Section 154 of the Income Tax Act, 1961, Section 154 provides a possibility for the assessing officer to rectify any mistakes or errors in the income tax records that were…
Defective ITR U/S 139(9) A defective return u/s 139(9) reveals that a taxpayer has made any mistakes or found any incomplete or inconsistent information in ITR (Income Tax Return). If…
Introduction Due to unawareness, many taxpayers commit mistakes in GSTR 3B and GSTR 1 while filing the GST Return. In this article, we will discuss “how to correct mistakes in…
Filing of GST returns is compulsory for every taxpayer. Despite the passing of almost 3 years since the enactment of GST laws, many mistakes are still being committed by GST…
Introduction India has the second-largest internet user base in the world. India’s e-commerce market after “India Goes Digital" has the fastest-growing country in the world. The rapid popularity and acceptance…
Foreign Tax Credit (‘FTC’) According to a Ministry of External Affairs report, there are 32 million NRIs and OCIs residing outside India. Many Indian residents migrated abroad to countries like…
Agriculture is the primary source of livelihood and source of income for about 58% of India’s population. As we all know that income which is received from agricultural activities know…
In this article, we have listed as such items, which are not eligible for the input tax credit under GST. But first, we need to understand the term ‘ITC’. ITC…
This is common in human to make mistakes likewise we may have made mistakes while filing an Income tax return. It is quite common question, how to revise the income…
In this article we have discussed all about TDS and TCS under GST.The concept of Tax Deduction at Source (TDS) was there in the former VAT Laws. GST Law also…
Section 80C is an income tax deduction that helps you to reduce the tax. Each financial year, we look for ways to save our taxes at the time of filing…
In this article, we have discussed about tax on freelancers income in India . India is the second-largest freelancing Market. freelancing has taken off quite a bit in the past…
As per the Income Tax Act of 1961, income tax must be deducted at source as per provision of the Income Tax Act, 1961.TDS stands for Tax Deducted at Source.…
Why Capital Gain Account Scheme? To encourage the reinvestment of capital gains/net consideration the Indian government introduced the capital gain account scheme in 1988. the Indian government provided tax relief…