#gst return filing fees

[taxblgs]

Looking GST Return filing servicec in delhi contact taxring professional , reach out CA office in delhi , Nirman Vihar , near metro station - Contact us

Registered Taxpayers: All businesses registered under GST must file returns, regardless of their turnover.

Composition Scheme Taxpayers: Businesses opting for the Composition Scheme are required to file GST returns quarterly and an annual return.

Non-Resident Taxable Persons: Non-resident entities making taxable supplies in India must file GST returns.

E-Commerce Operators: Platforms facilitating sales through e-commerce must file GST returns for the supplies made through them.

Input Service Distributors: Businesses distributing input tax credit to their branches must file returns.

Taxpayers under Zero-Rated Supplies: Exporters and businesses involved in zero-rated supplies need to file returns to claim refunds.

Suspended or Canceled Registrations: Even if a taxpayer's GST registration is suspended or canceled, they are required to file returns for the period they were active.

Annual Returns: All registered taxpayers must file an annual return, irrespective of the type of registration.

These requirements ensure compliance with GST regulations and accurate reporting of sales, purchases, and tax liability.

[scbhagat]

GST Return Filing Services in Delhi By SC Bhagat & Co.

The Goods and Services Tax (GST) system in India has streamlined the taxation process, but it can still be complex for businesses to navigate. Accurate and timely GST return filing is crucial for businesses to avoid penalties and ensure smooth operations. If you’re looking for reliable GST Return Filing Services in Delhi, SC Bhagat & Co. offers expert assistance tailored to your business needs.

Why GST Return Filing is Important? GST return filing is a legal obligation for businesses registered under the GST regime. It involves submitting details of sales, purchases, output GST (on sales), and input tax credit (GST paid on purchases) to the government. Filing returns correctly and on time ensures:

Compliance with Regulations: Non-compliance with GST regulations can result in hefty fines and interest on unpaid taxes. Input Tax Credit: Proper filing allows businesses to claim input tax credits, reducing the overall tax burden. Avoid Penalties: Timely filing helps avoid late fees and penalties, which can accumulate quickly. Smooth Audits: Maintaining accurate records through return filing facilitates hassle-free audits. Types of GST Returns in India Different types of GST returns need to be filed depending on the business type and activities. Here's an overview of the major returns:

GSTR-1: Details of outward supplies of goods and services (sales). GSTR-3B: Summary return showing total taxable value and taxes paid. GSTR-4: Return for composition scheme taxpayers. GSTR-9: Annual return for normal taxpayers. GSTR-10: Final return when GST registration is canceled. Why Choose SC Bhagat & Co. for GST Return Filing Services in Delhi? Expert Team: SC Bhagat & Co. has a team of experienced professionals who specialize in GST regulations. They stay updated with the latest changes in GST laws to ensure compliance and accuracy in your filings.

End-to-End Service: From compiling the necessary data to submitting the return on time, SC Bhagat & Co. provides comprehensive GST return filing services. They handle everything, so you don’t have to worry about the complexities involved.

Customized Solutions: Every business is unique, and so are its GST filing requirements. SC Bhagat & Co. offers personalized services that cater to the specific needs of your business, ensuring that you only pay the taxes you owe and nothing more.

Timely Filing: SC Bhagat & Co. prioritizes deadlines and ensures that all GST returns are filed within the stipulated time frame, avoiding any late penalties.

Affordable Services: High-quality service doesn’t have to come with a high price tag. SC Bhagat & Co. offers competitive rates for their GST return filing services, making them accessible to small and medium-sized businesses in Delhi.

Common GST Filing Challenges Solved by SC Bhagat & Co. Errors in Data Entry: Mistakes in entering sales and purchase data can lead to discrepancies. SC Bhagat & Co. ensures that all data is accurately compiled to avoid errors.

Complex Tax Rules: GST laws are constantly evolving, making it hard for businesses to stay compliant. With their expert knowledge, SC Bhagat & Co. keeps your business updated with the latest regulations.

Delayed Filings: Late filings lead to penalties, but SC Bhagat & Co. ensures timely submissions, minimizing risks of fines.

Mismatch in Input Tax Credit: They help reconcile input tax credit claims, ensuring you don’t lose out on eligible credits due to mismatched data.

How to Get Started? Partnering with SC Bhagat & Co. for GST return filing in Delhi is easy. Simply reach out to their team, and they will guide you through the process, offering personalized assistance based on your business requirements.

Conclusion Accurate and timely GST return filing is essential for maintaining tax compliance and maximizing input tax credits. With SC Bhagat & Co.’s GST Return Filing Services in Delhi, businesses can enjoy peace of mind knowing their GST obligations are handled by experts. Save time, avoid penalties, and stay compliant by letting SC Bhagat & Co. manage your GST returns.

[masllp]

Simplify GST Return Filing in Delhi with MASLLP: Your Trusted Partner

Introduction: Navigating the complexities of GST return filing in Delhi can be challenging for businesses of all sizes. To ensure compliance and avoid penalties, it’s crucial to have a reliable partner who understands the intricacies of the GST regime. MASLLP is your go-to expert for GST return filing in Delhi, offering comprehensive services to simplify the process and ensure accuracy. In this blog, we will explore the importance of GST return filing, the common challenges faced, and how MASLLP can help you streamline your GST compliance.

Why GST Return Filing is Crucial GST return filing is a mandatory compliance requirement for businesses registered under the Goods and Services Tax (GST) regime in India. It involves reporting the details of sales, purchases, and tax collected and paid. Here’s why timely and accurate GST return filing is essential:

Legal Compliance Filing GST returns on time ensures that your business complies with the legal requirements set by the government. Non-compliance can lead to penalties and legal complications.

Input Tax Credit Accurate GST return filing allows businesses to claim Input Tax Credit (ITC) on their purchases, reducing the overall tax liability.

Financial Planning Regular GST return filing provides a clear picture of your tax liabilities and helps in effective financial planning and management.

Avoiding Penalties Timely filing helps avoid late fees and penalties, which can accumulate and become a financial burden for businesses. Common Challenges in GST Return Filing While GST return filing is crucial, businesses often face several challenges in the process:

Complexity of GST Laws The ever-evolving GST laws and regulations can be complex and difficult to interpret for businesses without specialized knowledge.

Accurate Data Entry Ensuring the accuracy of data related to sales, purchases, and tax payments is critical. Errors in data entry can lead to discrepancies and compliance issues.

