Powerd By SAG INFOTECH
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On January 24, the Supreme Court refused to entertain a Public Interest Litigation contesting the provisions of the Income Tax Act, which impose an obligation on private employers to deduct tax at source (TDS) on the salaries paid by them. A bench including Chief Justice of India Sanjiv Khanna and Justice Sanjay Kumar mentioned that […]
The Goods and Services Tax Network ( GSTN ) in an update to the GST portal has made the functionality to input the negative values in GST return GSTR-3B, permitting the taxpayers to show the precise numbers in the months where there were just the sales return transactions and no sales transactions. The latest update […]
In this article, SAG Infotech explains how the GST Department recovers tax amounts from debtors under Section 79(1)(c) of the CGST Act 2017. Speaker Om Birla cited that the world learns from the tax system of India. Under GST the whole country has to pay the uniform indirect taxes. Before that, each state had its […]
This article discusses the key modifications in TDS Return Form 24Q for all salaried individuals. The government, from October 1, 2024, mandated employers to regard the TDS/TCS deducted on non-salary income when calculating TDS on salary. The motive of this adjustment is to lessen the additional TDS deductions often faced by salaried employees by ensuring […]
The Income Tax Department in an update to the taxpayer has declared the availability of utilities for filing ITR-5, ITR-6, and ITR-7 starting today, January 01, 2025. The process will streamline taxpayers, including firms, companies, trusts, and other entities, in complying with their annual tax filing obligations. The updated utilities will initiate all necessary amendments, […]
An amnesty scheme has been started by the Maharashtra government for interest and penalty waivers for the pending liabilities under GST between FY 2017 and 2020, 2025, Deputy Chief Minister Ajit Pawar announced in the state legislature. March 31 is the deadline to claim the scheme and settle the dues without any other charges. He […]
In this article, we explore the role of Internal Audit and why it’s important for corporate governance and efficient business management. Internal Audit acts as an independent function that regularly checks how a business is running. It helps identify areas for improvement and enhances the overall management of the organization. This process includes assessing risks […]
For entrepreneurs searching to set up a formal enterprise entity, registering a company in India is a significant step. This process not only grants legal recognition to the venture but also unlocks opportunities for growth, investment, and enhanced credibility in a competitive market. Proper registration is key to ensuring compliance with regulatory requirements and safeguarding […]
The Allahabad High Court While deciding a case relating to Input Tax Credit carried that a quasi-judicial body should furnish a chance of hearing to a person before charging obligation on them. The Division Bench comprising Justice Shekhar B. Saraf and Justice Vipin Chandra Dixit carried that as per the doctrine of audi alteram partem […]
