In the era of the digital economy, a large segment of India’s workforce has transitioned into freelancing across domains such as IT services, content creation, consultancy, digital marketing, and online tutoring. However, many freelancers are unaware of their statutory responsibilities under Indian tax laws, particularly the Goods and Services Tax (GST) regime.
Learn how to file LUT under GST for export of services, comply with Rule 96A conditions, and avoid tax liabilities. Essential guide for exporters on zero-rated supply.
Understand why an income-tax penalty under Section 271(1)(c) is invalid if the charge isn’t specified as concealment or inaccurate particulars. Learn legal precedents and appeal strategies.
Learn how taxpayers can defer income tax penalty proceedings when quantum additions are under appeal. Understand legal grounds and precedents for abeyance to avoid premature penalties.
Comparison of ITR-U (Section 139(8A)) and Condonation of Delay of ITR (Section 119(2)(b)) Introduction The Income Tax Act, 1961, provides different mechanisms for taxpayers to address missed deadlines for filing Income Tax Returns (ITR). Two key provisions in this regard are: ITR-U (Section 139(8A)) – Allows taxpayers to update their returns by paying additional tax. […]
The Updated Income Tax Return (ITR-U) is a recent provision introduced under Section 139(8A) of the Income Tax Act, 1961. This provision gives taxpayers an opportunity to correct errors or omissions in their previously filed returns, even after the prescribed deadlines have passed.
CBIC offers a waiver of late fees for delayed GSTR-9C filings from FY 2017-18 to 2022-23. Act now to avoid penalties. Learn about GSTR-9 and GSTR-9C requirements.
Learn about condonation of delay in filing ITR under Section 119(2)(b), conditions, timelines, application methods, and practical scenarios to ensure claims are not lost.
Explore the Vivad Se Vishwas Scheme 2024 for resolving tax disputes, eligibility, payment terms, and deadlines under Circular No. 12 of 2024.
New Application for Condonation of Delay in Filing Forms 9A, 10, 10B, and 10BB Post 18th November 2024 as per Circular No. 16/2024-Income Tax In certain instances, due to unforeseen circumstances, the assessee or auditor may file the audit report for the trust in Forms 9A, 10, 10B, or 10BB after the due date. As […]