Timely Filing Meeting the deadlines for various GST returns (GSTR-1, GSTR-3B, GSTR-9, etc.) can be challenging, especially for businesses with limited resources.

ITC Reconciliation Reconciling Input Tax Credit with suppliers' returns requires meticulous tracking and can be time-consuming. How MASLLP Can Help with GST Return Filing in Delhi MASLLP offers comprehensive GST return filing services designed to address these challenges and ensure seamless compliance. Here’s how we can help: Expertise and Knowledge Our team of GST experts stays updated with the latest GST laws and regulations, ensuring that your returns are filed accurately and on time. End-to-End Service From data collection and validation to filing returns and handling queries from the tax authorities, MASLLP provides end-to-end GST return filing services. Accuracy and Compliance We use advanced tools and software to ensure the accuracy of your data, minimizing the risk of errors and non-compliance. Timely Filing With MASLLP, you never have to worry about missing deadlines. We ensure that all your GST returns are filed on time, every time. ITC Reconciliation Our experts handle the complex process of ITC reconciliation, ensuring that you claim the maximum Input Tax Credit you are entitled to. Why Choose MASLLP for GST Return Filing in Delhi Client-Centric Approach At MASLLP, we prioritize our clients' needs and offer personalized services tailored to their specific requirements. Transparent Communication We maintain transparent communication with our clients, keeping them informed at every step of the GST return filing process. Cost-Effective Solutions Our GST return filing services are competitively priced, offering excellent value for money without compromising on quality. Conclusion GST return filing is a critical aspect of business compliance, and partnering with an expert like MASLLP can make the process hassle-free and efficient. With our expertise and commitment to excellence, we ensure that your GST returns are filed accurately and on time, allowing you to focus on your core business activities. Contact MASLLP today to learn more about our GST return filing services in Delhi and how we can assist you in achieving seamless compliance.

[finschool]

Indirect Tax

Recent changes in Indirect Tax

Indirect taxes are taxes that are assessed by Government on goods and services, rather than on individualities or businesses directly. These taxes are collected by businesses from consumer when they buy goods or services, and also remitted to the government. Indirect taxes are often referred to as consumption taxes because they are based on consumption of goods and services rather than income or wealth. Indirect taxes can take many forms, including sales taxes, value-added taxes (VAT), excise taxes, and tariffs.

During the Union Budget of 2023 “Amrit Kaal”, It was the very first time when the indirect tax proposals were presented before the direct tax proposals. In the Proposal of indirect tax Presented in the Union Budget of 2023 there were 4 major changes which caught the attention of the citizens.

Following are the 4 major changes:

Customs Perspective:  In the Union Budget, to promote the ‘Make in India’ campaign and give to a boost to domestic manufacturing and enhance exports, the government and our FM has proposed few changes in the rate of import duties. The import duties on electric chimneys and cigarettes will now be more expensive, while on the other hand import of gold, silver, platinum, coin, etc., will be cheaper. Also, some exemption has been proposed towards goods or machinery used for manufacturing of lithium-ion battery.

GST Returns To Be Filed Within Three Years:  GSTR 1, GSTR 3B and GSTR 9and GSTR 9C would now be restricted for filing, post expiry of three years from the due date of filing of the relevant GST return. Until now, there was no threshold on time for filing GST return and any taxpayer could file belated returns along with interest and late fees. However, going forward, in future these dates have been locked so as to have clarity on the timelines for litigation.

Widening of Scope of OIDAR:  The Online Information and Database Access and Retrieval (OIDAR) services were brought under the tax bracket in the service tax regime and subsequently, in the GST regime. However, due to some exceptions in OIDAR and non-taxable online recipient, multiple services were escaping tax. In order to remove those exceptions, the Budget proposes to amend both the definitions and make OIDAR a wider segment for taxability purpose.

Taxability of High Sea Sales and Out-And-Out Sales: Out-and-out sales and high-sea sales were inserted in schedule III of the CGST Act, 2017 with effect from Feb. 1, 2019. However, the GST authorities were demanding GST from July 1, 2017 to Jan. 31, 2019. So to clarify this ambiguity and confusion, the budget has stated that such insertion will be with retrospective effect from July 1, 2017. This is a relief for taxpayers who are undergoing a litigation on these aspects. However, if the taxpayer has already paid the taxes for such period on the specified sales, the Budget has clearly specified that no refund of such tax can be claimed.

Although there are other changes as well but from Tax perspective the above 4 are major changes.

[renukamd]

How to Obtain a Digital Signature Certificate for Company Registration

Digital Signature Certificates (DSCs) play a crucial role in the digital landscape by providing authentication and security to electronic documents and transactions. Whether filing income tax returns, incorporating a company, or signing online documents, DSC registration has become integral to various digital processes. If you're navigating the world of digital signatures and must register for a DSC, this guide will walk you through everything you need to know.

What is a Digital Signature Certificate (DSC)?

A Digital Signature Certificate (DSC) is the digital equivalent of a physical signature in electronic format. It offers authenticity, integrity, and non-repudiation of signed electronic documents. DSCs are issued by Certifying Authorities (CAs) licensed to issue digital certificates.

Types of Digital Signature Certificates Registration:

1. Class 1 DSC: These are issued to verify email IDs and are typically used in online applications where the risk of data compromise is minimal.

2. Class 2 DSC: This class is used for filing income tax returns, GST returns, and company incorporation. It verifies the applicant's identity against a pre-verified database.

3. Class 3 DSC: Offering the highest level of security, Class 3 DSCs are used in e-tendering, e-procurement, and online auctions. They involve the highest level of identity verification.

Steps for DSC Registration:

1. Choose a Certifying Authority (CA): Select a licensed Certifying Authority authorised by the Controller of Certifying Authorities (CCA) to issue DSCs.

2. DSC Application Form: The selected CA will provide the DSC application form, which requires personal details such as name, address, email ID, and contact information.

3. Identity Verification: Depending on the class of DSC, you'll need to provide identity proof documents such as a PAN card, Aadhar card, passport, or driver's license. For Class 3 DSC, the verification process may include physical verification by a designated authority.

4. Submit Application and Documents: Complete the application form accurately and submit it along with the required documents to the CA. Double-check all the information provided.

5. Payment: Pay the applicable fee for DSC issuance. The cost may vary depending on the class of DSC and the chosen Certifying Authority.

6. DSC Issuance: After verifying your application and documents, the certifying authority will issue the digital signature certificate.

