Changes in ITR-V under Income Tax Return
Every time a person files an Income Tax Return, an acknowledgement is generated. This acknowledgement is known as ITR-V. This means Income Tax Return Verification Form. Once the return is filed, it has to be verified either through Adhaar Based OTP or through net banking.
GST on Remuneration paid to Directors
When the Goods and Service Tax Act was introduced, there were many doubts and clarifications were raised by industries as to what falls within the ambit of GST and what does not? GST is levied and applicable to the supply of goods and services.
DIR-3 KYC Compliance of Ministry of Corporate Affairs
Ministry of Corporate Affairs has introduced DIR-3 e-KYC to conduct KYC verification for all the persons who have been allotted DIN (Director Identification Number). DIN is a unique 8 digit number allotted to a person who wishes to become a director of a company. Thus any person who holds a DIN is mandatorily required to file DIR-3 KYC with MCA.
Tax Benefit related to Interest paid on Education Loan
In today’s times, getting a higher education has become a point of concern where the fees for such education are touching the sky. As they say, the only thing costlier than education is ignorance.
One Time Relaxation for Verification of Past ITRs
Central Board of Direct Taxes announces an open window for one time to complete verification of ITRs filed electronically in the past years but is pending for verification.
