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1. Technological Hurdles: The GST regime brought in the need for businesses to file taxes online through the GSTN portal. However, frequent technical glitches, server downtimes, and difficulties in navigating the portal posed significant challenges, especially for small businesses unfamiliar with digital tax filing. [63] 2.
The U.S. Treasury Department has delayed the deadline for millions of small businesses to Jan. 13, 2025, to file a new form, known as a Beneficial Ownership Information report.
Direct tax in the form of an income tax was introduced by Sir James Wilson in India in 1860 to overcome the difficulties created by the Indian Rebellion of 1857. [12] The organisational history of the Income-tax Department, however, starts in the year 1922, when the Income-tax Act [4], 1922 gave, for the first time, a specific nomenclature to various Income-tax authorities.
The streamlined filing compliance procedures (called the streamlined procedures for short when the context is clear) is a set of procedures offered by the Internal Revenue Service in the United States to help United States taxpayers (individual taxpayers or couples filing jointly only; institutions cannot avail of these procedures) get back in compliance on the fronts of paying taxes related ...
If this is your first time doing taxes, the process can seem a bit daunting. Whether you're a recent college graduate or you just took your first job, it's natural to be concerned about how to do ...
Qualified Small Business Stock (QSBS) is a tax incentive to drive the investment and founding of small businesses in the United States of America. [1] The QSBS regulations are under U.S. Code Section 1202 [2] of the Internal Revenue Code (IRC). QSBS is a tax exemption on a federal, and in some cases, a state level. [3]
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