Tax invoice, Debit Note and credit Note under GST 1. Introduction Invoice is a document which provides evidence as to existence of transaction of sale or purchase of goods or the agreement of supply. GST act also gives immense importance to invoice and named it as tax invoice containing details provisions as stated hereunder.
Undisclosed Income : CBDT to issue notification to ensure secrecy CBDT is likely to issue a fresh notification making it clear that information about those who declare their black money under the compliance window which ends on September 30 will be kept secret, a senior official said today.
Fat tax impose in kerala on burgers, pizzas in budget Finance minister Thomas Isaac, who presented the revised budget for 2016-17 on Friday, said the government will raise tax revenues through nine schemes, which include introduction of a 14% “fat tax” on burgers, pizzas, tacos, doughnuts, sandwiches, burger patties, pasta and bread-fillings. The budget expects […]
Rich farmers are under Income Tax deptt Scanner IT department has identified rich farmers, who have declared more than Rs one crore as agriculture income, in both the states. “There are many assesse who fall in this category. But, as of now, IT department has identified 72 of them for a detailed scrutiny”, Income Tax […]
Set off and carry forward of losses As per Income Tax Act 1961, a Person as defined in Section 2(31) can set off and Carry forward the losses incurred. It is a big boon to a Person, because it plays an important role on the financial condition of a Person who has incurred such Losses. […]