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Lokesh Prajapat

Latest Posts by Lokesh Prajapat

GST Amnesty: File GSTR-10 Final Return before 30/06/2023

May 16, 2023 5853 Views 0 comment Print

The GSTR-10 form is a return form filed under the Goods and Services Tax (GST) Act of 2017 in India. It is also known as the Final Return form. GSTR-10 is applicable to taxpayers who have canceled their GST registration or their registration has been deemed as canceled by the tax authorities.

E-Verify Income Tax Return By Net Banking

May 13, 2023 14118 Views 1 comment Print

Learn how to E-Verify your Income Tax Return using various banks’ Net Banking services. Follow the step-by-step guide for Canara Bank, HDFC Bank, SBI Bank, Axis Bank, IndusInd Bank, IDFC First Bank, and AU Small Finance Bank. Ensure a hassle-free verification process and stay tax compliant.

CBIC Fake GST Drive Guidelines May 2023 & Pro’s & Con’s of Registered Office

May 13, 2023 39297 Views 0 comment Print

Explore the basic requirements for a registered office under the CGST Act 2017. Learn the consequences if a business is not operated at the registered office. Discover how to identify and prevent ‘fake GST registrations’ to curb revenue loss and unfair competition.

Salaried Tax Declaration – Provisional or Final

April 27, 2023 8022 Views 0 comment Print

A salaried tax declaration is a document that an employee provides to their employer at the beginning of a financial year. It includes details about the employee’s income and investments, which the employer uses to calculate the employee’s tax liability and deduct the appropriate amount of tax from their salary each month.

New Tax Regime Pro’s & Con’s W.E.F 01/04/2023 Onwards

April 20, 2023 4290 Views 2 comments Print

The Old Tax Regime and New Tax Regime refer to two different sets of tax rules that individuals in India can choose from to calculate their income tax liability under the Income Tax Act, 1961.

Cost Inflation Index fy 2023-24: Basic Understanding & Usefulness

April 11, 2023 8892 Views 1 comment Print

Cost Inflation Index (CII) is an index used in India to measure the rate of inflation in the economy. It is used to adjust the purchase price of an asset, such as property or gold, for inflation when calculating capital gains tax.

Salary TDS U/S 192 Changes/Clarification W.E.F. 05/04/2023

April 6, 2023 67071 Views 0 comment Print

Section 192 of the Income Tax Act, 1961 is applicable to all employers who are responsible for deducting tax at source from the salaries of their employees. This section applies to all types of employees, including full-time, part-time, and contractual employees, as long as they are earning a salary.

Maharashtra-Profession Tax Returns & Payment Due Dates W.E.F. 01/04/2023 Onwards

April 5, 2023 112608 Views 0 comment Print

Stay compliant with Maharashtras Profession Tax Rules effective from 01/04/2023 onwards. Learn about the analysis of Rule 11, including returns, payments, and due dates. Explore the details of Form III, Form IIIB, and MTR-6 for electronic returns and payments. Whether your tax liability is under or over Rs. 1,00,000, understand the annual and monthly return requirements. Simplify your Maharashtra Profession Tax compliance with Prakasha & Co.’s comprehensive guide.

Section 194N-TDS on Cash Withdrawal W.E.F. 01/04/2023

April 3, 2023 203529 Views 7 comments Print

Understand Section 194N of the Income Tax Act 1961, effective from 01/04/2023, governing TDS on cash withdrawals exceeding Rs. 3 crore by co-operative societies. Explore changes, rates, and Budget 2023 updates, including new sections impacting TDS on online gaming income, mutual funds, PF withdrawal, interest from listed debentures, transfer of virtual digital assets, and sale of immovable property. Stay informed on the latest tax deduction provisions for FY 2023-24 (AY 2024-25). 

Audit Trail Applicability W.E.F. 01/04/2023

April 2, 2023 64026 Views 0 comment Print

An audit trail is a record of all the events or activities that have occurred within a computer system or application. It is a chronological sequence of events that provides a way to trace the history of a particular transaction, operation or event.

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