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Filing your Income Tax Return is a process that involves submitting information about the sources of income, deductions, and taxes paid during a financial year. Filing an ITR is mandatory for individuals with taxable income. In this blog, we will discuss the various reasons why you should file your income tax return on or before the due date.
Taxation is a crucial aspect of any economy, and India is no exception. The Indian taxation system is designed in such a way that every citizen has to pay taxes in one form or another. In this article, we have explained the Deductions & Allowances for Salaried People for AY 2023 – 2024.
Taxation on foreign income for Indian residents is a complex topic that affects a growing number of individuals and businesses in the country. This article provides an overview of the key aspects of taxation on foreign income for Indian residents.
Goods and Services Tax (GST) has changed the way businesses operate in India. But, how does it affect your income tax filing? The answer lies in understanding the interplay between GST and income tax. In this article, we'll explore the impact of GST on your income tax returns and discuss the strategies you can use to optimize your tax savings.
Capital gain tax is an important tax levied on the gains made from the sale of capital assets. In India, this tax is regulated by the Income Tax Act of 1961 and is an important source of revenue for the government. Read this article to learn how they interact.
RBI launches launched a new initiative that will allow international travellers to use UPI in India, enabling easy, secure transactions without cash or cards.
The Consumer Protection Act was enacted to provide a simpler and quicker access to the redressal of consumer grievances. This act seeks to provide for better protection of the interests of consumers.
Have not filed in 3 years. Not submitted any reports for six months (for others) It hasn't opened for business within the first six months after registering. Read here for more details.
Managing your finances can be a daunting task, but with the right habits, it can become a natural part of your daily routine. Here we have explained top 10 financial habits for 2023, which you can adopt for a better inancial health. Read complete blog for more details.
Digital currency refers to a type of currency that exists in digital form, rather than as physical notes or coins. Learn about its benefits, risks & impact on the economy.
The 2023 budget announces a new tax regime with a tax-free threshold of Rs 7 lakh for individuals for tax rebates under section 87A. Read here about new tax regime.
48th GST council meeting resulted in the codification of Rule 88C in the CGST Rules, addressing differences in liability reported in GSTR-1 and GSTR-3B. This rule impacts taxpayers with discrepancies between reported supplies.
Nirmala Sitharaman, the Union Finance Minister, is set to unveil the Union Budget 2023 for this year’s financial year on February 1, 2023. This will mark her fifth consecutive budget presentation, during which she will present financial statements and tax proposals.
The budget for the financial year 2023 is going to be presented by the Union Finance Minister Nirmala Sitharaman on 1 February 2023. This is her 5th straight Union Budget when she presents financial statements and tax proposals. We are a few days away from the same, and like every year, expectations are soaring.
A Show Cause Notice was issued to the petitioner on the ground that he was not functioning/not existing at the principal place of business, which remained unreplied. A month later, the cancellation order was passed against the assessee. Read more on this blog on superca.
The due date to file GSTR-9 for a financial year is the 31st of December of the year following the relevant financial year. For the non-filing of GSTR-9C before the due date, a general penalty of INR 50,000 (INR 25,000 CGST and SGST each) will be applicable. Check out this blog for more details on the due date.
Goods and Services play a crucial role in an economy. Consumer purchases products in the form of goods and services. We have explained the complete difference between goods and services in this blog. read out his blog to know more about goods and services.