7. Downloading DSC: Once issued, you can download your DSC and the cryptographic keys from the CA's website. Ensure that you securely store the DSC file and keys.

Validity and Renewal:

DSCs have a validity period, typically one to three years, depending on the class chosen. Before the certificate expires, you must renew it to continue using it for digital transactions. The renewal process involves steps similar to those of the initial registration process.

Conclusion:

Digital Signature Certificates are essential for secure and legally recognised digital transactions. Whether you're an individual filing tax returns or a business engaging in e-commerce, having a DSC Registration streamlines and secures your online activities. Following the steps outlined in this guide, you can successfully register for a DSC and leverage its benefits in the digital world. Remember to choose a reputable Certifying Authority and secure your DSC to ensure its integrity and effectiveness.

[ipasantosh]

GST Training Course for Beginners and Professionals

GST Course: Understanding the Gateway to Taxation Knowledge

जीएसटी कोर्स: कराधान ज्ञान का प्रवेशद्वार समझें

Introduction: What is GST? परिचय: जीएसटी क्या है?

Goods and Services Tax (GST) is a unified tax system implemented in India to simplify the tax structure. It eliminates the cascading effect of multiple taxes and promotes a transparent taxation mechanism. Understanding GST is crucial for businesses, accountants, and tax consultants, which is why enrolling in a GST course can be a valuable step. गुड्स एंड सर्विसेज़ टैक्स (जीएसटी) भारत में लागू एकीकृत कर प्रणाली है, जो कर ढांचे को सरल बनाती है। यह कई करों के दोहरे प्रभाव को समाप्त करती है और पारदर्शी कराधान प्रणाली को बढ़ावा देती है। जीएसटी को समझना व्यवसायों, लेखाकारों और कर सलाहकारों के लिए महत्वपूर्ण है। इसलिए, जीएसटी कोर्स में दाखिला ले��ा एक लाभदायक कदम हो सकता है।

Why Enroll in a GST Course?

जीएसटी कोर्स में दाखिला क्यों लें?

Practical Knowledge GST courses provide hands-on experience with tax calculations, filing GST returns, and understanding compliance regulations. जीएसटी कोर्स कर गणना, जीएसटी रिटर्न दाखिल करने और अनुपालन नियमों को समझने का व्यावहारिक अनुभव प्रदान करते हैं।

Career Advancement A GST certification boosts your resume and opens doors to opportunities in accounting, finance, and tax consultancy. जीएसटी सर्टिफिकेशन आपके रिज़्यूमे को मजबूत करता है और लेखांकन, वित्त और कर परामर्श में अवसर प्रदान करता है।

Business Benefits Entrepreneurs gain insights into managing taxes effectively, reducing penalties, and ensuring compliance. उद्यमी करों को प्रभावी ढंग से प्रबंधित करने, जुर्माने को कम करने और अनुपालन सुनिश्चित करने में विशेषज्ञता प्राप्त करत�� हैं।

Key Topics Covered in GST Courses

जीएसटी कोर्स में शामिल मुख्य विषय

Introduction to GST

History and need for GST.

Types of GST: CGST, SGST, IGST, and UTGST.

GST structure and framework. जीएसटी का इतिहास और आवश्यकता, सीजीएसटी, एसजीएसटी, आईजीएसटी और यूटीजीएसटी जैसे जीएसटी के प्रकार।

GST Registration Process

Eligibility for GST registration.

Step-by-step online registration.

Documents required for GST registration. जीएसटी पंजीकरण की पात्रता, ऑनलाइन पंजीकरण की चरणबद्ध प्रक्रिया, और आवश्यक दस्तावेज़।

GST Returns Filing

Types of GST returns (GSTR-1, GSTR-3B, etc.).

Due dates and penalties for late filing. जीएसटी रिटर्न के प्रकार, देरी से दाखिल करने के लिए समय सीमा और जुर्माना।

GST Compliance and Auditing

Importance of compliance in business.

GST audit process and annual returns. व्यवसाय में अनुपालन का महत्व और जीएसटी ऑडिट प्रक्रिया।

Duration and Fees of GST Courses

जीएसटी कोर्स की अवधि और फीस

GST courses typically last between 1 to 3 months, depending on the mode of learning (online or offline). The fee ranges from ₹5,000 to ₹25,000, based on the institute and course content. जीएसटी कोर्स की अवधि आमतौर पर 1 से 3 महीने होती है, जो सीखने के माध्यम (ऑनलाइन या ऑफलाइन) पर निर्भर करती है। फीस संस्थान और पाठ्यक्रम सामग्री के आधार पर ₹5,000 से ₹25,000 तक हो सकती है।

Eligibility for GST Courses

जीएसटी कोर्स के लिए पात्रता

Basic Knowledge Candidates should have basic knowledge of accounting and taxation. उम्मीदवारों को लेखांकन और कराधान का बुनियादी ज्ञान होना चाहिए।

Educational Qualification A degree in commerce or related fields is preferred but not mandatory. वाणिज्य या संबंधित क्षेत्रों में डिग्री वांछनीय है, लेकिन अनिवार्य नहीं।

Job Opportunities After Completing GST Course

जीएसटी कोर्स पूरा करने के बाद रोजगार के अवसर

GST Consultant Assist businesses in GST compliance and filing returns. व्यवसायों को जीएसटी अनुपालन और रिटर्न दाखिल करने में सहायता करें।

Accountant Manage GST records and accounts for companies. कंपनियों के लिए जीएसटी रिकॉर्ड और खाते प्रबंधित करें।

Tax Advisor Provide advisory services related to GST planning and implementation. जीएसटी योजना और कार्यान्वयन से संबंधित परामर्श सेवाएं प्रदान करें।

Government Jobs Work in tax departments as a GST officer or auditor. कर विभागों में जीएसटी अधिकारी या लेखा परीक्षक के रूप में कार्य करें।

How to Choose the Best GST Course?

सर्वश्रेष्ठ जीएसटी कोर्स कैसे चुनें?

