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The updated return, or ITR-U, was put forward in the Union budget of 2022 to provide taxpayers with an additional chance to submit if they missed the deadline for filing their tax returns late or to correct any mistakes they made.
The Income Tax Department has received information on financial transactions relating to XXXX SINGH PAN XXXXX1650X for Financial Year 2023-24 (AY 2024-25). It is seen that your advance tax payment for F.Y. 2023-24 is apparently not commensurate with such financial transactions undertaken by you during this period.
For taxpayers, the Goods and Services Tax (GST) Composition Scheme is an easy-to-understand program. Small taxpayers have the option to pay GST at a fixed rate of turnover and do away with arduous GST requirements.
So as to claim a GST refund, the taxpayer has to adhere to certain processes, provide the GST authorities with the appropriate documentation, and make any necessary disclosures.
The Government of India launched an initiative named "Startup India" in January 2016 with the aim of encouraging and promoting entrepreneurship in India as a whole. The goals of the scheme are aimed at creating jobs, encouraging innovation, and developing an environment that supports growth of startups
GST is a value added tax for the provision of goods and services at every stage of supply chain's distribution and production.
Exporting goods and services can have a significant positive impact on businesses of all sizes. The chance to access a diverse range of potential clients by tapping into a sizable global market is one of the main advantages.
Finance Minister Nirmala Sitharaman today on February 1 presented the Union Budget 2024 inside the Lok Sabha. No changes have been introduced in the tax slabs in old and new tax regimes.
In this article, we can discover the reasons for receiving those notices, the capability results, and the steps people can take to deal with the scenario.
The Due Date for Filing Belated Income Tax Returns or revising ITR for Financial Year 22-2023 was 31st December 2023.
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