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Introduction: For every taxpayer, submitting income tax returns (ITR) is a fundamental responsibility. It makes sure the law is followed and enables people and companies to make their fair contribution to the country's progress. Even though the procedure could appear frightening, you can confidently navigate the world of ITR filing if you have the correct knowledge and advice. We will lead you through the fundamentals of ITR filing in this thorough guide, arming you with the information and resources you need for a straightforward and fruitful tax season. Recognise the Value of ITR Filing: ITR filing comes with a host of advantages in addition to being required by law. The first benefit is that you can correctly and honestly record your revenue, proving your financial honesty. Additionally, submitting your ITR is necessary in order to be eligible for loans, visas, and other financial services. Furthermore, timely filing might protect you from tax 1. authorities' fines and interest costs.

The Indian economy waves Goodbye to the 2000 Rupee Banknote as it Exists in Circulation, and The Transition Begins. Let us know about the life of 2000-denomination banknotes in the Indian economy. As we all know, the 2000 rupee denomination banknotes were introduced in November 2016 after the withdrawal of the legal tender status of the Rupees 500 and Rupees 1000 banknotes in circulation at that time, commonly known as demonetization, which shocked many people as the main agenda was to eliminate black money and the records of people possessing much higher amounts of cash from unknown sources or unexplained incomes and corruption. However, the Indian government recently made the decision to discontinue 2000-rupee banknotes, which caused many to speculate about their abrupt end. The 2000 rupee note, which features the iconic Mangalyaan on the reverse, symbolises India's advancement in space technology and digitalization. As its aspiration for a prosperous Indian economy in the future. The decision to withdraw the 2000-rupee banknotes stemmed from several factors. The 2000 rupee note carried a high denomination, which could facilitate large transactions and had a potential risk of misuse of high-value notes in illicit activities such as money laundering and funding illegal operations. Further, it was also noticed that since 2000, the rupee note has not been much used by the common people, as they face the issue of getting it changed by the shopkeepers.

All commercial entities that carry out taxable business by offering goods or services and billing exceed Rs.20 lakh, except in Northeast India and other countries. 10 Lakh insists on marking as a normal passive subject. Registration can be applied either as a regular assistant or in a GST organization.

Speaking at an Assocham event, Shashank Priya also said that in future, the tax authorities may also put certain restrictions on new taxpayers based on their risk profile. "How many invoices they can issue in a month, we may also put some restriction on that in the future. We feel very pained at the misuse of the system.We have to use all methods that are at our command to ensure that those are stopped," he said.

Proposed name of the company ( At least Two Names) 2. Pan Copy and Aadhar copy (full sheet) and ID Proof (DL/Voter ID) of each director 3. Bank Statement of each director for address Proof 4. Rental Agreement and Electricity Bill ( Latest One) for office address Proof 5. Two DSC 6. In case of own place of business NOC from the owner 7. Passport of each director 8. Objective and nature of business of the company 9. Nearest police station for the business premises 10. Proposed Bank for Current Account 11. Phone number and Mail id of each director 12. Company mail I'd and phone number