TDS is introduced in GST w.e.f. 01.10.2018: All about TDS in GST Law

TDS is introduced in GST w.e.f. 01.10.2018: All about TDS in GST Law GST Law mandates Tax Deduction at Source (TDS) vide Section 51 of the CGST/SGST Act 2017, Section 20 of the IGST Act, 2017 and Section 21 of the UTGST Act, 2017. GST Council in its 28th meeting held on 21.07.2018 recommended the […]

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Due date for filing ITR extended to 31st Oct 2018 for audit cases.

CBDT further extends due dt for filing of IT Returns & audit reports from 15th Oct,2018 to 31st Oct, 2018 for all assessees liable to file ITRs for AY 2018-19 by 30.09.2018, after considering representations from stakeholders. Liability to pay interest u/s234A of IT Act will remain same. Click here for notification.

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Due date for Filing ITR extended to 15-09-2018 in case assessees in State of Kerala

In view of disruption caused due to severe flood in Kerala, CBDT extended due date for ITR from 31st August 2018 to 15th September 2018 in case of Income tax assessees in state of Kerala who were liable to file their Income tax return by 31st August 2018. Click here to download order

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Clause 30C & 44 of Tax Audit report is kept in abeyance till 31st march 2019

On 17th August 2018, CBDT issued order under section 119 of Income Tax Act 1961 that reporting under clause 30C & 44 (i.e. GST and GAAR Reporting under Amended Tax audit report) of the tax audit report shall be kept in abeyance till 31st March 2019. Therefore Tax audit reports to be furnished on or […]

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In A New Record, Rs 10.03 Lakh Crore Collected As Income Tax In 2017-18

In a new record, Income Tax worth Rs 10.03 lakh crore was collected during 2017-18, the Central Board of Direct Taxes (CBDT) said on Friday (17 August), reports Press Trust of India. A record has also been set when it comes to the number of Income Tax filings. During a two-day conference of Income Tax […]

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Key Features of Draft GST simplified returns formats issued by CBIC on 30th July 2018.

The GST Council in its 28th GST Council Meeting held on July 21, 2018 under the Chairmanship of Shri Piyush Goyal, Union Minister for Railways, Coal, Finance & Corporate Affairs has approved the new return formats. The Council had earlier approved the basic principles of GST return design and directed the law committee to finalize the […]

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