Accreditation Ensure the course is certified by a recognized institute. सुनिश्चित करें कि कोर्स किसी मान्यता प्राप्त संस्थान से प्रमाणित हो।

Faculty Expertise Check the qualifications and experience of instructors. प्रशिक्षकों की योग्यता और अनुभव की जांच करें।

Course Content Look for a comprehensive curriculum covering practical aspects. व्यावहारिक पहलुओं को शामिल करने वाले पाठ्यक्रम की तलाश करें।

Reviews and Testimonials Read reviews from previous students to gauge course effectiveness. पाठ्यक्रम की प्रभावशीलता का आकलन करने के लिए पूर्व छात्रों की समीक्षाएं पढ़ें।

Conclusion

निष्कर्ष

A GST course is a stepping stone for those looking to excel in taxation and finance. It not only enhances your skill set but also opens up diverse career opportunities. Whether you're an aspiring accountant, an entrepreneur, or a tax consultant, this course will equip you with the tools to succeed in the competitive world of taxation. जीएसटी कोर्स कराधान और वित्त में उत्कृष्टता प्राप्त करने के इच्छुक लोगों के लिए एक महत्वपूर्ण कदम है। यह न केवल आपके कौशल को बढ़ाता है बल्कि विविध करियर के अवसर भी प्रदान करता है। चाहे आप एक उभरते हुए लेखाकार हों, एक उद्यमी, या एक कर सलाहकार, यह कोर्स आपको प्रतिस्पर्धी कराधान की दुनिया में सफल होने के लिए आवश्यक उपकरण प्रदान करेगा।

IPA Offers

 Diploma in Taxation,   Courses after 12th Commerce ,  courses after bcom

Diploma in Financial Accounting , SAP fico Course ,  Accounting and Taxation Course  ,  GST Course  ,  Basic Computer Course ,  Payroll Course, Tally Course , Advanced Excel Course , One year course  ,  Computer adca course  ,  Income Tax Course

[india-company-registration]

⏰Due Date Reminder!!⏰

Managing your GST returns can feel overwhelming, but staying on top of due dates is the key to compliance and avoiding penalties! . 🗓️ GST Deadlines for January 2025 . ✔ GSTR-1: File by 11th January 2025 ✔ GSTR-3B: File by 20th January 2025 . ⏳ Why File on Time? ✅ Avoid penalties and late fees ✅ Maintain smooth business operations ✅ Stay GST compliant effortlessly . File the same immediately to avoid interest & penalty! Contact for more Info! . 📩 Contact@Company-Registration.in 📞+91-8800-100-284 🌏 www.company-registration.in/

[toplawfirmindia]

🎯 Stay Compliant with GST Deadlines! . 📅 GSTR-1 Due Date: 11th January 2025 📅 GSTR-3B Due Date: 20th January 2025 . 💡 Tips to Remember: ✅ File your returns on time to avoid late fees and penalties. ✅ Ensure accuracy in your data to maintain a smooth compliance journey. . ⏳ Don't wait till the last minute – file early and stay stress-free! . File the same immediately to avoid interest & penalty! Contact for more Info! . 📩 companies@globaljurix.com 📞 +91-88001 00284 | +91-98100 62387 🌏 www.globaljurix.com

[ipatally]

 Best Online Income Tax Course with Certification

Introduction

Income tax is a cornerstone of any nation's economic system. Professionals who understand tax laws, compliance requirements, and filing procedures are in high demand. An income tax course equips individuals with the skills and knowledge required to handle taxation tasks effectively.

What is an Income Tax Course?

An income tax course provides comprehensive training on tax laws, filing procedures, and compliance regulations. These courses are tailored for accountants, finance professionals, and business owners seeking to master tax-related concepts.

This course ensures learners gain practical experience along with theoretical knowledge. It covers everything from basic definitions to advanced tax planning strategies.

Importance of Income Tax Courses

Understanding income tax is not just crucial for accountants but also for individuals managing personal finances. The key reasons to pursue an income tax course include:

Professional Growth: Enhance your career prospects with advanced knowledge.

Compliance Mastery: Stay updated on tax laws and regulations.

Better Financial Planning: Help clients or businesses save taxes legally.

Key Features of Income Tax Courses

Income tax courses come with unique features designed to deliver a complete learning experience:

Updated Curriculum: Focused on current laws and regulations.

Expert Faculty: Industry professionals lead the courses.

Practical Training: Hands-on experience with tax filing software.

Certifications: Earn credentials recognized across industries.

Types of Income Tax Courses

Basic Income Tax Courses

These are entry-level courses suitable for beginners. They cover fundamental concepts like tax slabs, exemptions, and deductions.

Advanced Income Tax Courses

Designed for professionals, these courses delve into complex topics like international taxation, audits, and litigation.

Specialized Income Tax Courses

These focus on niche areas, such as GST integration, corporate tax planning, or digital tax filing.

Curriculum of an Income Tax Course

Core Subjects

Income Tax Laws: Definitions, exemptions, and penalties.

Tax Compliance: Filing returns and documentation.

Tax Planning: Strategies for legal tax savings.

Practical Training Modules

Software Use: Hands-on training with tax filing tools.

Case Studies: Real-world examples for better understanding.

Project Work: Filing mock returns and preparing audit reports.

Case Studies and Projects

Practical application is vital in taxation. Case studies simulate real-life scenarios, helping students develop problem-solving skills.

Benefits of Enrolling in an Income Tax Course

Enhanced Knowledge: Gain in-depth understanding of tax regulations.

Career Opportunities: Access to roles like tax consultant or analyst.

Higher Earnings: Skilled professionals command better salaries.

Personal Benefits: Manage personal or family tax filings efficiently.

Eligibility and Prerequisites

Most income tax courses require a background in commerce or accounting. However, some basic courses welcome beginners. Prerequisites typically include:

A bachelor's degree (preferred for advanced courses).

Basic computer literacy for digital filing tools.

Duration and Fee Structure

Duration: Courses range from 3 months to 1 year, depending on complexity.

Fee: Costs vary widely, starting from ₹10,000 for basic courses to ₹50,000 or more for advanced ones. 

Top Institutes Offering Income Tax Courses

Institute of Chartered Accountants of India (ICAI).

National Institute of Financial Markets (NIFM).

Coursera and Udemy (online platforms).

Local coaching centers with tailored training programs.

Job Opportunities After Completion

Completing an income tax course opens doors to several career paths, including:

Tax Consultant: Advising clients on tax planning.

Tax Analyst: Working with firms to ensure compliance.

Auditor: Verifying financial statements for accuracy.

Finance Manager: Overseeing tax-related aspects of businesses.

Tips for Choosing the Right Course

Evaluate Your Goals: Choose a course aligned with your career aspirations.

Check Accreditation: Ensure the institute is reputable.

Look for Practical Training: Hands-on experience is essential.

Consider Flexibility: Online courses offer convenience for working professionals.

