ITR Verification Process
ITR Verification Process: Ensuring Ultimate Compliance ITR Verification Process: CBDT w.e.f from 01/08/2022 has reduced the time limit for ITR Verification from 120 days to 30 days. With this change its clear that GOI is discouraging the practice of sending ITR to Bangalore. There are lots of verification methods for ITR, the most popular is Aadhar […]
What Happens if You Miss the ITR Filing Deadline?
What Happens if You Miss the ITR Filing Deadline?: Last Date for Filing Income Tax Return was 31st July of every year but this time the GOI has not extended the due date and despite record number of filing still many people are yet to file their Income Tax Return. So what is the course […]
ITR – U
Understanding ITR – U: An Overview ITR – U: Many People who could not file ITR properly or some unintentional mistake happens during filing of ITR will now get a chance to File ITR – U. CBDT recently notified forms on 29th April 2022. The government is giving a chance to assessee to correct ITR […]
Compulsory Filing of Income Tax Return
Compulsory Filing of Income Tax Return Compulsory Filing of Income Tax Return: Every Individual other than company or a firm, if his total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to […]
Stamp Duty Benefit on Resale of Properties
Stamp Duty Benefit on Resale of Properties: Let’s first understand what Stamp Duty is – Every Person has to pay Stamp Duty and Registration charges while registering Property to the State Government as the constitution has given the right to collect Stamp Duty to the State Government, now the stamp duty rates vary according to […]
E Invoice
Understanding E Invoice: A Comprehensive Overview Applicability & Non Applicability E Invoice is applicable to all B2B Invoices, after generating E Invoice a unique Invoice Reference Number (IRN) will get generated. Currently E invoice is applicable to business which have turnover more than 50cr but from 1st April 2022 E Invoice is applicable to […]
Refund Process
Simplified Refund Process: A User-Friendly Guide Refund Process: Income Tax Refund status is to check whether one has received Income Tax Refund or not. However, one must ensure whether IT return is processed by the officer or not, Refund will not get processed without process of IT Return. So one must ensure whether he/she has […]
ITR Filing Process
ITR Filing Process: A Comprehensive Guide Step-by-Step Guide ITR Filing Process: For filing ITR via the e-filing portal, you’ll need to visit “ eportal.incometax.gov.in ” and need to enter username and then password. In the next step, you will need to select the ‘e-file’ option, followed by clicking on the Income Tax Return and then finally ‘File […]
Budget 2022- Key Points Related to Direct & Indirect Taxes
Budget 2022- Key Points Related to Direct & Indirect Taxes: The budget 2022 is highly focused on the sectors like digital technology, Infrastructure, health, and education. There are no changes made in the slab of income tax and rates of GST which was expected by many. However, a tax of 30% is introduced on the […]
Incorporation of Private Limited Company
Incorporation of Private Limited Company: Understanding the Legal Requirements Incorporation of Private Limited Company: Company means a legal entity established or formed by the group of individuals for the purpose of running business in a systematic and organized way. Ministry of corporate affairs has the authority to approve the registration and to provide the incorporation […]