tax payers

Mukesh Ambani-led Reliance Jio has launched JioGST, which is mobile first GST starter kit for small businesses in order to manage their GST related filings. Priced at Rs 1,999, this starter kit from Jio contains software and hardware…

GST regime is now live across India, and as expected, there are loads of confusion and myths related to the new tax structure across India. Sensing the need and understanding the confusion ensuing all around, Revenue Secretary…

Govt. of India has refused to delay the implementation of GST, and July 1st has been declared as the official date for GST rollout pan India. However, GST Council has understood that some firms may not be ready for GST as of now and…

Since ages, salaried employees have been using one time-tested and reliable method to save tax: House rent paid under House Rent Allowance. But no longer now. In a crackdown on this ‘formula’ to save tax, Income Tax dept. Will now no…

Under the new GST regime, the date of implementation of which is still under doubt, is going softer on culprits of tax evasion and other soft crimes. After a meeting of the GST Council, it has been decided that tax evasion of less…

Effective December 1st, a major change in the service tax regime has been executed which completely turns the table for foreign based service providers and Indian customers. While before, the service charge was dependent on the…

Centre and State Governments have finally reached a consensus on determining the tax rate slabs under Goods and Services Tax Bill. This will help in breaking the barriers which restrained pan-India implementation of GST and in unifying…

Last year in the month of May, Lok Sabha passed the GST Bill, which was hailed as the biggest tax reform of India since Independence. However, due to political reasons, the Bill couldn’t pass the Lok Sabha’s approval since then.…

When Kerala imposed ban on public drinking of alcohol and restricting alcohol to only five star hotels, a lot of people were unhappy with the decision, but in the end it worked out fine for everyone. The state has now imposed another…

Willful tax defaulters in India may face some heat in the coming days as Income Tax Department has decided to take some aggressive steps against them. To start with, IT Dept. will block their PAN Cards, block their LPG subsidies and…

In 2012, Indian Govt. introduced a draconian and regressive tax for startups called ‘Angel Tax’. This was included under Sec 56 (2) of the I-T Act, wherein any capital raised by any unlisted Indian company against share issuance in…

From tomorrow Indians will need to pay more for any kind of services they pay for which includes eating out, traveling, internet services, mobile bills among others. The Krishi Kalyan Cess of 0.5 percent proposed by Finance Minister…

Is Service tax is applicable on my service? This is one of the most important questions that every service provider asks from this legal advisor. Service tax is one of largest revenue source for the Indian government and hence,…

Ever since Finance Ministry decided to impose tax on provident fund withdrawal, there has been intense pressure on the Government to reconsider the decision. Every employee union across the nation, irrespective of their political…

After a lot of criticism in the past two months for the complicated Income Tax mechanism, the Government has rolled out new Income Tax Return forms and Tax filing procedures, this week. The Income Tax Department (ITD) has introduced…

The season of filing Income Tax Return has arrived, and now it’s time to take up the responsibility of filing the tax return seriously. Here is a list of 5 serious errors committed by tax payers which not only affects their tax…

Don’t you dare to forget to check Form 26AS prior to filing your Income Tax Return. Form 26AS, a consolidated tax statement, is issued to PAN holders. Also referred to as Annual Statement or Tax Credit Statement, it has every tax…

I have long wondered why our government doesn’t use some PAN-based information for finding out financial status of individuals. The tool would not only simplify the taxing procedure but would also help in quick tax redressal. As per…

Often when we go for dining at a restaurant and the waiter comes up the bill; there exists much ambiguity and confusion regarding the taxes applicable. Most of the time, in order to avoid embarrassment infront of our guests, we skip the…

An official from Income Tax department has stated that a new methodology would be soon adopted by the Govt., which will enable issuance of Permanent Account Number (PAN) within 48 hours flat. As of now, it usually takes 15-20 days…