Union Budget 2024 proposes revised holding periods, increased short-term capital gains tax rates, and uniform long-term capital gains tax rates.
Understand the new GSTR-1A form for amending outward supplies of goods or services in the current tax period. Learn its features, availability, and process.
Understand CGST Act’s Section 16(4) time limits for claiming ITC on RCM supplies from unregistered persons, clarified in SEBI’s Circular No. 211/5/2024-GST.
Discover the major changes recommended by the 53rd GST Council meeting on June 22, 2024, including waivers, monetary limits for appeals, TCS rate reduction, and more.
Hello readers, After a long time, today I will discuss important points to keep in mind before filling out ITR: 1. Firstly, don’t rush to file ITR as the AIS (Annual Information Statement) is not yet fully updated on the Income Tax Portal. Wait until 15th June, as there might be information updated later on. […]
Understand the differences between the new and old tax regimes simplified for FY 2023-24. Learn about tax slab rates, deductions, and which regime may be beneficial for you.
In a significant update to the GST filing process, the GST Council has introduced Tables 14 and 15 in the GSTR-1/IFF form, effective from January 2024. This modification aims to streamline the reporting process for transactions involving e-commerce operators (ECOs) and suppliers operating through them. Here’s a detailed overview of what these new tables entail […]
Amendment in question introduces a new clause, 43(B)(h), under Section 43B, disallowing expenditures incurred with Micro or Small Enterprises if not paid within stipulated time frame.
Learn how Joint Development Agreements (JDA) affect income tax under Section 45(5A) of the Income Tax Act. Understand calculations, gains, and implications.
Explore the simplified clarifications in Circular No. 203/15/2023-GST regarding the place of supply for transportation of goods, advertising services, and co-location services. Stay informed for accurate GST compliance and reporting.
