Budget 2022: Amend CGST to bring input tax credit under inverted duty refunds For the upcoming Budget, input tax credit and inverted duty structure are the way forward. An important ask in the… 4 years agoJanuary 25, 2022
Common mistakes to avoid in the last days of filing ITR ITR filing after the due date would attract a penalty up to Rs 5000. Another drawback of not filing the… 4 years agoDecember 31, 2021
Fiscal deficit for FY22 may narrow on higher tax collection, says India Ratings India Ratings and Research expects the fiscal deficit for FY22 to be at 6.6% of the GDP, 20 basis points… 4 years agoDecember 31, 2021
Robust tax revenues this fiscal to improve tax-GDP ratio: Revenue secretary Tarun Bajaj The governments’ gross tax collections (after refunds but before devolution) stood at Rs 5.31 lakh crore in Q1FY22, 97% higher… 4 years agoAugust 12, 2021
Retrospective Tax Law: Good riddance to a bad taxation approach The move to defang the 2012 retrospective tax law will boost investor sentiment 4 years agoAugust 9, 2021
Govt proposes to withdraw retrospective tax bill that hounded Vodafone, Cairn for years The amendment to the Income-Tax Act, 1961, which received the President’s assent in May 2012, allowed the government to ask… 4 years agoAugust 5, 2021
GST bonanza for old gold jewellery buyers; now pay tax only on difference between purchasing, selling price When any product is purchased, it is loaded with GST. When a business entity resells the same product after refurbishing,… 4 years agoJuly 17, 2021
Short-Term Capital Gains: New goodwill rule seen imposing tax liabilities on firms Finance Act, 2021, had amended that ‘goodwill’ will no more be regarded as an “intangible asset” and depreciation would be… 4 years agoJuly 8, 2021
Tax Talk: Do shares come under the ambit of ‘goods’? Clarity from the tax department is needed on TDS implications on transactions in unlisted shares and securities 4 years agoJuly 8, 2021
Covid relief: No income tax on financial aid for treatment; exemption to ex-gratia received by kin of deceased It also extended the due date of various compliances, including the last date of linkage of Aadhaar with PAN from… 4 years agoJune 25, 2021
Tax automation: Easing GST compliance and taxation with technology solutions Leveraging Artificial Intelligence, Avalara aims to make a mark in the Indian market by addressing dynamic taxation and accounting needs… 4 years ago
Advance tax collections rise 150% in Q1 on low base The net direct tax collections include corporation tax (CIT) at Rs 74,356 crore and personal income tax (PIT), including security… 4 years agoJune 16, 2021
How India is leading by example with its faceless E-assessment system for income tax The most important aspect of new procedure is coverage of ‘Best judgement assessment’ in faceless Assessment Scheme. 4 years ago
No backdate entries, recovery cases, more return filing, others help tax officers to up GST collection Every taxpayer in India spends a good deal of time and money in undertaking tax compliance and procedures, still the… 4 years ago
System generated returns under GST to accelerate digitization; more GST reforms may boost taxpayer confidence Majorly, at present two returns are required to be filed by every registered taxpayer. GSTR-1 and GSTR-3B. GSTR-1 is a… 4 years ago
REITs in India: How REITs are listed on stock exchanges; check dividend, tax benefits for investors Real Estate Investment Trust (REIT) — the new kid on the Indian bourses — offers an exciting investment opportunity for… 4 years ago
Income Tax Budget 2021 Highlights: What Budget says for home buyers, EPF, ULIP, NRIs, Senior Citizens Budget 2021 Income Tax Slabs and Rates, Income Tax Budget 2021 Announcements Updates: Ahead of the Budget presentation, income tax… 5 years agoFebruary 3, 2021
Budget 2021: Taxpayers eye relief in income tax, slash in TDS, increase in 80C limit, among other reforms Union Budget 2021 India: In the midst of an economic slowdown induced by the ongoing pandemic, the Hon’ble Finance Minister… 5 years agoFebruary 1, 2021
Salaried employees who made money secretly out of office are now in Income Tax trouble – Notices sent
