The tax effect due to the timing differences is termed as deferred tax which literally refers to the taxes postponed.
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Category: News & Updates
TDS on Purchase of Goods
Section 194Q – As per provisions of section 194Q of the Income Tax Act, TDS is deductible if- – The
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Cost of inflation index notified for FY 2021-22
Ministry of finance has notified cost of inflation index (CII) as 317 for the purpose of calculation of capital gain
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Highlights of the 43rd GST Council Meeting
1. Centre has decided to keep 5% GST Rate on COVID Vaccines. 2. GST exemption has been provided on import
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Relaxation of Time Limit for Tax Compliances Under Income Tax Act
Sr No Particulars Earllier Date Revised Date 1 TDS return for Last Quarter (Jan’21 – Mar’21) 31-05-2021 30-06-2021 2 Form
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Relaxation of Timelines for Various GST Returns, Filings and Compliances
The due date of furnishing GSTR-1 for the month of April 2021 have been extended to 26th May 2021. Due date
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