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The realtor making shopping mall has got the conclusion about clogged credit under the goods and services tax (GST) regime from the Orissa High Court. This shopping mall construction company is contented with the decision as the court has approved input tax credit to it. The issue has been cleared up under Section 17 (5) […]
As per the Economic point of view of the OECD, there will be an increase of 7.50 per cent in the strength of the Indian economy by the year 2020. A new income scheme will be set for the small farmers will help in rural utilization. There will be an increase in Investment growth because […]
I-T dept again suspended the inclusion of details regarding GST & GAAR in tax audit report till 31st March 2020 that means the reporting necessity of GST and General Anti-Avoidance Rules (GAAR) details in income tax audit form has been suspended till March 2020. The mutation seemed to be backbreaking for the companies and the […]
As per the report, there has been a reduction in the number of people who file ITR (Income Tax Returns) by 1 per cent in FY 2019 even though the government has tried much to expand the tax base further indicated a deep recession in the overall economy. In 2016, the government took a very […]
What is the ITR 4 Sugam Form? ITR stands for Income Tax Return and ITR 4 Sugam Form is for the taxpayers who are filing return under the presumptive income scheme in Section 44AD, Section 44ADA and Section 44AE of the Income Tax (IT) Act. If the turnover of the aforementioned business becomes more than […]
Income Tax Return Filing Filing an income tax return is a responsibility of every citizen of the country and also mandatory for each one of them. Income Tax Return is the form in which an assessee furnishes all his Income and tax details and thereon submit it to the Income Tax Department. Various ITR forms […]
The ITR-3 Form can be filed by those Individuals and Hindu Undivided Families who earn income from Proprietary business or by practising his/her profession. However, when an Individual/HUF earns income as a partner of a partnership firm which is carrying out business/profession, he cannot file ITR-3. In such a case, he is required to file […]
The MSME registration procedure in India has now become easier for businesses. To add to this, the Government of India also offers a wide range of benefits and schemes to the MSMEs, which they can avail easily. Latest Update “The MCA department has issued the notification related to extending the due date of existing MSMEs […]
As per the sources, the service providers with an annual turnover of up to INR 50 lakh has been given the time till April 30 to opt for the composition scheme and pay 6 per cent GST by the tax department.
