Income tax was introduced in India in 1860 and is generally described as a tax on income, gains or profits earned by a person such as individuals and other entities.
Discussing the judicial pronouncement which states that supply of telemedicine with a medical kit containing pulse oximeter, glucometer constitutes as ‘mixed supply'.
Tax audit extension, These demands mainly pertain to the deadlines under the Income Tax Act for AY 2020-21, and those under the GST Act for FY 2018-19 and 2019-20.
Recently, Union Budget 2021 has proposed to omit the provision of section 35(5) and amend section 44 of the CGST Act, 2017. After acceptance of the bill by the President of India, GST Audit will not be required.
A person who fails to file the TDS/TCS return has to pay late filing fees as provided under section 234E and apart from late filing fees he shall be liable to pay a penalty under section 271H.
With CAclubindia, you can conquer the GST world in more ways than one. So, let us understand the Top 5 ways through which you can be GST Ready with CAclubindia....
In wake of the COVID-19 pandemic and in the interest of taxpayers, CBDT has extended time limits for various compliances. Same has been discussed in this article.
Section 132(4) of the act has been put in place by the legislature consciously so as to enable the authorized officer to collect such evidence by recording statements during the course of the search.
The process of examining the return of income by the Income Tax department is called “Assessment”. Let us discuss various assessments under the Income Tax Act. ...
RBI has extended the timeline of certain compliance Norms with respect to the Various Payment System Requirements due to the second wave of the COVID-19 pandemic.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English