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Do you have an Indian nationality with an annual gross taxable income exceeding Rs 250000? Do you have any moveable or immovable property here? If it is then you ought to furnish an ITR every year. New assessee might get confused when they furnished an income tax return for the first time . But online media would have incurred the process easier. ITR E-filing ITR is directed to the annual statement that tells you about the tax heads of your income. The same revenue could arrive from a wage, capital gains, business income, house rent, or through additional sources. If you are filing your ITR for the first time then you can read the article where the process for the same is mentioned. The ITR e-filing process is easier and faster and this could take place from an individual's home or office. Via electronic means, you could save money by filing your ITR as you do not require to hire any other person who does it for you. Filing taxes would be simpler than it seems. Below is the procedu...

The first note the person who is supposed to deduct the taxes fails to do so, then the assessee will be considered to be in default. The second note. If the AO determines that the default was due to good and sufficient reasons, a penalty will not be imposed. Here, we included complete details of the after-effect due to non-payment and non-filing of TDS/TCS returns: Read also: TDS Online Payment Procedure, Due dates, and Forms: Ultimate Guide After Effect Due to Non-filing of Returns and Non-payment of TDS/ TCS Section Nature of Default Effect Section 271C of IT Act Taxes are not deducted in full or in part The Joint Commissioner may impose a penalty equal to the amount of tax that such a person failed to deduct or pay. Section 276B in The IT Act,1995 Deduction of tax at source but failure to pay Fined and imprisoned for a period not less than 3 months but not more than 7 years. Section 276BB Taxes collected at source that are not paid Fine and rigorous imprisonment for a term of not...

The deadline for filing income tax unaudited returns has passed, and those who filed their returns have had their refunds or are still waiting for them. While filing my I-T return, I often make some common errors like entering incorrect bank details, filing the wrong ITR form, and mismatching my Form 26AS with my ITR. Taxpayers can edit their ITRs to fix such errors when filing revised ITRs. For this purpose, they can log in to the income tax e-filing portal using the URL https://www.incometax.gov.in/iec/foportal. By Section 139 (5) of the Income Tax Act, 1961, a taxpayer can revise the original ITR and file a revised income tax return . According to tax expert Jitendra Solanki, "In accordance with Section 139(5) of the Income Tax Act, 1961, taxpayers can file a revised return and update the data on the original return. ITRs can be revised even after the due date, which is 31st July 2022." According to Solanki, one can file a revised ITR online. A revised return can be filed ...

  Eligibility of ITC for the case of partial damage goods or goods sold at the lower costs Is there any need for a reversal of ITC for the case in which the goods were destroyed partially or sold at lower costs? Learning the GST law and the recent judgment. According to Section 17(5) of the CGST Act, no input credit would be permitted for the goods "destroyed or Lost" The Extraction of Section 17(5)(h) of the CGST Act 2017 is Quoted Below Apart from that anything comprised in sub-section (1) of section 16 and subsection (1) of section 18, GST ITC will not be available towards the below-mentioned things: Goods lost, stolen, destroyed, written off, or disposed of through the way of gift or free samples; and. The Dictionary sense of destroyed is specified under. “to damage something so badly that it cannot be used:” (Ref- https://dictionary.cambridge.org/dictionary/english/destroy) Some of the Examples of the Words Destroyed Would be Specified Under Most of the traditional part...

Taxpayers using the e-filing portal of the Income Tax department can correct any errors when filing income tax returns (ITRs). If users filing the incorrect information are entered, taxpayers, besides receiving a legal notice from the income tax department, also risk losing their income tax refunds. Such as salaried people should, they can be extremely careful while filing/her income tax return and after then submitting the tax return, check if all tax information regarding the form were correct, and rectify errors if any. Read also:   Simple Way to e-file Tax Rectification Request U/S 154 on Portal In some cases, taxpayers can also check up on the rectification status on the new Govt portal. Let’s follow some important steps such as: Go to https://www.incometax.gov.in/iec/foportal new portal In this second step, click on ‘ITR portal dashboard’ and then 'Services', 'Rectification Request' and Rectification Status'. In this third step, click on ‘Rectification Reques...

Bangalore is the coolest city in India. It is known as IT hub city, every day opens a new IT company and grows on a big scale and face the tax issues, to handle such problems, each company hires the CA. Tax-related issues on account of many companies are ready to hire the fresher and experienced. It is a golden chance for those people who waited for an excellent job offer , to grow in the future. If your study of CA is completed, then this post is very helpful for you. Let's come to find your suitable jobs with a good salary in Bangalore city. First, discuss the fresher jobs and after we discuss the jobs for experienced. Let's see the CA jobs in Bangalore . Openings for Fresher & Experienced Person:- Company Name:  Acctpro Advisory Services LLP Location: Chennai, Bangalore/Bengaluru Experience: 0 - 5 Years Salary: Not Disclosed Industry: Accounting / Auditing Functional Area: Finance & Accounting Role Category:  Accounting & Taxation Role: Cha...