The deadline to file your income tax return for the fiscal year 2021-22 (the assessment year 2022-23) has gone. In…
Do you get income tax refunds? Save your deduction evidence or face a 200% penalty
Taxpayers are receiving automated online notifications from the Income Tax Department if extra deductions are claimed in the Income Tax…
Will the government impose a 28% flat tax on casinos, internet gambling, and horse racing?
According to government sources, a panel of state finance ministers on casino and internet gambling taxation would likely deliver its…
GST (Tax) on Rentals? Registered tenants must pay an 18% tax on their house rent
According to the new GST laws that went into effect on July 18, a renter who is registered with the…
How much TDS should be deducted when buying a property from an NRI?
If you buy real estate from a Non-Resident Indian (NRI), you must deduct tax (TDS) under Section 195 of the…
The Centre explains the taxation of several items: Ice cream parlours are subject to an 18% GST
As part of a full clarification of the tax duty on a variety of products and services, the Central Board…
A Significant Change in Income Tax Return Verification Rules
Beginning August 1, the Income Tax Department has lowered the time limit for e-verification or hard copy submission of the…
GST: CBIC drops the mandatory e-invoice requirement for businesses with a turnover of Rs. 20 crore to Rs. 10 crore
Having effect from October 1, the Central Board of Indirect Taxes and Customs (CBIC) has made E-invoicing mandatory for enterprises…