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Income Tax: CBDT notifies Amended Rules and Forms for TDS [Read Notification]

The Central Board of Direct Taxes ( CBDT ) notified the Income Tax (17th Amendment) Rules, 2021 which further amends the Income Tax Rules, 1962. ...

ITC Checklist to be followed by GST Taxpayers before finalizing Books of Accounts

NSDL releases New Features in e-TDS, TCS

Income Tax & GST Compliance Calendar for May 2021

Govt advises Suppliers selling Goods and Services through E-Commerce Platform to pay Tax Dues

CBIC reminds E-Commerce Operator who TCS to file GSTR-8 Return by March 10, 2021

The Central Board of Indirect Taxes (CBIC) directed E-Commerce Operators who are required to collect Tax at Source (TCS) under GST to file GSTR-8 Return for the month of February, 2021 by March 10,...

TCS on E-Commerce Operators: CBIC reminds due date of filing GSTR-8 Return

The Central Board of Indirect Taxes and Customs ( CBIC ) has reminded all taxpayers about the due date of filing GSTR-8 Return. The CBIC had notified that the e-commerce operators shall collect one...

Budget 2021 proposes Levy of TDS on Purchase of Goods [Read Finance Bill]

The Union Budget proposes to levy a TDS of 0.1% on a purchase transaction exceeding Rs. 50 lakhs in a year. Such deduction shall lie only on the persons whose turnover exceeds Rs. 10 crores. The...

Budget 2021 - Levy of TDS - Purchase of Goods - taxscan

Budget 2021 Rate of TDS/TCS would be doubled for Non-Filers of Returns [Read Finance Bill]

The Union Budget 2021 has introduced new special provisions to the Income Tax Act, 1961. The new provision is expected to discourage the practice of not filing returns by the ‘specified person’ whose...

Budget 2021 - Rate of TDS - TCS - Non-Filers of Returns - Taxscan

GSTN issues Advisory on Auto-population of E-Invoice details into GSTR-1/2A/2B/4A/6A

The Goods and Services Tax Network ( GSTN ) has issued the advisory on Auto-population of E-Invoice details into GSTR-1/2A/2B/4A/6A. Certain notified taxpayers have been issuing...

All you want to know about Communication between Recipient and Supplier Taxpayers on GST Portal

The Goods and Service Tax Network (GSTN) has enabled the new facility of “Communication between Taxpayers” on the GST portal. After the introduction of this facility, the supplier and recipient...

Levy of Penalty for non-filing of quarterly TDS Statement in Form 27EQ is invalid: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Allahabad Bench held that levy of penalty for non-filing of quarterly TDS Statement in Form 27EQ is invalid. The assessee, District Mining Officer has...

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