Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
Tax and India are slowly but surely arriving at reconciliation terms. This is echoed in a recent statement made by a government official.
Among the many changes and improvements the GST system brought to the Indian economy, a major increase has been reported in the direct tax revenues and corporate tax collection in the post-GST era.
The Income Tax department has updated a form to fill with information regarding the general anti-avoidance rules (GAAR), the goods and services tax (GST), and secondary adjustments.
GST Network is putting efforts towards establishing a system which can assist the government to take action against the tax evaders and the persons who do not file returns.
If you fail to file your ITR within the next 10 days for some reason or another, expect a compliance notice to land at your doorstep any time soon. And in case the notice does show up, this blog will surely go a long way in helping you to answer the compliance notice.
Now it’s time to file Income Tax Return (ITR) i.e. 31st July 2018. Taxpayers who are about to file the tax return on time will get to see the sudden surge of compliance.
Income tax return filing is easy and beneficial for an overall financial and records maintenance for future loan perspective and investment purposes.
As per a message recently tweeted by the Ministry of Finance, the net direct tax (income tax, etc) amount collected for the financial year 2017-18 is over Rs 10.03 lakh crore, with a year on year growth of 18%, which is the highest in the past 7 years.
Paying income tax is the responsibility of salaried taxpayers in order to avoid the IT-Department follow. But, many taxpayers find some ways through which they can hide their original taxable income and pay fewer taxes.
