Tag Archives: #TaxationUpdate

Is ITR filing mandatory?

  Is ITR filing mandatory Filing an Income Tax Return (ITR) is an important responsibility for every taxpayer, but many people often wonder if it is mandatory in every case. The answer depends on various factors such as your income level, age, and sources of income. What is ITR Filing? Income Tax Return (ITR) is… Read More »

When is gst tax due?

Deadlines for GST Tax Payments   The specific deadlines for GST tax payments vary based on the taxpayer’s category and the frequency of their filinga Here are some general guidelines for GST tax due dates in India: Monthly GST Return Filers: For businesses that file their GST returns on a monthly basis, the tax due… Read More »

TDS compliance in tax audit report?

TDS compliance in tax audit report TDS compliance in tax audit report, In the context of a tax audit report, ensuring compliance with TDS (Tax Deducted at Source) is a vital factor that requires attention. Here are some key considerations regarding TDS compliance in a tax audit report: Verification of TDS Deductions: The tax auditor will… Read More »

Definition of GST invoice What is GST invoice?

Definition of GST invoice   Definition of GST invoice, A GST invoice is a crucial document issued by a supplier to the buyer, containing all the necessary details of the transaction in accordance with the Goods and Services Tax (GST) Act in India. It serves as proof of the supply of goods or services and… Read More »

What’s the procedure for closing an inactive GSTIN?

The procedure for closing an inactive GSTIN The procedure for closing an inactive GSTIN to Login the GST portal using your credentials and navigate to the “Services” tab. From the drop-down menu, select “Registration” and then choose “Application for Cancellation of Registration.” Enter the GSTIN of the inactive registration that requires cancellation, along with the… Read More »

What is One Time Tax?

  User Intent Users searching for “One-Time Tax” are likely looking for a clear understanding of what it is, how it works, and its advantages and disadvantages. This article provides a detailed breakdown of One-Time Tax, its applications, benefits, and limitations, along with a comparative table to enhance understanding. Introduction Taxation is an essential part… Read More »