Rule 9D provides for separate accounts to be maintained within the provident fund from this fiscal year
So far certain faceless assessees were required to authenticate records separately through digital signature
CBDT has issued Form 12BBA, which will be the declaration required to be filled out by the taxpayer when claiming exemption.
The finance ministry said that with the easing out of Covid restrictions, GST collection for July and August 2021 have again crossed Rs 1 lakh crore.
I-T department between April 1 and August 25, 2020, had issued refunds of over Rs 95,853 crore
The refunds of over Rs 47,318 crores would be issued to more than 22.61 lakh taxpayers between April 1, 2021, and August 9, 2021
The buoyancy in the tax mop-up is attributed to the “overheated market.”
Some taxpayers complained that interest and late fee was charged while filing income tax return (ITR) after July 31, 2021
A total of 77 individuals had disclosed a gross total income of more than Rs 100 crore (one billion rupees) in a year in the income tax return filed
All the taxpayers must maintain all the necessary supporting documents to justify the transactions in case of any IT notice being served