Union budget of India
All about upcoming Indian Budget 2022
Etymology and definition:
The word budget comes from the Old French word bougette meaning "small leather purse", which in turn is a diminutive of the Gaulish bouge for "leather pouch,...
ITR related Provisions
1) Who all need to file their tax returns?
If your gross total income (excluding deductions) exceeds the basic exemption limit of income above which tax is charged, you need to file ITR.
People spending over ₹2...
Submit Letter of Undertaking (LUT) for FY 2022-23 by 31.03.2022
What does LUT under GST means?
LUT in GST: Full form/meaning is Letter of Undertaking. It is prescribed to be furnished in the form GST RFD 11 under rule 96 A, whereby the exporter declares...
Income Tax Return Due Date Extend for FY 2018-19
Due to the Covid pandemic & to further ease compliances for taxpayers, CBDT extends the due dt for filing of Income Tax Returns for FY 2018-19(AY 2019-20) from 31st July, 2020 to 30th September,...
Highlights of Union Budget 2022-23
Please find below Highlights of Union Budget 2022-23.
General
Paperless Budget. Presented on Tab by the FMEconomic Growth to be 9.2% for FY 2022-23Railways to develop projects for MSME small businessesECLGS Scheme extended till March 2023E-Passports...
Annual Information Statement (26AS)
The Income Tax Department has announced a new statement – AIS (Annual Information Statement). This was earlier known as Form No. 26AS. Originally, Form No. 26AS contained the details of TDS, TCS & Advance...
Income Tax Saving (Deductions on Section 80C , 80D and others)
Deductions Available under Chapter VI of income tax
Chapter VI A of Income Tax Act contains various sub-sections of section 80 that allows an assessee to claim deductions from the gross total income on account of various...
Mandatory to file ITR!
On 21st April Central Board of Direct Tax (CBDT) issued https://www.incometaxindia.gov.in/communications/notification/notification-37-2022.pdf through which Central Government (CG) has introduce Rule 12AB, the Income Tax Rules, 1962 regarding some new conditions for furnishing the Income Tax...
Aadhar Authentication Mandatory for GST Registration w.e.f. August 21, 2020
Notification No. 62/2020 – Central Tax dated August 20, 2020 being issued to bring in change in GST Registration Procedure.
The CBIC vide Notification No. 62/2020 – Central Tax dated August 20, 2020 has made certain amendments in...
