Query – What is GSTR1A? How and when to file form GSTR 1A?
Answer - A taxpayer who needs to amend any supply record furnished in GSTR 1 or need to add any supply record of same tax period, the same can be…
Query – I filed ITR but on the last page I got to know I am not liable to get any refund and the amount payable is 31,420. Why should I file ITR? Kindly answer it with quoting relevant section under income tax law in india.
Ans - Filing your Income Tax Return (ITR) is mandatory or advisable even if you are not eligible for a refund and have a tax payable of ₹31,420, as it…
Mistake in ‘Disputed Tax’ and ‘Tax Arrears’ Can Be Rectified Under Vivad Se Vishwas Scheme: Delhi High Court
IntroductionThe Delhi High Court recently ruled that errors related to "disputed tax" and "tax arrears" under the Vivad Se Vishwas (VSV) Scheme can be corrected. If a relief was already…
Supreme Court directed to CBDT to take necessary steps for rectifying the software as far as excess surcharge is concern
ITEM NO.30 COURT NO.14 SECTION XIVSUPREM E COURT OF INDIA RECORD OF PROCEEDINGSPetition(s) for Special Leave to Appeal (C) No(s). 10305/2024(Arising out of impugned final judgment and order dated 28-02-2024…
Should You Redeem or Hold? 30 Sovereign Gold Bonds Eligible for Early Exit in 2024-2025
In the next six months, from October 2024 to March 2025, 30 Sovereign Gold Bonds (SGBs) will be eligible for redemption. Some of these bonds can be redeemed early because…
🇮🇳 Happy Independence Day to all my fellow citizens! 🇮🇳
🇮🇳 सभी देशवासियों को स्वतंत्रता दिवस की हार्दिक शुभकामनाएँ! 🇮🇳 आज हम अपने महान राष्ट्र की स्वतंत्रता, एकता और प्रगति की भावना का जश्न मना रहे हैं। आइए हम अपने…
MCA Imposes ₹2.16 Crore Penalty on Stanley Black & Decker for CSR Compliance Failure
The Ministry of Corporate Affairs (MCA) recently imposed a hefty penalty of ₹2.16 crore on Stanley Black & Decker India Private Limited for failing to transfer unspent Corporate Social Responsibility…
Why Your Tax Refund is Delayed and How to Resolve It
Filing your Income Tax Return (ITR) on time is crucial, but receiving your tax refund promptly is not always guaranteed. Various factors can cause delays in the refund process, which…
CBDT relaxes provisions of TDS/TCS in event of death of deductee/collectee, before linkage of PAN and Aadhaar
The Central Board of Direct Taxes (CBDT) has issued Circular No. 8 of 2024 on August 5, 2024, providing relief regarding the provisions of Tax Deducted at Source (TDS) and…
New MSME Support Fund Launched in Union Budget 2024-25 to Address 45-Day Payment Rule Challenges
In the Union Budget 2024-25, Finance Minister Nirmala Sitharaman has addressed the contentious 45-day payment rule that affects micro, small, and medium enterprises (MSMEs). This rule mandates that traders must…