ON 1st February 2023, Finance Minister of India presented Union budget 2023 . The Finance bill is the part of union budget which includes various tax proposal for next FY i.e. 1st April 2023 to 31st March 2024. The Finance bill is a weapon under Fiscal policy to control economic conditions in the country. For …
In Budget 2023, some amendments are proposed for the new tax regime which was introduced in budget 2020 as an optional reduced slab rate u/s 115BAC. The option of the reduced slab rate was available only to Individuals & HUF. But to opt for this option of reduced slab rate, assesses have to forgo some …
What to Choose: Old Slab Rate OR New Tax Regime as updated by Finance Budget 2023 Read More »
Financial year 2022-23 is reaching its end in a few weeks. 31st March is an important deadline with reference to Financial Planning and Tax Planning, missing it may result in higher tax liability. We are required to complete our tax planning before 31st march 2023, as we are required to file Income tax return for …
Gold is the most secure investment in times of crisis due to its features like global acceptance, liquidity, prestige, demand, etc. In India, people prefer to buy and accumulate gold for marriages, worship, investment, customs, etc. The middle-income group also buys a small quantity of Gold during Festival Season and holds it for any critical …
Profit is the ultimate motive of the person involved in any business. The share market is seen as an ocean of opportunities to make money based on tip, risk, emotion & luck. As said in the famous dialogue of SCAM 1992 ” शेयर मार्टेक इतना गहरा कुंआ है, जो पूरे देश की पैसे की प्यास …
What are the basic requirements for starting with the share market? An Investor is a person, who is having some idle money that is intended to be invested to get his expected return/profit over a period of time. Hence An investor always keeps searching for beneficial investment proposals so that he can multiply his idle …
In the share market, most crucial question is, which stock to buy? Different types of retail investors, try to find the answer to this question in different ways:- Some people choose random stocks. Some people choose the script based on random tips, SMS, friend’s call etc. Some people decide on the stock based on their …
In Fundamental Analysis, we need to check the accounts of the company to analyse its financial health. In fact, Fundamental analysis of the company is not limited to the balance sheet of a company, but it is wider enough to cover: – Industry-specific analysis. Company Specific analysis. Competitor Specific analysis. Basic Terms used in Fundamental …
In the fundamental Analysis of stock, we need to check the financial health of the company for determining the intrinsic value of a share. If the market price of a share is below its intrinsic value, then it is an opportunity to buy otherwise check the next script. The fundamental analysis focuses on the business …
Quizzes help us to test our knowledge and memory. Hence taking quizzes is a very important tool to sharpen our memory and helpful for various competitive examinations like bank exams, SSC, PCS, CGL etc. No. of Questions: upto 20 Time limit: 300 Seconds
Quizzes help us to test our knowledge and memory. Hence taking quizzes is a very important tool to sharpen our memory and helpful for various competitive examinations like bank exams, SSC, PCS, CGL etc. No. of Questions: upto 20 Time limit: 300 Seconds
Quizzes help us to test our knowledge and memory. Hence taking quizzes is a very important tool to sharpen our memory and helpful for various competitive examinations like bank exams, SSC, PCS, CGL etc. No. of Questions: upto 20 Time limit: 300 Seconds [HDquiz quiz = “407”
Quizzes help us to test our knowledge and memory. Hence taking quizzes is a very important tool to sharpen our memory and helpful for various competitive examinations like bank exams, SSC, PCS, CGL etc. No. of Questions: upto 20 Time limit: 300 Seconds
Quizzes help us to test our knowledge and memory. Hence taking quizzes is a very important tool to sharpen our memory and helpful for various competitive examinations like bank exams, SSC, PCS, CGL etc. No. of Questions: upto 20 Time limit: 300 Seconds
Quizzes help us to test our knowledge and memory. Hence taking quizzes is a very important tool to sharpen our memory and helpful for various competitive examinations like bank exams, SSC, PCS, CGL etc. No. of Questions: upto 20 Time limit: 300 Seconds
