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ITR Notice
CBDT Notifies ITR Forms For AY (2023-24) In Advance
Central Board of Direct Taxes CBDT has announced income tax returns forms (ITR-1 to ITR-6) for AY 2023-24 (FY 2023-23). The CBDT has notified ITR-1 to ITR-6 on 10 February 2023 and ITR-7 on 14th February 2023. However, No big amendments are made to ITR forms by the government.
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By Krishna
Basic of Income tax return
How To File ITR of Past Years - Benefits & Consequences
People are able to submit returns for prior years. Only the two years prior to the current financial year for which the returns have been filed may be used in this manner.
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By Krishna
PAN & Aadhaar
PAN Aadhar Linking Deadline Extended
The Income Tax Department giving the much-needed downtime to the Pan Card holders in India has extended the deadline to link PAN-Aadhaar till 30 June 2023. The deadline for linking PAN and Aadhaar has been extended to June 30, 2023, in order to provide taxpayers more time.
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By Krishna
Income Tax Slabs
TDS Rate Chart for Financial Year (FY) 2023-2024 /Assessment Year (AY) 2024-2025
Tax dedication at the source (TDS) is one of the essential compliance for the income taxpayer. There are different types of sections in income tax laws, which specify different TDS rates, threshold limits for TDS, and the nature of the payment.
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By Krishna
GST Basics
Analysis of 8th GST Notifications on 31st March 2023
On the 31st of March, 2023, when the fiscal year 2022–2023 was close to an end, we were awakening into the night to uphold the discussions reached at the 49th Council meeting, which was held on 18th February, 2023.
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By Krishna
Composition Scheme
All About New GST Amnesty Scheme w.e.f. 01-04-2023
The 49th GST Council Meeting introducing a new Amnesty Scheme for taxpayers issued notifications on 31st March 2023, held on 18th Feb 2023…
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By Krishna
Budget 2023
Budget 2023: A glimpse of old vs current income tax slabs
The Finance Minister, Nirmala Sitharaman has announced a significant change in the income tax regime. The new income tax regime has seen a major update in the income tax slab rates for 2023-24.
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By Krishna
Financial Management
SEBI Extends Nomination Filing Deadline For Trading & Demat Account Holders
The Demat & Trading Accounts will be frozen from September 30, 2023. On failure to update the nomination for Demat & trading account - SEBI.
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By Krishna
Months Compliance
Statutory & Compliance Calendar For January 2023
All businesses, regardless of the business structure held onto statutory compliance and complete all the vital filings before the due dates. For all business transactions, there are some essential compliances that a business owner must fulfill as a moral duty. These compliances are timely framed and must be completed within the prescribed time by the Government.
-
By Krishna
CBDT Notifies ITR Forms For AY (2023-24) In Advance
Central Board of Direct Taxes CBDT has announced income tax returns forms (ITR-1 to ITR-6) for AY 2023-24 (FY 2023-23). The CBDT has notified ITR-1 to ITR-6 on 10 February 2023 and ITR-7 on 14th February 2023. However, No big amendments are made to ITR forms by the government.
-
By Krishna
How To File ITR of Past Years - Benefits & Consequences
People are able to submit returns for prior years. Only the two years prior to the current financial year for which the returns have been filed may be used in this manner.
-
By Krishna
PAN Aadhar Linking Deadline Extended
The Income Tax Department giving the much-needed downtime to the Pan Card holders in India has extended the deadline to link PAN-Aadhaar till 30 June 2023. The deadline for linking PAN and Aadhaar has been extended to June 30, 2023, in order to provide taxpayers more time.
-
By Krishna
TDS Rate Chart for Financial Year (FY) 2023-2024 /Assessment Year (AY) 2024-2025
Tax dedication at the source (TDS) is one of the essential compliance for the income taxpayer. There are different types of sections in income tax laws, which specify different TDS rates, threshold limits for TDS, and the nature of the payment.
-
By Krishna
Analysis of 8th GST Notifications on 31st March 2023
On the 31st of March, 2023, when the fiscal year 2022–2023 was close to an end, we were awakening into the night to uphold the discussions reached at the 49th Council meeting, which was held on 18th February, 2023.
-
By Krishna
All About New GST Amnesty Scheme w.e.f. 01-04-2023
The 49th GST Council Meeting introducing a new Amnesty Scheme for taxpayers issued notifications on 31st March 2023, held on 18th Feb 2023…
-
By Krishna
Budget 2023: A glimpse of old vs current income tax slabs
The Finance Minister, Nirmala Sitharaman has announced a significant change in the income tax regime. The new income tax regime has seen a major update in the income tax slab rates for 2023-24.
-
By Krishna
SEBI Extends Nomination Filing Deadline For Trading & Demat Account Holders
The Demat & Trading Accounts will be frozen from September 30, 2023. On failure to update the nomination for Demat & trading account - SEBI.
-
By Krishna
Statutory & Compliance Calendar For January 2023
All businesses, regardless of the business structure held onto statutory compliance and complete all the vital filings before the due dates. For all business transactions, there are some essential compliances that a business owner must fulfill as a moral duty. These compliances are timely framed and must be completed within the prescribed time by the Government.
-
By Krishna
Today's top highlights
The Latest and Greatest in ITR News : Myitronlinenews
Created on: Nov 17, 2023
Manappuram Finance Limited Rs 42.78 Lakh RBI Penalty
After looking at reports and letters, the RBI found that the company didn't follow the RBI's instructions about giving back extra money to certain borrowers.
Created on: Nov 17, 2023
RBI Statistical Handbook Indian States 2022-23
India is rapidly advancing as an economy and aims to sustain this growth, aspiring to attain developed economy status by 2047, marking the centenary of its independence.
