Income Tax : Explore an e-campaign by the Income Tax Department on significant transactions and advance tax payments. Learn about advance tax, ...
Goods and Services Tax : Learn about crucial tax compliances to complete before 31st March 2024 to avoid future complications. From advance tax payments to...
Income Tax : Learn about Advance Tax, a 'pay as you earn' system in India. Find out who needs to pay, calculation methods, due dates, and FAQs ...
Income Tax : Explore Sections 207 to 219 of the Income Tax Act, 1961, covering Advance Tax provisions, due dates, and in-depth analysis. Unders...
Income Tax : Learn why disclosing previous salary is crucial for accurate tax planning. Explore advance tax intricacies, due dates, and interes...
Income Tax : Income Tax Department has identified certain inconsistencies in the Statement of Financial Transactions (SFT-17) data related to s...
Income Tax : The Income Tax Department, under the Ministry of Finance, is set to initiate an e-campaign aimed at enhancing taxpayer compliance ...
Income Tax : Advance Tax collections for the F.Y. 2021-22 (Till 3rd Installment) stand at Rs. 4,59,917.10 crore as on 16.12.2021 which shows a ...
Income Tax : Net Direct Tax collections represent 104.46% of the Revised Estimates of Rs. 9.05 lakh crore of Direct Taxes for the F.Y. 2020-21....
Goods and Services Tax : Learn about crucial tax compliances to complete before 31st March 2024 to avoid future complications. From advance tax payments to...
Income Tax : Analysis of the ITAT Mumbai ruling in the case of Damco India Pvt Ltd Vs CIT. Key insights into why the AO must grant advance tax ...
Goods and Services Tax : AAAR rule that in the instant case the supply of fortified wholemeal flour to the Food & Supplies Department, Government of West B...
Goods and Services Tax : In re Emerald Court Co-operative Housing Society Ltd. (GST AAR Maharashtra) CORRIGENDUM In the case of the applicant, M/s. Emerald...
Goods and Services Tax : In re Nexustar Lighting Project Private Limited (GST AAR Odisha) Question No. 1 Whether in facts and circumstances of the case, th...
Income Tax : Extension of date of Direct Tax payment in respect of third installment of advance tax for FY 2019-20 Considering the large-scale ...
Understand Advance Tax under the Income Tax Act, 1961. Learn about compliance, revision of income estimates, due dates, who is exempt, tax rates, computing advance tax, payment procedure, and more. Stay informed to meet your tax obligations effectively.
Interest payable under section 234B shall be computed on an amount equal to the assessed tax as reduced by the amount of advance tax, the credit for which has been claimed in the earlier return, if any.
AAAR rule that in the instant case the supply of fortified wholemeal flour to the Food & Supplies Department, Government of West Bengal will fall under entry no. 3A of Notification No. 12/2017-Central Tax (Rate) dated 28.06.2017 and exempt from taxation.
If income tax liability of a taxpayer exceeds Rs 10,000 in a financial year, then he is liable to pay such tax in installments as Advance Tax
Any person being Individual/HUF/Company/Firm/LLP etc. providing any benefit or perquisite whether convertible into money or not, is liable w.e.f. 1-7-2022 to deduct TDS U/s 194R @ 10% on the value or aggregate value of such benefit or perquisite.
Discover the essentials of Advance Tax under the Income Tax Act, 1961. Learn who is liable, when to pay, and how much to pay. Uncover the consequences of non-payment and the benefits of fulfilling your Advance Tax obligations. Ensure a smooth tax journey with key insights and timely payments.
Advance Tax refers to Income tax collected in advance from the taxpayer for the year before the end of the concerned financial year. Advance Tax is payable by the taxpayer during a financial year in every case where the amount of tax payable exceeds Rs 10,000/- Advance Tax is calculated on the basis of expected […]
What Is Advance Tax? As we already know that the income-tax is payable on the income earned during the previous year and it is assessed or charges in the immediate succeeding assessment year (e.g.: I earned income in year 2021-22 will be assessed in next year i.e., 2022-23. In this case, my previous year would […]
Advance Tax collections for the F.Y. 2021-22 (Till 3rd Installment) stand at Rs. 4,59,917.10 crore as on 16.12.2021 which shows a growth of approximately 53.50%. Net Direct Tax collections for the F.Y. 2021-22 grown at robust pace at more than 60%. Refunds aggregating to Rs. 1,35,093.6 crore issued in the current fiscal. The figures of […]
Advance tax means income tax should be paid in advance instead of lump sum payment at year end. Taxpayer need to pay Advance Tax in 4 installments in which he has to pay 15% of advance tax by 15th June, 45% of advance tax by 15th September, 75% of advance tax by 15th December and […]
