# tan
14 posts in `tan` tag
Time Of Supply GST Act 2017 Detailed Guide
These time of supply rules are crucial for businesses and tax authorities to ensure that GST is paid promptly & accurately. This article provides a detailed exploration of the concept of time of supply under the GST Act of 2017.
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By Krishna
What Is Tax Audit Understanding Applicability
A tax audit under the Income Tax Act becomes compulsory when the annual gross turnover or receipts exceed a specified limit. Chartered accountants, as defined in Section 44AB of the Income Tax Act, 1961, conduct tax audits.
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By Krishna
TIN TAN VAT PAN DSC DIN Detailed Comparison
Among these, TIN, TAN, VAT, PAN, DSC, and DIN are frequently encountered. All of these have different purposes and are essential for individuals and businesses alike. Let's delve into the differences and importance of each of these alphanumeric codes.
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By Krishna
AI Notice Mitra Simplifying Income Tax Notices
The platform aims to make things easier for taxpayers by using advanced AI tools to detect possible reasons for income tax department notices.
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By Krishna
Challenges Ahead: Online Money Gaming Firms Grapple with Rs 45,000 Crore GST Tax Demand at 28%
The debate over whether online gaming is skill-based or chance-based has sparked discussions. Some companies argued for the lower 18% tax rate by categorizing their activities as skill-based.
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By Krishna
Unlocking Business Insights: The Vital Role of Audits
Audit documentation records procedures conducted, evidence obtained, and conclusions collected as part of an audit process. However, audit documentation also includes the conclusions that auditors collect based on their work.
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By Krishna
Itr Filing Deadline consequences importance file on time benefits drawbacks
If an individual earning income misses the ITR filing deadline, they can still do so by paying a late fee. The late fee is Rs. 5,000 for an annual taxable income of Rs. 5 lakhs or more, and Rs. 1,000 for taxable income below Rs. 5 lakhs.
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By Krishna
The Importance of Timely ITR Filing: Benefits and Drawbacks Explained
In the next step, the taxpayer is required to summarize his TDS amount from the TDS certificates (Form 26AS) received by him all 4 quarters of the assessment year.
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By Krishna
Demystifying Section 54F of Income Tax Act: Capital Gains Tax, Indexation, and Benefits Explained
Indexation is a method that accounts for inflation from the time of asset purchase to its sale. It adjusts the purchase price of the investment, thereby reducing the overall taxable capital gain amount.
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By Krishna
Key Deadlines in July 2023: ITR Filing, EPFO Pension, and TDS
Whether you are an individual taxpayer, a pension beneficiary, or an employer, staying informed about these deadlines will help you navigate the financial landscape smoothly and stay on the right side of the law.
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By Krishna
Chennai ITAT Eliminates Addition: Hospital-Consultant Doctor Relationship Clarified
However, the Commissioner of Income Tax (Appeals) CIT (A) determined that the consultant doctors employed at the hospital had individually obtained professional indemnity insurance policies at their own cost.
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By Krishna
Steps To Pay Income Tax: ITR Filing For Individuals
Filing income tax can seem troublesome, but online platforms have made it easier and more convenient. Filing income Tax has been now more accessible than before.
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By Krishna
Extension of ITR due date not applicable to assessees subject to audit under other acts
The Income Tax Appellate Tribunal (ITAT) has ruled that the extension of the income tax return (ITR) due date for cases requiring tax audit cannot be applied to assesses who are liable for audit under any other Act.
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By Krishna
Statutory & Compliance Calendar For May 2023
The tax calendar is a crucial tool that helps people and organizations stay compliant by keeping them informed of their duties and deadlines related to taxes.
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By Krishna