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Due date for filing Income Tax Return u/s 139(1) for the assessee not required to get the books of accounts audited for the Assessment Year 2022-23 should be extended at least up to 31st August, 2022 at earliest.
Goods and Service Tax Network (GSTN) is directed to open common portal for filing concerned forms for availing Transitional Credit through TRAN-1 and TRAN-2 for two months i.e. w.e.f. 01.09.2022 to 31.10.2022.
Whether tax audit is compulsory for a specified professional whose gross receipts from the profession do not exceed Rs. 50 Lakhs but the net profit declared is less than 50% of such gross receipts?
I am a registered person under GST, providing my residential property on rent for residence purpose to a registered person under GST, what would be the GST implications?
Humble Representation for modification of Section 151 of the Income Tax Act relating to Sanction for issue of Notice under sec. 148/148A w.e.f. 1st April, 2021 DIRECT TAXES PROFESSIONALS’ ASSOCIATION Income Tax Building, 3, Govt. Place West, Ground Floor, Kolkata 700001 Ph – 033-22420638 URGENT Ref. No. DTPA/Rep/22-23/ | Dated: 25th July, 2022 To, Smt. […]
Income Tax Calculator in excel for F.Y. 2021-2022 A.Y. 2022-2023 select better option from Old regime vs new regime of taxation u/s 115BAC for Individual & HUF Individual and HUF has to choose any one option out of two options for paying income tax for F.Y. 2021-2022 A.Y. 2022-2023 in India. Option 1 old regime […]
Is there is any requirement of reversal of input tax credit in a case where goods were partially destroyed or sold at reduced price?
Explore the implications of GST on sales to Institutional & Industrial Consumers post 18th July 2022, as per Notification No. 06/2022 Central Tax Rate. Understand the criteria for taxation based on pre-packaging and labeling. Dive into the details of Legal Metrology Act and its impact on taxability. Stay informed about exemptions for industrial and institutional consumers.
The Hon’ble Supreme Court of India in the case of Filco Trade Centres Pvt Ltd on 22 July 2022, has awarded the order in the favour of assessee and ordered the department to provide the facility for all the registered persons to claim transitional credit from 1st September 2022 till 30th October 2022. Some of the […]
Unravel the impact of the latest GST notifications (05/2022) on rent. Understand the applicability, Reverse Charge Mechanism (RCM), and scenarios for GST on residential dwelling rentals. Stay informed about GST liability, ITC claims, and key considerations for individuals and businesses.
