6 Tips To Keep Your Business Safe from Special All-India Drive against fake GST registrations
Six Ways To Keep Your Business Safe from Special All-India Drive against fake GST registrations Starting on 16th May 2023, the GST Department will initiate a unique nationwide campaign targeting counterfeit GST registrations. As per the official notification from the Central Board of Indirect Taxes & Customs (CBIC), a Special All-India Drive will be launched by both Central and State tax administrations from May 16, 2023, to July 15, 2023. The objective of this drive is to identify suspicious/fake [...]
ITR 1 SAHAJ: Who Should File & How It Works
Understanding ITR 1 SAHAJ: The Easy Way to File Income Tax Returns Updated for the Assessment year 2023-24 The income tax department has recently released the ITR Forms for the assessment year 2023-24. We understand that it can be confusing to choose the right ITR form, especially if you're filing your taxes on your own. So, in this article, we'll explain the ITR 1 SAHAJ form in detail and clarify when you should use it. The ITR 1 SAHAJ [...]
10 Ways To Save Income Tax In 2020
10 Ways To Save Income Tax In 2020 Updated for FY 2019-20 The Income Tax Act 1961 has many provisions under which an assessed can save or plan their taxes accordingly. This blog post aims to give you an overview of such common provisions which can help reduce your tax liability at the end of your financial year. 1. Section 80C Series (80C, 80CCC, 80CCD) Maximum Deduction Limit: 1,50,000 INR Eligibility Criteria: Amount spent during the financial [...]
6 Reasons to file your income tax returns on time
6 Reasons to file your income tax returns on time Income Tax season is due and chaos is already in the air. Although India has an astonishing number of income tax filers with more than 5.5 Crore assesses who filed their returns last year a lot of them failed belated rerutns and paid for the delay. Here we have tried to put out six reasons to file your Income Tax returns on time. Avoid the last minute hassle by filling [...]
All about the New GST Returns
All about the New GST Returns The very essence of Goods and Service tax regime is to ensure that input utilized is actually paid to the government for which invoice matching was done through GSTR 2A, but however this was failed because tax payers started taking credit on provisional basis in GSTR 3B, thus making it difficult to determine whether tax which is utilized is been actually paid to the government, thus shaking the very purpose of GST regime.To [...]
Simplified GST RET Forms Explained
Simplified GST RET Forms Explained GST Council has been trying its best to simplify the return filing process and in an endeavor to its objective in its 27th Meeting, it brought in the idea of simplified GST Returns. The new GST Returns forms namely the GST RET 1, GST RET 2 (SAHAJ) and GST RET 3 (SUGAM) will be replacing the current monthly returns filing forms. Following is an explanation about the GST RET forms and its applicability: SAHAJ [...]
