Provisions in finance bill 2018 as to provident fund (Part 1 of chapter VIII): AMENDMENTS TO THE GOVERNMENT SAVINGS BANKS ACT, 1873 Clause111. The provisions of this Part shall come into force on such date as the Central Government may, [Read More]
Due dates for the Month of April 2018 10th GST – Details of outward supplies of taxable goods and/or services effected – GST1 for March – Return for authorities deducting tax at source – GSTR 7 for March – Details [Read More]
Due dates for the Month of March 2018 7th Income Tax – TDS Payment for February 10th GST – Details of outward supplies of taxable goods and/or services effected – GST1 for February – Return for authorities deducting tax at [Read More]
Under the existing regime, long term capital gains arising from transfer of long term capital assets, being equity shares of a company or an unit of equity oriented fund or an unit of business trusts , is exempt from income-tax [Read More]
Amendments in budget 2018 Provision in summery Detailed provision Effective from Income tax slab rates No change No impact Rate of surcharge for Individual,HUF, AOP, BOI (i) at the rate of ten per cent. of such tax, where the income [Read More]
Standard deduction on Salary Income Section 16, inter-alia, provides for certain deduction in computing income chargeable under the head “Salaries”. it is proposed to allow a standard deduction upto Rs 40,000/- or the amount of salary received, whichever is less. [Read More]
Due dates for the Month of Feb 2018 7th Income Tax – TDS Payment for January 10th GST – Details of outward supplies of taxable goods and/or services effected – GST1 for January – Return for authorities deducting tax at [Read More]
Margin base valuation in case of purchase of second hand goods Chargeability of GST: [Section 9] There shall be levied a tax called the central goods and services tax on all intra-State supplies of goods or services or both, Except [Read More]
Advisory for Taxpayers Filing of Quarterly Returns FORM GSTR1 Taxpayers opting for quarterly filing of return will have to select the last month of the quarter from the drop down menu. However, for the month of July 2017, GSTR-1 has [Read More]
Liability of employer for not deducting PF under Employer Provident Funds and Misc. Provisions Act, 1952 Liability to deduct PF on overtime: For ascertaining whether to deduct PF on particular component of Basic Wages one has to determine:- Whether the [Read More]