Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The CBIC stated on Monday that there was no suggestion before the government to decrease the threshold for the required creation of e-invoices beginning January 01st 2023. Businesses having revenue of Rs 10 crore or more are already required to create electronic invoices for all B2B transactions. At this time, there is no suggestion well […]
To double the income tax exemption limit to Rs 5 lakh in the coming budget so that the economy would obtain a rise in consumption, said the Industry body Assocham. Rs 2.5 lakh is the max amount up to which no tax is levied at present. The exemption for people of age between 60 to […]
The Income Tax Appellate Tribunal (ITAT), Kolkata bench refused the revisional order issued under section 263 of the Income Tax Act, 1961, not specifying the Document Identification Number (DIN), violative of the circular furnished via the Central Board of Direct Taxes (CBDT) in 2019. The taxpayer, Mr. Mahesh Kumar Surekhahas take part in the validity […]
From the forthcoming budget, the salaried people secure much more expectations, and taxes relief is a major concern. In India, from 5% the personal income tax has been started and then goes to 42.74% along with the surcharge and cesses. As compared to other countries like Hong Kong (15%) Sri Lanka (18%), and Singapore (22%), […]
Real estate companies would have much more financial data for monitoring such as rental income, property sales, commission payments, etc. Ineffective accounting management leads to emerging issues. The major step in handling the finances is to ensure that all the income along with the expenses would be recorded precisely. It renders that posing a system […]
Reduce the personal income tax rates is been suggested to FM Nirmala Sitharaman, in the Union Budget 2023-24 for raising the consumption in the economy, however, there are two options one is a lower income tax regime with some exemptions and the other is a higher income tax regime with all exemptions provided to assesses. […]
Form 15G for the provident fund (PF) withdrawal would be the self-declaration form which confirms the petitioner that there shall be no TDS deduction when they withdraw their provident fund prior to the provided fiscal year. Under the norms of income tax, when the employee withdraws via provident fund prior to completing 5 years with […]
The Finance Act 2020 inserted Sub Section (1H) in Section 206C for furnishing the tax collection via a seller through the amount obtained as consideration for the goods sale when the same would surpass Rs. 50.00 Lacs in any former year. With identical references, the Finance Act 2021 inserted a TDS section 194Q for furnishing […]
The Chandigarh Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that the taxpayer could not be stated to maintain the stock enrolled along with the books of accounts on the basis of not uploading the same on the income tax portal which does not permit the bulk uploads and permit the manual […]
