To ensure a smooth process and avoid penalties or last-minute rush during the Departmental Officers visit at premises, it is essential to have the following details readily available at your registered place of business:
However, things are changing, and w.e.f. the FY 23-24, a new Section 115BBJ has been introduced by the Finance Act 2023 to tax net winnings from any online games. A corresponding Section194BA has also been inserted w.e.f. 01-07-2023 for the deduction of tax from the net winnings from online games.
Now, in light of all this, the Government of Maharashtra came up with a cool scheme “Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975”. They want to unlock the money that’s tied up in those outstanding dues and reduce the number of old pending legal battles. So, they’ve introduced this beneficial settlement scheme for dues under 11 Acts “relevant acts” which include MVAT Act and CST Act.