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Income tax assessees are set to come across certain impediments while selecting the income tax return (ITR) forms to be used for assessment year (AY) 2019-20. However, some sections in the forms have been rationalized and reporting requirements has been increased. Individuals and businesses both are liable to file their ITRs for the income earned in
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Section- 2(13) of the CGST Act defines Audit as the examination of records, returns and other documents maintained or furnished by the registered person under the Act / rules made there under or under any other law for the time being in force to verify the correctness of turnover declared, taxes paid, refund claimed and input tax
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The 29th GST Council meeting chaired by Union finance minister Piyush Goyal was held at New Delhi on the 4th August, 2018. The meeting was aimed to address the issues of the Micro, Small and Medium Enterprises (MSMEs). Key decisions taken by council in the meeting Incentivizing digital transactions Federal indirect tax body the GST Council, keeping
Learn MoreThe Finance Act 2017 introduced last year came with multiple changes in regard with filing of income tax return (“ITR”) for A.Y. 2018-19. Thus, it is necessary for you to keep abreast of the latest amendments at the time filing the current year’s return of income. Also, the CBDT introduced the new ITR forms A.Y
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July 31st is the last day for filing an Income Tax Return (ITR). Most people regard this task as a burden, but filing an ITR filing of Return – on time is an extremely important tool to create your financial history. When you file your tax returns every year, you manage to maintain your financial
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