Quizzes help us to test our knowledge and memory. Hence taking quizzes is a very important tool to sharpen our memory and helpful for various competitive examinations like bank exams, SSC, PCS, CGL etc. No. of Questions: upto 20 Time limit: 300 Seconds
Quizzes help us to test our knowledge and memory. Hence taking quizzes is a very important tool to sharpen our memory and helpful for various competitive examinations like bank exams, SSC, PCS, CGL etc. No. of Questions: upto 20 Time limit: 300 Seconds
Quizzes help us to test our knowledge and memory. Hence taking quizzes is a very important tool to sharpen our memory and helpful for various competitive examinations like bank exams, SSC, PCS, CGL etc. No. of Questions: upto 20 Time limit: 300 Seconds
Nutrients are such a chemical formation contained in a food that is essential for our body to survive, grow and reproduce. There are different types of nutrients such as Protein, Carbohydrates, Fiber, Vitamins, and minerals etc. Different Foods have different types of nutrients in different quantities. The nutrient chart given below gives a basic idea …
List of some important Nutrients, daily requirement, Functions, and their sources Read More »
As we know we are the second largest populated country in the world but in a country of more than 138 crore people, only approximately 1.2 crore people (as per data from NSE) actively invest in the share market. When the prevailing interest rate in the market falls, more people tend to see towards the …
What is the Impact of change in the interest rate on equity investment/share market? Read More »
(A) Income tax Rates for Individual & HUF (who opted for new tax regime u/s 115BAC) As we know that W.e.f FY 2020-21 i.e. budget 2020, two options of slab rate are available for Individual & HUF as per option given u/s 115BAC. Every taxpayer who is Individual or HUF, have to choose between (i)New …
Rates of Income tax for FY 2022-23 (assessment year 2023-24) Read More »
Generally when any person (Individual, HUF, AOP, BOI, AJP, Firm, Company or trust etc.) earn any income, then some part of that income is required to paid to Government in the form of Income Tax as per prevailing provisions of law of the country. But some incomes are exempted by law and tax is not …
Do you know what is the due date for payment of Income tax for a financial year. ? With the increased list of transactions under the umbrella of TDS and TCS year by year, major part of your income tax is deducted and deposited in the form of TDS/TCS. The balance tax liability is paid …
Due Dates of Income tax as applicable for FY 2022-23 (AY 2022-23) (A) Due date for filing Income tax Return Category Sub-Category Original Due date Extended due date (if any) Individual & HUF whose accounts are required to be audited u/s 44AB (ITR-3) 31-10-2023 (Audit report is to be filed upto 30-09-2023) A working …
Budget 2022 was presented on1st February 2022 with historic least number of changes in Income tax. A complete list of TCS (tax collected at source) rate along with related transactions and budget proposals for financial year 2022-23 (AY-2023-24) is provided in the table given below.- TCS Rate Chart for FY 2022-23 (AY 2023-24) Section Nature …
Rates of TCS for FY 2022-23 (1st April 2022 to 31st march 2023) Read More »
Budget 2022 was presented on1st February 2022 with historic least number of changes in Income tax. A complete list of TDS rate along with related transactions and budget proposals for financial year 2022-23 (AY-2023-24) is provided in the table given below.- TDS Rate Chart for FY 2022-23 (AY 2023-24) Payment Type Threshold Limit (Rs) Resident …
Rates of TDS (tax deducted at source) for FY 2022-23 (1st April 2022 to 31st March-2023) Read More »
(A) Income tax Rates for Individual & HUF (who opted for new tax regime u/s 115BAC) As we know that W.e.f FY 2020-21 i.e. budget 2020, two options of slab rate are available for Individual & HUF as per option given u/s 115BAC. Every taxpayer who is Individual or HUF, have to choose between (i)New …
Rates of Income Tax for FY 2021-22 (Assessment year 2022-23) Read More »
Today, i.e. 1st February 2022, Finance Minister of India presented Union budget 2022 . The Finance bill is the part of union budget which includes various tax proposal for next FY i.e. 1st April 2022 to 31st March 2023. The Finance bill is a weapon under Fiscal policy to control economic conditions in the country. …
Important Highlights of Tax Proposals in Union Budget 2022 (FY 2022-23) Read More »
Financial year 2021-22 is reaching its end in a few weeks. 31st March is an important deadline with reference to Financial Planning and Tax Planning, missing it may result in higher tax liability. We are required to complete our tax planning before 31st march 2022, as we are required to file Income tax return for …
