To provide aid to taxpayers, the Income Tax Department has extended the deadline for filing the ITR until January 15, 2025. Those revising special rate incomes or fixing Section 87A rebate issues will especially benefit from this prolongation. Find out how to take advantage of this chance, avoid penalties, and file amended taxes.

New GSTR-1 filing requirements take effect in January 2025. GSTR-3B reconciliation alignment, auto-populated data, improved e-commerce transaction reporting, and updated HSN code reporting criteria are some of the major changes. Find out how businesses may adjust and how taxpayers are impacted by these changes.

The Income Tax Act's Section 115JB establishes the Minimum Alternate Tax (MAT), which makes sure businesses pay a minimum tax even when they take advantage of exemptions and deductions. The goal of MAT, its applicability to both domestic and international businesses, its calculation method, the credit system, and important modifications such as exclusions for businesses falling under Sections 115BAA and 115BAB are all covered in this blog. It also looks at MAT's function in maintaining tax equity, particularly for companies with high book earnings but low tax obligations.

The Income Tax Department's heightened emphasis on high-value transactions is examined in this blog post. It looks at the motivations behind this decision, how it will affect people and businesses, and risk-reduction tactics.

This blog post unravels the mysteries of Form 26AS, a crucial document for a smooth ITR filing experience in India. It explains what Form 26AS is, the information it contains (TDS, TCS, tax payments, etc.), its importance in preventing errors and supporting claims, and the benefits of using it for tax planning and investment tracking. Additionally, the blog provides a guide on how to access your Form 26AS electronically.

This comprehensive guide provides step-by-step instructions on how to e-Verify your Income Tax Return (ITR) using various methods such as Aadhaar OTP, Net Banking, Bank Account EVC, Demat Account EVC, Digital Signature Certificate (DSC), or Bank ATM. By following these detailed instructions, you can ensure the accuracy and authenticity of your tax return filing process, helping you stay compliant with tax regulations and avoid penalties.

This comprehensive guide covers the tax benefits of investing in Sukanya Samriddhi Yojana, a government-backed savings scheme for girl children. The guide provides an overview of the scheme's eligibility, tax benefits, and additional advantages, making it an essential resource for anyone considering this investment option.

Highlights upcoming deadlines for income tax compliance and GST filing. It emphasizes the need for prompt action to avoid potential penalties and legal issues.

This blog provides a detailed guide on understanding the Income Tax Return (ITR) forms 4-7 for the Financial Year 2023-24 (Assessment Year 2024-25). It covers the basic information, eligibility criteria, and important points to note for each form. It also highlights the importance of accuracy while filling the forms and seeking professional help if needed.

This synopsis delves into the upcoming landscape of electronic invoicing (e-invoicing) in India. It examines the potential advantages and obstacles associated with the widespread adoption of e-invoicing in the country. Through an analysis of the current scenario and future projections, it aims to shed light on the transformative impact of e-invoicing on businesses and the economy. Key topics covered include the efficiency gains, cost savings, compliance advantages, and technological advancements facilitated by e-invoicing. Additionally, it addresses challenges such as implementation complexities, technological readiness, and data security concerns. Overall, this synopsis provides valuable insights into the promising prospects and critical considerations shaping the future trajectory of e-invoicing in India.

Expanding AIS data in Budget 2024 could enhance its usefulness for individuals and tax authorities alike.

PM Modi's announcement included an investment of over $175 million in the newly constructed Ayodhya Airport, equipped to handle an initial capacity of one million passengers.