This Income Tax calculator is a very useful tool to calculate tax by using excel only. It contains the rate of Income tax for last 25 financial year (i.e Financial year 1997-98 to 2021-22) and income tax calculator for last 16 years (i.e Financial year 2006-07 to 2021-22) for Individuals (i.e including the rates proposed […]
CPC Handbook For Tax Consultants/Taxpayers – November 2020 Centralized Processing Center, Bangalore has prepared a handbook in order to provide guidance to taxpayers and taxpayers’ representatives regarding e-filing of returns, processing of returns, issue of refunds, validation of bank accounts, filing of rectification applications and various other connected topics. The answers to the Frequency Asked […]
The impact of Information Technology (IT) on several aspects of accounting profession and practice has been pronounced over the last two decades. The revolutionary developments of various IT tools and techniques have a far reaching impact on the organizations. In today’s business world, accounting professionals have to interact with computer-based Information systems on a regular […]
Benami Transactions One should not enter into any benami transaction as its consequences are severe and unescapable. Please find attached herewith insights on the Prohibition of Benami Property Transactions Act, 1988. Benami property means any property which is the subject matter of a benami transaction and also includes the proceeds from such property. Benami transactions are prohibited. Benami Property is […]
TCS calculator under section 206C(1H) of Income Tax Act, 1961 – TCS on Receipt on sale of Goods for the period 1st October 2020 to 31st March 2021 Please find herewith Excel Utility developed by our office for calculation of TCS U/s 206C(1H) of the Income Tax Act which may be useful to you. In […]
The Central Board of Direct Taxes (CBDT) vide Circular No. 8/2020 dated April 13,2020 has clarified that an employer will have to deduct TDS for FY 2020-21, from an employee’s salary on the basis of the tax regime chosen by the employee else by default TDS would be deducted as per Old Tax Regime Rates. The Union […]
Draft Format of Form 3CEB for AY 2020-21 amended vide Notification No. 82/2020 dated 1st October, 2020 in Excel /Word Format As Form No. 3CEB (Transfer Pricing Audit Report) has been amended recently vide Notification No. 82/2020 dated 1st October, 2020. However, the utility is yet to be updated. So, sharing the updated draft of […]
It is an upgraded version of previous tool, this tool will convert GSTR1 and GSTR-3B files into Excel on a Monthly Basis. Format is the same as provided by the GST department, but I write it in Vertically, so that you can do the following. #Monthly Comparison of your GST Returns #Help in GST Reconciliation […]
Rule 36(4) Template For September 2020 GSTR-3B will calculate the final Input Tax Credit (ITC) to be claimed in September 2020 Form GSTR-3B by just filling in relevant figures.
Form No. 3D for Assessment Year 2020-21 i.e. Financial Year 2019-20 is amended by CBDT vide Notification No. 82/2020-Income Tax/G.S.R. 610(E) dated 01st October 2020. We have compiled the same based on changes made on 01.10.2020 and reproduced the same below- ”FORM NO. 3CD” [See rule 6G(2)] Statement of particulars required to be furnished under […]
