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Month: December 2024

ITR-for-AY-2024-25-Extended

Furnishing Belated/Revised ITR for AY 2024-25 Extended

Furnishing Belated/Revised ITR for AY 2024-25 Extended The Central Board of Direct Taxes (CBDT) has extended the deadline for furnishing belated and revised Income Tax Returns (ITRs) for the Assessment Year 2024-25 to 15th January 2025. What Does This Mean for Taxpayers? 1. Belated Returns: Taxpayers who missed the original deadline now have extra time […]
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GST-TDS-on-Metal-Scrap

Understanding GST TDS on Metal Scrap

Understanding GST TDS on Metal Scrap Introduction Goods and Services Tax (GST) has simplified taxation in India by bringing various indirect taxes under one umbrella. Among its provisions, the mechanism of Tax Deducted at Source (TDS) under GST ensures tax compliance. This applies to various goods and services, including the sale of metal scrap. What […]
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Income-Tax-Portal

Income Tax Portal Update: File Rectification Applications Directly with the AO under Section 154

Income Tax Portal Update: File Rectification Applications Directly with the AO under Section 154 Tax compliance in India has taken a progressive step forward with a new feature introduced on the Income Tax Portal. Taxpayers can now file rectification applications under Section 154 directly with the Assessing Officer (AO) for their assessment orders. This innovation […]
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GSTR-3B-Filing (1)

Key Changes in GSTR-3B Filing Effective January 2025: What Taxpayers Need to Know

Key Changes in GSTR-3B Filing Effective January 2025: What Taxpayers Need to Know Starting January 2025, significant changes will be implemented in the GSTR-3B return filing process to enhance accuracy and compliance. Key updates include: 1. Hard-Locking of Auto-Populated Values: The GST Portal will restrict modifications to auto-populated values in the pre-filled GSTR-3B form. Tax […]
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