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Economy

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Stay updated on direct tax and indirect tax, income tax returns, GDP, government policies and schemes, and breaking news on due dates and extensions.

GST portal introduces DRC-01B for liability mismatch between GSTR-1 and GSTR-3B

The government is aggressively tracking differences between GSTR-1 and GSTR-3B and wants…

Government issues guidelines to clarify TCS applicable on foreign remittances

The Ministry of Finance issued comprehensive guidelines on June 30, 2023, to…

Reporting Tax on Gains from Equity Mutual Funds in ITR for AY 2023-24

The deadline to submit the Income Tax Return (ITR) for Assessment Year…

TCS rules to come into effect from 1 October, no TCS on international credit card spending

The Central Government announced that the new Tax Collection at Source (TCS)…

Credit Card Dues Breach the Rs 2 Lakh Crore Mark

In a first, the credit card dues have breached the Rs 2…

Stricter regulations implemented for potential tax evasion made through trust donations

The Central Board of Direct Taxes has recently implemented stricter regulations concerning…

Proposed Changes in NPS Rules to Provide Assured 40%-45% Pension

There is a dispute between the Central Government and some states regarding…

Mismatch in Form 16, 26AS and AIS: My TDS details are not matching in Form 16, 26AS and AIS. What should I do at the time of filing an ITR?

The deadline for filing your Income Tax Return (ITR) is approaching, and…

Indirect Tax Receipts Skyrocket by 19% in April-May, Exceeding Budget Projections

The Centre’s indirect tax revenues, excluding the amount distributed to states, have…

Here’s why you should file your ITR even when you do not have tax liability

The last date to file Income Tax Return (ITR) for the financial…