Once you file Form GSTR-1 and provide Export details (Table 6A) along with Shipping bill details having Integrated Tax and Cess levied and also file Form GSTR-3B of the relevant tax period for which refund has to be paid, you are eligible to receive refund on account...
Section 154 of the Income Tax Act, 1961 - Allows assessee to file rectification request of errors apparent on the face of the record in their income tax orders. The Income Tax Department has enhanced its online portal to enable assessee to file rectification...
Understanding the taxation of expatriate employees in India is crucial for both individuals and businesses. Navigating the complex tax laws can be daunting, but it’s essential for compliance and financial planning. Now in this blog, we will discuss the taxation rules...
Introduction Navigating the complexities of income tax in India can be daunting, especially with the introduction of the new tax regime. As a taxpayer, deciding between the new tax regime and the existing old regime can significantly impact your financial planning and...
There are much more hypes and talks about cryptocurrencies which is also called as the virtual digital currencies. Some countries are favouring it, calling it a revolution in global economy and the other (like India) are not finding it appropriate.Nevertheless,...
Living far away from home doesn't lessen the connection for Non-Resident Indians (NRIs). It's a mix of pride and responsibility. But besides the emotional ties, NRIs deal with tricky financial and legal duties, with taxation being a major player. Sorting through...
Introduction: Filing your income tax return (ITR) accurately is a vital financial responsibility that individuals and businesses must fulfill. Accurate ITR filing not only ensures compliance with the law but also offers numerous benefits such as avoiding penalties,...
The Finance Bill 2022 has proposed two completely new TDS sections, 194R and 194S, in the Income Tax Act, to be made effective from 1.7.2022. Looking at the swift pace, with which the new TDS sections, are being inserted by the Legislature, year after year, in Chapter...
Filing of Updated Income Tax Return Finally, provision of filing an updated income tax return has been introduced in Income Tax with effect from 01.04.2022. An assessee, whether he has filed or not, an income tax return (whether it be the original return, the belated...
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