# legal
12 posts in `legal` tag
Tax Compliance Calendar for January 2024
To empower you with a smooth start to the year, we present your comprehensive Tax Compliance Calendar for January 2024.
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By Krishna
Challenges in Taxation: The Surge in GST Notices for Numerous Companies
On New Year's Day, Life Insurance Corporation of India (LIC) received a demand notice of approximately Rs 806 crore for an alleged shortfall in Goods and Services Tax (GST) payment for the fiscal year 2017-18.
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By Krishna
LIC Receives GST Demand Notice Rs 806 Crore Plans to Appeal the Order
Life Insurance Corporation of India (LIC) has disclosed that it recently received a notice for GST payment, along with interest and penalty, totaling Rs 806 crore.
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By Krishna
GST Collections Approach Rs1.65 Trillion in December 2023
In December 2023, gross revenue, reflecting business transactions from November, reached Rs 1,64,882 crore.
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By Krishna
Income Tax Department Witnesses Increase In ITR Submissions For Assessment Year 2023-2024
The Income Tax Department has seen a significant increase in the filing of Income Tax Returns (ITRs), reaching a new record of 8.18 crore ITRs for the Assessment Year 2023-2024 by December 31, 2023.
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By Krishna
ATM Withdrawal Fees SBI, PNB, HDFC, ICICI Bank
Banks provide a set number of free ATM transactions to customers every month. If this limit is surpassed, customers will incur additional charges on each ATM transaction, whether it's financial or non-financial.
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By Krishna
Latest UPI Transaction Limit RS 5 Lakh Per Day News
The updated UPI transaction limit regulations now allow individuals to make payments via UPI up to Rs.5 lakh per day, compared to the previous cap of Rs.1 lakh.
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By Krishna
Filing Income Tax Returns Identifying Errors AIS
This statement is crucial for the tax department to validate the accuracy of the taxpayer's Income Tax Returns (ITR).
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By Krishna
GST Amnesty Scheme Deadline Extended January 31
This initiative allows specific GST taxpayers to file appeals against GST tax demand orders until January 31, 2024.
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By Krishna
EPFO Alert Withdrawal Facility Discontinuation
The Employees’ Provident Fund Organisation (EPFO) has closed the option for subscribers to withdraw a portion of their retirement savings as a Covid-19 relief measure.
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By Krishna
Upcoming GST Return Rectification Option
An official noted that enabling the revision of GST returns could streamline the filing process and contribute to a reduction in legal disputes.
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By Krishna
December 31 ITR Filing Process Penalties
Belated returns are filed under Section 139(4) of the Income-tax Act, 1961, while revised returns can be submitted under Section 139(5) of the Income Tax Act. The process for both is the same as filing an original ITR.
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By Krishna