Apoorav G’s Post

🔔 Attention Registered Taxpayer 🔔 📝 Mandatory Bank account details submission reminder: According to rule 10A of GST act,2017, all registered taxpayers must furnish their bank details within 30days of registration or before the due date of GSTR-1/IFF filing, whichever is earlier. 🚀 New functionality Incoming : 1. Failure to furnish bank account details on time will result in : a. Suspension of taxpayer registration b. Debarment from GSTR-1/IFF filing 2. Suspension Revocation: If you update your bank account details upon receiving FORM REG-31, suspension will be automatically lifted. 3. Registration Cancellation: Failure to update bank account details within 30 days of FORM REG-31 issuance may lead to registration cancellation. 📢 Take Action Now: Ensure you provide the necessary bank account information promptly to avoid adverse consequences. #gstupdates #gstcompliance #gst #taxcompliance #taxhelp

Read about the form changes and impact for businesses collecting and validating the new Form W-9 The new W-9 2024 revision will be rolled out to TAINA customers by the end of April 2024. #finacialservices #Taxtransparency #taxreporting #taxintegrity #qi #fintech #tax #leadingsolutions #regtech #taxcompliace #gigeconomy #gigworker #digitalplatforms #gigwage #gigworkers #gigalert #fiverrfreelancer

Clarifying Digital Signatures for GST Documents: The recent advisory from GSTN clears up doubts around the validity of tax-related documents, such as Show Cause Notices, Assessment Orders, Refund Orders issued on the GST portal without visible digital signatures on PDF files. GSTN has clarified that these documents are digitally generated through the officer’s login, which is authenticated using their Digital Signature. Since the entire process is automated and secure, no physical signature is required. Taxpayers can verify the authenticity of these documents directly on the GST portal #GST #TaxCompliance

Attention Taxpayers! A taxpayer recently filed ITR 1 without checking AIS & TIS, missing sales of securities and virtual digital assets. Consequently, a notice was issued, and the ITR was marked as defective. If you file your ITR by yourself, please be aware of these reports, if you don't mind. Reconciling them with your ITR numbers is crucial. If you need expert assistance, you can contact Alliance Tax Experts at 9769201316. #IncomeTaxFiling #ITR #TaxCompliance #TaxSeason #AllianceTaxExperts #FinancialAdvice #TaxPlanning #TaxConsultant #FileYourTaxes #AY2024_25

Advisory on issuance of Notices/Orders without digital signatures of the issuing authorities: Doubts have been created regarding the validity of documents issued by the tax officers on the common portal viz. Show cause Notices, Order of Assessment, Refund Orders etc. which are not containing the Digital signatures on the pdf. document downloaded from the common portal. In this context, it is to be mentioned that such documents (i.e. SCN/Orders) are generated on the common portal from the login of the officer, who logs in through Digital Signatures. Further, these documents being compute... ... ... http://dlvr.it/TDj0Jc #TaxLaws #News #TaxTMI

A new report from The Treasury Inspector General for Tax Administration (TIGTA) expresses concern about the IRS’s ability to review and investigate digital asset transactions. The IRS recently released final digital asset regulations (in accordance with the Infrastructure and Jobs Act). TIGTA praises the tax agency’s increase in criminal enforcement using data analytic tools. However, it remains worried that the IRS doesn’t have an adequate “line of site” on amounts taxpayers report. Among TIGTA’s recommendations is that the IRS make a compliance plan with data from the new Form 1099-DA. The IRS largely agrees with this recommendation. Read the report: https://bit.ly/4f6Jnxu #IRS #DigitalAssets #TaxCompliance #TIGTA #TaxRegulations #Form1099DA

Please be advised that the South African Revenue Service (SARS) will be issuing auto-assessment for the 2024 tax season from 30 June 2024 to 14 July 2024. ⚖️ During this period, taxpayers will receive notifications via SMS and email, providing details about the auto-assessment process. These notifications will be sent between 07:00 and 21:00.🔔 Please take note of the following: ▪️Notifications will not contain hyperlinks to eFiling or the MobiApp. ▪️Taxpayers are instructed to log into eFiling or the MobiApp using their login credentials to view their auto-assessments. ▪️It is strongly recommended that taxpayers and tax practitioners manually enter the eFiling URL directly into their web browsers. ▪️Tax practitioners should inform their clients that SARS communications will not include hyperlinks. ▪️All email correspondence from SARS will originate from an @sars.gov.za email address. For assistance, our team is ready to support you throughout the process. #theateamfinancialservices #taxseason2024 #sars #taxfiling #taxdeadlines #stayontrack #taxtips #financialplanning

Clarifying Misconceptions: CBDT's Approach to HRA Claims and Taxpayer Data Verification 🔍 The Income Tax Department's recent data verification exercise has flagged certain instances of mismatched information filed by taxpayers, prompting alerts for corrective actions. 📢 Amidst this, concerns raised on social media regarding CBDT inquiries into incorrect HRA claims are unfounded. There's no basis for fears of retrospective taxation or case re-openings. 💼 Data analysis was conducted on select high-value cases of rent discrepancies for FY 2020-21, without widespread case re-openings. ✅ The objective of this e-verification was to address mismatches for FY 2020-21 specifically, without disrupting other cases. 🚫 Contrary to media reports, there's no widespread drive to re-open such cases. Reports suggesting otherwise are inaccurate. #IncomeTax #DataVerification #CBDT #TaxCompliance #Taxpayers #FY202021 #EVerification #TaxationUpdates

📢 Important Update for GST Filers! 📢 Attention all taxpayers! The due date for filing GSTR-1 has been extended to April 12, 2024. GSTN has acknowledged the technical challenges faced by users, causing intermittent issues with GSTR-1 filing. Consequently, GSTN has suggested to CBIC an extension for monthly taxpayers. Stay updated and ensure timely compliance with this new deadline. #GST #TaxFiling #ComplianceDeadline #GSTN Source: https://lnkd.in/gpPXvA3R

Latest GST advisory says digital signature of the issuing officers isn't required in softcopy of notices and orders, as they are computer generated on the common portal from the login of the officer, who log in using DSC. Purpose as well as validity of such documents can be verified through *VerifyRFN* facility in #GST portal... That said, leaving sign aside... how many state gst Orders and SCNs do we see with a valid RFN or DIN...😅 https://lnkd.in/ghU8BeaE #gstupdates