The Finance Act 2022 inserted a new Section 239A providing that a taxpayer may file an application before the AO to get the refund of tax deducted under section 195 on any income (other than interest) if no tax deduction was required. Now, the Central Board of Direct Taxes (CBDT) has notified that such application …
Direct Tax Is Collected By The Central Government. Whereas Indirect Taxes Were Collected By The Central And State Government And Local Agencies. For Example, Entry Tax And Vat Were Collected By The State Government But With The Central Government. Local Agencies Collected Other Taxes Like Property Tax, Water Tax, Toll Tax Etc. For Better Application, …
Benefits Of GST And How GST Replaces All Taxes In India Read More »
GST Advantages in India GST Responsibility To Unorganized Sectors Like Textile Industry With GST Replacing Multiple State And Central Taxes, Collected Attar GST Reduced Tax On Some Items To 2% And Others To 7.5% GST Brings Uniformity In The Taxation Process And Allows Centralized Registration. Gives Small Businesses The Opportunity To File Their Tax Returns …
What are GST Advantages & Disadvantages in India Read More »
GST is known as Goods and Services Tax. It is a skewed tax which has replaced many skewed taxes in India including excise duty, VAT, Prasad tax etc. The Goods and Services Tax Act was passed within the Parliament on 20th March 2017 and came into effect on 1st July. 2017. In different words, Goods …
