An income tax return is an assessment of the income of a taxpayer. This is an annual statement. All incomes during the year and deductible expenses and losses are declared in this return. It is mandatory for some taxpayers. But in any case filing, ITR
A chartered accountant is a qualified doctor of the financial health of any organization. He has a fiduciary relationship with the users of financial documents and the stakeholders of the organization. This world is full of many quacks, unprincipled people who impersonate being a
Case Covered: M/s Jindal Pipes Limited Versus The State Of U.P. Order of the Hon’ble Court: Counter affidavit has been filed by the learned Standing Counsel. The same be kept on record. Learned counsel for the petitioner, however, does not wish to file a rejoinder
Most of the salaried people are envious of the self-employed because they receive their salary after deduction of TDS and they can do nothing about it. Today we are going to tell salaried people about legitimate ways to reduce their income tax by fine-tuning
E-commerce is facing a lot of issues in GST. There are unanswered questions related to accounting, compliance, and filing of returns. They have a different setup. They control the sales but don’t sell directly. Thus they play the role of intermediary between the seller and
Circular No. 13/2021 To, All Principal Chief Commissioners/ Chief Commissioners of Customs/ Customs (Preventive), All Principal Chief Commissioners/ Chief Commissioners of Customs & Central tax, All Principal Commissioners/ Commissioners of Customs/ Customs (Preventive), All Principal Commissioners/ Commissioners of Customs & Central tax, Related Topic: 306th
Introduction- New CBIC introduced the ‘Turant – Faceless Assessment’. This is introduced to reduce the manual work. CBIC wants to increase automation. It is one of the measures from many to improve cross-border business. India ranks very low on ease of doing business. It is
Taxation is a complex balance of revenue collection, bringing prosperity and liquidity in the hands of the public and data collection for future government schemes. “Who is the most efficient and optimal use of money, Government or our industrious, resourceful public?” is the permanent and
Case covered: Principal Commissioner of Income Tax Versus M/s Brahma Centre Development Pvt. Ltd. Facts of the case: The above-captioned appeals are directed against the common order dated 18.12.2019, passed by the Income Tax Appellate Tribunal [in short “Tribunal”] in ITA Nos. 4341/Del/2019 and 4342/Del/2019,
Introduction- There is a lot of hue and cry on the performance of Infosys. Earlier GST portal and now income tax one. Both are spoiled by Infosys and are an example of their professional failure. But the government kept levying the penalties on the public
