Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
Under the provisions of Section 194C and Section 194J, an individual or HUF is not liable to pay tax if they are not liable to get the tax audited under Section 44AB(a)/44AB(b). So, an individual or HUF need not get the tax deducted from the payment which they made to a contractor or professional for […]
What is NFRA? NFRA stands for “The National Financial Reporting Authority”. This government Authority was constituted on 01st of October 2018, under the provisions of Sub Section (1) of Section 132 of the Companies Act, 2013. The primary reason for the constitution of this entity by the central government in India is to set up […]
It is the moral duty of every organisation and taxpayer to file an income tax return and pay the taxes. The budget 2020 income tax amendments have stated that the ITR is important to be filed in case the electricity bill is more than 1 lakh and more than 2 lakh for foreign travel expenses. […]
BJP government is eyeing on lowering down the GST rate on multimodal transport operators from 12% to 5%, as the Assembly elections are nearing. The government is likely to make recommendations for the same to the Goods and Services Tax (GST) Council. The state is stepping ahead for providing a bundle of concessions to the […]
The 56th GST Council meeting fixed tax rates to align with economic requirements, public demand, and industry needs. Following the meeting, the tax structure was simplified. All goods and services are now tax under a few specific slabs across different categories. These rates are linked to the Harmonised System of Nomenclature (HSN) for uniformity and […]
Government is pressing pedals to curb tax evasion by widening the taxpayer base and by augmenting the class of people for compulsory filing of ITR.According to the official data, the total number of income tax returns (ITRs) filed in 2017-18 is 6.86 crore which registers an elevation of 23 per cent over the last year. […]
The Modi-led government has recently announced that it will sort out all the major issues or glitches in the new GST system, which was also the key reason for the decline in indirect tax revenue. At the time when the GST regime was launched, the government has promised that the full benefits of GST reform […]
There is no need for me to elaborate on the importance of mobile phones in our lives; everyone is well aware of how essential a mobile phone for us. India has the second-largest mobile market in the world. A variety of mobile phones, smartphones, and mobile accessories are sold by micro, small and medium enterprises […]
For the filing of income tax returns, salaried individuals can utilize forms ITR-1 and ITR-2. The individual resident taxpayers with an annual income of up to INR 50 lakh are required to file ITR-1 while the others who do not earn from business or profession will go with the ITR-2 for filing income tax returns. […]
