Reading Time: 3 minutesRule 138F , According to the CGST Rule 138F, Information to be furnished in case of intra-State movement of gold, precious stones, etc. and generation of e-way bills thereof.- (1) Where- (a) a Commissioner of State tax or Union territory tax mandates furnishing of information regarding intra-State movement of goods specified against serial numbers 4
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Reading Time: 2 minutesdifference in ITC , according to Notification No. 38/2023 – Central Tax dated 4th August, 2023 , CGST Rule 88D provides the manner of dealing with difference in input tax credit available in autogenerated statement(GSTR-2B) containing the details of input tax credit and that availed in return (GSTR-3B). (1) Where the amount of input tax
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Reading Time: < 1 minuteDeduction of payment of interest and principal – House Property under Section 24(b) of IT Act : Maximum limit of interest on loan taken for house property is 2,00,000/- if all of the following conditions are fulfilled- →The house property is self-occupied or vaccant, →The loan must be taken for the purchase and/or construction: →The
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Reading Time: 9 minutesThe Equalisation Levy was introduced by the Finance Act, 2016 on online advertisement services, provision for digital advertising space, or any other facility or service for the purpose of online advertisement only. The Finance Act, 2020, has extended the scope of this levy to e-commerce supply and services made/provided/facilitated on or after 01-04-2020. The Equalisation
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Reading Time: 3 minutes2000 rupee note, According to the Latest statement of the Reserve Bank of India, RBI has decided to withdraw Rs 2,000 notes from circulation but it will continue as legal tender even after 30 September 2023, RBI has issued clarifications about Rs 2000 Notes discontinuation   Frequently Asked Questions on 2000 rupee note 1. Why
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Reading Time: 2 minutesThe 233rd meeting of Central Board of Trustees, EPF was held today in Delhi under the Chairmanship of Shri Bhupendra Yadav, Union Minister for Labour & Employment and Environment, Forest & Climate Change. The Vice-Chairmanship of Shri Rameshwar Teli, Union Minister of State for Labour & Employment, Petroleum & Natural Gas and Co-Vice-Chairpersonship of Ms.
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Reading Time: 2 minutesLast date for PAN-Aadhaar Link , In order to provide some more time to the taxpayers, the date for linking PAN and Aadhaar has been extended to 30th June, 2023, whereby persons can intimate their Aadhaar to the prescribed authority for Aadhaar-PAN linking without facing repercussions. Notification to this effect is being issued separately. Under the
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Reading Time: 2 minutesPublic Provident Fund (PPF) is a retirement planning-focused instrument, that was introduced by the National Savings Organization in the year 1968. PPF Account has a lock-in period of 15 years and it comes with an EEE (Exempt-Exempt-Exempt) tax status. The key feature is that the maturity amount and the overall interest earned during the period
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Reading Time: 2 minutesIncome tax on youtube income, With the rise of social media, the demand for content creators and bloggers is the highest ever and on the rise. The Youtube Videos /blogging profession is popular due to the platform it offers for expression and it is a very lucrative career now a days. The income earned by
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Reading Time: 4 minutesSection 139AA of the Income Tax Act provides that every individual person who has been allotted a Permanent Account Number (PAN) as on the 1st day of July, 2017, and who is eligible to obtain an Aadhaar number, shall intimate Aadhaar number in the prescribed form and manner. In other words, such persons have to
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