In the crowded financial hub, where businesses thrive and individuals seek financial stability, the role of an ITR filing consultant is indispensable. Income Tax Return (ITR) filing is a complex and crucial task, requiring expertise and meticulous attention to detail.…
Obstacles Encounter By ITR Filing Consultants
The bustling city of Delhi is also the financial powerhouse of the country wherein the Income Tax Return (ITR) filing consultants play a crucial role in helping individuals and businesses comply with tax regulations. The role of an ITR filing…
Self-Assessment Tax: A short guide
Whether you’re a sole trader, a limited company director, or a freelancer, filing a self-assessment tax can be daunting. It is essential to get ahead of the curve and start sorting the self-assessment tax now. This blog post will offer…
Consequences of ignoring ITR
The Income Tax Return, or ITR, as it’s commonly known, is an official document that you should file every year as per government regulations. While it might seem like another tedious government requirement, filing your ITR is necessary if you…
Tax Audit: What are the benefits generated by it?
The tax audit covers a series of procedures capable of preventing the company from having problems with the Tax Authorities. Understand the importance! Some still believe that tax auditing is not an advantage for organizations. However, this practice can avoid…
The Direct Tax Vivad se Vishwas Act, 2020
India has a very complicated tax structure and even more complicated dispute resolution system. The system gives a tax-payer opportunity to go against the tax department for any grievance via appeals at various levels starting from Commissioner (Appeals) to the…
Restriction on ITC Utilization As Per New Rule 86B
The Central Board of Indirect Taxes and Customs (CBIC) in India has introduced new rule 86B in CGST (Central Goods and Services Tax) Rules vide notification number 94/2020 dated 22.12.2020. The rule 86B became effective from 01.01.2021. As per the…
Ambivalence under GST
There are various topics which can be seen as debatable since the implementation of GST as each one of us have our own set of interpretation therefore such areas are considered to be inconclusive. An effort has been made to…
Relaxations in Income Tax Provisions on account of Covid-19 (post March 2020 ordinance)
Covid-19 has created a havoc worldwide and people are struggling hard to barely survive in this uncertain environment. People are stranded in different parts of the world on account of lockdown, quarantine and suspension of travel both domestic and international.…
Synopsis Of Proposed Changes In GST Act
Addressingto challenges faced by taxpayers, FINMIN has proposed some changes in GST provisions through Finance Bill,2020 which majorly relates to restrictions in respect of availment of input tax credit (referred to as ‘ITC’) and cancellation of voluntary registration. To make…