Many GST compliance deadlines ended to 31st August, 2020. To avoid late fees and penalties, these due dates need to be remembered and file the returns. Let’s see which deadline ends on 31st of August, 2020. Deadlines that ends on 31st August 2020 1. GSTR-4 (2019-20): GSTR-4 is an annually form to be filed by […]
Article contains compliance due dates falling in August 2020 related to Quarterly & Monthly Filing of GSTR-1, Depositing of TDS/ TCS/ equalisation levy for July, 2020, Due Date for payment of Provident fund and ESI contribution for July 2020, Issue of Form 16 for TDS on salary of financial year 2019-20, Issue of Form 16A […]
Many taxpayers are not aware the provision of the income tax act on how to save the tax on the sale of residential property. They earn profits on the sale of residential property and pay the taxes. They can save the tax. I have brief the methods from which the taxpayers can save the tax. […]
From 1st August, 2020 some rules are getting change. The changes may affect our life. The new rule will be implemented after replacing old one. These changes include the rate of contribution in EPF, change in insurance, interest rate rules on bank accounts. EPF will be deducted @ 12% The Finance Minister announced that monthly […]
Due to the coronavirus pandemic, the government had extended the various due dates for giving relaxations to the taxpayers. In this context, government has been extended the due date for filing of income tax return for financial year 2018-19 (2019-20) to 30th September, 2020 via notification no. 56/2020 dated 29.07.2020. It should be noted that […]
House Rent Allowance (HRA) is generally considered as a part of salary component and is generally added in the salary structure to help the individual to save taxes. House rent allowance deduction is given under section 10(13A) of the Income Tax Act accordance with Rule 2A of the Income Tax Rules. If you stay in […]
A. PAN in Returns or Certificates or Correspondence Every person shall quote his permanent account number (PAN) in all his returns or challans or correspondence with any income-tax authority. Other than this, every person shall quote his PAN in all documents pertaining to the transactions specified in rule 114B and given in the table below: […]
The Consumer Protection Act, 2019 received the assent of the President of India and was published in the official gazette on 9 August 2019. New Consumer Protection Act will replace 34 year old act and come into effect from July 20, 2020.
On 18th of July, 2020, CBDT issued a press release on New Form 26AS. Now, Form 26AS will not only for TDS, TCS or other taxes paid but will also show high value transactions of taxpayers. What type of transactions to be reported in New Form 26AS. S. N. Nature and value of transactions 1 a) Purchasing […]
Discover effective strategies to save income tax for the financial year 2023-24. Explore income tax rates, deductions, and exemptions. Make informed decisions between the old and new tax regimes. Get answers to FAQs on salary income. Maximize your tax savings now!
