Top 6 objectives of new income tax e-filing portal
The new income tax portal will be launched on 7th June 2021. The Income Tax Department is launching new e-filing portal to provide convenient and modern seamless experience to taxpayers.…
Key highlights of 43rd GST Council meet
The 43rd Council meeting of GST was held on 28th May 2021 . Many important points were discussed in the meeting. Below mentioned is summary of all the importatnt points.…
All you need to know about cryptocurrency!
The volatility of cryptocurrency is very high. If you think trading in stock exchange is risky then buying or selling cryptocurrency is way more risky.…
Income Tax Return Due Date Extended for FY 2020-21!
Considering the current situation Central Board of Direct Taxes (CBDT) on Thursday extended the deadline for filing ITR for FY 2020-21 (AY 2021-22) to September 30.…
CBDT provides relaxation in timelines for GST compliance
the government has given relief to GST taxpayers. This includes extension for filing GST returns, reduced the quantum of late fee, and even late fee has been waived in some cases for the months of March and April 2021.…
Old Tax Scheme vs New Tax Scheme
The Union Budget 2020 introduced new Tax Scheme for taxpayers. Lot of people are confused which scheme to choose? Which scheme is beneficial for them? Hence Team Taxofile has tried to decode the New Tax scheme. Hope it will help you to take informed decision.…
What are the tax implications of online gambling?
Gambling of any form is taxed at a flat rate of 30%. The tax rate after adding cess amounts to 31.2%.…
How to download JSON Utility?
The Central Board of Direct Tax (CBDT) had issued a JSON utility to file Income Tax Returns (ITRs) for Assessment Year 2021-22. Currently, the JSON utility is enabled only for forms ITR-1 & ITR-4. The CBDT will enable JSON utility for other ITR forms as well in the next releases.…