TAX

GST officers have detected 21,791 fake registrations and over Rs 24,000 cr of suspected tax evasion during a 2-month drive from May 16 to July 15, 2023

GST collection crossed the Rs 1.50 lakh crore mark in every month of the current fiscal, says Finance Minister Nirmala Sitharaman

The government has amended the GST law, making it mandatory for overseas online gaming companies to register in India from October 1.

In some cases refunds are held up because the taxpayer has not validated their bank account

Any gift of shares to a certain relative is tax exempt in the hands of the recipient.

The deadline for ITR for the assessment year 2023-24 is here, with over 6.13 crore income tax returns already filed so far

A 4-member appellate tribunal is proposed to be set up in each state to streamline and expedite the dispute resolution process with regard to GST

As per the guidelines, tax officers will have to send a notice under section 143(2) of the I-T Act by June 30 to the assessee regarding discrepancies in income

Income Tax Return: To file your ITR, you will need to gather all the necessary documents and information.

Tax teams in large oganisations, despite their enhanced use of technology in tax, spend a high proportion (around 70 per cent on average) on tax compliance.

Different forms of returns are prescribed for different classes of taxpayers.

Filing ITR is a crucial compliance requirement for individuals and organisations in India.

Income Tax: While presenting the Union Budget on February 1, finance minister Nirmala Sitharaman announced changes in the new regime of personal income tax.

At present the TDS rate on withdrawal of taxable components from Employees’ Provident Fund Scheme in non-PAN cases is 30%.

The GST Council recommends to reduce tax rate on husk of pulses to nil, and on ethyl alcohol to 5 per cent

GST Council is also expected to discuss GoM's report on the taxation of online gaming and casinos