Applicability of 194Q A new section 194Q was inserted by Finance Act 2021 for deducting tax at source. This section is applicable w.e.f 1st July 2021. It applies to any buyer (Buyer is defined to be person whose total sales or gross receipts or turnover from the business carried on by him exceed ten crore …
Financial System A “Financial System” is a set of interrelated activities working together to achieve some pre-determined goal. It includes- Markets Financial institutions Financial Instruments Financial services and The Mechanism that influences the generation of savings for investment, capital formation and growth. An efficient financial system plays a key role for an economy to operate …
Financial System and its stages, components, and Functions. Read More »
Normal TCS rate for financial year 2020-21 were changed w.e.f 14th may 2020 by reducing normal rates by 25%. But this reduction of tcs rates was applicable only upto 31.3.2021 and normal Rates are restored w.e.f 1.4.2021. A complete list of TCS rate along with related transactions for financial year 2021-22 (AY-2022-23) is provided in …
Rates of TCS for FY 2021-22 i.e. 1st April 2021 to 31st March 2022 (AY 2022-23) Read More »
Financial year 2020-21 is reaching to its ends in few days. 31st March is an important deadline with reference to tax Planning, missing it may result in higher tax liability. We are required to complete our tax planning before 31st march 2021, as we are required to file Income tax return for FY 2020-21 during …
Reduced TDS rate which were changed w.e.f 14th may 2020 by reducing normal TDS rates by 25%, were applicable only upto 31-03-2021. Hence this reduction in TDS rates in not applicable for FY 2021-22. A complete list of TDS rate along with related transactions and budget proposals for financial year 2021-22 (AY-2022-23) is provided in …
Rates of TDS for FY 2021-22 (1st April 2021 to 31st March 2022) Read More »
Due Dates of Income tax as applicable for FY 2021-22 (AY 2022-23) (A) Due date for filing Income tax Return Category Sub-Category Original Due date Extended due date (if any) Individual & HUF whose accounts are required to be audited u/s 44AB (ITR-3) 31-10-2022 (Audit report is to be filed upto 30-09-2022) A working …
Income tax due dates for FY 2021-22 (AY 2022-23) Read More »
GST Returns and their Due dates Due date for filing of GST return and Default due date for payment of GST Please refer the table given below, wherein default due date for filing of GST returns is specified along with default due date for payment of GST for each category of taxpayer. Please be informed …
List of GST Returns and their Due date of Filing Read More »
There is many terms like Balance of payment, Balance of Trade, Current A/c Deficit, Capital account deficit, trade deficit, forex reserve which appears to be confusing to many students. Read the complete article to develop such understanding about these terms that you will never forget. Please refer following basic points before going ahead in learning …
Quizzes help us to test our knowledge and memory. Hence taking quizzes is a very important tool to sharpen our memory and helpful for various competitive examinations like bank exams, SSC, PCS, CGL etc. No. of Questions: upto 20 Time limit: 300 Seconds
The Finance Minister, Nirmala Sitharaman presented her third Union budget 2021 in Parliament today i.e. 01-02-2021. Following are important proposals made therein:- Direct tax proposals:- 1. Major Direct Tax Proposals made in budget 2021-22 is given below:- NO change is proposed in direct tax rates / slab rates of income tax, following 32 changes are …
Important Highlights of Tax Proposals in Finance Budget 2021-22 Read More »
Every person wants to make the best decision but every person may have a different risk attitude and our risk attitude play a major role in our decision making. On the basis of risk attitude, people can be divided into the following three categories:- Risk-Averse person:- A person who does not like to take the …
Investment is a good habit to make our future more independent. Keeping some part of our money to get more money in the future is called investment. In today’s economy, there are various investment options available to us like:- Saving bank account Fixed Deposit in Bank Recurring Deposit in bank Fixed Deposit of Corporate Government …
Taxability of Mutual Fund: Is your mutual fund taxable or exempt? Read More »
