Associate TG
HSN Code Reporting in Table 12 of GSTR-1 and GSTR-1A Introduction HSN Code Reporting in Table 12 of GSTR-1 and GSTR-1A The Goods and Services Tax Network (GSTN) has implemented a phase-wise approach to ensure accurate reporting of HSN codes in Table 12 of GSTR-1 and GSTR-1A. These changes are part of a broader strategy … Read more
Income tax on cash spending Income tax on cash spending The Indian Income Tax Department has implemented stringent rules to regulate cash transactions and promote a digital economy. These measures aim to curb tax evasion, increase transparency, and ensure compliance with income tax laws. Income tax on cash spending Excessive use of cash can lead … Read more
Analysis of Recent GST Notifications Analysis of Recent GST Notifications The Ministry of Finance, Government of India, issued multiple significant notifications on January 16, 2025, introducing amendments under the Central Goods and Services Tax (CGST) Act, 2017. These amendments are expected to impact various industries, especially those dealing with fortified rice kernels, hotel accommodations, and … Read more
Types of Income Tax Return (ITR) Notices Types of Income Tax Return (ITR) Notices Filing your Income Tax Return (ITR) is a critical responsibility for every taxpayer. However, even after filing, you may receive a notice from the Income Tax Department for various reasons, such as incomplete information, discrepancies, or further inquiries. Types of Income … Read more
How Rent Payments and Receipts Affect Your Tax Liability How Rent Payments and Receipts Affect Your Tax Liability Rent payments and receipts have a significant impact on your tax liability. Whether you are a tenant paying rent or a landlord receiving rental income, understanding the relevant tax laws can help you minimize liabilities and stay … Read more
