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To enable taxpayers to efficiently address invoice corrections/amendments with their suppliers through the portal, a new communication process is being brought at portal. This will also facilitate taxpayer in matching of their records/invoices vis a vis issued by their suppliers for availing the correct Input Tax Credit (ITC). GSTN is in the process of developing a new functionality called Invoice Management System (IMS) which will allow the recipient taxpayers to either accept or reject an invoice or to ke

The revised TDS rate effective from 23.07.2024 on the Sale of property, the transfer of which took place on or after 23.07.2024

Employers are required to issue Form 16 every year on or before June 15. Following this, Salaried individuals can thus hasten the submission of their income tax returns. Form 16 is an important document for filing income tax returns (ITR), particularly for salaried individuals. Employers are responsible for providing their employees with Form 16 at the end of every financial year. This important document indicates the amount of tax deducted from an employee’s pay, which has then been submitted to the gov

TDS/TCS RETURN FILLING DETAILS

Taxation in India refers to the system by which the government collects revenue from individuals and businesses to fund various public services and infrastructure projects.