The office of the Principal Chief Commissioner of Income Tax, Ahmedabad has notified vacancies for the post of Income tax Inspector, Tax Assistant, and Multi-Tasking Staff. The application process will commence on October 1 and the last date for the submission of the application form is October 15. interested candidates can submit their application through […]
Category: BUSINESS
Posted inINCOME TAX
Income Tax Portal Advisory: Check Bank Account validation Status For Refund
Check Bank A/c validation Status For Refund. Has your bank merged with another bank? Has your bank branch changed? Has your bank account number changed? Has Your name in Bank Account changed? Has your bank account closed or become inactive? Has IFSC Code of your bank account changed? IF YES…. You need to Update/ Revalidate […]
Posted inGST
Important Updates on GST: E-Way Bill, Electronic Credit Reclaimed Statement, Provisional Attachment, AAR & Judgements
GST WEEKLY UPDATE : 24/2023-24 (10.09.2023) The GST E-way bill system has issued an Update dated September 05, 2023 stating that, As per the Notification No. 78/2020 dated October 15, 2020, the taxpayers, having Aggregate Annual Turn Over (“AATO”) above Rs 5 Crore, shall use atleast 6 digit HSN code in the e-Invoices and e-Waybills and other taxpayers shall […]
Posted inMARKET
L&T Joins the Buyback Race, Sets New Price
The company has become the second one in recent times after BSE Ltd. to revise its share buyback price. Tuesday, September 12 is the record date for the company’s buyback. The exact timeline of the opening and closing of the buyback issue is yet to be declared. L&T had announced a share buyback worth Rs […]
Posted inINCOME TAX
Tips for Tax Savings through Real Estate Investment
Sometimes, the income tax burden can prevent you from making maximum savings or investments in life. Hence, there are several tax-saving strategies you can adopt to keep your share of income. While there are several tax exemptions in the Income Tax Act, investing in real estate can be one of the most efficient methods of […]
Posted inBUSINESS
PNB launches app to provide instant loans to MSMEs using GST invoices
State-owned Punjab National Bank (PNB) on Wednesday said it has launched a mobile application based on the GST Sahay scheme, an end–to-end digital product under which lending can be done using GST invoices.Punjab National Bank (PNB) on Wednesday announced the launch of a mobile application based on the GST Sahay scheme.With this integration, PNB has […]
Posted inBUSINESS, GST
Advisory for applicants where GST Registration application marked for Biometric-based Aadhaar Authentication
Dear Taxpayers, 1.Rule 8 of CGST Rules had been amended to provide that those applicants who had opted for authentication of Aadhaar number and identified on the common portal, based on data analysis and risk parameters, shall be placed for biometric-based Aadhaar authentication and taking photograph(s) of the applicant. 2.Pilot for implementation of the above […]
Posted inBUSINESS, GST
Important Case Law Alert
No GST Credit note required when goods were returned even before being received by recipient: HC Author’s Comment: There is a difference between Supply as per GST and Movement of Goods. Tax Invoice, Credit Note/ Debit Note would be required when Supply is involved. E-way bill is for Movement of Goods. There can be a […]
Posted inINCOME TAX
5 notices related to income tax that salaried individuals can receive
Income Tax Return (ITR) for the financial year 2022-23, it is possible that you might have received an income tax intimation or notice at your doorstep for various reasons. Below are the kinds of notices under various sections of the Income Tax Act one can expect depending on the anomaly while filling out the ITR […]
Posted inBUSINESS, INCOME TAX
Is your income tax refund delayed? Check reasons and solutions for ITR refund delays
Income tax refund: The deadline for filing income tax returns was set for July 31, 2023, after which penalties are applicable. There’s a window for filing with penalties until December 31. Individuals with an annual income below Rs 5 lakh will face a fine of Rs 1,000, while those with higher incomes will incur a […]