"03 November 2023" Archive

Period of limitation prescribed under Income-tax Act, 1961

The Income-tax Act has prescribed time limit in respect of various procedures, applications, etc. (like time limit for filing an appeal to the Commissioner of Income-tax (Appeals), deposit of tax on distributed profits of domestic companies, filing return of income, filing belated return of income, etc.). In this part you can gain knowled...

Posted Under: Income Tax |

SC’s Landmark Judgment: A Pivotal Step Towards Eradicating Manual Scavenging

In a historical and groundbreaking judgment delivered on October 20, 2023, the Supreme Court of India issued 14 pivotal directives aimed at completely eradicating the deplorable practice of manual scavenging....

Posted Under: Income Tax |

Guidelines for Insurance Sector’s Participation in Account Aggregator Framework

Circular No. Ref. No: IRDAI/I&AT/CIR/MISC/194/11/2023  03/11/2023

Get insights into IRDAI's latest circular on insurance sector's participation in Account Aggregator framework. Understand guidelines, regulations, and compliance details...

Amnesty Scheme for filing of appeals under GST: A Welcome Wiggle Room

Discover the different Amnesty Scheme options for filing appeals under GST. Get the details on filing an appeal with the Appellate Authority and the grace period of one month for sufficient cause....

Posted Under: Income Tax |

Format of Power of Attorney – Bank Account Operate Access

Explore a comprehensive format for a Bank Account Power of Attorney. Learn how to authorize a Constituted Attorney for managing and operating your account...

Posted Under: Income Tax |

Govt notifies Amnesty Scheme for Condoning Delay in Filing GST Appeals

Central Govt notifies Amnesty Scheme for Condoning Delay in Filing Appeals; File your Appeals before 31st January 2024 vide Notification No. 53/2023– Central Tax Dated: 2nd November, 2023. 1. The 52nd GST Council came out with an amnesty scheme, giving taxpayers time till January 31, 2024, to file appeals against demand orders passed ...

Posted Under: Income Tax |

Approved Gratuity Trust: Benefits, Formation and Compliance

Learn about Approved Gratuity Trust, its formation, tax benefits, and compliance requirements. Discover the advantages of managing gratuity through a trust....

Posted Under: Income Tax |

Gratuity: Meaning, Calculation, Applicability and Taxation

Discover the basics of gratuity, its meaning, calculation, applicability, and taxation rules. Learn how to calculate gratuity and its legal implications....

Posted Under: Income Tax |

Key Considerations for Choosing the Right Business Loan

When it comes to fueling your business growth or overcoming financial challenges, securing a business loan can be a strategic move. However, choosing the right business loan is a critical decision that can significantly influence the success of your enterprise....

Posted Under: Income Tax |

Car Insurance Renewal: 5 Tips to Lock in the Lowest Rates

As you approach your car insurance renewal, your quest to secure the most budget-friendly rates is sensible and achievable. No one relishes overpaying for insurance, and there are strategic steps you can take to make sure you get the best possible deal when renewing your car insurance....

Posted Under: Income Tax |

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December 2023