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Due dates for the Month of April 2021
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10th
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GST – Return for authorities deducting tax at source – GSTR 7 for February – Details of supplies effected through e-commerce operator and the amount of tax collected – GSTR 8 for March. |
11th
|
GST – Details of outward supplies of taxable goods and/or services effected – GSTR 1 for March. |
13th
|
GST – Return for Input Service Distributor – GSTR 6 for March – Quarterly Return GSTR 1 for January to March 2021 turnover not exceeding Rs. 1.5 crore |
15th
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Providend Fund – PF Payment for March ESIC – ESIC Payment for March |
18th
|
GST – Return for composition taxable person- GSTR 4 for January to March |
20th
|
GST – Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of the amount of tax – GSTR 3B for March – Return for Non-Resident foreign taxable person – GSTR 5 for March |
22nd
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GST – GSTR 3B for February if turnover below Rs. 5 Crore for Gujrat, Madhya Pradesh, Chattisgarh, Maharashtra, Telangana. Andhra Pradesh, Karnataka, Goa, Kerala, Tamil Nadu, Puducherry, Dadra & Nagar Haveli |
24th
|
GST – GSTR 3B for March if turnover below Rs. 5 Crore for the Rest of India. |
28th
|
GST – Details of Inward Supplies to be furnished by a person having UIN and claiming refund – GSR 11 for March. |
30th
|
Income Tax
– TDS deduction for the month of March Profession Tax |
Software Solutions Available on:
TDS | PAYROLL | WEB PAYROLL | WEB HRMS | XBRL | FIXED ASSET |INCOME TAX| SERVICE TAX | DIGITAL SIGNATURE | ATTENDANCE MACHINE & CCTV | DATA BACKUP SOFTWARE | PDF SIGNER |
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Sensys Technologies Pvt. Ltd.
HO: 904, 905 & 906, Corporate Annexe, Sonawala Road, Goregaon East, Mumbai- 400 063. Tel.: 022-6820 6100| Call: 09769468105 / 09867307971 Email: sales@sensysindia.com | Website: http://www.sensysindia.com Branches: Delhi & NCR | Pune | Bangalore | Hyderabad | Ahmedabad | Chennai | Kolkata |
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Visit our BLOG for the latest news and updates related to XBRL, Income Tax, HR & Payroll, PF / ESIC / TDS / PT, etc. Click here to visit Sensys BLOG
|
The draft of the Code on Wages Karnataka Rules, 2021 which The government of Karnataka proposes to make in the exercise of the powers conferred by section 67 of the Code on Wages, 2019 (Central Act No. 29 of 2019) is hereby published as required by sub-section (1) of said section, for the information of all the persons likely to be affected thereby and notice is hereby given that the said draft will be taken into consideration after thirty days from the date of its publication in the Official Gazette.
Facts in essence:
For the assessment year under consideration, the assessee filed his return of income on 27th September 2011, declaring a total income of Rs. 75,73,399 wherein an amount of Rs. 18,455, under the head “Income From House Property” is included and has shown rent received of Rs. 30,000.
Details of the property let out and rent received as furnished by the assessee: Vide letter dated 12th December 2013, the assessee furnished the details and submitted that he along with his father and brother is a co-owner of the flat. It was submitted that a part of the flat was given on rent to a partnership firm, wherein, his father is a partner. Thus, he and his brother both receive the rent of Rs 30,000/- each.
Also, the annual value of the said property has been fixed by the Municipal Authority at Rs. 79,380. Thus, ALV determined by the Municipal Authority could be adopted for determining the income.
Analysis of facts:
When the assessee had furnished a valuation from the Municipal Authorities determining the ALV at Rs. 79,380, the same could not have been rejected without valid and cogent reasoning. Thus, in the absence of any inquiry by the department as to actual market rent of the assessee property, rejecting the Municipal valuation and referring ALV of some other property (which are commercial property let out to the bank and other commercial establishments) or some other estimated rent is un-justice to the assessee.
What is annual letting value:
Reasonable expected rent is deemed to be the sum for which the property might reasonably be expected to be let out from year to year for which the following factors are taken into consideration:
✓ Location of the property
✓ Annual rentable value of the property fixed by municipalities
✓ Rents of the properties in the neighborhood
✓ The rent which the property is likely to fetch having regard to demand and supply
✓ Cost of construction of the property
✓ Nature and history of the property
The fair rent of the property can be determined on the basis of a rent fetched by a similar property in the same or similar locality. Fair rent is based on some scientific basis and is not the estimated rent or an arbitrary rental value. Also, for collecting municipal taxes, local authorities make a periodical survey of all buildings in their locality in their jurisdiction. Such valuation may be taken as a piece of strong evidence representing the earning capacity of a building. However, it can’t be considered to be conclusive evidence in all cases.
