Form DRC-03A is live now on GST Portal for adjustment/setoff of voluntary payment against the order of demand Form DRC-03A for adjustment/setoff of voluntary payment against the order of demand, introduced vide Notification 12/2024, has…
Simplify tax compliance! With Form 12BAA, employees can declare TCS credits to employers, who then adjust TDS based on taxes collected on additional income (e.g., foreign tours). This update, effective Oct 2024, ensures accurate deductions…
The deadline to submit income tax audit reports on the e-filing portal is approaching. Taxpayers required to undergo a tax audit must upload their reports by September 30, 2024. Missing this deadline could lead to…
✅The due date for assessees under clause (a) of Explanation 2 to Sub Section (1) of Section 139 has been extended from October 31, 2024, to November 15, 2024. ✅Circular No. 13/2024 dated 26.10.2024 issued.
Important GSTN Update: From January 2025 tax period, the GST Portal is going to restrict making changes in auto-populated values in pre-filled GSTR-3B from GSTR-1/1A/IFF or GSTR-2B to further enhance accuracy in return filing system.…
Many Partnership firms put this clause in their Partnership deed so that they can give salaries to their Partners as per the Income Tax Act. Now with the change by Finance Act 2024, the same…
CHANCES THAT GSTR 9 AND 9C FILING WILL BE STARTED BY END OF THE DAY
Advisory issued regarding availability of New Invoice Management System (IMS) from 14.10.2024 The GSTN has issued an Advisory dated 14.10.2024, regarding availability of New Invoice Management System (IMS) from 14.10.2024. The new system shall facilitate…