CBDT : Allowed HRA exemption for those who pay rent to their parents, spouses/family Members For individuals that pay rent and live in rented housing, the Income Tax Act of 1961 provides the House Rent Allowance (HRA) as a way to reduce taxes. This clause also applies for individuals who rent to their parents, spouses, …
Taxpayers who falsely claimed for a HRA allowance received income tax notices. Income Tax Notices: By sending notices, the Income Tax Department is pursuing hundreds of individuals who have claimed housing allowance. Some individuals also receive heavy penalties as punishment. The action plan has started to be carried out by the income tax department in …
Food delivery app will not to get ITC on New GST regime w.e.f 1 Jan 2024 E-commerce Operators in food delivery not to get input tax credit under new Goods and Services Tax regime from January 1, Food delivery apps to collect tax, deposit on behalf of restaurants with the government GST dept. received representation …
Very Important Update Related to ITRs from AY 2023-24- Tax Dept issue on FAQ related to Discard ITR The Income Tax Department portal now features a “Discard ITR” option for unverified Income Tax Returns (ITRs), applicable for belated, original, or revised ITRs under sections 139(1), 139(4), and 139(5) starting from Assessment Year (AY) 2023-24. ‘Discard …
CBDT Update that a record of 8.18 Cr ITR have been file till 31 Dec 2023 Unique landmark for the Income-tax Department! The Central Board of Direct Taxes update that A record of 8.18 Cr Income Tax returns have been submitted until 31 Dec 2023 this Financial Year against 7.51 Cr Income Tax returns (I-T) …
E-Waybill issue will not be permissible without e-Invoice details E-Waybill issue will not be permissible without e-Invoice details entered in it with effect from 1st March 2024. and moreover that New Harmonized System of Nomenclature Code conditions for E-Way Bills effective from 1st Feb, 2024: Six Digits for Aggregate Annual Turnover (AATO) under GST > …
Registrar of Companies Timeline Compliance Calendar Financial Year Following is the Registrar of Companies Compliance Calendar for Financial Year 2023-24. Form Compliance Period Due Date MSME-01 Form for furnishing half yearly return with the registrar in respect of outstanding payments to Micro or Small Enterprises 1st October 2023 to 31st March 2024 30th April …