Amendments in Income Tax Return Form 6 applicable to companies: New ITR forms For the AY 2024–2025, I-T return forms 2, 3, and 5 are now available for filing tax… Read More
Important Concept under Income tax Act - Concept of Previous Year & Assessment Year The financial year that ended just before the assessment year is referred to as the previous year.… Read More
Changes introduced in ITR Forms for AY 2024-25 Why do Income Tax Return Forms have AY’s? ITR forms include an AY since the revenue for a certain FY is computed… Read More
MCA via Notification operationalises of CPC Centre in Manesar for processing of ROC e-forms The Ministry of Corporate Affairs through Notification has announced the establishment of a CPC at IICA, Plot… Read More
Gross Direct Tax collections for Financial Year 2023-24 upto 10.02.2024 The Finance Ministry has made available the direct tax collecting results. As of February 10, 2024, the provisional figures demonstrate… Read More
GST Advisory on Payment via Credit card or Debit Card & UPI w.e.f. 19/01/2024 To facilitate the GST taxpayer registered under Goods & Services Tax with more methods of payment,… Read More
Legal Provision of Section 43B(h) of the Income Tax law. What is come under the definition of Small Enterprises? Business Enterprise which is completed all below conditions. (a) Sale/ Turnover… Read More
CBDT : Allowed HRA Exemption 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… Read More
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… Read More
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… Read More