This article we going to discuss the fields showing in ITR-1 form. There are many changes in New ITR-1 form launched for filling return for FY 2017-18.
Category: Tax Advisory
Don’t Delay With Filing of Your Income Tax Return
If a person is required to file ITR but does not file it on time prescribed under Income tax act then late fees have to be deposited by him while filing his ITR.
GST E-way Bill- Ten Points to Know
The GST e-way bill framework for the movement of commodities between states was actualized on April 1, 2018
Provisions for issuing Credit Note under GST
Under GST Supplier has to issue credit note to the recipient of goods or services,
How to deal with Defective Return Notice under section 139(9) of Income Tax Act
A defective return notice is generally sent to the assessee if he fails to furnish some necessary information.
Things to be taken care of before 31st March
This article helps you in ascertaining the various provisions of GST on which action has to be taken immediately i.e before 31st March.
Claim of Tax Credit on Foreign Income of a Resident
In Income tax Act, Residential status of the individual is one of the major factor while determining the taxability of the person.
Tax benefit on Home Loan and HRA both
In this Article we are going to discuss the tax benefits provided in the Income Tax Act to the home loan buyer.
GST applicability on Supply of Goods to SEZ unit
All supplies made to SEZ whether on account of supplies of goods or services, have been categorised as “Zero Rated Supplies” in the IGST Act.
First Arrest under Goods and Service Tax regime for alleged fraud
The centre and state governments suspect massive tax evasion under GST due to the lax implementation.
Hon’ble High Court of Bombay Directed Central Government to resolve issues with GST Portal
The Bombay High Court on March 6th directed the Centre and the Maharashtra government to resolve the citizens grievances related to the GST by April 24 this year (2018).
Taxability of Gifts as per Income Tax Act 1961
If you receive gifts in the form of money and property from any of your relative or friends, it may be taxable Income in certain situations.
PNB Fraud: Centre moves to set up new regulator for CAs
The trick at state-run Punjab National Bank has provoked the legislature to proceed onward setting up another office to control and train reviewers, just about five years after the law accommodated it.
Deduction of Principal Component and Interest Paid on Housing Loan
To explain the Tax Benefit on Home Loan, we would be dividing the Repayment of Home Loan into 2 components.The tax is deducted on an accrual basis.
Reopening of Income tax case after 6 years
Whether notice for reopening of cases on the basis of finding of tribunal, after expiry of 6 years limitation from the relevant AY in which the income was first assessable, is a valid notice.
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