Normal TCS rate for financial year 2020-21 were changed w.e.f 14th may 2020 by reducing normal rates by 25%. But this reduction of tcs rates was not applicable to all type of transactions and some transactions like sale of liquor shall continue to attract normal rate of TCS. Further some new transactions were also brought …
Normal TDS rate for financial year 2020-21 were changed w.e.f 14th may 2020 by reducing normal TDS rates by 25%. But this reduction of TDS rates was not applicable to all type of transactions and some transactions like salary, PF payments shall continue to attract normal rate of TDS. Further w.e.f 1-4-2020, some new transactions …
(A) Income tax Rates for Individual & HUF, AOP, BOI & AJP New Income tax slab rate for individual & HUF are introduced w.e.f FY 2020-21 but this new slab is optional for taxpayer, taxpayer may choose to pay tax at old slab rate. If tax payer want to opt for this new slab rate …
Rates of Income tax for FY 2020-21 (Assessment year 2021-22) Read More »
Due Dates of Income tax as applicable for FY 2020-21 (AY 2021-22) (A) Due date for filing Income tax Return Category Sub-Category Original Due date Extended due date Individual & HUF whose accounts are required to be audited u/s 44AB (ITR-3) 31-10-2021 (Audit report is to be filed upto 30-09-2021) 15-03-2022 (Audit report is to …
Income tax due dates for FY 2020-21 (AY 2021-22) Read More »
GST important Due dates for Financial year 2020-21 (A) Default Due date for filing of GST return and Default due date for payment of GST (From 01-04-2020 to 31-03-2021) Please refer the table given below, wherein default due date for filing of GST returns is specified along with default due date for payment of GST …
GST important Due dates for Financial year 2020-21 Read More »
Quizzes help us to test our knowledge and memory. Hence taking quizzes is a very important tool to sharpen our memory and helpful for various competitive examinations like bank exams, SSC, PCS, CGL etc. No. of Questions: upto 20 Time limit: 300 Seconds
Quizzes help us to test our knowledge and memory. Hence taking quizzes is a very important tool to sharpen our memory and helpful for various competitive examinations like bank exams, SSC, PCS, CGL etc. No. of Questions: upto 20 Time limit: 300 Seconds
Quizzes help us to test our knowledge and memory. Hence taking quizzes is a very important tool to sharpen our memory and helpful for various competitive examinations like bank exams, SSC, PCS, CGL etc. No. of Questions: upto 20 Time limit: 300 Seconds
Insights of Indian Economy before hit by COVID-19 Parameters Value Remarks Area 3,287,263 sq km Area of india within 15200 km of land frontier and 7516 km of coastline. Population-2018 135.26 Crores (BPL-21.9%, approx 29 crores) India’s population is approx 138 crore in June 2020 which is approx 17.7% of total world population. Median age in …
Insights of Indian Economy before hit by COVID-19 Read More »
Last date for filing ITR for FY 2019-20 extended to 10th January 2021 As per official notification dated 30th December 2020, Last date for filing ITR for FY 2019-20 (AY 2020-21) has been extended to 10th January, 2021 from 31st December 2020 and for audit cases last date is extended to 15th February 2021 from …
Last date for filing ITR for FY 2019-20 extended to 31st December 2020 Read More »
31st March 2020 was last date to file your Income tax return for FY 2018-19 which is now extended to 30th November 2020 If you have not filed your income tax return for financial year 2018-19 or you want to revise your income tax return for 2018-19(only if assessment is not yet completed) then it …
Last date to file ITR for FY 2018-19 extended to 30th November 2020. Read More »
25th August is Last date to apply for November 2020 Examination of ICAI (Institute of Chartered Accountants of India) As we already know that due to corona pandemic, the Institute has already decided to cancel May 2020 Examinations and merge the May 2020 attempt with November 2020 Examinations. Following are important to note w.r.t November 2020 …
How a Package of Rs. 20 Lakh Crores going to make India – Atmanirbhar Bharat: First Phase-13th may 2020 We all know that Indian Independence day is celebrated on 15th August. We secured our independence on 15th August 1947 or we can say we were declared independent on 15th August 1947 when UK parliament passed …
Coronavirus (COVID-19): How much harmful is corona for world economy? What should we do? What should investors do in this era of viruses i.e. Coronavirus.? There are many questions come to everyone’s mind regarding Coronavirus (Covid-19). Share market is facing one of the biggest fall due to corona virus. Hence investors are in panic. Everyone’s …
