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The comptroller and auditor general (CAG) found that the Income-tax department has examined one sample for scrutiny and found that the tax calculated is lower by Rs 44,000 crore. About 3.32 lakh cases have been audited by CAG in the FY 2017-18 and 2018-19. The report states that it shows a lack of seriousness of […]
Authority for Advance Ruling (AAR) Karnataka has held that no deduction towards property tax The constant demand from the public has made BBMP extend the deadlines for availing a 5% rebate on property tax from earlier April 30 to current May 31, 2020. Read more from the rent value of immovable services (RIS) is allowed. […]
Until now it was mandatory for taxpayers to submit an original invoice number while reporting a Credit/debit Note in Form GSTR-1 or GSTR-6, But now GSTN provided them a facility on the portal which can be used for Reporting single credit or debit note issued regarding of multiple invoices in their Form GST Return 1 […]
The Central Board of Direct Taxes (CBDT) said that all Income tax cases will be examined up for scrutiny except those which are related to search and seizure along with international charges and can be assessed by Faceless Assessment Know about the government’s newly introduced faceless income tax assessment for providing relief to the taxpayers. […]
The bid for boosting the state’s economy and gives the employment to the migrant people who have returned files during the rise of lockdown, the Uttar Pradesh council has declared a promotion policy which boosts the investment for the backward region of Purvanchal (eastern UP), Madhyanchal (central UP) and Bundelkhand. The industrial units will be […]
The government wants some assessees to pay the taxes even before they have some income and ascertain the TDS (Tax Deducted at Source) on it to pay. Such assessee includes those taxpayers who have to pay self-assessment tax amounting more than Rs. 1 lakh for the financial year 2019-20 and if any assessee fails to […]
The Delhi High Court has ordered the GST (Goods and Services Tax) officials to act upon the refund claims of the assessees within 15 days or pay the claims of the assessee along with an interest. The high court asked the officials to do so pointing out the errors in the GST refund claims Get […]
The Central Board of Direct Taxes (CBDT) on Friday released order and directed income tax officers to clear all old-pending income tax refunds Here, the taxpayers can check quick points for faster processing income tax refunds. Also, we added that how to track the status of tax refunds via the official portal. Read more filed […]
The Central Board of Indirect Tax and Customs (CBIC) issued a clarification of the refund of ITC under form GSTR-2A The CBIC has issued the notification on October 09, 2019 regarding Input tax credit limitation. Now, it is mandatory to upload complete invoices if taxpayers want full credit. Read More. The clarification has been provided […]
