GSTN, the common GST site, continues to issue warnings on new functions / updates on the portal for functional upgrades and additional options or functions that taxpayers can implement. GSTN has issued the following advisory regarding various compliances...
According to the Income-tax Act of 1961, a senior citizen is someone who is 60 years or older but under the age of 80. A super senior citizen is someone who is 80 years or older. This page quickly describes all of the income tax provisions that apply to r...
The GST Act makes no provision for filing updated returns. As a result, once filed, GSTR-1 and GSTR-3B cannot be changed. Any necessary revisions, additions, or reductions in outbound supplies, Input Tax Credit (ITC) claims, and other fields, such as the...
The Indian government has taken major steps to improve the country's investment climate, resulting in a spectacular rise in the World Bank's Ease of Doing Business ranking from 142nd in 2014 to 63rd in 2022, as recorded in the World Bank's Business Report...
This quote "With great power comes great responsibility," the aforementioned quote holds persuasive value in the current scenario, in which, on the one hand, senior officials of a company, such as Directors, have the authority to make important decisions...
Unlisted shares, which are commonly linked with private enterprises and startups, provide distinct tax problems. This article discusses how to calculate capital gains, the filing requirements for Income Tax Returns (ITR), and the numerous tax implications...
On May 10, 2024, the Insolvency and Bankruptcy Board of India (IBBI) published a discussion paper titled "Strengthening the process of issuance of record of default by Information Utility". The paper proposes changes to the IBBI (Information Utilities) Re...
Due diligence and financial audits are similar in many aspects. Beyond that, both procedures differ greatly from one another, even though they both let stakeholders or possible investors understand more about a business....
In today's rapidly evolving business landscape, ethics have become more crucial than ever before. As companies strive to meet the demands of shareholders, consumers, and regulatory bodies, navigating the complex realm of business ethics has become both a...