Statutory Compliance Calendar – December 2024 The taxpayer must ensure the 3rd installment is paid on time to avoid interest under Sections 234B and 234C. Annual GST Returns: Start reconciling data for GSTR-9 and GSTR-9C early to avoid last-minute errors or delays. Tax compliance is essential for all taxpayers in India to ensure adherence …
Exploring Corporate Bonds in India – A Comprehensive Guide Corporate bonds in India represent a compelling investment option, offering a blend of potential rewards and manageable risks. Issued by both private companies and public sector undertakings (PSUs), these bonds diversify an investor’s portfolio and potentially offer higher returns than traditional fixed-income assets. This blog will …
Statutory Compliance Calendar 2023-24 Statutory Compliance Due date for the May 2024 Income Tax and GST Due Date Calendar of June 2024
Tax & Statutory Compliance Calendar for November 2023 S. No. Statue Purpose Compliance Period Timeline Compliance Details 1 Income Tax Tax Deducted at Source / Tax Collected at Source Liability Deposit October 2023 7- November 2023 Timeline of depositing Tax Deducted at Source / Tax Collected at Source liabilities under Income Tax Act, 1961 for …
New Corporate & Professional Update: KEY PRACTICAL TAKEAWAYS: Income Tax: CBDT has issued Circular No. 12/2020 dated 20.05.2020 in order to exempt B2B suppliers with 95% or more receipts through non-cash mode to not maintain prescribed payment modes as per Section 269SU such as POS, UPI, UPI-QR, etc. Note-These assesses can disable these facilities if …
Important Relevant updates on the reduction of compliance obligation under the Atmanirbhar Scheme: TODAY ‘S FIFTH AND LAST TRANCH OF ANNOUNCEMENTS FOCUS ON 8 SECTORS: 1. MGNREGA Scheme Total budget was Rs 61,000 crores The extra Rs 40,000 crores allotted 2. HEALTH’s Setting up the public system Block all districts to avoid infectious diseases Public …
Direct Tax – Income Tax Update: The Income Tax Department has set deadlines of 30.06.2020 for investment in tax savings schemes for the financial year 2019-20. Taking advantage of the expanded due date and make savings accordingly. Income Tax Department has notified that outstanding income tax refunds of INR 5,204 crores have been paid to …
Direct Tax Updates: ITAT dismisses Revenue’s appeal, upholds CIT(A)’s order directing AO/TPO to re-compute TP-adjustment only with regard to international transactions for AY 2008-09; Relies on co-ordinate bench ruling in assessee’s own case for AYs 2004-05 and 2006-07 wherein assessee’s contention that TP-adjustment should be restricted only to international transactions was accepted. Also notes that …
Direct Tax Updates: CBDT member Akilesh Ranjan, is arguing for a new tax regime for individuals. It has proposed dramatic changes to the Income Tax Act, which dates back 58 years. People earning between Rs 5 lakh and Rs 10 lakh per year may have to pay 10% income tax. Central Board of Direct Taxes …