DIRECT TAXES COLLECTION IN INDIA IS INCREASING BETTER FOR EVERY YEAR! Direct tax is an amount levied on income earned by a person. Person means and includes every ordinary resident in the country. Direct taxes in India are collected in various ways like Advance tax, TDS, Personal Income Tax, Corporation Tax, securities transaction tax, dividend distribution tax, etc. Direct Taxes collected will be utilized for the development of country. A pleasure news for the people of India is that the collection of Direct taxes is increasing for every new year. Direct Taxes collection increase leads to infrastructure development. Every citizen of India is coming forward to build the strong nation by their taxes. With every person fulfilling their responsibility of paying taxes on time lead. There is a growth in collection of taxes collected by government this current financial year. According to the reports of Government, Direct Taxes collection has increase...
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IN VIEW OF SECOND WAVE PANDEMIC SITUATION GST TAXPAYERS CAN NOW BE AT COMFORT OF FILING THE GST FORMS ON RESPECTIVE EXTENDED DATES, ZERO LATE FEES AND LOW INTEREST RATES AS DECIDED BY GOVT.(CBIC) Government has given an opportunity to GST Tax payers to file the returns within extended time. This is the decision taken in favour of taxpayers as relief from the partial lockdowns in respective states along with severe pandemic concerns. Special Reliefs are as below: REDUCTION IN RATE OF INTEREST LEVIED FOR THE TAX PAYMENTS TO BE MADE WAIVER OFF OF LATE FEES EXTENSION OF DUE DATES FOR FEW FORMS FILING CBIC is been represented by various stakeholders and taxpayers about the challenges faced during this pandemic situation. Timely compliance of GST filings is highly impossible considering the dangerous spread of covid is the opinion of stakeholders. Stakeholders request is observed by CBIC and GOI and announced relief measures. Filing dates extended till 31st Ma...
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