39th Meeting of GST council held in New Delhi today. Some of highlights are given below:-. It was decided to raise the GST rate on mobile phones and specific parts to 18% form 12%. A completely enhanced capacity with better system of GSTN will be made available by July 2020, instead of Jan 2021. It …
GST important Due dates for Financial year 2019-20 (A) Default Due date for filing of GST return and Default due date for payment of GST (From 01-04-2019 to 31-03-2020) Please refer the table given below, wherein default due date for filing of GST returns is specified along with default due date for payment of GST …
GST important Due dates for Financial year 2019-20 Read More »
Important Highlights & Tax Proposals of Finance Budget 2020-21 The Finance Minister, Nirmala Sitharaman presented his second Union budget 2020 in Parliament today i.e. 01-02-2020. Following are important proposals made therein:- Direct Taxes Proposals Income tax slab rate for individual & HUF are proposed to be changed for FY 2020-21 but this new slab is …
Important Highlights & Tax Proposals of Finance Budget 2020-21 Read More »
Have you done financial planning for 2019-20 before the deadline 31st March 2020/30th July 2020/30th September 2020 – Check out what you missed and what are relief measures provided by FM in view of Covid19 (Coronavirus) Outbreak? Financial year 2019-20 is reaching to its ends in few weeks. 31st March is an important deadline with …
Current position of Indian Economy w.r.t. Economic Survey of India for FY 2019-20 (presented in Parliament on 31-01-2020) Economic Survey 2019- 20 was presented in the Parliament by Finance Minister Nirmala Sitharaman on January 31, 2020. The theme of Economic Survey 2020 is- “Enable markets, promote ‘pro-business’ policies and strengthen ‘trust‘ in the economy”. The …
Rates of Income tax for Financial year 2019-20 i.e. Assessment year 2020-21 (A) Income tax Rates for Individual, HUF, AOP & BOIs Income tax rates for resident senior citizen who is 60 years or more at any time during the previous year but less than 80 year on the last day of the previous year …
Rates of Income tax for FY 2019-20 (Assessment year 2020-21) Read More »
Due Dates of Income tax as applicable for FY 2019-20 (AY 2020-21) (A) Due date for filing Income tax Return Category Sub-Category Due date Individual & HUF whose accounts are required to be audited u/s 44AB (ITR-3) 30th September 2020 (extended to 31st Jan. 2021) A working partner where the firm in which he …
Income tax due dates for FY 2019-20 (AY 2020-21) Read More »
TDS is introduced in GST w.e.f. 01.10.2018: All about TDS in GST Law GST Law mandates Tax Deduction at Source (TDS) vide Section 51 of the CGST/SGST Act 2017, Section 20 of the IGST Act, 2017 and Section 21 of the UTGST Act, 2017. GST Council in its 28th meeting held on 21.07.2018 recommended the …
TDS is introduced in GST w.e.f. 01.10.2018: All about TDS in GST Law Read More »
CBDT further extends due dt for filing of IT Returns & audit reports from 15th Oct,2018 to 31st Oct, 2018 for all assessees liable to file ITRs for AY 2018-19 by 30.09.2018, after considering representations from stakeholders. Liability to pay interest u/s234A of IT Act will remain same. Click here for notification.
In view of disruption caused due to severe flood in Kerala, CBDT extended due date for ITR from 31st August 2018 to 15th September 2018 in case of Income tax assessees in state of Kerala who were liable to file their Income tax return by 31st August 2018. Click here to download order
All about Reverse charge Mechanism In GST. What is Reverse Charge Normally Supplier of goods or services is liable to pay tax to Government. Supplier collect tax amount from receiver along with value of goods or services and deposit it to the government. But in case of reverse charge, changeability gets reversed and Receiver of …
All About Reverse Charge Mechanism of Goods & Services in GST. Read More »
CBDT has released parameters for manual selection of Income Tax Returns for Complete Income Tax Scrutiny during financial year 2018-19 vide Instruction No. 04/2018 Dated: 20th August 2018. Niti Aayog has suggested the government to bring down import duty on gold from the existing level of 10 per cent and also slash the GST rate …
Updates relating to GST return, Income Tax and SEBI. Read More »
As per GST Portal, Last date of filing GSTR-3B for the month of July, 2018 has been extended to 24th Aug, 2018. Official Order is expected in sometime. For visiting the GST portal please click the following link https://www.gst.gov.in/
