Government contracts, as the name suggests, are those undertaken or signed by state or central governments. They are initiatives signed for various purposes such as construction and maintenance, manpower and staffing solutions, IT-related projects, and so on. Government contract compliance is a constantly evolving challenge While one of the parties in the contract is the government, the other part is typically an organization that carries out the activities in the…

Have you ever faced a situation where your ITR was rejected? Yes, ITR can be rejected by the Income-Tax department. Let’s see how to avoid ITR Rejections. Why the tax returns get rejected? Your tax return gets rejected if your ITR doesn’t reach the CPC within 120 days of e-filing or you fail to e-verify it. It may also get rejected if you send your ITR without a proper signature.…

Usually, GST returns comprise of two types of returns – periodic and annual returns. The periodic returns comprise of monthly and quarterly returns, and these are for transactions during the month or the quarter. The annual return is for reporting the summary of the periodic returns filed during a financial year. Annual GST return has a special significance as it is supposed to be the last return of the year.…

  ITR filing is perhaps one of the most fundamental activities in one’s life now, especially if he/she is a well-placed professional or a businessman. Let’s look at the benefits of filing returns. Saves from prosecution The most significant advantage of income tax return filing is that it helps you to avoid some severe punishment. Late filings can cut into your profits. Filing returns on time saves you from a…

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