GST Council will likely consider enforcing a ministerial panel’s recommendations on data analytics to tighten compliance to augment revenues. “The recommendations are about checking leakages at various points, from point of production till consumption. Central Board of Indirect Taxes and Customs has issued Instruction No. 02/2022-GST dated March 22, 2022, […]
1. CBDT notified the income tax return (ITR) forms for FY 2021-22. Just as the government kept the income tax slabs unchanged for this financial year, the return forms have also been kept largely unchanged. ITR-1 can be filed by individuals having total income up to Rs 50 lakh, just like […]
1. Gujarat High Court bench of Justice J.B. Pardiwala and Justice Nisha M. Thakore have held that the issuance of a show cause notice along with the draft assessment order is absolutely necessary before passing an order under Section 144B of the Income Tax Act. 2. Indians with hidden income in the United […]