ITR-1 cannot be used by the NRI for filing his return of income Generally, every year, the income tax return forms are notified by the central government in the first week of the April month of the assessment year. For example: For the financial year 2018-19, the forms normally issued in April 2019. However, with … Read more Which ITR is applicable for NRI for AY 2020-21
Recently, the Central Board of Direct Taxes (CBDT) has notified two Income Tax Return (ITR) forms which shall be applicable for the assessment year 2020-21. Generally, as per the past experience, it is seen that the tax department issues the new ITR forms in the first week of April of the relevant assessment year. For example: In … Read more Latest Changes made in the ITR-1 (Sahaj) and ITR-4 (Sugam) for A.Y. 2020-21
Overview:- Income Tax Calendar is merely a reminder to recall the Taxpayer for filing the ITR filing or other form compliance within the time as per due dates of Income Tax. If compliance doesn’t make then Taxpayer has to face severe penalties in each different case which are not condonable by the Income Tax department. So in … Read more Income Tax Calendar 2020 for ITR filing
If you are a Resident India Buyer and looking forward to buying an NRI Property, then you are at the right place. The rules and regulations regarding the buying process of NRI property are kinda sophisticated in nature and responsibility of obeying all of these, is expected from the buyer. Therefore, most of the buyers … Read more NRI Property – 7 Mistakes: A Resident Indian Buyer Should Avoid.
GST Notices: – Are your business ready for it? Since the launch of the GST Act, So far it is going on a trust basis, however, as usual, many GST taxpayer seems to be taking Govt and GST department for a ride. We all are well aware of what happens when the trust converts into … Read more GST Notices:– Are your business ready for it?
WHAT IS AUDIT UNDER GST? GST Audit precisely means to examine the records, returns and various other relevant documents that are supposed to be maintained by the registered taxable person. Basically, the objective is to validate that the turnover as declared by the taxpayer, various taxes paid by him, claim for refund and all input … Read more All About Audit in Goods and Service Tax Act.