Created on: Nov 17, 2023
Easily Obtain PAN Income Tax Department e-Filing Portal
In India, you can easily get an e-PAN through the Income Tax Department's e-filing portal. This quick process only requires your Aadhaar card, which should be linked to your PAN and have a registered mobile number.
Created on: Nov 16, 2023
GSTN Advisory ITC Reversal Rule 37A Compliance
The GSTN has issued Important Advisory No. 613 dated November 14, 2023, regarding the Reversal of Input Tax Credit (ITC) under Rule 37A of the CGST Rules, 2017.
Created on: Nov 16, 2023
Gross Direct Tax Collection India Surges 17.6 Rs 12.3 Trillion November
The government has set a target of 10.5% growth in revenues from corporate and individual income tax, aiming to reach Rs 18.23 trillion in the current financial year.
Created on: Nov 16, 2023
Income Tax Rebate Types Eligibility
What is income tax rebate? When an individual pays beyond their tax liability, they receive a refund on the surplus amount, commonly known as a tax rebate. This extra money is reimbursed after the fiscal year.
Created on: Nov 16, 2023
CBDT Exemption Section 10(46) Income Tax Press Council India
The Central Board of Direct Taxes (CBDT) has officially exempted the Press Council of India from income tax under Section 10(46) of the Income Tax Act of 1961 through the issuance of a notification.
Created on: Nov 08, 2023
E-filing Form 56F AY 2023-24 Online
The CBDT, through the recently issued notification no. G.S.R. 786(E) on October 19, 2023, has made it a requirement to submit an audit report in Form 56F for claiming deductions under Section 10AA of the Income Tax Act, 1961.
Created on: Nov 08, 2023
Agricultural Income Tax Navigating Taxation
Agricultural income tax is a levy imposed by governments on the income generated from agricultural activities. It is essential for ensuring a fair contribution from the agricultural sector to the country's revenue.
Created on: Nov 07, 2023
Financial Dates November 2023 FD Tax Deadlines
Pensioners and retirees, especially those aged 80 or older, need to regularly prove they are alive to continue receiving their pension. They do this by submitting a life certificate to pension-paying authorities like banks or post offices.
Created on: Nov 07, 2023
GST Registration Cancellation Rules Forms
The cancellation of GST registration is a process where a taxpayer's GSTIN number, which they receive during GST registration, is terminated. This cancellation can be initiated by the central tax authority or the taxpayer.
Created on: Nov 06, 2023
Diwali 2023 Tax Implications Gifts Relatives Tax Free
Diwali is just a few days to go and many of you are wondering whether the gift will also be taxable on Diwali or not! With the Diwali gift-giving season upon us, you might be curious about which gifts could potentially incur taxes.
Created on: Nov 17, 2023
Manappuram Finance Limited Rs 42.78 Lakh RBI Penalty
After looking at reports and letters, the RBI found that the company didn't follow the RBI's instructions about giving back extra money to certain borrowers.
Created on: Nov 17, 2023
RBI Statistical Handbook Indian States 2022-23
India is rapidly advancing as an economy and aims to sustain this growth, aspiring to attain developed economy status by 2047, marking the centenary of its independence.
Created on: Nov 17, 2023
Easily Obtain PAN Income Tax Department e-Filing Portal
In India, you can easily get an e-PAN through the Income Tax Department's e-filing portal. This quick process only requires your Aadhaar card, which should be linked to your PAN and have a registered mobile number.
Created on: Nov 16, 2023
GSTN Advisory ITC Reversal Rule 37A Compliance
The GSTN has issued Important Advisory No. 613 dated November 14, 2023, regarding the Reversal of Input Tax Credit (ITC) under Rule 37A of the CGST Rules, 2017.
Created on: Nov 16, 2023
Gross Direct Tax Collection India Surges 17.6 Rs 12.3 Trillion November
The government has set a target of 10.5% growth in revenues from corporate and individual income tax, aiming to reach Rs 18.23 trillion in the current financial year.
Created on: Nov 16, 2023
Income Tax Rebate Types Eligibility
What is income tax rebate? When an individual pays beyond their tax liability, they receive a refund on the surplus amount, commonly known as a tax rebate. This extra money is reimbursed after the fiscal year.
Created on: Nov 16, 2023
CBDT Exemption Section 10(46) Income Tax Press Council India
The Central Board of Direct Taxes (CBDT) has officially exempted the Press Council of India from income tax under Section 10(46) of the Income Tax Act of 1961 through the issuance of a notification.
Created on: Nov 08, 2023
E-filing Form 56F AY 2023-24 Online
The CBDT, through the recently issued notification no. G.S.R. 786(E) on October 19, 2023, has made it a requirement to submit an audit report in Form 56F for claiming deductions under Section 10AA of the Income Tax Act, 1961.
Created on: Nov 08, 2023
Agricultural Income Tax Navigating Taxation
Agricultural income tax is a levy imposed by governments on the income generated from agricultural activities. It is essential for ensuring a fair contribution from the agricultural sector to the country's revenue.
Created on: Nov 07, 2023
Financial Dates November 2023 FD Tax Deadlines
Pensioners and retirees, especially those aged 80 or older, need to regularly prove they are alive to continue receiving their pension. They do this by submitting a life certificate to pension-paying authorities like banks or post offices.
Created on: Nov 07, 2023
GST Registration Cancellation Rules Forms
The cancellation of GST registration is a process where a taxpayer's GSTIN number, which they receive during GST registration, is terminated. This cancellation can be initiated by the central tax authority or the taxpayer.
Created on: Nov 06, 2023
Diwali 2023 Tax Implications Gifts Relatives Tax Free
Diwali is just a few days to go and many of you are wondering whether the gift will also be taxable on Diwali or not! With the Diwali gift-giving season upon us, you might be curious about which gifts could potentially incur taxes.
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