Blog | TAX PATHSHALA

TAXPATHSHALA- BLOG

CBIC prescribes the manner of filing an application for refund by unregistered persons: Circular

The CBIC has issued circular to clarify that a new functionality has been made available on the common portal which allows unregistered...

Insertion of new rule 37A vide Notification No. 26/2022 –Central Tax

Insertion of new rule 37A for availment of ITC under GST Rules

Gift vouchers, rewards points and website subscription is excluded from definition of VDA: CBDT

The Central Government hereby notifies the following virtual digital assets which shall be excluded from the definition of virtual...

Income-tax (19th Amendment) Rules, 2022

The CBDT has amended Income-tax Rules incorporating TDS changes brought by Finance Act, 2022. The tax deducted under section 194S shall...

ITR filing is mandatory if your TDS, TCS is Rs 25,000 or more in a financial year

The government has now made it mandatory for an individual to file income tax returns if his/her total TDS/TCS during the financial year...

Newly inserted Section 194P - Relaxation for specified senior citizen from filing return of Income

To provide relief to senior citizens who are of the age of 75 year or above and to reduce compliance, Section 194P has been inserted.

Confused about the difference between Notification, Circular and Press release? - Read this article.

Confused about the differences between Notification, Circular and Press release? - Read this article for your all answers.

GST Compliances relaxations dt. 1st May 2021

1. No late fees for filing 3b of Mar/April 3b upto 15 days and 30 days from original due date for taxpayer with turnover more than 5 cr...

Understanding Section 194Q – TDS on purchase of goods and Sections 206C(1H).- TCS on sale of goods

Understanding Section 194Q – TDS on purchase of goods and Sections 206C(1H).- TCS on sale of goods under Income tax Act.

Government extends certain timelines under Income tax in light of the raging pandemic.

Brief of Notifications issued by CBIC on 10th Nov,2020

CBIC has issued various notifications on 10th Nov,2020, brief of which are given below:- 1. Notification No. 81/2020 – Central Tax...

Equalisation levy on e-commerce operator - Section 165A (Inserted by Finance Act, 2020)

Background of Equalisation Levy As per Memorandum to Finance bill, 2016, a need for equalisation levy was felt because of: - "With the...

Demystifying all the taxation aspect-Traders of shares and Derivatives should know about.

Background Identifying yourself as a trader or an investor is the first step to assess your income under correct head of income and...

GST Notifications issued by CBIC dtd 15.10.2020 - Due date of GSTR3B, GSTR1, HSN codes and much more

CBIC issues various notifications to implement some of the suggestions of GST Council meeting held recently. Notification No. 74/2020,...

Are you getting ESOPs as salary package? Know about taxability under Income tax Act, 1961

Background ESOPs has gained popularity in last few decades and has been a factor to motivate, attract and retain the valuable employees...