New Ledger of GST Portal: RCM Liability/ITC Statement
To assist taxpayers in accurately reporting Reverse Charge Mechanism (RCM) transactions, a new statement called the “RCM Liability/ITC Statement” has …
tax updates
Finance Act (No.2) 2024 Notified | Download Finance Act (No.2) 2024
The Government has notified The Finance Act (No.2), 2024 on 16th August, 2024, to give effect to the financial proposals …
Did you get Your ITR Intimation u/s 143(1) after ITR filing, know what to do with this
Intimation under Section 143(1) is a formal communication from the Income Tax Department to taxpayers. It is issued after the …
Director DIR-3 KYC: New Change from 1st August 2024
The Ministry of Corporate Affairs (MCA) requires all directors in India to maintain a Director Identification Number (DIN). Previously, obtaining …
Defective ITR Notice 139(9) | How to Correct defective ITR
1. What is a Defective Return?A return may be treated as defective on account of incomplete or inconsistent information in …
RBI allows two users to share one bank account for UPI payments
RBI has introduced a Delegated Payments facility for UPI. This allows the primary user to authorise another individual to make …
New Form MSME-1, When to file and who is to file
This article explains everything you need to know about Form MSME-1, a mandatory filing for companies that owe outstanding payments …
Changes in capital gains tax will benefit most people: CBDT chief
The changes in the capital gains tax announced in the Union budget for FY25 are rational decisions that will benefit …
Budget 2024: Deduction limit increased from 10% to 14%; introduces NPS Vatsalya for minors
One of the government’s objectives is to provide social security benefits to citizens. In Budget 2024, the Finance Minister made …
GSTN New Seamless e-Invoicing: Explore the New E Invoice Portal 2
The Goods and Services Tax Network (GSTN) is set to enhance the e-invoicing landscape with the launch of the integrated …
