The Crypto currency industry has appealed to the government to reexamine the budget proposal to impose a tax deduction at source or TDS on virtual digital assests transactions, saying it will be difficult to comply with. The industries also urged the government to reconsider the decision to levy a tax of 30% on currency market…
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There are frequent reports of GST evasion. But now the government is going to take new steps to stop it. Now blockchain technology will be used by the government to curb GST fake billing and GST claims. In the first phase, it will be used for warehousing and monitoring of goods movement. Warehousing monitoring in…
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As part of the Aatma nirbhar Bharat Initiative, Ministry of Food Processing Industries is implementing a Centrally Sponsored PM Formalisation of Micro food processing Enterprises (PMFME) Scheme for providing financial, technical and business support for setting up/ up gradation of 2 lakh micro food processing enterprises through credit linked grant during five years from 2020-21…
Read More “Know More About Aatma Nirbhar Bharat Package for Small Business” »
If you do a job or business somewhere, then you may have to pay Income Tax. Employed people have to pay income tax not only on salary but also on many things like interest coming from savings, earning from home, side business, capital gains. But do you know that there are some sources of income…
Read More “income from these 10 sources won’t be subject to even in tax.” »
Common people have high hopes from this budget for 2022. Actually, due to the creaking economy and rising inflation due to Corona havoc, people are in the hope that the government can give them relief in this budget. In this sequence, apart from giving a growth booster to the economy, there is a possibility of…
Read More “In the budget for 2022, taxpayers will be given extra tax exemptions.” »
With Fintech adoption rate at 87% against the global average of 64%, India has emerged as one of the largest digital markets in the world. Fintech Sector has huge potential in India, supported by an enabling policy and digital infrastructure framework. As per industry estimate, India has over 676 million smartphone users, over 1.2 billion telecom subscribers…
The Minister of State for Petroleum and Natural Gas, Shri Rameswar Teli in a written reply to a question in the Rajya Sabha today informed that the details of total amount of funds disbursed State-wise from the Start-up Fund by the Central Public Sector Enterprises (CPSEs) under the Ministry of Petroleum & Natural Gas during…
The GST Council meeting was held in Lucknow on Friday under the chairmanship of Finance Minister Nirmala Sitharaman. After this meeting many important decisions were announced. These decisions will have a direct impact on the common man. In this, the exemption from GST on medicines to prevent coronavirus was increased to 31 December 2021. But,…
Read More “The GST Council made a big change in the rate of these thing!” »
The Government, vide Notification No. 19/2021- Central Tax, dated 01.06.2021, had provided relief to the taxpayers by reducing / waiving late fee for non-furnishing FORM GSTR-3B for the tax periods from July, 2017 to April, 2021, if the returns for these tax periods are furnished between 01.06.2021 to 31.08.2021. The last date to avail benefit of the late…
The Ministry of Finance, Department of Expenditure has on Friday, released the 17th weekly instalment of Rs.5,000 crore to the States to meet the GST compensation shortfall. Out of this, an amount of Rs. 4,730.41 crore has been released to 23 States and an amount of Rs. 269.59 crore has been released to the 3 Union…
Read More “GST compensation shortfall released to States reaches Rs. 1 lakh crore” »
