Direct Tax: Kolkata ITAT allows assessee’s (cooperative bank) appeal against levy of penalty u/s 271FA for delay in furnishing annual information return (‘AIR’) u/s 285BA, accepts assessee's “bonafide ignorance” of relevant… Read More
CORPORATE AND PROFESSIONAL UPDATE AUG 5, 2016 Professional Update For the Day: DIRECT TAX: Assessee having eligible industry and availing deduction under section 80-IB, will not be entitled for same… Read More
GST Comming Soon - One tax One India. In the biggest tax reform in Indian history since Independence, the Goods and Services Tax (GST) Constitutional (One Hundred and Twenty second… Read More
Should You File Tax Return Even Without Taxable Income? As the last day of filing income tax returns is coming near, it’s finally time for taxpayers to do what they… Read More
The Goods and Services Tax (GST) What's the GST Registration System? Under the GST regime, business owners whose turnover exceeds Rs. 40 lakhs* (Rs. 10 lakhs for NE and… Read More
Submit ITR for AY 2023-24 on time/face a penalty Fee of Rs 10,000 CBDT made 2-time Penalty for Missing ITR Due Date this Year Moreover, in the Budget Exemptions to… Read More
Get your Income Tax Return Filled by 31 July How to file Income Tax Return? This was the most common question in the comments section of my post on the… Read More
PROPOSED CONSTITUTIONAL AMENDMENT BILL FOR GOODS AND SERVICES TAX (GST) On Tuesday, the State Finance Ministers panel failed in reaching consent which would enable the government to have the Constitutional… Read More
The Cabinet today approved the amendments to the Goods and Services Constitutional Act. The GST bill, intends to convert 29 states into a single market through a new indirect… Read More
Govt has levied a new tax called "Equalisation Levy" w.e.f. 1 June, 2016 Equalisation Levy – Is it a beginning of a new saga? Government of India has levied a… Read More