TAX

In 2022-23 financial year, 10.09 crore PAN holders paid taxes for income earned in 2021-22.

In case a DPIIT-recognised startup is picked up for scrutiny on this Angel Tax provision, then no verification of such cases will be done by the assessing officer

52nd GST Council Meeting: The October 7th meeting is anticipated to resolve the legal operational challenges of implementation faced by states

Pidilite Industries says it "reasonably expects" a favourable outcome after it challenges the penalty at the appellate level

Income Tax Refund: For an ITR refund to be processed, it's essential that your bank account is pre-validated.

Here is a detailed understanding of what is angel tax, how it works, and how recent amendments affect investors and corporates

During AY 2022-23, over 2.69 lakh entities, including individuals, companies, firms and trusts, have shown total income of above Rs 1 crore.

The last date to file ITR for the financial year 2022-23 (assessment year 2023-24) is July 31, 2023. There will be no further extension of the deadline.

ITR Filing: The IT department said that an inoperative PAN is not an inactive PAN.

Even as 25 days are left to the ITR AY 2023-24 deadline, a significant number of income tax filers are yet to file the income tax return for the financial year 2022-23

The food or beverages served in a cinema hall is taxable as restaurant service

You can now link your PAN-Aadhaar by paying a late fee of Rs 1,000. After paying the late fee, the individual needs to wait 30 days to renew their PAN cards.

ITR-1 can be filed by an individual having income up to Rs 50 lakh and who receives income from salary, one house property and other sources (interest, etc)

Here are a few important things that first-time taxpayers should know before filing their ITR

ITR Filing: There shall be multiple combinations based on which the required ITR form shall change, therefore the filers have to be very careful.

GST Return: Businesses should ensure that the correct tax rates are applied to the transactions in GSTR-3B and GSTR-1.