On March 24th, 2023, the Finance Amendment Bill was passed by the government. This bill is aimed at making changes to the existing financial laws in order to bring in more transparency and accountability, and to facilitate ease of doing business. The bill has been lauded by experts and industry leaders for its many benefits, which we will discuss in this article.
The most important section in Income Tax Act, 1961 that lays down various products/options available to taxpayers is Section 80C. The total admissible deduction under Section 80C is Rs.150,000.
This scheme encourages parents to create a fund for their female child for potential education and marriage expenses. Accounts under this scheme can be opened by visiting the post office or branches of authorized banks.
It is important to keep a track of the Important Statutory due dates for LLP Annual Filing falling in the year so that an LLP can be well prepared for all the compliances to be met in a year. Discussing the same for FY 2020-21.
In this article, we compare the situation of the taxpayers and professionals to the "Duckworth Lewis" Rule in which due to rain or other interruptions, more runs have to be made in fewer balls. This is with regard to the due date extension made by the government.
In this article, Krishna and Arjuna discuss some of the compliances to be fulfilled by taxpayers by filing Tax Returns before 31st December 2020, in order to avoid late fees.
Know hor the return GSTR-3B is becoming more robust after the changes announced by the GST Portal.
Vighnaharta’s enlightenment on extended reporting to taxpayers!
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