Powerd By SAG INFOTECH
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SAG Infotech is a leading tax software development company in India, established in 1999, offering solutions for Income Tax, TDS, MCA, and GST. The company holds a well-built network in more than 80 cities network with a strong base of 50,000+ clients across India. A total of 200+ technical executives, as the company holds 9 […]
What is an Online e-Dispute Resolution Scheme(e-DRS)? The Central Board of Direct Taxes reported the e-Dispute Resolution scheme, 2022 to settle tax disputes. Under section 245MA in the Income-tax Act, 1961 (hereinafter directed to as “the Act”), the Central Board of Direct Taxes (CBDT) notified the e-Dispute Resolution Scheme, 2022 (e-DRS) to decrease litigation and […]
A new form for filing updated IT returns has been announced by the Income Tax Department. In this form, taxpayers should provide the reason for filing and the portion of income to be allowed for taxation purposes. ITR-U is a new form that taxpayers can use to file updated income tax returns for the Assessment […]
“The law of income tax is enriching. As intriguing as it is, the more one learns, the more he seeks to learn” In the former articles, we discussed the income tax law and now wrote an article concerning the ancillary provisions as included in the Income Tax Act of 1961 itself. The same act consists […]
The Jharkhand High Court bench has recently cancelled a Form GST DRC-07 summary notice issued by the GST department for not being issued in compliance with the law. The petition was filed in response to a CBIC notice dated 10.02.2020, which says that interest paid on late payment of taxes is recoverable under Section 79 […]
The Maharashtra Authority of Advance Ruling (AAR) which consists of the members Ranji Magoo and T.R. Ramnani, has directed that the GST would be subjected to pay upon the composite supply of work contracts consisting of earthwork. The petitioner is the owner of M/s. Mahalakshmi BT Patil Honai Constructions JV, a GST registered company, which […]
Corporate fraud, it includes any act committed by any individual with the connivance of another person, any concealment of any fact, or any abuse of position, aimed at deceiving, taking advantage of, or injuring the company, its shareholders, or its creditors, or any other persons, whether wrongful gain or wrongful loss occurred. Management Responsibility for […]
ITR 7 can be filed by any person, including companies who are required to furnish a return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D) Important Points to Know While Furnishing the ITR-7 Why So Difficult to File the ITR 7 Form? The ITR 7 is much more different than the […]
Know About Statement of Financial Transaction Statement of Financial Transaction (SFT) poses the report of the mentioned financial transactions by the particular individual along with the stated reporting financial institutions. These people who enrol, maintain or record these particular financial transactions are compulsory to submit SFT to the income tax authority or these people, authorities […]
