InterGlobe Aviation Finance Manager Interview Questions and Answers

Recent provisions in GST aim to simplify the tax structure and increase compliance.

• Introduction of e-invoicing and QR codes to reduce tax evasion

• Extension of due dates for filing returns to provide relief during COVID-19 pandemic

• Introduction of new return filing system to simplify the process

• Reduction in late fees for delayed filing of returns to encourage compliance

• Changes in input tax credit rules to prevent fraudule

Recent changes in income tax have been implemented by the government.

• The government has introduced a new tax slab system with reduced rates for certain income brackets.

• The tax exemption limit for individuals has been increased from Rs. 2.5 lakh to Rs. 5 lakh.

• The surcharge on income tax for individuals earning over Rs. 2 crore has been increased.

• The government has also introduced a new tax regime with lower tax rates bu...read more