Recognising their critical contribution in supporting the economy especially during the present difficult times of COVID-19 pandemic, Central Board of Indirect Taxes & Customs (CBIC) has taken a new initiative to introduce its flagship “Liberalised MSME AEO Package” for Micro Small and Medium Enterprises (MSMEs). In order to attract MSMEs to become Authorised Economic Operators …
UIDAI has issued a warning regarding Aadhaar card. UIDAI has said that people holding Aadhaar cards should not share their information on any social media platform. This mistake can be overwhelming for Aadhaar card holders. UIDAI warns about Aadhaar card Actually, someone wrote his own information related to Aadhaar on social media. On this, UIDAI …
With the opening of the new year (January 1, 2021) there have been many changes. One of these changes is about MF Investments. If you also invest in mutual funds, then it is important to know those five major changes that have come into effect from today. Market regulator SEBI (SEBI) has made some new …
The gross GST revenue collected in the month of December 2020 is ₹ 1,15,174 crore of which CGST is ₹ 21,365 crore, SGST is ₹ 27,804 crore, IGST is ₹ 57,426 crore (including ₹ 27,050 crore collected on import of goods) and Cess is ₹ 8,579 crore (including ₹ 971 crore collected on import of goods). The total number of GSTR-3B …
Issuance by Authorised Branches of State Bank of India (SBI) during January 01-10, 2021 The Government of India has notified the Electoral Bond Scheme 2018 vide Gazette Notification No. 20 dated 2nd January 2018. As per provisions of the Scheme, Electoral Bonds may be purchased by a person (as defined in item No. 2 (d) of …
According to the income tax law, if you deposit money in your wife’s account every month as a home expense, then it is not wrong. But in some circumstances it starts showing as the income of the wife. And then tax has to be paid. Let’s know what the tax experts say about this The …
LTC Cash Voucher Scheme can prove effective in saving Income Tax On 12 October, the central government announced an income tax-free cash voucher to its employees in lieu of LTC. Employees can use these vouchers to buy products on which the GST rate is 12 percent or more. The objective of this initiative is to …
Document certain notified taxpayers have been preparing and issuing invoices by obtaining Invoice Reference Number (IRN) from Invoice Registration Portal (IRP) (commonly referred as ‘e-invoice’). Details from such e-invoice are be auto-populated in respective tables of GSTR-1, and GSTR-1 is a part of GST. Due to some unanticipated issues, there has been delay in auto-population …
Savings are a good habit, but can only your savings fulfill your future needs, then the answer is yes, if saving in a smart way, you can fulfill your life goals. Can. Like suppose you want to become a millionaire. For this, which investment option will you have to choose to become a millionaire as …
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has clarified this in its recent order. This will allow accurate calculation of capital gains or losses. The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), in its recent order on the tax on capital gains from the sale of houses, has clarified that …