The Central Board of Direct Taxes (CBDT) has rolled out the e-Verification Scheme, 2021 for the Collection of Information of Assessee by the Assessing Officer (AO).
The main objective of the 'Annual Information Statement' is to provide comprehensive tax information to the taxpayer and also to promote voluntary compliance as well as seamless prefiling of the income tax return (ITR).
ESOPs have been a significant component of the compensation for the employees of start-ups, as it allows the founders and start-ups to employ highly talented employees at a relatively low salary amount with balance being made up via ESOPs.
It is seen that the CBIC and DGARM has held back many refunds of exporters due to the difference between the FOB Value of exports as reported in the Shipping Bills and the CIF Value as reported in the GST Invoices which also find a way in the Shipping Bill.
Income tax department collects information about income received and material transactions carried out by an individual during the financial year through various sources and compiles the information collected in a summary form and presents it in a form of a statement called Annual Information System.
In GST, the government stated a taxpayer can avail ITC of all those inputs of goods and services which are used for supply of goods and/or services is allowed under GST.
In the article, we look at the present state of affairs and provide the way forward for the trade/ restaurants/ hotel/ online supplies and possible suggestions to obtain clarity.
An employee stock ownership plan (ESOP) refers to an employee benefit plan which is intended to encourage employees to acquire stocks or ownership in the company.
Starting a business is simple, but keeping it running is difficult. That is the harsh reality of every firm, particularly a modest solo proprietorship. What is the explanation for this? Because no single individual can fulfill all of their responsibilities.
The object of "Cover Note or Interim receipt" is to afford interim protection to the assured pending he decision of the insurance company to finally accept or reject the proposal for insurance.
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