The GST Council, headed by Union finance minister Nirmala Sitharaman and comprising representatives of all states and UTs, is meeting after a gap of six months. The GST Council is likely to makes changes in goods and services tax rates on a handful of items during the two-day meeting in Chandigarh starting Tuesday. But the …
GST Council meet: States’ compensation, tax tweaks on cards | 5 points Read More »
[ad_1] The net direct tax collections till mid-June this fiscal increased 45 per cent to over Rs 3.39 lakh crore, buoyed by decent advance tax mop-up, the Income Tax department said on Friday. The net direct tax collection of over Rs 3.39 lakh crore includes Corporation Tax (CIT) at over Rs 1.70 lakh crore and …
Net direct tax mop-up rises 45% to over Rs 3.39 lakh cr till mid-June Read More »
[ad_1] The total tax liability for any taxpayer is arrived at after taking into account the income earned from various sources. As per section 208 of the Income Tax Act, every person whose estimated tax liability for the year is Rs. 10,000 or more, has to pay his tax in advance, in the form of …
Steps to calculate advance tax liability for paying the 1st installment by June 15 Read More »
[ad_1] Form 10BD and 10BE for availing tax deduction under Sec 80G as the deadline approaches on 31st May 2022. As per the enforcement of the amendments to the Income Tax Act 1961, from FY21-22, the method for availing tax deduction under Section 80G on donations made to NGOs has changed. Dhaval Udani, Founder and …
[ad_1] The Gujarat High Court ruling that actual value of land should be deducted before levying GST on under-construction flats would reduce the tax outgo for homebuyers, provided the contractual arrangement transparently denotes the land value, experts said. Currently, GST is levied on sale of under-construction flats/units wherein the entire value of flat or unit …
