FAQ’s online ITR Filing of bloggers income. Q1. How do bloggers file taxes? Tax Filing is liable to be paid on income accrue & arise from doing blogging services in India. Most significant benefit of Tax payment on time & filing Income tax return is that only earning you filed on your income tax tax …
GST Council Meet Updates- Tax Rates revision approved What are changers made in 47th 47th GST Council Meeting? Tax Rates On Certain Goods And Services To Be Simplified By GST Council: FM. Following two 47th GST Council Meeting, the Finance Ministry said that the government would increase taxes on some goods and services from the …
The CBEC issue Amendment in GST Rate on Goods wef 18th July, 2022 The CBIC amended the Goods Rate Notification No. 06/2022, dated July 13, 2022 in the following ways in Schedule I – 2.5% S. No. Chapter/ Heading Description of Goods GST rate applicable w.e.f 18.07.2022 65 3006 Pharmaceutical goods specified in Note 4 …
FAQ’s – Parameters for GST Department Notice Q.: The GST department issues notices for return scrutiny depending on a variety of characteristics. Why is the department sending out these notices? Ans: GST Consultants give advice that Officer may analyse the return supplied by the registered person to check the correctness of the return and inform …
GSTR-9 & GSTR-9C for FY 2024-25 Made Simple The GSTN has released updated FAQs and enhanced system features for filing GSTR-9 (Annual Return) and GSTR-9C (Reconciliation Statement) for Fiancial Year 2024-25. This year introduces major improvements in auto-population, ITC reporting logic, import treatment, and reconciliation formats, making compliance more data-driven and tightly linked to GSTR-2B. …
Brief about GST E-Invoicing & it’s applicability. It is mentioned under Rule 48(4) of CGST Act, in which the registered taxpayer companies is mandatory to make invoices, by providing or uploading json file of invoices on IRP (Invoices registration portal) and get an IRN (Invoice Reference Number) which contains a QR code. After going to …
Who can claim deduction U/s 24B of the Income Tax Act? Income tax deduction can be claimed for 2 or more housing loans. The deduction U/s 24B can also be claimed for 2 or more houses. For claiming deduction U/s 24B, Person must be the owner of the house property & also loan should be in …
Limit for GST E-Invoices for Firms dropped to Rs 10 crore Sales as of Oct. 1, 2022 Every registered Businesses who has an annual turnover more than Rs. 10 Crores it is required to send an electronic invoice as of October 1, 2022. Presently for e-invoice is mandatory for the firms with yearly turnover of …
ICAI’s statutory monopoly is proposed to be going end by a parliamentary Panel The report of the Standing Committee on Finance on the bill revising three professions—company secretaries, chartered accountants and cost accountants—has been a blow for all three institutions, particularly the CA Institute, which regulates these professions. Parliamentary Panel, which is led by BJP …
What is means of Crypto currency according to Income Tax provisions ? Crypto currency and Income Tax In the introduction of Budget 2022, the government has announced taxation norms on the same. Key pointers regarding income tax implications on crypto currencies in India are as follows – Crypto currency – Meaning as per Income Tax …