Indirect Tax Updates: Manner of utilization of input tax credit under GST law is in highlights since past few months, before GST. Act, 2018(w.e.f. 1st Feb, 2019) the entire provisions… Read More
Indirect Tax Updates: The newly inserted rule 88A in the CGST Rules allows utilization of input tax credit of IGST towards the payment of CGST and SGST, or as the… Read More
Direct Tax Updates: The Central Board of Direct Taxes (CBDT) has directed the Income-Tax Department to initiate penalty proceedings by June 30 against non-filers and ‘drop filers’ of tax returns. According… Read More
Direct Tax Updates: CBDT has directed the Income-Tax Department to initiate penalty proceedings by June 30 against non-filers and ‘drop filers’ of tax returns. According to the non-filer monitoring system… Read More
Direct Tax Updates: CBDT has notified changes in Form 16, the certificate issued by employers for tax deducted at source (TDS) for salaried employees, seeking disclosure of more details, especially… Read More
Direct Tax Updates: The Income Tax department has revised Form 16 by adding various details, including income from house property and remuneration received from other employers, thereby making it more… Read More
Indirect Tax Updates: India’s recent economic history offers enough evidence to show that tax revenues can be raised even without a rampaging tax bureaucracy or ad-hoc measures such as demonetization. India’s… Read More
Direct Tax Updates: Income tax department, and the collection of data, based on Permanent Account Numbers, the tax authorities have been moving to a system of verification of such information, and… Read More
Direct Tax: Income Tax Department will initiate the recovery of tax along with a penalty from approximately 65,000 assessees who deposited Rs.10 lakh or more in their bank account during… Read More
Direct Tax Updates: The disclosure requirement in the income tax return (ITR) forms have been rising in recent years as the income-tax (I-T) department has been using technology extensively to track… Read More