E-invoicing ENABLED if Average Annual Turnover between Rs.5 Crore to Rs.10 Crore The GST, e-Invoice System has issued an update regarding the E-invoicing for taxpayers with Average Annual Turnover (“AATO”) between Rs.5 Crore to Rs.10 Crore has been enabled on the website. Source from: https://einvoice1.gst.gov.in/
GST Show cause notice u/s 74(1) is invalid if relevant information not communicated : High Court HIGH COURT OF MADHYA PRADESH Balaji Electricals v. Appellate Authority & Joint Commissioner State Tax. SHEEL NAGU AND HIRDESH, JJ. WRIT PETITION NO. 6119 OF 2020 MAY 10, 2023 ORDER This writ petition filed under Article 226 of the Constitution of… Read More »
How to File ITR 2 Online AY 2023-24 I ITR filing I Income Tax Return I CA Satbir Singh
Are you filing the income tax return for any of the following reasons In Income Tax return , ITR filing you are being asked the following question : ” Are you filing the income tax return for any of the following reasons ” . Here is the answer in the Video . Following persons are… Read More »
Whether you are an FII/FPI? question in ITR Form FII means foreign institutional investors and FPI means foreign portfolio investors The central government on clarified the income tax returns filed by foreign institutional investors (FII) and foreign portfolio investors (FPI) will be processed on certain conditions even if the balance sheet and profit/loss account are… Read More »
E verify ITR Time Limit E verify ITR Time Limit is 30 days What is the new notification about the new timeline of 30 days for verification of ITR and to whom new timeline of 30 days is applicable? Resolution: From August 1, the Income Tax Department has reduced the time limit for e-verification or hard… Read More »
ITR Type for salaried employees in India ITR Type for salaried employees is ITR 1 also known as Sahaj . Thus ITR 1 is for salaried employees. ITR 1 is For individuals being a resident (other than not ordinarily resident) having total income upto Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest… Read More »
Can we change Tax Regime while filing ITR salaried employees can change the tax regime at the time of filing their Income Tax Return (ITR). For FY 2022-23 (AY 2023-24) salaried individuals can switch bet salaried employees are required to provide intimation regarding their choice of tax regime to employers in the beginning of the financial… Read More »
₹1,57,090 crore gross GST revenue collected for May 2023; clocks 12% Year-on-Year growth Monthly GST revenues more than ₹1.4 lakh crore for 14 months in a row, with ₹1.5 lakh crore crossed for the 5th time since inception of GST Revenue from import of goods 12% higher Y-o-Y; Domestic transactions (including import of services) revenue… Read More »
ITR filer big relief from 1st june 2023 I Income Tax Return I CA satbir singh