Krishna, everyone around the nation enjoyed a lot on the day of Makar Sankranti, flying high their kites and cutting the ones of their friends and others. From children to elderly, everyone was seen having fun flying their Kites. Krishna, how high do you think the Taxpayers Kite will fly this year?
RBI launched Digital rupee and it is considered as a mean to implement monetary policies to provide stability, control growth, and influence inflation.
Taxpayers are hopeful that the coming Financial Budget will provide them with increased benefits and incentives under Income Tax for the New Year 2023.
Last Month, Last Chance to file ITR of FY 2021-22 – December is the last chance for taxpayers to file their Income Tax Return for FY 2021-22. Understand why 31/12/2022 is an important date for income tax payers.
GST Council held its 48th GST Council Meeting at New Delhi via virtual mode on 17th Dec 2022 which was chaired by Finance Minister Nirmala Sitharaman. What was the agenda of the meeting?
From FY 2021-22 onwards, it shall be mandatory to report HSN Summary for Outward Supplies in Table 17 at 6 digits for taxpayers having annual turnover in preceding FY above Rs. 5 Cr. and at 4 digits for all B2B supplies for taxpayers having annual turnover in the preceding FY up to Rs. 5 Cr. The registered person shall have an option to not fill HSN Summary for Inward Supplies in Table 18.
Krishna, as we have entered into the last month of this Calendar Year, are there important due dates which should be kept in mind before the end of this year?
In IT sector, in these days a huge turnover of workforce has been seen. Some IT companies are removing employees or some employees are leaving the organization. IT Companies for example Twitter, facebook has fired its workforce. Also, many of its remaining employees have resigned the organization.
On 28th September 2022, CBIC issued a notification to extend the time limit for completion of major compliances of previous financial year 21-22 under GST Act till 30th November 2022 or furnishing of the relevant annual return (GSTR-9), whichever is earlier.
1. Payment of tuition fees paid by parents for their children is allowed as deduction under section 80C. The Deduction is available to the extent of Rs 1,50,000/-. 2. Exemption for salaried taxpayer if they get perquisite from their employer for education of Rs 100 per month per child (upto 2 children)
