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Why Should Revise Personal Income Tax Rate?

Most-important Reasons to Revise Income Tax Rates for Individuals

The upcoming budget is expected with the hope that the taxes would be exempted particularly for the salaried people. Budget 2022-23 is coming at a difficult time as the Omicron has disrupted the calculations during the time when the economy is going to recover. Affecting from the covid variant the countries are forced to shut […]

Must File GSTR 1 on Time from 2022

Timely e-File GSTR 1 Form from 2022 to Avoid GST Litigation

What is the Amendment Circulated via Govt in Filing GSTR-1 & 3B from 1st Jan 2022? Earlier taxpayers (Supplier) were unable to furnish GSTR-1 or practice the IFF on the GST portal if they had due GSTR-3B filings for the past two months (monthly filer) or for the last quarter (quarterly filer) as per CGST […]

GST on Electricity via NTPC Report

More Than INR 5,000Cr Loss If 5% GST Levy on Electricity

A proposal to draw the electricity under the GST regime will make a loss of Rs 5780 cr towards both centre and state. In the report, a 5% GST rate would be recommended for electricity. In the case when all the current electricity duties are included in GST the losses surge to Rs 59000 cr […]

Issues for Not Choosing New Tax Regime

Big Reason, Why Few Taxpayers Are Selecting New Tax Regime?

Beneath the policy, those assessees who opted for the newer or another tax regime that is presented in budget 2020 AY 2021-22 the initial time on which they needed to furnish the returns. Towards the concern, the salaried assessee poses an option to switch between the 2 tax regimes during the ITR filing. The current […]

CBDT Amendment for Faceless Appeal Scheme 2021

CBDT Revises Faceless Appeal Scheme 2021 for Personal Video Hearings

The faceless appeal scheme has been revised by the Central Board of Direct Taxes ( CBDT). Whenever the taxpayer makes a request, then a personal hearing through video conferencing / telephony will be applicable in all circumstances. These are the key changes that have been made this time. Another issue that has been looked at […]

GST Taxman's Lens Over Food Discounts from 2022

GST: Food Discounts May Come Under Radar of Taxman’s Scrutiny from 2022

Under the GST regime, the coupon discounts furnished via food delivery platforms engaging with Zomato & Swiggy need to face the taxman’s investigation starting from Jan 2022. The problem is about the discounts provided via delivery apps with respect to the specific credit card, debit card, or digital wallet towards doing the payments. People just […]

GSTR 9 and 9C Revised Due Dates

Due Date Extended for GSTR 9 & GSTR 9C FY 2020-21 (28th Feb 2022)

GSTR 9 and GSTR 9C Forms Due Date Extended Finally, GSTR 9 and 9C Due Date Extended by Government Over Multiple Request. The annual return form GSTR 9 and the reconciliation statement i.e. self-certified statement forms GSTR 9C for the FY 2020-21 due date have been extended finally by the government in order to justify […]

Expectations for GST Amendments in 2022

More GST Amendments to Crumble Down Issues in 2022 for Taxpayers

The Indian economy is likely to recover from the pandemic. Some decisions have been opted by the GST regime. For example, the same proceeded towards the electronic compliance mechanism, electronic dissemination of notices, and avoidance of a physical interface. But on the rationalization of tax rates, procedural amendments under GST, availability of exemptions and availability […]

Full Guide of Tax Filing Software

All About Tax Filing Software With Process and Features

What is a Tax Filing Software? Tax filing software is an end tool to file the tax data on the official government portal which in turn is necessary to fulfil the compliance as per the government. What are the Different Kinds of Tax Filing Software? Every business requires comprehensive best filing software that would make […]

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