The Finance Act of 2021 made a change to section 194-IB and added a new section 194Q that deals with TDS on rent paid by certain people or HUFs and TDS on the purchase of goods, both of which will take effect on July 1, 2021. Section 194-IB has been amended. With effect from July …
TDS on Purchase of Goods to be effective from July 1 Read More »
Table-12 of GSTR-1 contains information about HSN-code-based supplies of goods and services reported in the aforementioned GSTR-1. The ‘Total Invoice value’ field in the preview PDF of the GSTR-1 for the tax period of May 2021 is displaying a value of ‘0′ (zero) instead of N.A, in circumstances where the taxpayer has not provided any …
The Income Tax Department is launching its new e-filing portal www.incometax.gov.in on June 7, 2021. The new e-filing portal is aimed at providing taxpayer convenience and a modern, seamless experience to taxpayers. Some of the highlights of the new portal are detailed hereunder: New taxpayer friendly portal integrated with immediate processing of Income Tax Returns (ITRs) …