New Time Limit for E-Invoice Reporting: Ensuring Compliance and Streamlining Invoicing for Businesses in India
The Employees' Provident Fund Organisation (EPFO), which manages the retirement savings of over 60 million subscribers in India, has decided to modify the redemption policy for exchange-traded funds (ETFs) in a bid to boost returns for its subscribers and shield its income from market volatility.
The Income Tax Department has released JSON Schema for ITR 1 and ITR 4 for the Assessment Year 2023-24 (corresponding to the Financial Year 2022-23).
Cost Inflation Index (CII) is a measure used in India to adjust the inflationary effects on the cost of assets. It is basically an index that reflects the changes in the prices of goods and services over a period of time.
The Finance Ministry has set up a group to review the pension system for government workers. The committee will be led by Finance Secretary T V Somanathan and will suggest ways to improve pension benefits for government employees.
The Central Board of Direct Taxes (CBDT) has issued a circular on April 5, 2023, which explains how employers will deduct tax on salaries for the current financial year 2023-24
An audit trail is a documented record of the sequence of activities and events that are associated with a specific transaction, process or system.
Public Provident Fund (PPF) is a highly sought-after investment option for building a long-term retirement fund due to its low risk, moderate returns, and added tax benefits
The Mahila Samman Savings Certificate is a new small savings scheme introduced in the Budget 2023, specifically designed for women investors to encourage investments. The scheme is available to girl children or women, and the account can be opened in the Post Office or any authorized bank.
TDS Applicable from April 1, 2023 and Double Penalty for Non-Compliance