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The Government of India (GOI) has swung into action the faceless income tax assessment and scrutiny, and this would all together transform the relationship between a taxpayer and income tax department and would surely lower down the corruption and tax malfeasance and quicken up the processing. Faceless tax assessment and scrutiny simply construe that now […]
New tax policies are going to be formulated soon for internet titans like Google and Facebook. The new approach would allow revenue based on the purview of a company’s business in a specific market, irrespective of the location of the corporate headquarters. The finance ministers from G-20 countries along with central bank governors are likely […]
The collection of GST (Goods and Services) was the highest in the month of April till now but this sudden increase in the GST revenue is far from the sight of becoming the permanent norm. In April 2019, the GST revenue increased by 10 per cent i.e. INR 1.13 trillion ($16 billion) as compared to […]
As per the report, there has been a reduction in the number of people who file ITR (Income Tax Returns) by 1 per cent in FY 2019 even though the government has tried much to expand the tax base further indicated a deep recession in the overall economy. In 2016, the government took a very […]
The article will give you complete information regarding the key amendments that were made in the e-Way Bill (EWB) generation form. All the registered taxpayers or transporters can get an accurate idea about the latest changes in the e-Way Bill generation form so they don’t have to face any problems while generating the same. Some […]
With the intention to reduce compliance burden, the CBIC has notified the simplified ‘statement for payment of self-assessed tax‘ in Form GST CMP08, to be furnished by composition taxpayers. Relief with the seasoning of benefits and simplification has been provided by the finance ministry to composition scheme taxpayers under the GST, permitting such businesses to […]
“What do you need to start a business? Three simple things: know your product better than anyone, know your customer, and have a burning desire to succeed.” –Dave Thomas, Founder, Wendy’s. In India, thousands of small businesses start every day but within a few days, months or years, they are forced to close their business […]
What is the ITR 4 Sugam Form? ITR stands for Income Tax Return and ITR 4 Sugam Form is for the taxpayers who are filing return under the presumptive income scheme in Section 44AD, Section 44ADA and Section 44AE of the Income Tax (IT) Act. If the turnover of the aforementioned business becomes more than […]
Income Tax Return Filing Filing an income tax return is a responsibility of every citizen of the country and also mandatory for each one of them. Income Tax Return is the form in which an assessee furnishes all his Income and tax details and thereon submit it to the Income Tax Department. Various ITR forms […]
