Efilings Adviser

18/02/2019

https://www.livemint.com/politics/policy/gst-compliance-govt-plans-to-go-easy-on-businesses-till-polls-1550427482949.html

Easing anti-evasion measures comes in the backdrop of lower indirect tax mop up in the current fiscalExperts said it was only a matter of time before central and state authorities went on a drive against tax evasion

13/02/2019

https://www.financialexpress.com/money/income-tax-hack-here-are-four-tax-saving-deductions-beyond-80c/1484462/

Section 80C offers a tax deduction of Rs 1.5 lakh for investment in five-year bank/post office deposits, contribution to Public Provident Fund, Employees’ Provident Fund, life insurance premiums, investment in ELSS and ULIPs and tuition fees for two children. However, there are other sections also...

27/01/2019

https://www.ndtv.com/cities/gujarat-man-arrested-for-rs-177-crore-gst-fraud-1983763?amp=1&akamai-rum=off

A man has been arrested for allegedly issuing fake invoices to claim Rs 177.64-crore input tax credit, the Central GST department said today.

17/01/2019

https://indianexpress.com/article/india/income-tax-filing-system-infosys-narendra-modi-government-5541692/lite/

The move will help in bringing down the income tax return (ITR) processing time to one day and hence speed up refunds.

12/05/2017

Gst Enrolment to reopen on 1st June onwards

60.5 lakh entities out of 84 lakh have enrolled themselves with the GSTN system. Remaining tax payers can enroll between June 1-15.

19/08/2016

Efilings congratulates PV Sindhu for her win and thanks her for making India proud...

29/07/2016

Great News !!
Last date for filing Income Tax Returns (ITR) for Individuals , HUF etc has been extended from 31 July 2016 to 05 Aug 2016

22/07/2016

21/07/2016

Inside the real walls of Facebook.

11/07/2016

Government is looking for change in Financial year concept*
_Financial year ending may change from 31st March to 31st December!!_
Govt forms panel to examine viability for change in financial year.
Some 150 years after the British set India’s financial year from April 1 to March 31, the government is now looking to reset the fiscal time-cycle. The government has set up a committee to examine the desirability and feasibility of having a new financial year. Finance Ministry, Arun Jaitley said that the four member committee will be headed by former Chief Economic Advisor Shankar Acharya and will examine the merits and demerits of various dates for commencement of financial year including the existing dates. The committee will have to provide reasoning for the suitability of the financial year from the point of view of correct estimation of receipts and expenditure of central and state governments.
The other members of the panel include former Cabinet Secretary KM Chandrasekhar, former Finance Secretary to Tamil Nadu PV Rajaraman, and Senior Fellow at the Centre for Policy Research Rajiv Kumar. The panel will take into account the genesis of current financial year, suitability of financial year from point of view of correct estimation of receipts and expenditure of Central and State governments. It will also consider the effect of the different agriculture crop periods, impact on business, taxation systems and procedures, statistics and data collection and convenience of legislatures for transacting budget work.
The committee has been asked to submit its reports by 31st of December this year. In case the committee decides to recommend a change in the Financial Year, it will also work out the modalities for effecting the change.
Currently, India follows the April-March fiscal year and all macroeconomic and company data, including the government’s budget, are compiled and prepared for the same period. Most countries follow a January-December fiscal year, so a committee of secretaries headed by the cabinet secretary had earlier this year recommended changing the fiscal year to January-December.

06/07/2016

GST will assist in bringing down fiscal deficit by boosting tax collection and simplifying the tax regime, which is expected to bring about better compliance.