The Goods and Services Tax (GST) regime allows businesses to claim Input Tax Credit (ITC) on purchases used for taxable supplies. However, there are situations where previously claimed ITC needs to be reversed.
As we are all aware, under the Income Tax Act of 1961, every assessee has to furnish his income tax return as required by 139. Once it has been furnished, the assessment part comes into play, where an assessing officer scrutinizes the ITR form and takes action as required.
Angel Tax which is governed by Section 56(2)(viib), was introduced in the Income Tax Act from the Assessment Year 2013-14 via finance bill, 2012 as a step to take up the circulation of unaccounted money in the name of share premiums which were received by private companies or closely held companies.
Let's screen some data and see that if at all the rally that the market has experienced was due to P/E expansion if not Earnings expansion or both.
In this comprehensive guide, we will delve into a step-by-step process to comprehensively understand and analyze GST notices, ensuring a thorough and informed response.
Patta Chitta are important land records in the state of Tamil Nadu. Due to digitization, these land records, i.e., Patta Chitta documents, are available online through the official TN e-Services website.
The Central Board Direct Taxes(CBDT) has released some guidelines relating to compulsory selection of Income tax returns for 100% Scrutiny during the financial year 2024-2025.
After the end of the financial year and the start of a new financial year, it's good to try to save more money. Saving is basically when we keep some of the money we earn instead of spending it all right away.
This article explores whether NRIs can sell and buy property from each other, shedding light on the complexities of NRI property transactions.
Just as electing the right candidate is important for the growth and security of the nation, choosing the right insurance policy is also equally tough and important job. What are your view on this?
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