Consequences of defective income tax return: The mere mention of an Income Tax Notice rings an alarm bell for many…
Advance tax receipts increased by 22% in Q2: Report
In the second quarter of the current fiscal year, the Center’s advance direct tax collections increased by roughly 22% year…
Are you moonlighting to supplement your income? Do Consider Taxation
Moonlighting has recently gained popularity. IT behemoths like Infosys, TCS, and Wipro have informed their staff that variable compensation will…
Can you receive the new tax regime advantage when filing late income tax returns?
If you scheduled your taxes for the new tax system but failed to file your income tax returns (ITR) by…
Due to increased economic activity and consumption, Delhi’s GST collection increased 21% year on year to Rs 4,349 crore in August
The Delhi government saw an increase in GST revenue in the first quarter of FY23. The state’s GST income rose…
Is it necessary to pay advance tax before September 15? Here is all you need to know
The concept of advance tax is based on pay-as-you-earn, which implies that the tax must be paid in advance in…
CBIC Issues Circular Regarding the Reopening of the Transitional ITC Claims Window
Following the Supreme Court’s judgment, the Central Board of Indirect Taxes and Customs (CBIC) issued a circular reopening the window…
NIC launches a new facility as the e-way bill becomes mandatory for gold
The National Informatics Center (NIC) posted an update on the e-way bill webpage on September 12, 2022, about the creation…
TDS and TCS: Do you have Complete Control Over Your Company’s Tax Credits?
Organizations frequently risk losing tax credits (i.e., TDS and TCS) owing to a lack of regular reconciliation between books of…
Businesses will be able to claim pre-GST tax credits beginning October 1
Businesses that were unable to claim tax credits for taxes paid before the implementation of the goods and services tax…