Conclusion

An income tax course is an investment in your professional future. It provides the expertise required to excel in taxation, enhances career prospects, and builds trust with clients or employers. Whether you are an aspiring accountant or an experienced professional, mastering income tax concepts will set you apart in the competitive finance sector.

IPA  offers:- 

Accounting Course ,      Courses after 12th Commerce ,  courses after bcom

Diploma in Financial Accounting , SAP fico Course ,  Accounting and Taxation Course  ,  GST Course  ,  Basic Computer Course ,  Payroll Course, Tally Course , Advanced Excel Course , One year course  ,  Computer adca course     

[baitdragon]

Kewal Ahuja SGF Franchise Scandal: Exposing Deceptive Practices and Advocating for Investor

The SGF (Spice Grill Flame) franchise, led by Kewal Ahuja SGF, has faced severe scrutiny following allegations of financial misconduct. Investors, who were promised substantial returns through the Franchise-Owned, Company-Operated (FOCO) model, have reported sudden payment stops and unexpected outlet closures. These actions have caused significant financial losses, with many investors now seeking restitution through legal cases. The situation has raised concerns about deceptive business practices and the lack of accountability from Kewal Ahuja SGF, further intensifying the demand for justice and regulatory action.

Fraudulent Practices Under Kewal Ahuja’s Leadership

The FOCO model, led by Kewal Ahuja SGF, initially promised substantial returns, including a 223% return over six years. However, after many investors committed large sums based on these promises, outlets were abruptly closed, and payments stopped without warning. This lack of communication has caused a severe financial strain on the affected franchisees, with some losing their life savings.

Legal Action and Investor Backlash

Legal action against SGF and Kewal Ahuja has intensified, with many seeking to recover their investments. Cases have been filed in Delhi courts, but SGF has yet to present any formal defense. The lack of transparency and communication from Kewal Ahuja SGF has only deepened the frustration of investors who trusted the business model.

Regulatory Violations and Non-Compliance by SGF

Further investigations into SGF's operations have exposed significant regulatory failures. SGF, under Kewal Ahuja’s leadership, is accused of failing to report large franchise fees to key authorities, such as the Income Tax Department and the GST Council. The company has also been non-compliant with the Ministry of Corporate Affairs (MCA), which raises concerns about potential financial fraud and corporate misconduct.

The Need for Transparency and Investor Protection

The situation surrounding Kewal Ahuja SGF highlights the urgent need for greater transparency in franchising. Prospective investors must carefully research and verify the legitimacy of business opportunities to avoid falling victim to fraudulent schemes. Regulatory bodies must also ensure stricter monitoring of franchising companies to protect investors from deceptive business practices.

Conclusion: A Wake-Up Call for the Franchising Industry

The SGF franchise scandal, under Kewal Ahuja's leadership, underscores the importance of transparency, regulatory compliance, and accountability in the franchising sector. This case serves as a reminder of the dangers posed by deceptive business practices and the need for stricter regulations to protect investors. By exposing these fraudulent activities, we hope to foster a more transparent, ethical, and trustworthy marketplace in the franchising industry.

[legalaritech]

How Much Does GST Cancellation Cost in Ghaziabad?

The Goods and Services Tax (GST) system has streamlined tax processes across India, gst cancellation fees in Ghaziabad  providing businesses with a unified platform for compliance.

However, there are instances when a business may need to cancel its GST registration.

Whether due to the closure of a business, a shift in operational structure, Legalari  or eligibility criteria changes, understanding the cost and process of GST cancellation is essential.

This article delves into the details of GST cancellation fees in Ghaziabad and outlines the associated procedures.

Reasons for GST Cancellation

Before discussing the costs, it’s important to understand why a business might cancel its GST registration. Common reasons include:

Closure of Business: If the business ceases operations permanently.

Change in Ownership or Structure: In cases of mergers, acquisitions, or restructuring.

Turnover Below Threshold: Businesses that no longer meet the GST turnover criteria.

Violation of GST Rules: Non-compliance with GST laws may lead to cancellation by authorities.

GST Cancellation Process in Ghaziabad

The process of cancelling GST registration in Ghaziabad is straightforward but requires careful attention to detail. Here’s an overview:

Online Application: Log in to the GST portal and submit Form GST REG-16, providing reasons for cancellation and any supporting documents.

Verification: Authorities review the application and may request additional documents or clarification.

Final Clearance: Pending liabilities must be cleared before cancellation is approved.

Cancellation Certificate: Once approved, a cancellation certificate is issued.

Costs Associated with GST Cancellation

While the GST portal does not charge any direct fees for cancellation, certain costs may arise during the process:

Professional Charges: Many businesses in Ghaziabad hire tax consultants or Chartered Accountants (CAs) to ensure the process is completed accurately.

Professional fees can range from ₹500 to ₹5000, depending on the complexity of the case.

Penalty for Non-Compliance: If GST returns have not been filed on time or there are unpaid dues, penalties and late fees may apply.

These charges are calculated based on the delay duration and the outstanding amount.

Pending Liabilities: Any pending GST liabilities must be settled before cancellation. This could include:

Tax dues for previously unfiled returns.

Interest on delayed payments.

Document Preparation Costs: In some cases, businesses may need to prepare additional documentation or affidavits, incurring notarization or legal fees.

Factors Influencing GST Cancellation Fees in Ghaziabad

Several factors determine the total cost of GST cancellation:

Nature of Business: Larger businesses with complex tax structures may incur higher professional fees due to detailed record verification and reconciliation.

Compliance Status: Businesses with pending returns or non-compliance issues face additional penalties and interest charges.

Consultant Expertise: The fees charged by professionals vary based on their experience and expertise.

Tips to Minimize GST Cancellation Costs

To reduce the financial burden of GST cancellation, consider the following tips:

File Returns on Time: Ensure all GST returns are up-to-date to avoid penalties and interest.

Hire a Reputable Consultant: A qualified professional can streamline the process and help you avoid costly mistakes.

Maintain Accurate Records: Proper documentation reduces the time and cost associated with reconciliation and verification.

Plan Ahead: Initiate the cancellation process as soon as you decide to discontinue your business operations to avoid unnecessary delays and charges.

Common Challenges During GST Cancellation

Businesses in Ghaziabad may face challenges during GST cancellation, such as:

Pending Dues: Failure to clear all liabilities can delay the cancellation process.

Incomplete Applications: Missing or incorrect details in Form GST REG-16 can result in rejection.

