Discover the legal constraints around cash transactions under India’s Income Tax Act. Learn about the various sections that impose limits and penalties on cash dealings.
Discover Mera Bill Mera Adhikar scheme, a GST lottery for taxpayers, rewarding those who demand GST invoices. Learn how to participate and benefit from this initiative.
Explore the complexities of availing Input Tax Credit under GST, akin to a Raksha Bandhan twist. Learn the challenges recipients face and potential remedies.
Understand agriculture income tax rules. Learn about exemptions, deductions, documents required, and taxation on agricultural earnings.
E-invoicing is now mandatory w.e.f 01/08/2023 for all the suppliers, whose aggregate turnover in any of the previous FY starting from 2017-18 exceeds 5 crore. And if the taxpayers whose aggregate turnover exceeds 5 crore in current FY then for them E-invoicing will be applicable from next Financial year.
Article explains various types of income that are disclosed under Annual Information Statement (AIS) as instructed by Income Tax Department
Right now, MSME’s are in a bind, there are lot of suppliers who are not paying MSME’s their dues on time and it’s causing MSME’s a ton of stress. Is there any help available from government to MSME’s ?
Every year, all company taxpayers need to file form MSME-1 by a notification dated 2nd November, 2018 but it holds a huge significance this year as the payments would be disallowed by the Income Act authorities if payment is not made within 45 days.
If Composition taxpayers who has failed to furnish the return in FORM GSTR-4 for the period from July, 2017 to March 2022 and files the return during 1st April, 2023 to 30th June, 2023 then the late fee will be restricted to Rs. 500 per year.
The taxpayers are curious as to what shall be done before this year end to better prepare for the new financial year 2023-24. How should a taxpayer prepare himself for this year’s march ending?
