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The Central Board of Indirect Taxes and Customs (CBIC) enabled the option to file GSTR-9 and GSTR-9C for the financial year 2018-19. GSTR-9 is an annual return to be filed yearly by taxpayers registered under GST. It consists of details regarding the outward and inward supplies made/received during the relevant previous year under different tax […]
Article explains How to Voluntarily Obtain Status of Dormant Company-Steps, Company Which can be declared Dormant By Registrar, Steps to apply for ACTIVE COMPANY Status by Dormant Company, Documents required for obtaining status of Dormant Company, Compliances to be done by a Company after Obtaining Status of Dormant Company and Companies eligible to apply for […]
Explanation of Notification No. 01/2020 Dt. 21.02.2020 of Central Tax (Rate). Such Notification is Deal with GST Rate on Supply of Lottery. Lottery Tickets:- ‘Lottery Tickets ‘ is an actionable ticket and is graded under GST as ‘ Goods. ‘ According to Schedule III, however, Actionable Payment does not include any delivery of goods or […]
Understand the penalty provisions of section 272AA of the Income Tax Act and its connection with section 133B. Learn about the consequences of non-compliance.
DIRECT TAX PROPOSALS ♦ New Tax Slabs for Individuals and HUF (Section 115BAC) Finance Bill proposes to give an option to Individuals and HUF to compute the tax liable on income earned at the rate and as per the procedure mentioned below: Income Slab Existing Rate New Tax Rate 0-2,50,000 0% 0% 2,50,000-5,00,000 5% (Rebate […]
An easy way to compare our tax benefit under existing & new tax scheme based on your keen to investment An easy way to compare our tax benefit under existing & new tax scheme based on your keen to investment The Finance Minister placed the Finance Bill 2020 in the Lok Sabha with proposal of […]
Article explains who can be Beneficiary of Vivad Se Vishwas Scheme, Vivad Se Vishwas Scheme Mechanism, Quantum Of Amount Payable Under Vivad Se Vishwas Scheme:–A) If The Declarant Is Assessee/ Taxpayer And Appeal Was Also Filed By Assessee or B) If The Declarant Is Department And The Department Has Filed Appeal And Lost On An […]
Article explains How to appoint a director in producer company, grounds a director shall vacate the office of directorship in company, provisions of board meeting of producer company, important officers required to be appointed in producer company, Applicability of annual general meeting to Producer Company, Matters to be discussed and approved in Annual general meeting, […]
In other words, if the PAN is not linked with Aadhaar before 31st August, 2017, then the PAN shall be deactivated and subsequently returns will not be processed, which means if the same is not linked within the stipulated time then the filed return shall be treated as if the return has not been filed.
House Rent Allowance (HRA) is a common component of the salary structure. Although HRA is a part of the salary, unlike basic salary, is not entirely taxable. Subject to certain conditions, a part of HRA gets exempted under Section 10 (13A) of the Income-tax Act. The tax benefit on HRA is available only to a salaried individual who has the HRA component as part o