Additional Scrutiny: Authorities may scrutinize records more rigorously if past compliance issues are detected.

Importance of Professional Assistance

While the GST portal simplifies many tax-related processes, navigating the intricacies of cancellation can be daunting, especially for businesses with complex operations. Hiring a tax consultant or CA ensures that:

All documents are accurately prepared and submitted.

Penalties and dues are calculated correctly.

The entire process is handled efficiently, saving time and effort.

Conclusion

GST cancellation is an important step for businesses that no longer require registration under the GST regime.

While there are no direct charges levied by the GST portal, associated costs like professional fees, gst cancellation fees in Ghaziabad  penalties, and documentation expenses can add up.

By staying compliant, maintaining accurate records, and seeking professional guidance, businesses in Ghaziabad can complete the process smoothly and cost-effectively.

Understanding GST cancellation fees in Ghaziabad helps businesses plan better and avoid unnecessary expenses.

Whether you’re a small business owner or a large enterprise, staying informed about the requirements and costs ensures a hassle-free experience.

[sabkapaisa]

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[ipasantosh]

Top Accountant Courses: Build a Successful Finance Career

Introduction

Accountants play a vital role in managing finances and ensuring smooth business operations. An accountant course is designed to equip individuals with the knowledge and skills necessary to excel in the field of accounting. In this article, we will explore everything you need to know about accountant courses, from their types and benefits to career opportunities.

What is an Accountant Course?

An accountant course is a structured program that teaches the fundamentals of accounting. It covers topics like financial statements, bookkeeping, taxation, and auditing. These courses cater to beginners and professionals aiming to enhance their expertise in accounting practices.

Importance of Accountant Courses

·         Enhance financial literacy.

·         Improve career prospects.

·         Build analytical and problem-solving skills.

·         Equip individuals with tools to manage personal and business finances effectively.

Types of Accountant Courses

Certificate Courses

·         Short-term programs.

·         Focus on specific skills like bookkeeping or GST compliance.

·         Ideal for beginners.

Diploma Courses

·         Cover broader accounting topics.

·         Suitable for those seeking intermediate-level expertise.

Degree Programs

·         Include Bachelor’s and Master’s degrees.

·         Offer in-depth knowledge of accounting and related fields.

Online Courses

·         Flexible and self-paced.

·         Cover topics like financial modeling, taxation, or accounting software.

Key Skills Covered in Accountant Courses

·         Bookkeeping: Recording daily financial transactions.

·         Financial Reporting: Preparing and analyzing financial statements.

·         Taxation: Understanding tax laws and filing returns.

·         Auditing: Ensuring financial accuracy and compliance.

·         Accounting Software: Proficiency in tools like Tally and QuickBooks.

Benefits of Pursuing an Accountant Course

·         Career Growth: Open doors to high-paying jobs.

·         Practical Knowledge: Learn real-world applications of accounting.

·         Networking Opportunities: Connect with professionals in the industry.

·         Job Security: Accounting skills are always in demand.

Eligibility Criteria for Accountant Courses

·         Certificate and Diploma Courses: High school education.

·         Degree Programs: Completion of 12th-grade commerce stream.

·         Advanced Courses: Bachelor’s degree in accounting or related field.

Duration of Accountant Courses

·         Certificate Courses: 3 to 6 months.

·         Diploma Courses: 6 months to 1 year.

·         Degree Programs: 3 to 4 years.

·         Online Courses: Vary based on the program.

Fee Structure for Accountant Courses

Course Type

Fee Range

Certificate Courses

₹10,000 - ₹30,000

Diploma Courses

₹20,000 - ₹50,000

Degree Programs

₹50,000 - ₹1,50,000

Online Courses

₹5,000 - ₹50,000

Syllabus of Accountant Courses

Core Topics

·         Basics of Accounting

·         Financial Statements

·         Cost Accounting

·         Taxation Principles

Specialized Topics

·         Advanced Financial Management

·         International Accounting Standards

·         Corporate Laws

·         Audit Procedures

Career Opportunities After Completing Accountant Courses

·         Chartered Accountant (CA)

·         Certified Public Accountant (CPA)

·         Tax Consultant

·         Financial Analyst

·         Internal Auditor

Salary Prospects for Accountants

·         Entry-level accountants earn around ₹3,00,000 per year.

·         Experienced professionals can earn up to ₹20,00,000 annually.

·         Salaries vary based on location, industry, and qualifications.

Tips for Choosing the Right Accountant Course

·         Assess your career goals.

·         Check course accreditation.

·         Compare curriculum and faculty.

·         Evaluate cost and duration.

·         Read student reviews.

Conclusion

An accountant course is a gateway to a rewarding career in finance. It provides the skills and knowledge needed to excel in various roles. Whether you are a beginner or a seasoned professional, investing in the right accountant course can significantly enhance your career prospects.

 Links  NM 

 Diploma in Computer Application  , ·         Business Accounting and Taxation (BAT) Course ,      Basic Computer Course ,     GST Course ,     SAP FICO Course  ,    Payroll Management Course  ,  Diploma in Financial Accounting ,   Diploma In Taxation   ,    Tally Course

[corporatemitra]

Import Export Code Licensing: A Comprehensive Guide

Corporate Mitra is your trusted partner in navigating the complexities of business compliance. One of the most crucial aspects of international trade is obtaining an Import Export Code (IEC) license. This blog will delve deep into everything you need to know about IEC licensing and how Corporate Mitra can simplify the process for you.

What is Import Export Code (IEC)?

An Import Export Code (IEC) is a 10-digit unique identification number issued by the Directorate General of Foreign Trade (DGFT) in India. This code is mandatory for any business or individual engaging in international trade activities, whether importing goods or exporting them.

Key Features of IEC:

Mandatory for Import and Export: No individual or company can engage in international trade without an IEC license.

One-Time Registration: The code is issued for a lifetime and does not require renewal.

Ease of Business: IEC simplifies the process of customs clearance, foreign exchange, and international transactions.

Who Needs an IEC License?

An Import Export Code license is essential for:

Individuals or Companies involved in importing goods for business or personal use.

Exporters looking to sell products or services internationally.

E-commerce Platforms engaged in cross-border trade.

Businesses seeking to claim export incentives under various government schemes.

Why is IEC Important?

Benefits of IEC Licensing:

Facilitates Global Trade: An IEC license is your gateway to international markets, enabling seamless import and export transactions.

