GSTN Advisory on IFF or GSTR-1 New 14 & 15 tables The GSTN Advisory on Invoice Furnishing Facility or GSTR-1 : Update on introduction of New 14 & 15 tables This GST Advisory provides clarification on disclosure in cases such as: ✅ Where Supplier is GST Registered, but recipient is not ✅ Where Supplier & …
MSME Payment Deductions & Union Budget 2023: Demystifying Sec 43B Income tax Sec 43B is a new income tax provision governing the deduction of certain amount sums when we are computing income tax liability. This change holds particular importance when it comes to payments made to MSMEs. New Income tax Alert Income tax Section 43B- …
Complete Explanation of Section 16(4) of Central Goods and Services Act, 2017 : Section 16(4) of the Central Goods and Services Act, 2017, pertains to basic conditions & eligibility of taking ITC. ITC allows businesses to claim a set-off on the goods and services taxes, which is paid on inputs used during the normal course …
Last Date to File Revised or Belated ITR for AY 2023-24 31/12/2023 is the Last Due-Date to File Revised or Belated Income Tax Return (ITR) for Assessment Year 2023-24 (Financial Year 2022-23) Late Filing fee for Belated Income Tax Return No Late Filling Fee if GTI (Gross Total Income) upto INR 2,50,000 Late Filling Fee …
Section 194C : TDS on car hire charges Tax Deducted at Source to be deducted on payment made on car hire. Tax Deducted at Source on car hire charges is needed to be deducted u/s 194C. When a person makes a payment to contractor on a contract, Business owner has to deduct Tax Deducted at Source on such payment made …
What is GST Form DRC-01A? GST Form DRC-01A is an kind of formal intimation form used by the GST dept in India to inform GST Taxpayers about any goods and Services tax, interest, or penalty section 73(1) or 74 of the CGST Act that has been ascertained as payable by them. GST Form DRC-01A is …
LIMITED LIABILITY PARTNERSHIP (SIGNIFICANT BENEFICIAL OWNERS) RULES, 2023 Ministry of Corporate Affairs issued a Notification vide notification no. G.S.R. 832(E) regarding Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023 on 9th Nov 2023, requiring Limited Liability Partnership to identify & Report details of Significant Beneficial Owner to Ministry of Corporate Affairs. A. LIMITED LIABILITY PARTNERSHIP …
All about the Limits & penalties related to Cash Transactions Specified Cash Transactions Limits: In recent times, the Income Tax Dept. released an E-Flyer detailing the cash transaction limitations and emphasizing the severe consequences connected to specific kinds of cash transactions. The Tax Department strongly advises taxpayers and business professionals to stay away from cash …
Reserve Bank of India Update: Withdrawal of ₹2000 Denomination Banknotes – As on May 19, 2023, Reserve Bank of India said more than 97% of Rs. 2,000 denomination banknotes in circulation have been returned by 31st October, 2023, Even as balance Rs. 2,000 Banknotes in circulation continue to be legal tender. Reserve Bank of India, …
