Due dates for the Month of September 2018 7th Income Tax – TDS Payment for August 10th GST – Details of outward supplies of taxable goods and/or services effected – GST1 for August – Return for authorities deducting tax at [Read More]
Sep 052018
Aug 282018
Tax audit limit under income tax act Meaning of Tax Audit: 44AB. Every person,— Carrying on business shall, if his total sales, turnover or gross receipts, as the case may be, in business exceed or exceeds one crore rupees in any [Read More]
Aug 272018
Review of GST Input Tax Credit Claim Why there is need for review of ITC claim: Since the rules for claiming ITC are neo for everyone including tax consultants and hence it can be understood that there could be: Errors [Read More]
Aug 232018
Key features of New GST Quarterly Returns Quarterly filing and monthly payments: It is proposed to provide facility for filing of quarterly return to small taxpayers, who had a turnover upto Rs. 5 Cr. in the last financial year. Meaning [Read More]
Aug 202018
GST :Key features of Monthly Returns Introduction: GST Council in its 27th meeting held on 4th May, 2018 had approved the basic principles of GST return design. Now in its 28th meeting held on 21st July, 2018, GST Council approved the key [Read More]
Aug 162018
Significance of business codes in ITR forms CBDT has changed nature of business codes for income tax return forms from A.Y. 18-19. Before filing of Income tax return, correct business sector along with correct business code has to be selected. [Read More]
Aug 122018
Place of supply for E way bills Inter-State movement or inter-State supply are two distinct terms to be recognized. By the fiction in section 7 of IGST Act, several transactions are imputed to be inter-State supplies, as for example, mentioned [Read More]
Aug 112018
Effects of amendment in section 138 of negotiable instrument act Roadmap of amendment till date: Year Bill No Short Title Date of introduction Passed in LS Passed in Rs Referred to / Report presented by committee Notification no Synopsis 2017 [Read More]
Aug 102018
Recommendation of 28th Meeting of GST council As you are aware that GST council is a group of sate and central finance ministry recommending major amendments is GST laws and all amendments in GST laws are have to be in [Read More]
Aug 092018
Section 44AD on presumptive income: Section 44AD. (1) Notwithstanding anything to the contrary contained in sections 28 to 43C, in the case of an eligible assessee engaged in an eligible business, a sum equal to eight per cent of the total turnover or gross [Read More]