Tax

Thanks to IT - the time limit for re-opening of assessment reduced to 3 years The Current fiscal Budget has lowered the time limit for reopening of tax cases to...

What is GSTR-2B? GSTR-2B is an auto-drafted Input Tax Credit (ITC) statement which is generated for every registered person on the basis of the information furnished by his suppliers in...

Recently, the auto-population of system-computed details in Form GSTR-3B, has been enabled for taxpayers (filing their Form GSTR-1 on monthly basis), from November 2020 Tax Period onwards. The auto-population is based...

The Goods & Service Tax (GST), which was rolled out PAN India as ‘One Nation One Tax’ has been looked by small and medium businesses as complicated and burdening compliance....

Whilst great hardships caused by the Coronavirus outbreak to business communities, one positive development, which we all must admit is that most businesses have gone digital from the traditional brick...

It is been said that the Governments that are transparent and accountable deliver more prosperity to their people. Making data more accessible and useable leads to insights & innovation and...

Aligned to the recent communications by various government officials, e-invoicing has now been notified for companies with a turnover of Rs 100 crore and above as well. With only few...

Background 'A Penny Saved is a Penny Earned' means that it is as useful to save money that you already have as it is to earn more. And here we...

In order to rationalisation and to reduce compliance burden on small and medium enterprises in India, the Finance Act 2020 has brought major amendments to the Income Tax Act, 1961...

The announcement of extension of tax filing due dates has provided a major relief to the tax payers who were facing the challenge of meeting the statutory and regulatory compliances...