A massive relaxation for taxpayers as ITR Filing Due Date Extended For FY21. As most of us know, taxpayers and professionals have reported several glitches and malfunctions in the new income tax portal since its launch. It’s become essential to extend all upcoming income tax filing due dates. Therefore, the government has now announced the … Read more
To Start a Paper Bag Business in India can be a profitable business for anyone in the long run. There are several reasons for this. The primary reason is that paper bags are a requirement of almost every industry in India. Secondly, the government in India is pushing forward environment-friendly solutions to several problems, including … Read more
All stakeholders must note GST is chargeable on Transfer of Leasehold Rights. As per the latest notification by AAR(Authority for Advance Ruling), GST should be levied while transferring Leasehold rights. Thus it is an important notification as many people aren’t aware about the GST Rate and its applicability on transfer of Leasehold Rights. In this article, … Read more
A piece of good news for insolvency professionals as the central government has increased its powers. Professionals can now verify the income tax returns of bankrupt companies. Furthermore, It is also the duty of professionals to comply with the regulations set forth for certain company tax returns that are governed by income tax (24th Amendment) … Read more
In functional foods, food, special dietary applications, nutraceuticals and health supplements the 2006 FSS Act allows the use of minerals or vitamins or amino acids provided that the quantities do not exceed the Recommended Dieting Amount (RDA) for Indian Consumers. In order to obtain clarification on RDA values of various nutritional products, the FSSAI received … Read more
Businesses around India have had to adapt to a range of changes since implementing the Goods and Services Tax in 2017. A range of various forms, each of which serves a special purpose under the GST system, were also established. One of these forms is GSTR 2 and here, you can get all the details … Read more
Who should file ITR for FY 2020-21 and How to file ITR is are the two most popular questions among taxpayers. Furthermore, many citizens aren’t aware of the benefits of ITR Filing. Thus, In this article, we will discuss important things about ITR Filing that we all must know. What is ITR Filing? The Income … Read more
Good news for taxpayers, as the Income-tax department has launched three new official email addresses. The Income Tax Department launches dedicated emails for taxpayers’ grievances. The government said the decision is intended to further improve services in accordance with the taxpayers’ charter. In this article, we will read about this latest update of new emails … Read more
A piece of very good news for small taxpayers as GST annual return filing is now liberalised. Effective 1 August, the CBIC has liberalised the annual return filing requirement for companies. The CBIC has notified this good news via notification in three official orders. It is an important update, so let us understand it in detail … Read more
A major update and relaxation for taxpayers as CBDT extends due dates for electronic filing of various forms. In other words, considering the problems faced by taxpayers, the Indian government has given a major relaxation for fulfilling compliances under Income-Tax Act, 1961. In this article, we will understand the latest update by CBDT in detail. CBDT … Read more