iTR fILLING GK LEGAL SOLUTION

Which ITR required to be filed by Partnership Firm?

As per section 2(23) (i) of the Income Tax Act,1961 defines firm which is stated in the Indian Partnership Act,1932. As per section 4 of the Indian Partnership Act, 1932 Partnership Firm means persons who have entered into…

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Income Tax Returns for Individuals

Income Tax Returns for Individuals

Income Tax Returns for Individuals ITR 1 and ITR 2 form are widely used by individuals to file their returns with the  Income-tax Department of India. Ø  Who can use ITR 1?                            Individuals or HUF who have…

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Accounting Entries Under GST

Accounting Entries Under GST   The introduction of GST has subsumed all the indirect taxes which has led to the “One Nation, One Tax” regime. However, with the implementation of GST, there are certain challenges that will be…

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Why Agriculturists & Small Traders are exempted from Registering Under GST?

Why Agriculturists & Small Traders are exempted from Registering Under GST?

Agriculturists & Small Traders are exempted from Registering Under GST Introduction: 1) GST has been introduced by the Government of India to bring all the indirect taxes which were levied on the purchase & supplies of goods &…

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