Documents required for GST registration in India
The documents required for GST (Goods and Services Tax) registration in India depend on the type of business entity. Here is a list of documents required for different types of entities:
Individuals: File Income Tax Returns in 10 Steps
Filing your income tax return (ITR) as an individual can seem overwhelming, but with proper guidance, the process can be simple and hassle-free.
GST Department Set to Access Banking Transactions of Taxpayers: A Move Towards Curbing Tax Evasion and Improving Compliance
The Goods and Services Tax (GST) is an indirect tax levied on the supply of goods and services in India. It was implemented on July 1, 2017, and has since been a critical source of revenue for the government. The GST department has been making efforts to streamline the tax collection process and plug revenue leakages. In a significant move towards this goal, the GST department is set to get access to banking transactions of taxpayers.
Special Drive Against Fake GST Registration and Bogus Firms
The Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services in India. The GST Department has been striving hard to ensure that only genuine taxpayers are registered under the GST regime. However, there have been instances where fake GST registrations have been made, causing huge revenue losses to the government.
Tax Consultant for Individuals: Why Hiring One is a Smart Choice
Tax season can be a daunting time for many individuals, particularly those who are not well-versed in tax laws and regulations. With the constant changes in tax laws and the complicated nature of tax filing, it can be a real challenge to navigate the process on your own. This is where a tax consultant for individuals comes in handy
Input Tax Credit on Food Items
As a business owner, understanding input tax credit (ITC) can help you save money and streamline your tax filing process. In this blog, we will discuss ITC on food items, which can be a significant expense for many businesses.
Works Contract under GST
The term “works contract” has a limited scope under the GST regime and is applicable only to contracts related to the construction, fabrication, or similar activities for immovable properties. Any composite supply involving goods, such as a paint job or fabrication work carried out in an automotive body shop, does not fall under the purview of a works contract for GST purposes.
8 Steps to View/Download Form 26AS
Form 26AS is a crucial document that outlines the specifics of any sum that has been deducted from a taxpayer’s income as TDS or TCS from a variety of sources. Additionally, it provides information on the amount of advance tax or self-assessment tax that has been paid, as well as any high-value transactions that the […]
Why it is Important to check Whether Employer is depositing you TDS to Government?
TDS or Tax Deducted at Source is a direct tax mechanism introduced with the aim of collecting tax from the very source of income. The government uses TDS to minimize tax evasion by taxing the income partially or wholly at the time it is generated rather than at a later date.
9 Deductions under Section 80C of Income Tax Act 1961
Section 80C of the Income Tax Act, 1961, provides various tax-saving options to individuals. One can save up to Rs. 1.5 lakh per year through investments under Section 80C. These investments not only help in saving taxes but also aid in wealth creation. Let’s look at some of the top investments under Section 80C.
