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Easy to Understand ITR Filing Status When you file and validate your ITR then the income tax department shall execute functioning your tax return. At the time of processing the tax department shall verify if there would be any differences between the shown income in the Income-tax return via the person with the available data […]
If the applicant furnishes the returns then the Karnataka High Court would allow the Superintendent of Central Tax to issue orders for revocation of the cancellation of the GST registration. The cancellation of GST registration was without due opportunity and was dictatorial seen by the single bench of Justice B. M. Shyam Prasad. The applicant […]
This article will guide how to handle GST litigations in a proper way. The fragmented indirect taxes structure in India has been streamlined with the implementation of the GST. Like any other law relating to taxes, the GST has also been the subject of its fair share of disagreements and litigations. Tax refunds, input tax […]
AIS app for assessees is launched by the Income tax department: Mobile app for AIS. There is good news if you are an assessee. The income tax department would have started the new mobile app known as the AIS in order to obtain the Annual Information Statement (AIS). For each transaction, the assessee shall obtain […]
Tax deducted at Source (TDS) and Tax Collected at Source (TCS) is the most popular methods of tax collection. To guarantee correct adherence to the tax regulations, it is crucial to recognize the difference between TDS and TCS under the income tax act 1961 since these are some big ones. Let’s get into it in […]
A division bench of the Gujarat High Court has overturned a decision to revoke a company’s GST registration on the grounds that the show-cause filing lacked sufficient justification. The Central GST Department conducted a search at the petitioners’, M/s Dee Cubes Diamonds Pvt Ltd., location. The government issued a notice to terminate the GST registration […]
The GST Council approved decriminalizing specific crimes and doubled the limit to the launching prosecution beneath the tax act to Rs 2 cr, however, kept the limit at Rs 1 cr for bogus invoicing. The department, for the SUVs (sport utility vehicles), charges a 22% compensation cess over the 28% GST and would have chosen […]
The Kerala High Court stated that Section 119(2)(b) of the Income Tax Act does not levy any limitation for the purposes of application filing for the condonation of delay. A single bench of Justice Gopinath P, sees, the same is wrong on the portion of the council to treat the filing date of the application […]
What is CBDT Rule 132? Central Board of Direct Taxes (CBDT) has made Rule 132, which comes into force from October 1, 2022. It deals with the application for re-computation of income under Section 155(18). CBDT has also shown Form 69 that can be used to apply for re-computation of income. Tax experts mentioned that […]
