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Best Tips to Save Tax Without Investment? The income tax department furnished distinct deductions and privileges to the assessee that would get excluded from the taxable income beneath chapter VI A beneath Section 80 to diminish the tax load. Through the help of investment, you would get the deductions, however, there are indeed some deductions […]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) ruled that there is no penalty that could force on the failure to release the considered self-assessment income tax liability because of the fiscal pressures. “The assessee company, M/s Karanja Terminal and Logistic Pvt. Ltd. had e-filed its return of income for A.Y 2011-12 declaring an […]
The investigation of the books of accounts of the assessee is called a tax audit, which is done by a Chartered Accountant under the Income Tax Act 1961. Section 44AB functions through the situation under which the tax audit becomes essential for specific assessments. The purpose of the tax audit is to validate the accuracy […]
This is the time of year when employees of many firms start receiving requests to share details of their tax-saving investments with their employers. However, before that, you have to choose whether you want to opt for the new tax regime or the old tax regime. Budget 2020 has come up with a new tax […]
The latest rule made through the Indian tax council this year seems to become an issue for the foreign investors who pose sovereign funds as well as pension funds who invest in the country. The same is made essential by the tax council for all the non-individual tax filers to mention the PAN number of […]
GST council has initiated to provide the notices to various firms post revealing the mismatch in the tax credits when verified deeply via analytics tools made in the GSTN software. The tax department’s analytics department has seen these differences inside the returns furnished through the firms. The GST platform permits the firms to set off […]
The status of the residential person poses an essential role in finding out the method of his or her income that shall come under the tax for that year in India. Moreover, non-resident Indians NRIs and Persons of Indian Origin (PIOs) are very careful in preparing their stay in India for the specific year so […]
The businesses that were urged to furnish more indirect taxes upon specific import come beneath the taxman’s lens to take the ITC upon some more amount furnished before as penalties. The Department of Goods and Services Tax (DGST) was initiated to provide the notices to the importers to take of the tax credit with respect […]
Upon GST portal, every assessee who is enrolled requires one electronic register known as the Electronic liability register and two electronic ledgers namely Electronic Cash Ledger and Electronic Credit Ledger. The amount needed to pay as a tax is shown by these registers and ledgers, the amount available to furnish out the tax liability online, […]