On 17th August 2018, CBDT issued order under section 119 of Income Tax Act 1961 that reporting under clause 30C & 44 (i.e. GST and GAAR Reporting under Amended Tax audit report) of the tax audit report shall be kept in abeyance till 31st March 2019. Therefore Tax audit reports to be furnished on or …
Clause 30C & 44 of Tax Audit report is kept in abeyance till 31st march 2019 Read More »
In a new record, Income Tax worth Rs 10.03 lakh crore was collected during 2017-18, the Central Board of Direct Taxes (CBDT) said on Friday (17 August), reports Press Trust of India. A record has also been set when it comes to the number of Income Tax filings. During a two-day conference of Income Tax …
In A New Record, Rs 10.03 Lakh Crore Collected As Income Tax In 2017-18 Read More »
Due dates for filing GSTR 1 for all months from July 2018 till March 2019 has been extended to 11th of the next month. Download notification
Statutory and Tax Compliance Calendar for August 2018 S.No Particulars of Compliance Forms/returns Due Date Compliances Calendar for GST 1. Return of outward supplies of taxable goods and/or services for the Month of July 2018 (for Assessees having turnover exceeding 1.5 Cr.) GSTR -1 10-08-2018 2. Return by Non-Resident Foreign Taxpayers for the month of July …
Summary of GST meeting 4th August 2018: 1. GOM for MSME Issues: a. GST Council constitutes a Group of Ministers (GoM) to look into issues of MSME’s. b. Finance Minister’s of Assam, Delhi, Punjab & Kerala will be part of this GoM. c. Finance Minister of State – Shri Shiv Pratap Shukla ji will be …
Key points of 29th Meeting of GST Council held on 4th August 2018 Read More »
The GST Council in its 28th GST Council Meeting held on July 21, 2018 under the Chairmanship of Shri Piyush Goyal, Union Minister for Railways, Coal, Finance & Corporate Affairs has approved the new return formats. The Council had earlier approved the basic principles of GST return design and directed the law committee to finalize the …
Key Features of Draft GST simplified returns formats issued by CBIC on 30th July 2018. Read More »
Tax Audit under section 44AB was introduced by Finance Act 1984, w.e.f. 1st April 1985 (A. Y. 1985-86). The main objective of the tax audit was to ensure that Books of accounts and other relevant records are properly maintained by the assessee and to compute the taxable income according to the law and to maintain …
An Overview of Tax Audit U/s 44AB of Income tax Act. Read More »
Most of Salaried Employees are involved in derivative trading (trading in future and options or F&O on stocks, currencies, and commodities) But due to little knowledge about how these trades are taxed, those who have losses from futures & options skip reporting it in their income tax return, which is not right. If you are …
Rates of Income tax for Financial year 2018-19 i.e. Assessment year 2019-20 (A) Income tax Rates for Individual, HUF, AOP & BOIs Income tax rates for resident senior citizen who is 60 years or more at any time during the previous year but less than 80 year on the last day of the previous year …
Rates of Income tax for FY 2018-19 (Assessment year 2019-20) Read More »
The finance ministry in a tweet has announced the extension of income tax return filing deadline by a month to August 31. The tweet says “Upon consideration of the matter, the Central Board of Direct Taxes (CBDT) extends the ‘Due Date’ for filing of Income Tax Returns from 31st July, 2018 to 31st August, 2018 …
Deadline for filing Income tax return extended till August 31, 2018 Read More »
28st GST Council meeting held on 21st July 2018 and we are presenting here the key decisions taken in this meeting . Some of the decisions will be given effect by way of issuing Notifications and few are to be placed in Parliament to amend the GST Laws. Key Decisions:- Return Simplification. Quarterly returns for …
Updates of 28th GST Council meeting held on 21st July 2018 Read More »
28th GST Council meet on Saturday i.e. 21st July 2018: Return simplification, law tweaks, setting up of tribunal on table The proposed amendments to the goods and services tax (GST)-related laws, simplification of GST returns, the creation of GST appellate tribunal and the revenue position of states will be among the key items slated for …
Due Dates of Income tax as applicable for FY 2018-19 (AY 2019-20) (A) Due date for filing Income tax Return Category Sub-Category Due date Individual & HUF whose accounts are required to be audited u/s 44AB (ITR-3) 30th September 2019 A working partner where the firm in which he is a working partner has to …
