Recap of Latest updates posted on 27.07.2024
I-T returns filing: CBDT engaging closely with service providers for proper functioning of portal
At a session organised by the chartered accountants’ apex body ICAI to discuss the 2024-25 Union Budget in the national capital on Wednesday, a chartered accountant flagged concerns about glitches in the I-T portal.
Tax portal glitches galore: 49% of India’s taxpayers yet to file ITR
With the deadline for Income Tax Returns (ITR) filing fast approaching on July 31, several taxpayers are facing hurdles in completing the process.
How Budget proposes to change the tax structure & rules for ‘gifts’
Corporate restructuring and reorganisations often involve transactions where assets such as shares of another company are transferred without consideration, typically regarded as ‘gifts’. These transactions have historically enjoyed tax exemptions for the donating entity under section 47(iii) of the Income Tax Act, ToI reported.
Notes on Clauses issued by Income Tax Department
Notes on Clauses issued by Income Tax Department
Feasible & prudent to have three GST slabs: CBIC chief
It is both feasible and prudent to have three tax rate slabs in the GST, he told ET in an interview.
Highlights on Major Changes in GST Proposed in Finance Bill 2024
Author has presented the analysis on section 16, 39, 70, 73, 74, 74A, 107, 112 128A which is amended in the Budget 2024.
FAQs issued by CBDT on the new capital gains tax regime proposed in the Union Budget 2024-25
CBDT issued Frequently Asked Questions (FAQs) on capital gain tax regime
Budget 2024: Wait for tax refund may irk you more
This is one budget proposal that may disappoint taxpayers. Not only has the period of withholding of tax refund been extended, but you may also lose out on interest paid for a delayed refund.
GST Portal downtime 27.07.24
GSTN is enhancing services on the GST portal. GST Portal services will not be available until 27th July’24 06:30 AM