The CBIC has issued circular to clarify that a new functionality has been made available on the common portal which allows unregistered...

Insertion of new rule 37A for availment of ITC under GST Rules

The Central Government hereby notifies the following virtual digital assets which shall be excluded from the definition of virtual...

The CBDT has amended Income-tax Rules incorporating TDS changes brought by Finance Act, 2022. The tax deducted under section 194S shall...

The government has now made it mandatory for an individual to file income tax returns if his/her total TDS/TCS during the financial year...

To provide relief to senior citizens who are of the age of 75 year or above and to reduce compliance, Section 194P has been inserted.

Confused about the differences between Notification, Circular and Press release? - Read this article for your all answers.

1. No late fees for filing 3b of Mar/April 3b upto 15 days and 30 days from original due date for taxpayer with turnover more than 5 cr...

Understanding Section 194Q – TDS on purchase of goods and Sections 206C(1H).- TCS on sale of goods under Income tax Act.

Government extends certain timelines under Income tax in light of the raging pandemic.

CBIC has issued various notifications on 10th Nov,2020, brief of which are given below:- 1. Notification No. 81/2020 – Central Tax...

Background of Equalisation Levy As per Memorandum to Finance bill, 2016, a need for equalisation levy was felt because of: - "With the...

Background Identifying yourself as a trader or an investor is the first step to assess your income under correct head of income and...

CBIC issues various notifications to implement some of the suggestions of GST Council meeting held recently. Notification No. 74/2020,...

Background ESOPs has gained popularity in last few decades and has been a factor to motivate, attract and retain the valuable employees...