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On the government’s order, 21 income tax officers have been compelled to retire under Fundamental Rule 56(j), as the officials incriminated of extortion and other malfeasance acts. Under Fundamental Rule 56(j), government officials can be mandatorily retired in public interest on notice of not less than three months. These officers have been forced to retire […]
According to the latest amendment in the said notification, an explanation shall be added in the Table. The explanation reflects the inclusions under the term “bus body building“. The explanation shall be entered against serial number 26, in column (3), in item (ic), in the table. The explanation reads, “For the purposes of this entry, […]
Sign of Relief for Bharti Airtel, Vodafone and Idea – The Department of Telecommunications will turn out the Goods & Services Tax Council through the Finance Ministry for the pending (ITC) Input Tax Credit As the deadline for filing GST returns under the new, revised mechanism is approaching, many taxpayers are still confused regarding the […]
In the digital era, when many new chartered accountant software eventuates regularly, it becomes quite difficult to pick the most reliable, ingenious and relevant. Smart decision-makers purchase tried & tested products and that should be the way. Availing of a free trial is the best way to make a quick uptake decision. SAG Infotech – […]
The finance ministry has to come up with solid plans to get the desired figures of tax revenue. Finance Minister Nirmala Sitharaman, who was supposed to introduce measures to accelerate the stagnant economy within a month of her maiden budget being approved by Parliament. The council is asking for suggestions from separate section stakeholders before […]
ITC reconciliation is a hectic task which not only requires patience but also money and proper techniques. Therefore people often depend upon expert tax professionals for the accomplishment of their reconciliation tasks. Nowadays most of the professionals ignore ITC reconciliation while filing GST returns for their clients’ reasons could be more time consumption or the […]
The Income Tax Department is intending to scrutinize the business of Flipkart and Amazon starting with the details of their top five sellers in India. The motive behind the scrutiny is to check whether these top and most competent online e-commerce portals are obedient to the Goods and Service Tax regime. Alternatively, it appears to […]
Income Tax officials of India spouted off their objection against the new faceless tax assessment programme launched by Prime Minister Narendra Modi to eliminate the corruption & increase the tax collection, a joint letter by tax unions showcases. Delegates of Income Tax Gazetted Officers’ Association & Income Tax Employees Federation wrote a joint letter to […]
Measure to combat the gloomy phase of Indian economy was discussed in the World Economic Forum’s annual India Economic Summit. As per the discussion held in the event, abbreviating just the corporate taxes will not serve the purpose. The growth rate of the Indian economy has declined to 5% in the April-June quarter, which is […]