Customs Clearance: The IEC is required for customs authorities to clear imported goods or verify export shipments.

Availing Government Benefits: Several schemes, such as the Merchandise Exports from India Scheme (MEIS) and Service Exports from India Scheme (SEIS), require an IEC for eligibility.

Bank Transactions: An IEC is crucial for banks to process foreign currency payments related to imports and exports.

How to Obtain an IEC License?

Corporate Mitra provides a streamlined process to help you acquire your Import Export Code effortlessly. Here’s a step-by-step guide:

Step 1: Documentation

Gather the necessary documents, including:

PAN Card of the applicant (individual or company).

Identity Proof: Aadhaar card, passport, voter ID, or driving license.

Address Proof: Utility bills, rent agreements, or bank statements.

Bank Certificate or Cancelled Cheque.

Business Registration Certificate: GST registration or incorporation certificate (if applicable).

Step 2: Online Application

Visit the official DGFT portal.

Register using your PAN and mobile number.

Fill out the online IEC application form (Form ANF-2A).

Step 3: Upload Documents

Scan and upload the required documents in the prescribed format.

Step 4: Payment

Pay the government fees for IEC issuance. The fee is nominal and can be paid online.

Step 5: Verification and Approval

Once submitted, the DGFT verifies the application and issues the IEC license electronically.

Common Challenges in IEC Licensing

While the process seems straightforward, applicants often face challenges such as:

Documentation Errors: Missing or incorrect information can delay the approval.

Technical Glitches: The online portal may experience downtime, causing inconvenience.

Compliance Issues: Misalignment with regulatory requirements can lead to rejections.

How Corporate Mitra Can Help:

With years of experience, Corporate Mitra ensures:

Accurate documentation.

Hassle-free submission.

Timely follow-ups with authorities.

Post-IEC Licensing Compliance

After obtaining the Import Export Code, businesses must adhere to certain compliance requirements:

Annual Updates: Keep your IEC details updated on the DGFT portal to avoid penalties.

GST Filing: Ensure timely filing of GST returns if applicable.

Customs Declarations: Maintain transparency in all customs-related documentation.

Adherence to Trade Policies: Stay updated with international trade regulations and government policies.

Frequently Asked Questions (FAQs)

1. Is IEC mandatory for all businesses?

Yes, any entity engaging in international trade requires an Import Export Code license.

2. Can an individual apply for IEC?

Yes, individuals can apply for an IEC license if they wish to engage in import/export activities.

3. Is there an annual renewal fee for IEC?

No, the IEC license is valid for a lifetime and does not require renewal.

4. Can IEC be used for both goods and services?

Yes, the Import Export Code applies to both goods and services.

5. What happens if I don’t have an IEC?

Without an IEC license, you cannot legally import or export goods/services, and you may face penalties.

Conclusion

Obtaining an Import Export Code license is a crucial step for businesses looking to expand their horizons globally. With Corporate Mitra by your side, the process becomes seamless and stress-free. From documentation to compliance, we ensure that your business is always a step ahead in the international trade arena.

Ready to take your business global? Contact Corporate Mitra today to kickstart your journey with hassle-free IEC licensing support.

Reference By - https://corporatemitra.wordpress.com/2024/12/21/import-export-code-licensing-a-comprehensive-guide/

[safe-money]

KSCAA writes letter to income tax dept about taxpayers being wrongly charged late penalty for ITR filing

Multiple experts have voiced their concerns about the Centralised Processing Centre (CPC) of the income tax department making errors in processing income tax returns (ITR). The Karnataka State Chartered Accountants Association (KSCAA) has sent a representation to the CBDT in this regard. KSCAA's representation says that the CPC has erred in considering the due date for filing ITR and has imposed penalties even for those who filed ITR well within the deadline.

CPC Processing Errors, according to KSCAA

According to the representation by KSCAA (a copy of which was seen by ET Wealth Online) the errors in processing of ITRs noticed by them are as follows:

Old/ New tax regime: Numerous taxpayers have received intimations from CPC erroneously calculating their tax liability under the old tax regime, despite these taxpayers having opted for the new tax regime at time of filing their returns.

Incorrect due date considered: Certain taxpayers, specifically partners of firms liable to tax audit, have filed their income tax returns by the extended due date of November 15, 2024. However, the CPC has issued demand notices to these taxpayers, incorrectly considering the due date as July 31, 2024, and levying late filing fees of Rs 5,000 under Section 234F.

Interest under Section 234A and 234B: Many taxpayers have reported receiving demand notices where the CPC has incorrectly calculated interest under Sections 234A and 234B of the Act, resulting in inflated tax liabilities. Additionally, the absence of a detailed breakdown of the interest calculations in the intimation is creating difficulties for taxpayers to verify and address discrepancies.

Late fees for revised Return under section 234F: In certain cases, taxpayers have received demand notices imposing a late fee of Rs 5,000 under Section 234F on filing of revised returns under section 139(5) of the Act. This is erroneous, as in such cases the original return was filed within the due date specified under Section 139(1) of the Act and accordingly no late fee should be levied for filing a valid revised return.

Proportionate TDS credit allowed: In cases where TDS is deducted on non-income components like GST or other reimbursements, the credit of TDS is not allowed in total, though the assessee has suffered the deduction. This creates an unjust situation where the taxpayer has to forego the TDS credit forever.

Defective ITR Notices issued incorrectly: Classification of Income Head Based on TDS Deduction Section: Certain taxpayers have received defective notices incorrectly suggesting that income should be classified under the head "Profits and Gains from Business and Profession" rather than "Income from Other Sources" solely based on the section under which tax was deducted (such as Sections 194J or 194C of the Act), says the representation.

This treatment of income overlooks the fact that classification of an income item by the deductor cannot override/overshadow the true nature of income as received and recorded by the taxpayer. The representation adds: "Further, such an exercise requires application of mind which is often debatable and outside the domain of the adjustments stipulated under section 143(1). Therefore, such issues cannot be subject matter of automated proceedings by CPC under Section 143(1) of the Act.''

Notices for defective ITRs issued due to incorrect TDS classification in Form 26AS

KSCAA said in its representation:Many taxpayers have received notices for filing defective ITR after filing their Income Tax Return (ITR) in Form ITR-1, where Tax Deducted at Source (TDS) on interest income was initially, and erroneously, shown under Sections 194J and 194C in Form 26AS. Subsequently, form 26AS was corrected/ updated to reflect these deductions under the appropriate section for interest for interest income (Section 194A of the Act). Despite this correction, the CPC has issued defective notices, disregarding the updated and accurate classification in Form 26AS at the time of return filing.

