Section 68 talks about the person in charge of a conveyance carrying any consignment of goods of value exceeding such amount as may be prescribed to carry with him such documents and such devices as may be prescribed....
Press Release No. 578 -
13/04/2023
It is to inform you that it has been decided by the Government to impose a time limit on reporting old invoices on the e-invoice IRP portals for taxpayers with AATO greater than or equal to 100 crores....
Release of Direct Tax Statistics The Central Board of Direct Taxes (CBDT) has been releasing key statistics relating to Direct Tax collections and administration in public domain from time to time. In continuation of its efforts to place more and more information in public domain, the CBDT has further released Time-Series data as updated ...
Goods and Services Tax in India has stepped towards the completion of five years. One of the main objectives of introduction of GST was to create one common market in the country by totally removing the wide disparities and compliance complexities of various laws of taxation of the States and Centre. In taxation of goods […]...
Understanding Section 148A of Income Tax Act, 1961: Notice for Non-Furnishing of Income Tax Return, Report or Statement Section 148A of the Income Tax Act, 1961 is a provision that allows the Assessing Officer (AO) to issue a notice to a person who has failed to furnish a return of income, report or statement of […]...
To doing business or start business with the tag of OPC is now very common these days due to less compliance and easy to establish but when the business start grows, company want to expand its identity with more effective and legally term. Now the OPC company has an option under companies act 2013 to move forward for convert itself, volun...
OPCs are required to file two annual forms, namely MGT 7A and AOC 4, every year. It’s important to understand what these forms are and their respective due dates for OPC Annual Filing....
Recently a spate of notices have been issued by the Income Tax Department directly u/s 148 of the Act, invoking the Explanation-2 to section 148 which provides for exception to the pre assessment procedure of section 148A. We provide herewith our take on how to deal with such notices: The amendment to section 148 to section 151 [&hellip...
The balance sheet is one of the most important financial statements used by businesses to assess their financial health. It provides a snapshot of the company’s financial position at a specific point in time, typically at the end of a reporting period. In this article, we’ll take a closer look at what a balance sheet […...
RBI recently issued Reserve Bank of India (Outsourcing of Information Technology Services) Directions, 2023 on 10th April 2023 and same will come into effect from 01st October 2023. A summary of same is give below – S. No. Requirement Summary Effective Date CHAPTER-1 Para 1 Short Title and Commencement 1 Existing Outsourcing Arrange...