocoa powder to create a new chocolate peanut chikki takes it […]
The Authority of Advance Ruling (AAR), the Uttar Pradesh bench has ruled that solar home lighting systems are subject to 12% GST. The Rajendra Kumar and Harilal Prajapati bench has noted that ‘solar home lighting systems are included under the category of solar-based devices covered under HSN Code 94055040. The applicant proposed to supply a […]
The deduction under Section 80P of the Income Tax Act, 1961 must not be permitted on interest made through the nationalized banks the Income Tax Appellate Tribunal (ITAT) Ahmedabad Bench stated during upholding the Commissioner of Income Tax (Appeal) order. The taxpayer Gujarat State Co-op Agriculture and Rural Development Bank Ltd is stated as a […]
The Income Tax Appellate Tribunal (ITAT), the Mumbai Bench ruled that under Section 54 of the Income Tax Act, 1961, the claim of capital gain exemption on construction of a residential house completed within 3 years is approved and removed the penalty levied under Section 271(1)(c) of the Income Tax Act. Hemant Shridhar Phatak, the […]
In an effort to combat the pervasive issue of fake GST registration, the Central Board of Indirect Taxes and Customs (CBIC) is considering the implementation of biometric authentication and geo-tagging for high-risk entities operating under the GST system. Additionally, tax authorities are contemplating the reinforcement of regulations within the GST return filing framework to restrict […]
