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Verifying the legitimacy of issued Show Cause Notices and Orders under GST holds utmost importance within the sphere of tax compliance. This article explores the importance of closely examining these documents, bringing attention to essential aspects of the CGST Act, 2017. Fill Form for GST Compliance Software What is the Need to Verify the Served […]
This post discusses some of the basic effective strategies which are helpful for GST officials. They can be used to prevent input tax credit fraud. This technique provides a complete process for handling and determining possible fraudulent actions related to claiming ITC, which can assure tax compliance and save the integrity of the GST system. […]
Form 26QB has significant importance in the process of deducting tax at source (TDS) for property sales. However, occasional errors and mistakes may occur during submission of this form. If you come across any inaccuracies in your Form 26QB, there’s no need to worry as you can rectify them. This article has been written to […]
Non-resident Indians (NRIs) need to get a Tax Deduction at Source (TDS) certificate in order to avoid having taxes deducted on income generated in India. NRIs cannot utilize Form 15G/H to excuse themselves from TDS on their income as residents may. Instead, they must submit an application to the assessing officer to get a certificate […]
When a tax officer issues form GST DRC-01 to a taxpayer due to non-payment, underpayment of taxes, improper utilization of input tax credit, or issuance of an erroneous refund, and the taxpayer fails to settle the outstanding amount, they are labelled as defaulters. In accordance with clause (a) of sub-section (1) of section 79 of […]
After the completion of an income tax audit, it’s essential for individuals to verify certain aspects to ensure the accuracy of the audit report. This verification is crucial to prevent potential penalties imposed by the income tax department due to inaccuracies in the report. Additionally, rectifying any errors may necessitate rehiring an auditor for a […]
To facilitate the process of the income tax payment and address any errors in the income tax challans, an online challan correction feature is been introduced by the income tax department on the ITR portal. To increase the efficiency and preciseness in the procedure of the income tax payment the same feature is been made. […]
In this detailed article, we have provided comprehensive information about the Corporate Identification Number (CIN), which is assigned to companies settled in India by the Registrar of Companies (ROC). We will be discussing what the CIN is, how to check it, and its significance in different business documents submitted to the Ministry of Corporate Affairs […]
What is New Income Tax E-form 71? The Central Board of Direct Taxes (CBDT) via notification number G.S.R. 637(E) on 31st August 2023, has introduced a new electronic application Form 71 for the objective of crediting Tax Deduction at Source (TDS) by amending the Income Tax Rules, 1962. These rules may be called the Income-tax […]
