The Finance Minister extended the time limits for the electronic submission of different forms covered in the 1961 Income Tax Act. The reason for extending the Deadline for filing various forms under the Income Tax Act is that several taxpayers reported issues in the New Income Tax Portal. In this article, you will learn about … Read more
The tobacco industry in India wants tax incentives to assist boost exports. As we all know, there’s a decreasing export base due to an increase in competition from smaller nations. Therefore, Indian Tobacco seeks 5% tax relief. The Indian Tobacco Association (ITA) which accounts for 90%-95% of the export of tobacco has requested that the … Read more
Good news for taxpayers amid COVID-19 as the Finance Ministry extends the last date for availing the GST Amnesty Scheme. After a long wait and a delay in GST return filing caused by complexity in GST return filing compliances, GST Council capped the late fees on GST return filing in the 43rd GST Council Meeting. … Read more
The ISO group examines the temple during the Covid 19 pandemic or studies the execution of Coronavirus protocol. The article gives you all the information regarding the Srisailam temple receives ISO Certification. Srisailam temple receives ISO Certification. Sri Bhramaramba Mallikarjuna Swamy Varla at Srisailam has got an ISO certificate for taking efficient preventive measures during … Read more
The GSTR8 is a statement or document that should file e-commerce workers (persons who construct and run online markets that enable another retailer to sell their goods to clientele) monthly. It should have the information of provisions made to clients throughout the taxpayer’s e-commerce portal by unregistered people or registered chargeable people, client’s basic details, … Read more
As per the latest news, Finance Minister Sitharaman gives an ultimatum to Infosys. As we all know, the Ministry of Finance launched a new income tax portal on June 7, 2021, collaborating with Infosys. However, ever since it was launched, several taxpayers and professionals reported many issues in the portal. It’s almost the end of … Read more
According to a press release, the family pension, which was previously solely payable in the event of death. Due to an occupational accident, has now been expanded to include death due to Covid-19. As a result, the employee’s family members will be eligible for a family pension equal to 90% of the dead employee’s average … Read more
All stakeholders must note GST is chargeable on Transfer of Leasehold Rights. As per the latest notification by AAR(Authority for Advance Ruling), GST should be levied while transferring Leasehold rights. Thus it is an important notification as many people aren’t aware about the GST Rate and its applicability on transfer of Leasehold Rights. In this article, … Read more
The AAR Gujarat has a new update for Lassi Businesses. The update is that Lassi is exempt from GST. AAR(Authority for Advance Ruling) Gujarat clearly states that Lassi is exempt from GST when a Valsad-based manufacturer and supplier of the product approached it for the applicable GST rate. In this article, we will understand this … Read more
A piece of good news for insolvency professionals as the central government has increased its powers. Professionals can now verify the income tax returns of bankrupt companies. Furthermore, It is also the duty of professionals to comply with the regulations set forth for certain company tax returns that are governed by income tax (24th Amendment) … Read more