GST brings transparency and develops mutual trust between the Revenue and the taxpayers. Most of the compliance process- return filing, registration, and sometimes even proceedings intend to happen without meeting a tax officer in person! Let us now focus on one of GST’s new tools to achieve its objective-an Invoice Reference Number(IRN). Form INV-01 holds […]
The term ‘Audit’. Dictionary meaning of the term ‘Audit’ suggests that it is an official inspection of an organization’s accounts and production of report, typically by an independent body. In this blog, let us understand the following about Income tax audit: Meaning of Tax Audit Objectives of Tax Audit Turnover Limit for Tax Audit Tax
A first-time buyer of a home has to go through a daunting process that begins with searching for the right dream home that fits the budget and aspirations to the even more grueling steps of availing a home loan. Bought residential house property loan?? Avail income tax benefits on the interest portion of the residential
E-Invoicing refers to the process of generating invoices in a digital format that is authenticated by the GST system for specific transactions. It eliminates the need for manual filing of invoices and ensures consistency and transparency in tax compliance. E-invoicing is mandatory for businesses meeting a certain turnover threshold under the GST regime. einvoice1.gst.gov.in or
Income Tax Calculator Income Tax Calculator Total Annual Income (₹): Deductions under Section 80C (₹): LIC Premium: PPF (Public Provident Fund): NSC (National Savings Certificate): ELSS (Equity Linked Savings Scheme): Senior Citizens Savings Scheme: Deductions under Section 80D (₹): Health Insurance Premium (Self): Health Insurance Premium (Family): Health Insurance Premium (Senior Citizens): Home Loan Interest
Amendment of Seventh Schedule to Act 18 of 2005 In the Finance Act, 2005, in the Seventh Schedule, tariff item 2106 90 20 and the entries relating thereto shall be omitted. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration
The Union Budget is one of the most anticipated events in India’s fiscal calendar, and it plays a crucial role in shaping the nation’s economy. This page will provide all the essential details you need to know about the Union Budget 2025, including the date, time, and other important information. Union Budget 2025: Date &
Provision for suits, etc., for which the prescribed period is shorter than the period prescribed by the Limitation Act, samvat 1995 Notwithstanding anything contained in this Act, – (a) Any suit for which the period of limitation is shorter than the period of limitation prescribed by the Limitation Act, Samvat 1995, may be instituted
Amendment of section 200A In section 200A of the Income-tax Act, with effect from the 1st day of April, 2025,— (a) in the marginal heading, for the word “source”, the words “source and other statements” shall be substituted; (b) after sub-section (2), the following sub-section shall be inserted, namely:— “(3) The
Amendment of section 194 In section 194 of the Income-tax Act, after the word, brackets and letter “sub-clause (e)”, the words, brackets and letter “or sub-clause (f)” shall be inserted with effect from the 1st day of October, 2024.
CA Bhuvnesh Kumar Goyal
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