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Latest Regulation for Companies Under Form SPICe Plus Spice+ is a new web-based form in place of the Spice Form. To make the company incorporation process easier MCA has deployed a new web-based form spice+ and other registration along with the form. Now the company can apply for EPFO/ESI, and GST numbers as well with […]
Sources from Finance Ministry unveil that the panel is currently stressing on income tax relief for the middle-class Indian residents. The amended norms are likely to get induced in the upcoming Union Budget 2020-21 Budget 2020 may bring good news for the taxpayers by announcing a flat tax rate without exemptions. Finance Minister Nirmala Sitharaman […]
Tax officials have been directed to augment their inspection of tax evasion through the help of Artificial Intelligence and Data Analytics in order to stop the leakages in revenue collection. Their goal is to make a targeted approach to counter the leakages. They want to ensure the process of red-flagging the tax evaders thereby making […]
Income Tax officials of India spouted off their objection against the new faceless tax assessment programme launched by Prime Minister Narendra Modi to eliminate the corruption & increase the tax collection, a joint letter by tax unions showcases. Delegates of Income Tax Gazetted Officers’ Association & Income Tax Employees Federation wrote a joint letter to […]
A company is referred to as a Section 8 Company when registered as a Non-Profit Organization (NPO) i.e. when it has the motive of promoting arts, commerce, education, charity, protection of the environment, sports, science, research, social welfare, religion and intends to use its profits (if any) or other income for promoting these objectives. The […]
The ITR-6 Form for Income Tax Return filing with the IT department of India is meant for only those companies that are not claiming exemption u/s 11 (Income from property held for charitable or religious purposes) New Update in Form ITR 6 Get Demo of Gen IT Software for ITR 6 Form Who Can File […]
As per the report, there has been a reduction in the number of people who file ITR (Income Tax Returns) by 1 per cent in FY 2019 even though the government has tried much to expand the tax base further indicated a deep recession in the overall economy. In 2016, the government took a very […]
The Central Bureau of Investigation (CBI) has witnessed a huge difference in the income tax returns and service tax returns which led them to command the tax officers to dig the situation deeper.
Finance Minister Piyush Goyal on Tuesday said that Concession on tax has been offered to the poor and the middle-class people considering their tight budget.