Other ITR processing problems faced by taxpayers

ET Wealth Online has spoken with various other chartered accountants (CAs) who related the problems faced by some of the taxpayers whose ITRs the CAs had filed.. Here's what they said:

Chartered Accountant Abhishek Soni, co-founder, Tax2Win said: "We are receiving defective return notices, even though, according to the 26AS and our filed returns, everything appears to be correct. Below are some examples:

Net Income Amount as 0 in 26AS: In some cases, the 26AS reflects both positive and negative values, resulting in a net amount of 0. We have excluded this from our client's ITR. However, we have now received a defective notice from the department stating that you have ignored the income mentioned in the 26AS.

Presumptive Income Cases: We have declared income above the limit specified under the presumptive taxation sections. Despite this, we received a defective notice claiming that we have declared income lower than the prescribed 8% or 50%, as applicable.

Chartered Accountant Divya Jokhakar, partner, B. D. Jokhakar & Co: Some of our clients are partners of firms where tax audit is applicable. So, we noticed that CPC has recently processed ITR of partners of firms which are liable to tax audit, with a late filing penalty of Rs 5000. The due date of such return was November 15, 2024, extended from October 31, 2024. In another case the partners who had losses under certain income heads were barred from carrying forward (the loss) saying it's a belated return. CPC's processing despite filing in time is creating a lot of problems. The taxpayers have to apply for reprocessing and file grievance complaints.

Chartered Accountant Ashish Niraj, partner, A S N & company, says:  We filed an income tax return for a taxpayer who was subject to tax audit. So, we had filled a column in the ITR with the appropriate value of an income which is what should have been done as per the law. However, CPC flagged the return and sent a notice saying why we did not declare this income in another column of the ITR instead of the column we used. It was a small dispute, so we did not argue about the logic with CPC and ultimately did whatever CPC asked and the client's ITR got processed.

Sujit Bangar, founder, TaxBuddy says: Several issues reported by KSCAA were also observed in the cases of our clients. Some of the prominent problems as per our client ITR included:

TDS Mismatch for TCS Employees: Many employees from TCS who filed their ITRs received defective notices or demand notices after processing. Initially, these were assumed to be CPC errors, but upon review, it was found that TCS itself had filed incorrect TDS details. TCS acknowledged this issue and informed employees that they had approached the tax department for rectification. Eventually, these errors were corrected, and fresh intimations were issued to the employees, resolving the discrepancies.

Presumptive Income Under Section 44AD: Several ITRs filed under the presumptive taxation scheme (Section 44AD) with income declared at 6% or 8% were flagged with defective notices due to CPC errors during processing. This caused undue panic among taxpayers. As a tax service provider, we actively communicated with our clients to explain the issue and assist in resolving it. However, individuals filing independently or through unregulated channels may have faced significant challenges.

Processing ITRs Under Incorrect Tax Regime: A few cases were observed where ITRs filed under the old tax regime were processed under the default new regime, leading to demand notices. This issue was minor but present. When taxpayers filed revised returns or rectifications, the demand notices were resolved.

Incorrect Interest Under Sections 234A and 234B: Many taxpayers received demand notices with inflated interest amounts under Sections 234A and 234B due to calculation errors by the CPC. The lack of a detailed breakdown in the intimation made it challenging for taxpayers to verify the accuracy of the calculations, further complicating the resolution process.

Carry Forward of Losses with Incorrect Filing Dates:When pre-filled JSON files were downloaded for taxpayers, errors were noted in the carry-forward loss schedules. The filing dates for previous assessment years were incorrectly mentioned, resulting in the non-adjustment of eligible losses during processing. This led to inaccurate demands being raised.

Common ITR processing issue faced by some taxpayers- demand notice for late ITR filing

Both KSCAA and Jokhakar say that their clients had to pay late fees despite filing the ITR on time. "In certain cases, taxpayers have received demand notices imposing a late fee of Rs 5,000 under Section 234F of the Act on filing of revised returns under section 139(5) of the Act. This is erroneous, as in such cases the original return was filed within the due date specified under Section 139(1) of the Act," said KSCAA in its representation.

Jokhakar said: "Some clients of mine who faced this, even got a section 245 notice for adjusting this Rs 5,000 late filing fee with their tax refund due. This happened despite them filing the ITR before the deadline."

"Our representation to the Central Board of Direct Taxes highlights critical systemic issues in income tax return processing that are causing undue hardship to taxpayers and professionals. We are seeking urgent intervention to address defective notices, incorrect tax regime calculations, and processing errors at the Centralized Processing Centre, which are creating unnecessary compliance burdens for professionals and anxieties for taxpayers. Our goal is to work constructively with the tax authorities to ensure a fair, efficient, and taxpayer-friendly system," says Chartered Accountant Vijaykumar M Patel, President, Karnataka State Chartered Accountants Association (KSCAA).

What CPC needs to do, as per KSCAA's representation

In its representation KSCAA suggested the following steps be taken by CPC to solve the above issues:

Review and rectify defective ITR notice issuance

Ensure the classification of income is based on its true nature rather than solely going by the section under which TDS has been deduced by independent third party, to prevent undue misclassification for assessees.

Ensure that updated Form 26AS is considered for processing the income tax return filed by assessee.

TDS credit should be allowed in full especially if it is reflected in Form 26AS. The allowability of the same may be taken up during assessments, etc and not restricted while processing intimation.

Implement enhanced validation checks in CPC processing

KSCAA requested the implementation of stronger validation protocols to prevent processing errors in tax regime selection, due date recognition, and interest calculations. This would include:

Ensuring taxpayers' chosen tax regimes are respected in demand notices, avoiding unnecessary disputes.

Correctly identifying extended due dates in cases of tax audit, particularly for partners in audited firms, to prevent unwarranted demand notices.

Providing detailed breakdowns of interest under Sections 234A and 234B in demand notices, allowing taxpayers to verify calculations and address any discrepancies effectively.

Request that late fees under Section 234F not be imposed on returns filed within the due date under Section 139(1), even if subsequently revised.

Source Link: https://economictimes.indiatimes.com/wealth/tax/kscaa-writes-letter-to-tax-dept-about-taxpayers-being-wrongly-charged-late-penalty-for-itr-filing/articleshow/115886305.cms

Website Link: https://www.taxbuddy.com/