TAX

The GST Council may also take a decision on the GST levy on casinos, online gaming and horse racing, and rate rationalisation and cryptocurrencies

The income tax department on its Twitter handle has been reminding people to file taxes by July 31 as there will be no extension.

The GST rate hike on essential items will increase the pressure on the common man, who is already reeling under inflationary pressures

Crypto TDS: If the buyer has deducted tax under Section 194S of the Income Tax Act, the seller will not be required to deduct it on the same transaction

The decision was taken during the 47th GST Council meet that was conducted in Chandigarh over two days and chaired by finance minister Nirmala Sitharaman

The Goods and Services Tax (GST) was introduced on July 1, 2017, and states were assured of compensation for the revenue loss till June 2022, arising on account of the GST rollout.

The CBIC said a technical glitch has been reported by Infosys in generation of April 2022 GSTR-2B and auto-population of GSTR-3B on portal.

GST collections in April are Rs 25,000 crore more than the previous highest collection of Rs 1,42,095 crore recorded in March

Ericsson Refund Case: Delhi High court set aside an order by the income tax department to withhold the refund to the company under Section 241A of the Income Tax Act

Nirmala Sitharaman announced a new tax rule for taxpayers where a taxpayer can file an updated return on payment of taxes within two years

A hike in the standard deduction limit is clearly the common man’s top ask of Finance Minister Nirmala Sitharaman in the upcoming Union Budget 2022

Taxpayers can still file their ITRs if they missed the date due to some reason, through a process called 'belated ITR'. However, they need to pay a penalty

There is no proposal to extend the date for income tax return filing. Income tax return filing is going on smoothly, the government said