# legal
12 posts in `legal` tag
Comprehensive Guide Internal Audits Types Mandatory Compliance
An internal audit is a systematic and unbiased review of an organization's activities, processes, and operations to confirm adherence to policies, laws, and industry standards.
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By Krishna
Income Tax Exemptions Section 10 14 i Closer Look
In the Income Tax Act, Section 10(14)(i) outlines provisions related to allowances and perquisites—benefits provided by employers to employees as part of their salary.
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By Krishna
Income Tax Department Appeals Supreme Court High Court Order Validity
The Income Tax Department is contemplating filing an appeal in the Supreme Court. The process for filing the appeal is in its final stages, and expert opinions are being sought, as per the source.
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By Krishna
November 2023 Highest Year on Year GST Revenue Growth
Notably, this is the sixth instance in FY 2023-24 where gross GST collections surpassed Rs 1.60 lakh crore. By November 2023, FY 2023-24's gross GST collection reached Rs 13,32,440 crore, averaging Rs 1.66 lakh crore monthly.
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By Krishna
GSTN Advisory Procedures Provisions Taxpayer Amnesty Missed Appeal Deadlines
The Goods and Services Tax Network (GSTN) has issued an advisory outlining procedures and provisions for taxpayers who missed the appeal filing deadline for orders passed on or before March 31, 2023.
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By Krishna
Digital Payment Safety Alert Systems Transactions Rs 5000
Financial institutions are considering the implementation of a swift alert system for digital payment transactions exceeding Rs 5,000, as per Ministry of Finance sources.
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By Krishna
Considerations New Discard Option Income Tax Department
Filing your income tax return (ITR) is an annual task for taxpayers, and it's crucial to be aware of the necessary steps. As the number of filed tax returns increases, understanding the process becomes essential.
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By Krishna
India Cracks Down Financial Fraud 7 Million Mobile Numbers
The meeting, attended by representatives from RBI, TRAI, and economic affairs and revenue departments, addressed the need to secure Aadhaar data to prevent misuse.
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By Krishna
Newly Introduced Discard Income Tax Return Feature Advantages
The “Discard” ITR option on the Income Tax Department's website allows taxpayers to permanently delete their filed tax returns. Once discarded, the return can not be retrieved by the taxpayer.
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By Krishna
Tax Deadline File Updated Return Assessment Year 2021 2022
The Income Tax Department reminds taxpayers of the approaching deadline to file the Revised Income Tax Return (ITR) for the Assessment Year 2021-2022.
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By Krishna
Income Tax Rules Specified Financial Transactions Cash Deposits Withdrawals
As per the Income Tax Act, specific financial transactions are identified. If, during a financial year, an individual deposits cash amounting to Rs 10 lakh or more in a savings account, the bank is obligated to report such transactions.
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By Krishna
GST Collection Significance Last Phase Financial Year
Goods and Services Tax (GST) revenue for October 2023 reached Rs 1,72,003 crore, marking the second-highest collection after April 2023.
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By Krishna