20 Apr Extended Period of Limitation: Understanding and Challenging Sec. 74
In the realm of taxation, navigating through various sections and provisions can be daunting....
Tax Advice Tag
13 Apr Identifying Instances Leading to Income Tax Notices in Real Estate Deals and Credit Card Transactions
The Income Tax Department meticulously monitors all financial transactions carried out by individuals, utilizing various data sources to ensure adherence to tax regulations....
09 Apr GSTN Issues Important Advisory Regarding Reset and Re-filing of GSTR-3B for Certain Taxpayers
The GSTN has released an important advisory, numbered 629 and dated April 9, 2024, regarding the reset and re-filing of GSTR-3B for specific taxpayers....
06 Apr GST Implications on Lump Sum Transfer Charges for Leasehold Rights
In a recent ruling by the Uttar Pradesh Authority for Advance Rulings (AAR), Remarkable Industries (P.) Ltd. sought clarification regarding the GST implications on lump sum upfront premium paid as transfer charges for leasehold rights....
03 Apr Income tax department cracks down on PAN fraud for false HRA claims
The income tax department has unearthed a scam involving the fraudulent use of permanent account numbers (PAN) to claim house rent allowance (HRA) without actual tenancy....
28 Mar CBDT notifies changes in ITR Form V and Acknowledgement for AY 2024-25
The CBDT, through Notification No. 37/2024 dated March 27, 2024...
26 Mar A Closer Look at the Significant Tax Adjustments Coming into Force on April 1, 2024
April 1 signifies the start of a fresh fiscal year and holds great importance for personal finances, as many income tax adjustments from the Budget come into effect on this date....
26 Mar Assessee is entitled to interest from the date immediately after the expiry of sixty days from the date of receipt of the GST refund application
The Hon'ble Delhi High Court, in the case of Raghav Ventures vs. Commissioner of Delhi [Writ Petition (Civil) No. 12209 of 2023 dated March 01, 2024]...
19 Mar Key JSON Schemas for ITR-1 and ITR-4 Issued by Income Tax Department for Assessment Year 2024-25
The Income Tax Department has recently unveiled the JSON Schema for ITR-1 for the Assessment Year 2024-25, corresponding to the Financial Year 2023-24....
16 Mar Section 194G of the Income Tax Act
Lottery tickets are often seen as gateways to instant wealth, but few realize the tax implications that accompany such windfalls. Section 194G of the Income Tax Act delineates the provisions for Tax Deducted at Source (TDS) on various activities related to lottery tickets, including their...
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