Investing in mutual funds is one of the most popular and effective ways to grow wealth. Mutual funds offer a diversified portfolio, professional management, and access to various market segments. However, selecting the right funds requires a careful analysis of performance, risk, and alignment with financial goals. In this blog, we will explore the basics […]
कैश लेन-देन पर सीमा और इसके कानूनी परिणाम एक देश से दूसरे देश में भिन्न हो सकते हैं। भारत सरकार ने टैक्स चोरी को रोकने और डिजिटल भुगतान को बढ़ावा देने के लिए कैश लेन-देन पर कड़े नियम लागू किए हैं। ये नियम मुख्य रूप से आयकर अधिनियम, 1961 के कई खंडों में उल्लिखित हैं, […]
The limits on cash transactions and their legal consequences can differ from one country to another. The government of India has introduced stringent regulations on cash transactions that aim to tackle tax evasion and encourage digital payments. These regulations are mainly outlined in several sections of the Income Tax Act of 1961, specifically sections 269SS, […]
Important Update Taxpayers will not be able to modify values auto-populated in GSTR-3B from GSTR-1/1A/IFF or GSTR-2B as it will automatically derived from supplies declared in GSTR-1, GSTR-1A, or IFF. FORM GSTR-3B will be frozen from January 2025, as it changes the previous process where GSTR-3B could be filed even if GSTR-2B wasn’t available. Now, […]
The notice directed the vendor to appear in person and present financial documents related to his transactions over the past three years. A pani puri vendor from Tamil Nadu has come under the Goods and Services Tax (GST) authorities’ scanner after reportedly receiving online payments amounting to Rs 40 lakh during the 2023-24 financial year. […]
Hr Breaking News (ब्यूरो) : इनकम टैक्स को लेकर अकसर लोग आईटीआर (ITR) न भरने की लापरवाही कर बैठते हैं। बहुत लोगों को तो आईटीआर के स्लैब्स का भी पता नहीं होता। ऐसे में आयकर विभाग नोटिस भेजकर टैक्स वसूलता है। लेकिन, अब हाईकोर्ट के एक फैसले से पुराने समय में टैक्स (Income Tax notice time […]
WAIVER SCHEME UNDER SECTION 128A For reducing the tax disputes and to provide a big relief to the taxpayers, GST Council in its 53rd meeting held on 22nd June, 2024 had recommended for waiver of interest and penalties in the demand notices or orders issued under Section 73 of the CGST Act, 2017 (i.e. the […]
A number of banks have revised their fixed deposit (FD) interest rates in December 2024. This is a significant development since FDs are some of the most popular investment options in India, with a large number of people putting a significant portion of their savings into them. This is primarily due to the fixed and […]
The Finance Act 2023 inserted Section 43B(h), which stipulates that any sum owed to Micro and Small enterprises for goods supplied or services given may be deducted in the same year if it is paid within the deadline stipulated by the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006. This amendment aims to address the issue of working capital scarcity in […]
Amendment to Section 200(3): Timeline for Filing Correction Statement the Finance Act (No. 2), 2024, introduced a crucial amendment to Section 200(3) of the Income-tax Act, affecting the timelines for filing correction statements related to tax deducted at source (TDS) or tax collected at source (TCS). This change seeks to streamline the correction process and […]
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