Wide range of modes for payment on Income Tax website

Post author:Shivani Jain
Post published:August 7, 2022
Post category:Income Tax
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As per the latest news on e-filing website on Income Tax, now there are many option to pay taxes on portal. This is a great relief for taxpayers who does not have Internet banking or…

MCA- Company e-Filings on V2 portal will be disabled

Post author:WhyTax
Post published:August 6, 2022
Post category:MCA
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As per update, MCA is launching new Company Forms on V3 Portal. Due to same MCA site to remain disable from 15.08.2022 to 31.08.2022 for Company related forms filing. So, Make plan accordingly to complete…

GST on Renting of Immovable Property

Post author:WhyTax
Post published:August 5, 2022
Post category:GST
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Overview of GST on renting out a property According to the GST Act, renting out an immovable property would be treated as a supply of services. GST on Rent is taxed @ 18% of the…

GST Compliance Calendar for August 2022

Post author:WhyTax
Post published:August 4, 2022
Post category:Due Dates GST
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GST Compliance Calendar for August 2022 Form Due Date Compliance Details GSTR -7 TDS return under GST 10-Aug-22 GSTR-7 is a return to be filed by the persons who are required to deduct TDS (Tax…

Due Dates- Income Tax- August 2022

Post author:WhyTax
Post published:August 3, 2022
Post category:Income Tax
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Important Due Dates Income Tax for August 2022 7 August 2022 - Deposit of Tax deducted/collectedDue date for deposit of Tax deducted/collected for the month of July, 2022. However, all sum deducted/collected by an office…

E-Invoice limit Reduced to Rs. 10 crores

Post author:WhyTax
Post published:August 2, 2022
Post category:GST
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CBIC Vide Notification No. 17/2022–Central Tax dated 01.08.2022 has revise the E-Invoice limit to Rs. 10 crores from Rs. 20 crores. This notification will take effect from 01st October 2022. Therefore from 01.10.2022 E-Invoice will be…

Reduction of time limit for verification of Income Tax Return (ITR)

Post author:WhyTax
Post published:August 1, 2022
Post category:Income Tax
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CBDT vide Notification No. 05/2022 dated 29.07.2022 has reduced the time limit for verification of Income Tax Return (ITR) from 120 days to 30 days. This Notification shall be applicable for electronically transmitted Income-tax return…

Unresolved issue of ITC on Demo Cars

Post author:admin
Post published:July 29, 2022
Post category:GST
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Introduction Our country has moved in a new indirect tax regime five years back called the Goods & Services Tax (GST). It was established on the principles of destination-based consumption tax wherein credit of tax…