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Krishna Gopal Varshney

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Krishna Gopal Varshney Krishna Gopal Varshney, Founder & CEO of Myitronline Global Services Private Limited at Delhi. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business/Professional establishment. Connect to us and let us give the Best Support to make you a Success. Visit our website for latest Business News and IT Updates.

The Latest from Krishna Gopal Varshney

Understanding Sections 90, 90A, and 91 of the Income Tax Act

The Income Tax Act is a vital legislation that governs the taxation system in many countries, providing the framework for determining tax liabilities and obligations. For individuals or entities involved in international transactions or earning income from foreign sources, it becomes crucial to comprehend the provisions related to cross-border taxation. Sections 90, 90A, and 91 of the Income Tax Act play a significant role in addressing international taxation's complexities and providing relief measures to prevent double taxation.

GST Campaign Under way 4,000 Firms In District Tagged Suspicious

Around 4,000 firms based in Ludhiana have been flagged as doubtful by the online system of the Goods and Services Tax Network (GSTN).

Fake GST Registration May Affect Small e-commerce Businesses

Starting from May 16th, both central and state indirect tax authorities have initiated a two-month campaign aimed at identifying and removing entities that obtain GST registrations through fraudulent means.

One-time Settlement Policy For Tax Defaulters On Cards

Based on available information, the government is building a justification to release approximately 27,000 individuals who have minimal debt to the government. Instead, the government will prioritize its efforts on individuals with substantial tax defaults and endeavor to recover taxes from them.

income Tax Dept enables online filing of Income Tax Returns

The income tax department has enabled the income tax returns form (ITR1) and (ITR2) for the fiscal year 2022-23. Individuals, small business owners, and professionals are required to file these income tax return forms.

Penalty For Non-Compliance With Companies Main Objective

As per the sources, several companies registered with the Ministry of Affairs fail to comply with the laws, regulations, and requirements of declaring the objectives according to the object clause of the memorandum of association.

No TDS liability on year-end provisions if payees are not identified & provision revered next year

According to a judgment delivered by the Karnataka High Court in the case of Subex Technologies Limited vs. DCIT, Bangalore, it was stipulated that if payees were not identified and year-end provisions were reversed in the following year, there would be no withholding liability for Tax Deducted at Source (TDS).

Educational Institution is Eligible for Exemption u/s 10(23C) (iiiab) of Income Tax Act

The Income Tax Act of India provides certain exemptions and benefits for various entities, including educational institutions. According to section 10(23C)(iiiab) of the Income Tax Act, educational institutions meeting specific criteria are eligible for exemption from income tax.

I-T returns: Norms notified for compulsory scrutiny

The Central Board of Direct Taxes (CBDT) has identified specific parameters for the compulsory selection of returns for thorough scrutiny during the fiscal year 2023-24. One of these parameters includes cases where a law enforcement agency provides specific information highlighting tax evasion for the relevant assessment year, and the assessee has filed the return for that assessment year.