The Ministry of Finance has disclosed the remarkable performance of India’s direct tax collections for the Financial Year (FY) 2023-24, reflecting robust economic activity and… Read More »Direct Tax Collection FY 2023-24
Section 54 of Income Tax Act provides provisions for claiming an exemption on capital gains arising from the sale of a residential house property. Exemption… Read More »Sec 54 of Income Tax Act
For small taxpayers, the Income-tax Act, 1961 has framed presumptive taxation schemes as given below: Section 44AD : Computation of income on estimated basis in… Read More »Presumptive Taxation
Declaration for Reversal of ITC Under GST FAQs> Form GST ITC-03 1. What is Form GST ITC-03? Form GST ITC-03 is to be filled up… Read More »Declaration for Reversal of ITC Under GST
FAQs > Utilization of Electronic Cash and Input Tax Credit (ITC) Ledger 1. I was trying to make payment of the tax and was trying… Read More »Utilization of Electronic Cash and Input Tax Credit Under GST
The pre-filling and filing of ITR-1 service is available to registered users on the e-Filing portal. This service enables individual taxpayers to file ITR-1 either online through the… Read More »ITR-1- Guide To File Income Tax Return
E-Way bill system is for GST registered person / enrolled transporter for generating the way bill (a document to be carried by the person in… Read More »E-Way Bill System Under GST
FAQs > Filing an Appeal against Demand Order (FORM GST APL-01) Click on the link for Manual > Filing an Appeal against Demand Order… Read More »Steps To Appeal Against Demand Order Under GST
The tax deduction from rent payments is mandated by section 194IB of the Income-tax Act. Section 194-IB provides for a tax deduction by specified Individuals or HUFs… Read More »Section 194 IB- TDS on Rent
The tax deduction from rent payments is mandated by section 194-I of the Income-tax Act. Section 194-I provides for the deduction of tax by any person… Read More »Section 194I- TDS on Rent