Filing your Income Tax Return (ITR) is not only a statutory obligation for taxpayers with taxable income but is also mandatory in several specified situations under the Income-tax Act, 1961. Whether you are a business owner, professional, salaried individual, investor, or partnership firm, you may be required to file your ITR if your turnover exceeds prescribed limits, your professional receipts cross the threshold, you incur significant foreign travel expenses, pay high electricity bills, maintain substantial bank deposits, own foreign assets, or wish to claim a refund or carry forward losses. Timely filing helps avoid penalties, notices, and compliance issues while ensuring smooth processing of refunds and maintaining a strong financial profile. For expert assistance in Income Tax, GST, Audit, Compliance, and Financial Advisory services, contact M/s. Purvang Doshi & Associates, Chartered Accountants at 6354490042 and ensure your tax obligations are met
Update
📢 **GST UPDATE – IMPORTANT COMPLIANCE CHANGES** GST compli
📢 **GST UPDATE – IMPORTANT COMPLIANCE CHANGES** GST compliance continues to become more technology-driven, with increased focus on authentication, return filing discipline, ITC reconciliation, data analytics and monitoring of non-genuine transactions. 🔹 **Key areas taxpayers should watch:** • E-way bill authentication requirements • Time limits for filing GST returns • GSTR-2B/ITC reconciliation • GST scrutiny and departmental verification • DRC-03 payments and demand compliance • Monitoring of fake/non-genuine invoices • Export refund documentation and verification • Increasing use of technology and data analytics by the GST department ⚠️ **Important:** Applicability of a particular provision depends on the taxpayer, transaction and relevant notification/circular. Stay updated. Stay compliant. M/s. PURVANG DOSHI & ASSOCIATE Chartered Accountants | Mehsana, Gujarat #GST #GSTUpdate #GSTCompliance #InputTaxCredit #GSTAudit #GSTNotice #Taxation #CharteredAccountant
Read More →
