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Income Tax

How to Respond to a Notice Issued for Non-Compliance or...

How to Respond to a Notice Issued for Non-Compliance or Non-Filing of Returns

The Income Tax Department may direct the notices for several reasons, such as in case of non-filing of the income tax returns, defect detected in the filed...

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Income Tax

Income Tax Exemption on Gratuity

Income Tax Exemption on Gratuity

Income Tax is a form of Direct Tax levied by the Indian Government on the very source of income generated in a financial year either by individuals or busi...

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Income Tax

Income Tax Rebate under Section 87A

Income Tax Rebate under Section 87A

Income Tax is a kind of Direct Tax imposed by the Indian Government on the very source of Income generated in a financial year, either by individuals or bu...

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Income Tax

What is the Aadhaar Enrolment ID for Income Tax Returns...

What is the Aadhaar Enrolment ID for Income Tax Returns

The income tax laws mandate that an individual must quote their Aadhaar enrolment ID while filing an income tax return (ITR). Other than this, individuals...

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Income Tax

Aadhaar Mandatory for PAN Application from 1 July 2017...

Aadhaar Mandatory for PAN Application from 1 July 2017

In the past few days, the Government has made numerous announcements regarding Aadhaar and PAN, like making Aadhaar mandatory for IT Returns, linking Aadha...

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NBFC

NBFC Asset Classification

NBFC Asset Classification-min

The RBI clarified income recognition, asset classification, and provisioning criteria for banks, NBFCs, and all-India financial institutions in a note as p...

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Income Tax Taxation

Income recognition norms for NPAs

Income recognition norms for NPAs

Financial institutions categorize loans and advances in default or arrears as non-performing assets (NPAs). Debt is in arrears when the principal or intere...

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GST

Is it Possible to Revise GSTR-3B?

Is it Possible to Revise GSTR-3B?

GST stands for Goods and Services Tax, which is levied on goods sold for domestic use. A value-added tax known as GST was implemented by the Constitution o...

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