# taxes
11 posts in `taxes` tag
Import Duties Guide Custom Taxes India
In recent months, India has introduced a significant change in its tax system by implementing Goods and Services Tax (GST). GST is a destination-based tax system, meaning that consumers bear the tax burden when they utilize goods and services.
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By Krishna
What Is Tax Types Of Taxes How Does Taxation Work
The way of collecting tax in India is categorized into 2 parts. The first is Indirect tax and the other one is direct tax.
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By Krishna
Newly Established Manufacturing Cooperative Societies 15 Percent Reduced Tax Rate CBDT
Starting from the assessment year that begins on April 1, 2024, if you're a cooperative society based in India and you need to choose in line with the requirements of section 115BAE(5), you should use Form No. 10-IFA.
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By Krishna
what is form 16 when issued employees itr filing
Form 16 is a TDS certificate given by employers to employees, indicating the tax deducted from salary income during a financial year. It helps employees with their income tax return filing.
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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
Automated GST Scrutiny to Result In Notices For Data Discrepancies
According to experts, the recent implementation of automated scrutiny of Goods and Services Tax (GST) returns by the central government may result in taxpayers receiving notices when there are discrepancies between various types of tax returns.
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By Krishna
CBIC rolls out Automated Return Scrutiny Module for GST returns
During a performance review of the Central Board of Indirect Taxes & Customs (CBIC), Finance and Corporate Affairs Minister, Smt. Nirmala Sitharaman instructed the swift implementation of an Automated Return Scrutiny Module for GST returns.
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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
TDS deduction on interest income and how to prevent it
To Avoid Tax Deducted at Source (TDS) on incomes like rent and interest, taxpayers can submit form 15G or 15H to the relevant individual or organization, including banks, post offices, and corporate bond issuers. Form 15G is for individuals below 60, whereas 15H is for senior citizens.
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By Krishna
5 Best Tax-Saving Investments That Everyone Must Know
Tax saving is an integral part of being a salaried individual or self-employed as it can provide deductions under section 80C. These deductions play a vital role while planning your tax-saving. People are generally found perplexed when it comes to investing in these securities due to less knowledge about the returns, and risks pertinent to the various investments.
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By Krishna
Income from House Property and Taxes
Income tax is payable on the 'Net Annual Value (NAV)' of these properties under 'Income from House Property'. If a house is self-occupied,...
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By Krishna