As the possibility of an economic recession in the US looms, global attention is now focused on the upcoming Federal Reserve meeting on September 17 and 18.
The GST Council is considering reducing the GST on life, health, and reinsurance premiums, currently at 18%.
Taxpayers, rejoice! The Central Board of Direct Taxes (CBDT) has unveiled a game-changing initiative that will bring much-needed relief to millions of taxpayers.
To make the information more appealing to Chartered Accountants (CAs) and finance professionals, the focus should be on tax trends, financial insights and the significance of high tax payments by celebrities. Here's how the key points can be tailored to engage them
Here's a point-to-point summary of the article about cases where no income tax rebate under Section 87A is allowed, even if the total income is below Rs 7 lakh
In her budget speech in July 2024, Finance Minister Nirmala Sitharaman announced a comprehensive review of the Income-Tax Act. The review is expected to be completed before the next Budget, aiming to reduce compliance burdens and improve clarity for taxpayers.
Tax planning is vital for effective financial management and avoiding penalties. The income tax department has outlined crucial deadlines for September 2024.
You can file a belated Income Tax Return (ITR) if you missed the original deadline of July 31. The deadline to file a belated ITR is December 31 of the assessment year.
A ministerial group is thoroughly reviewing GST rates in the 12% and 18% brackets. Decisions on potential changes are expected by the end of September.
From September 1, 2024, GST taxpayers must have a valid bank account linked to their GST registration to file GSTR-1.
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