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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 […]
The ITR-3 Form can be filed by those Individuals and Hindu Undivided Families who earn income from a Proprietary business or by practising his/her profession. However, when an individual/HUF earns income as a partner of a partnership firm that is carrying out business/profession, he can file an ITR-3. Latest Update File ITR 3 Via Gen […]
A new format for Form 16 has been notified by the CBDT (Central Board of Direct Taxes), which is the ‘salary TDS certificate’. This new format will break down the tax-exempt allowances in detail, which are paid to the employee and apart from this, the entire tax breaks that are claimed by the taxpayers. Salary […]
The Indian government has notified the PDF format for the ITR forms and Form 49(A). As per the Indian government rules, each individual taxpayer must file tax returns on time to avoid any legal penalty. Similarly, for allotment of a permanent account number, Indian citizens/companies/entities are required to fill Form 49A. The current article aims […]
A common GST quiddity has been the increased compliance burden on many small and medium-sized enterprises (SMEs). In this light, the GST Council’s recent decision to allow composition dealers under GST to file one annual return along with a simple declaration is more than just a welcome move.
The Deputy Chief Minister of Bihar, Sushil Kumar Modi, discussed regarding the proposal for raising the GST threshold. He said that this proposal is going to prove as MSME friendly and would provide relief to the particular large section of the Business society which falls under this category.
While speaking at the 12th Global FAD 2018 of ASSOCHAM in Ahmedabad, AIFPA’s president Subodh Jindal warned that the Goods and Services Tax (GST) will ultimately contribute to the death of small businesses in the food-processing sector of India.
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.
The Indian IT (Information technology) Industry has been amongst the ones who were impacted by the last year’s implementation of the goods and services tax.
