1. You can pay taxes from any location at any time through your net-banking account.2. Instant transfer of funds from your account. 3. What you write on the e-challan will be directly sent to Income Tax Department. Banks will not do any data entry
The E-way Bill System has been introduced nation-wide for inter-State movement of goods with effect from 1st April, 2018 while the States were given the option to choose any date till 3rd June, 2018 for the introduction of the E-way bill system for intra-State supplies. Consequently, all the States have notified the E-way bill system […]
Seeks to further amend notification No. 50/2017-customs dated 30th June 2017, to give effect to serial number 14A and the second proviso to the notification from the 18th day of September, 2018 to delay the implementation of retaliatory duties against US till 18th September, 2018. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification […]
Ashish Gopal Garg has challenged by way of PIL in Supreme Court Circular No. 3/2018 dated 11.07.2018 and Instruction No. F.No.390/Misc./116/2017-JC dated 11.07.2018 issued by CBDT and CBIC respectively, whereby the threshold limit to file appeal at Supreme Court of India, by the government in Direct Tax Cases as well as Indirect Tax Cases, has […]
Advance tax, as the name suggests, is nothing but taxes paid in advance on the estimated annual income. Advance tax, along with tax deducted at source (TDS) and self-assessment tax, constitute the three means by which income taxes are collected by the government.
As per the existing provisions of the Income-tax Act, a deductor is required to furnish a periodical TDS statement (quarterly) containing the details of deduction of tax made during the quarter by the prescribed due dateA substantial number of the deductors are not furnishing their TDS statement within the prescribed due date. Delay in furnishing of TDS statement results in delay in granting of credit of TDS to the deductee and consequently results into delay in issue of refunds to the deductee tax payers or raising of infructuous demand against the deductee tax payers
The provisions regarding the entertainment allowance and its deduction from salary are discussed below – Entertainment allowance as per Section 16(ii) is first included in salary income under the head “Salaries” and thereafter a deduction is given on the basis enumerated in the following points
LIC to acquire controlling stake of IDBI Bank Cabinet approves dilution of Government shareholding below 50% The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved conveying of no objection to reduction in Government of India shareholding in IDBI Bank Limited to below 50% by dilution. It has also approved acquisition of controlling […]
Chartered Accountants Association, Surat has made a representation on recent Inapt amendments in Income Tax Audit Report / From CD for AY 2018-19 vide CBDT Notification No. 33/2018 dated 20th July 2018 which are to come into effect from 20th August 2018. It highlighted following points- 1. Timely Availability of Forms and Utilities 2. Impermissible […]
Discover the classification of Ayurvedic Products by Akansha Hair & Skin Care Herbal Unit Pvt Ltd for GST purposes. Read the full text of the order by the West Bengal Appellate Authority.
