As we all are aware that the due date of TDS return filing is coming closer for 4th Quarter i.e. 31st May, 2020 for FY 2019-20. Hence this article is kind of reminder for all taxpayers to be compliant towards filing of return within due date to avoid unnecessary interest and late fees. Today I […]
1. The CBIC vide Notification No. 16/2020- Central Tax dated March 23, 2020 has amended CGST Rules 43. This rule applies for ITC reversal in respect of capital goods if the said capital goods used for producing supplies partly for exempted/ non business purpose and partly for taxable / business purpose supplies. 2. Before we […]
As you may be aware that at the time of filing TDS statements, it is mandatory to quote the challan particulars through which TDS payments have been made. The TDS forms prescribe quoting of such challans and the underlying deductee transactions corresponding to such challans.
Rates of Gold and Silver for Wealth Tax valuation Purpose – Valuation of Jewellery- Jewelry Includes: Ornaments made of gold, silver, platinum or any other precious metal or any alloy containing one or more of such precious metals, whether or not containing any precious or semi-precious stones, and whether or not worked or sewn into any wearing apparel.
There is always a doubt and confusion in the industry among professionals as well as tax payers regarding availment of exemption under section 54 and 54F against capital gains. Whether investment is allowed to be made only in one residential property or more than one residential property can be allowed? Therefore, today I am covering […]
Arjuna: Krishna, now due dates of return filing is approaching, taxpayer will file Income Tax Return for the year ended 31st March 2014. The taxpayers and Tax Experts, Chartered Accountants, etc. are in planning and working mode and business community is getting busy. Further business community is waiting for Budget 2014.
Nowadays Form 15CA and 15CB are of a lot importance. We professional atleast have to issue one Form 15CB every day and form 15CA is also to be made by the professional on behalf of the client.
We all are aware that whenever we login into our Income Tax Account, at that time we get an auto pop up to update our contact details and if the contact details are already updated then we get the message of update address details. With general human tendency we usually read those message and just […]
Not filing a return on time does have financial implications, especially if you have a net income tax payable and / or if you have losses to be carried forward. This can really hurt especially if the losses to be carried forward are significant. Therefore, your best option is to ensure that you file the income tax return by the deadline.
As it is not possible to discuss all the perquisites in one article, let us discuss the taxability of a perquisite which is always in question – taxability of prepaid coupons say for example Sodexo coupons which are very famous. These days many employers are giving sodexo coupons to the employees. The value of the coupons varies from employer to employer.
