Saturday, January 4, 2025

GST Amnesty scheme waiver of interest and penalty: Step by step guide for eligible taxpayers to apply using GST SPL-02 form

GST Amnesty 2024: GSTN in an new advisory said now GST SPL-02 form has been made available on the GST portal. GST SPL-02 form can be used to apply for GST Amnesty Scheme waiver of interest and penalty. Read below to find out how to apply for GST Amnesty Scheme.

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Last opportunity for eligible taxpayers to claim 87A tax rebate: Why you must file revised/belated ITR before January 15, 2025

Income tax rebate u/s 87A: Following the Bombay High Court order to extend the revised and belated income tax return (ITR) deadline to January 15, 2025, CBDT has extended it. ​If you are eligible to claim section 87A tax rebate but prevented from claiming it in the original ITR then file a a revised return to get a tax refund for the excess tax paid in the original return.

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Friday, January 3, 2025

Deadline to declare foreign assets in ITR ends January 15, 2025: These two sources provide govt your foreign a/c info

Foreign assets in ITR: Indian residents must report their foreign assets and income in their income tax returns (ITRs) in accordance with the Indian Income-tax Act, 1961. The Indian government and its law enforcement agencies get detailed information about financial accounts held by Indian residents in foreign countries through two sources.

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Thursday, January 2, 2025

Sold property for Rs 43.5 lakh, how can I pay lower long term capital gains tax, with or without indexation?

Long term capital gains tax: How can you pay lower tax if you sell a flat for Rs 43.5 lakh? Our panel of experts answers questions related to any aspect of personal finance. If you have a query, mail it to us right away.

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