Query has been raised regarding GST applicable on selling of space for advertisement in print media.
Various news reports/articles have appeared in the media regarding inconsistency in the estimates of the number of taxpayers added after demonetization. It has been commented that the following different figures have been given at different forums by
The Direct Tax collections up to July, 2017 in the Current Financial Year 2017-18 continue to register steady growth. Direct Tax collection during the said period, net of refunds, stands at Rs. 1.90 lakh crore which is 19.1% higher than the net colle
25% growth in number of Income Tax Returns filed in current fiscal Advance Tax (Personal Income Tax) collections up by 41% As a result of demonetization and Operation Clean Money, there is a substantial increase in the number of Income Tax Returns(IT
In view of the difficulties faced by taxpayers, the due date for filing of Income Tax Returns for F.Y. 2016-2017 i.e. Assessment Year A.Y. 2017-2018 was extended to 5th August, 2017(for certain categories of taxpayers).In order to facilitate manual f
Permanent Account Number (PAN) is the key identifier of taxable entity and aggregator of all financial transactions undertaken by one person. One PAN for one person is the guiding principle for allotment of PAN. However, for achieving the objective o
In view of the difficulties faced by taxpayers, date for filing of Income Tax Returns for FY 2016-17 has been extended to 5th August, 2017
The Government of India has taken several steps to address the problem of benami transactions across the country. (i) The Benami Transactions (Prohibition) Act, 1988 (the Act) was comprehensively amended through the Benami Transactions (Prohibition)
Optional reporting of details of one foreign bank account by the non-residents in refund cases Refund generated on processing of return of income is currently, credited directly to the bank accounts of the tax-payers. Availability of the detail of b
Income Tax Department celebrates Aaykar Diwas 2017; FM calls for expansion of the tax base in a non-intrusive manner and prompt redressal of the grievances of the tax payers. The Union Finance Minister Shri Arun Jaitley highlights the initiatives un
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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