Income tax due dates for FY 2018-19 (AY 2019-20) Read More »
Due Dates of Income tax as applicable for FY 2017-18 (AY 2018-19) (A) Due date for filing Income tax Return Category Sub-Category Due date Individual & HUF whose accounts are required to be audited u/s 44AB (ITR-3) 30th September 2018 A working partner where the firm in which he is a working partner has to …
Income tax due dates for FY 2017-18 (AY 2018-19) Read More »
Rates of Income tax for Financial year 2016-17 i.e. Assessment year 2017-18 (A) Income tax Rates for Individual, HUF, AOP & BOIs Income tax rates for resident senior citizen who is 60 years or more at any time during the previous year but less than 80 year on the last day of the previous year …
Rates for Tax Collection at Source (TCS) (FY 2017-18 & AY 2018-19) Following given are the rates at which tax is to be collected at source during financial year 2017-18 (AY 2018-19). Section Receipts Type Basic Rate of TCS (excluding Surcharge, EC & SHEC) 206C Sale of Alcoholic liquor for human consumption 1% 206C Sale …
Rates for Tax Deducted at Source (TDS) (FY 2017-18 & AY 2018-19) Following given are the rates at which tax is to be deducted at source during financial year 2017-18 (AY 2018-19). Section Payment Type Basic Rate of TDS (excluding Surcharge, EC & SHEC) Condition(if any) 192 Salary At normal slab rate applicable If estimated …
Rates of Income tax for Financial year 2017-18 i.e. Assessment year 2018-19 (A) Income tax Rates for Individual, HUF, AOP & BOIs Income tax rates for resident senior citizen who is 60 years or more at any time during the previous year but less than 80 year on the last day of the previous year …
GST important Due dates for Financial year 2018-19 (A) Due date for payment of GST (From 01-04-2018 to 31-03-2019) Taxpayer Periodicity of GST Payment Due Date for payment of GST Taxpayers with Annual Turnover upto Rs. 1.5 Crore (filing GSTR-1 on quarterly basis) Monthly 20th of Next month after the month in which Time of …
GST important Due dates for Financial year 2018-19 Read More »
Due dates for the month of July 2018. GSTR-3B (Jun 2018)-Jul 20th, 2018 GSTR-5 (Jun 2018)-Jul 20th, 2018 GSTR-6 (Jul’17 – Jun’18)- Jul 31st, 2018 GSTR-4 (Apr-Jun, 2018)-Jul 18th, 2018 GSTR-5A (Jun 2018)-Jul 20th, 2018 Quarterly return for registered persons with aggregate turnover up to Rs. 1.50 Crores- GSTR-1 (Apr-Jun, 2018)-Jul 31st, 2018 Turnover exceeding …
(A) Due dates for Compliances under GST for the Month of June 2018 10-06-2018– Due date for filing GSTR -1 for the Month of May 2018 – Applicable for taxpayers with Annual Aggregate turnover More than 1.50/- Crore (Rs. One Crore Fifty Lacs only) 20-06-2018– GSTR-3B for the Month of May 2018 Pay due Tax till this …
Section 9 (4) of the Central Goods and Services Tax, 2017 (CGST Act in short) and Section 5(4) of Integrated Goods and Services Tax, 2017 (IGST Act in short) provides that tax in respect of the supply of taxable goods or services or both by a person, who is not registered, to a registered person …
Reverse Charge Mechanism further postponed till 30.09.2018 for Unregistered Person. Read More »
Financial year 2017-18 is reaching to its ends in few weeks. 31st March is an important deadline with reference to tax Planning, missing it may result in higher tax liability. We are required to complete our tax planning before 31st march 2018, as we are required to file Income tax return for FY 2017-18 during …
What is Job Work? Any treatment or process undertaken by a person on goods belonging to another registered person is called as Job Work. The registered person on whose goods job work is performed is called Principal and the person who treats or processes the goods sent by the principal is called Job Worker. For …
What is E-Way Bill? E-way bill is an electronic document generated online from E-way bill portal (https://ewaybillgst.gov.in/) which is required to be carried by the person-in-charge of conveyance for movement of goods from one place to another. E-way bill document contains 12 digit EWB number. Section 68 of the Central Goods and Services Tax Act, …
E-Way Bill: All about compliance requirement of E-Way Bill w.e.f 1st April 2018. Read More »
Important GST updates vide recent GST notifications dt. 28th March 2018: Due date for filing GSTR-6 for the period of July 2017 to April 2018 has been extended to 31st May 2018. Due date for filing trans-2 form has been extended to 30th June 2018. Due date for filing GSTR-1 for the quarter ending on …
Important GST updates vide recent GST notifications dt. 28th March 2018 Read More »
