Income Tax : Gifts exceeding Rs.50,000 are taxable for the receiver under Income Tax, except those from relatives or received on marriage. TDS ...
Finance : Summary of mandatory financial record-keeping periods under the Income Tax Act, GST Law (72 months), and Companies Act (8 ye...
Income Tax : Summary: Taxpayers, particularly Individuals and HUFs not required to audit their accounts, must file their Income Tax Returns (IT...
Goods and Services Tax : The 56th GST Council meeting is set for September 2025. The agenda includes rationalizing tax slabs, simplifying compliance, and a...
Income Tax : Learn how new ITR business codes impact tax filing. Key additions include codes for influencers and traders. AI to boost complianc...
Corporate Law : Right now, MSME’s are in a bind, there are lot of suppliers who are not paying MSME’s their dues on time and it's causing MSME...
In Income tax biggest cracker is the cracker that explodes in 6 different ways, we call it as Six Shots and that cracker is of SEARCH OR RAID.
As per the GST law, the supply will determine the levy of tax. The definition of supply is most important in the law of GST. Also, there has been a debate on the levy of tax on goods and services. Currently, VAT is levied on goods and Service Tax is levied on services. But many goods and services are inseparable, and then there is a debate about who will levy tax and also there are litigations on this.
Krishna, nowadays income tax department is conducting survey, raids, etc. almost everywhere. Because of this, confusion is arising among people. What is its intention? Please give details about it.
Krishna, the opportunity for disclosing black money will end on 30th September 2016. Also, the income tax department is carrying on survey, raid on the taxpayers evading tax. Also the department is conducting inquiry and collecting information from financial institutions, banks, co-operative banks, etc..
Because of GST there will be extreme changes in Taxation in our country. All the indirect taxes will come on equal platform. As everywhere movement in GST is seen, it is expected that GST will come soon. Understanding various concepts of GST is very important. We go at many place and see Ganpatis and different views, like that today we will see different views of GST.
Sales Tax Department had introduced automation in filing of VAT Returns on 25th February 2016 and it was decided to bring it in effect from April 2016.Due to various technical issues, VAT Returns are still pending to be filled since April 2016.
Krishna, festival of Lord Krishna’s Janmashtami is coming closer on 24th Aug. To break the Dahi Handi, human pyramids are formed. Also, the height of Dahi Handi is being a new topic for political debates.
Uur Indian Constitution has given freedom of speech, residence, etc. to every citizen. Similarly, following the tax laws is also mentioned in the constitution. Every taxpayer should follow the tax laws applicable to him. But sometimes it happens that the taxpayer evades tax, commits an error while maintaining books, or he may misunderstand a provision of law or there are disputes on certain provisions.
Krishna, Rio Olympic starts in Brazil. It’s the greatest festival of games. In India last week the Goods and Service Tax bill was passed at Rajya Sabha. Just like before Olympic flame, torch is burned and its relay starts and finishes at the place and date of Olympics
Krishna, nowadays two topics are capturing the attention of everyone in India. One is the mobile game ‘Pokémon Go’ and the other is the ‘Income Declaration Scheme 2016’ we may call it Taxman Go. One is for Finding Pokeman and other is for undisclosed income. Let’s enjoy it and learn joyful tax related matters. No one should take it otherwise.
