Despite passing of almost 3 years since the enactment of GST laws, many mistakes are still being committed by GST tax payers while filing GST returns particularly GSTR3B and GSTR1. These mistakes are generally committed either due to negligence, oversight or due to lack of conceptual clarity on various provisions of the GST Acts and …
22 common mistakes in preparation & filing of GSTR-3B & GSTR-1 Read More »
Central Board of Direct Taxes (CBDT) has recently notified the Income-Tax Return (ITR) Forms ITR-1 To ITR-7 & manner of furnishing Return of Income for Assessment Year (A.Y) 2020-21 vide Notification No. 31/2020 dt 29/05/2020. ITR-1 and ITR-4 have also been made available for e-filing on the e-filing portal i.e. incometaxindiaefiling.gov.in Read more at: https://taxguru.in/income-tax/important-itr-1-form-a-y-2020-21.html
A new scheme of taxation has been introduced by the Finance Act ,2020 by insertion of a new Section 115BAC. The basic feature of this new tax regime is lower tax rates as compared to existing slab rates but on the other hand the assessee has to forego around 70 exemptions and deductions presently available. Click here …
New Scheme of Taxation U/S 115BAC of Income Tax Act, 1961 Read More »