Moreover, in metro cities, municipal authorities determine net rateable value after deducting 10 percent of the gross rateable value, on account of repairs and an allowance for service taxes. The net municipal valuation thus arrived at, requires a fair adjustment for determining reasonable expected rent for income tax purposes. However, such valuation can’t be rejected without valid and cogent reasoning.
Conclusion:
When the assessee had furnished a valuation from the Municipal Authorities determining the ALV at Rs. 79,380, the same could not have been rejected without valid and cogent reasoning. In view of the
aforesaid, AO has to accept the assessee’s claim that the ALV of the property has to be determined at Rs. 79,380, as per the valuation of Municipal Authorities and thereafter assessee’s share shall be determined for addition under the head income from house property.
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Due dates for the Month of March 2021
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7th
|
Income Tax – TDS Payment for February |
10th
|
GST – Return for authorities deducting tax at source – GSTR 7 for February – Details of supplies effected through e-commerce operator and the amount of tax collected – GSTR 8 for February |
11th
|
GST – Details of outward supplies of taxable goods and/or services effected – GSTR 1 for February |
13th
|
GST – Return for Input Service Distributor – GSTR 6 for February |
15th
|
Providend Fund – PF Payment for February ESIC – ESIC Payment for February Income Tax – Advance Income Tax – Final Installment for All Assessees |
20th
|
GST – Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of the amount of tax – GSTR 3B for February – Return for Non-Resident foreign taxable person – GSTR 5 for February |
22nd
|
GST – GSTR 3B for February if turnover below Rs. 5 Crore for Gujrat, Madhya Pradesh, Chattisgarh, Maharashtra, Telangana. Andhra Pradesh, Karnataka, Goa, Kerala, Tamil Nadu, Puducherry, Dadra & Nagar Haveli |
24th
|
GST – GSTR 3B for February if turnover below Rs. 5 Crore for the Rest of India. |
28th
|
GST – Details of Inward Supplies to be furnished by a person having UIN and claiming refund – GSR 11 for February. |
31st
|
Income Tax
– TDS / TCS Quarterly Statement (Other than Government Deductor) for October to December 2020 Profession Tax |
Software Solutions Available on:
TDS | PAYROLL | WEB PAYROLL | WEB HRMS | XBRL | FIXED ASSET |INCOME TAX| SERVICE TAX | DIGITAL SIGNATURE | ATTENDANCE MACHINE & CCTV | DATA BACKUP SOFTWARE | PDF SIGNER |
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Sensys Technologies Pvt. Ltd.
HO: 904, 905 & 906, Corporate Annexe, Sonawala Road, Goregaon East, Mumbai- 400 063. Tel.: 022-6820 6100| Call: 09769468105 / 09867307971 Email: sales@sensysindia.com | Website: http://www.sensysindia.com Branches: Delhi & NCR | Pune | Bangalore | Hyderabad | Ahmedabad | Chennai | Kolkata |
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Visit our BLOG for the latest news and updates related to XBRL, Income Tax, HR & Payroll, PF / ESIC / TDS / PT, etc. Click here to visit Sensys BLOG
|
|
Due dates for the Month of March 2020
|
7th
|
Income Tax – TDS Payment for February |
10th
|
GST – Return for authorities deducting tax at source – GSTR 7 for February – Details of supplies effected through e-commerce operator and the amount of tax collected – GSTR 8 for February |
11th
|
GST – Details of outward supplies of taxable goods and/or services effected – GSTR 1 for February |
13th
|
GST – Return for Input Service Distributor – GSTR 6 for February |
15th
|
Providend Fund – PF Payment for February ESIC – ESIC Payment for February Income Tax – Advance Income Tax – Final Installment for All Assessees |
20th
|
GST – Monthly return on the basis of finalisation of details of outward supplies and inward supplies along with the payment of amount of tax – GSTR 3B for February – Return for Non-Resident foreign taxable person – GSTR 5 for February |
28th
|
GST – Details of Inward Supplies to be furnished by a person having UIN and claiming refund – GSR 11 for February. |
31st
|
GST
– GSTR 9 and 9C Audit report, Annual Return for FY 2018-19 |
Software Solutions Available on:
TDS | PAYROLL | WEB PAYROLL | WEB HRMS | XBRL | FIXED ASSET |INCOME TAX| SERVICE TAX | DIGITAL SIGNATURE | ATTENDANCE MACHINE & CCTV | DATA BACKUP SOFTWARE | PDF SIGNER |
|
Sensys Technologies Pvt. Ltd.
HO: 904, 905 & 906, Corporate Annexe, Sonawala Road, Goregaon East, Mumbai- 400 063. Tel.: 022-6820 6100| Call: 09769468105 / 09867307971 Email: sales@sensysindia.com | Website: http://www.sensysindia.com Branches: Delhi & NCR | Pune | Bangalore | Hyderabad | Ahmedabad | Chennai | Kolkata |
|
Visit our BLOG for latest news and updates related to XBRL, Income Tax, HR & Payroll, PF / ESIC / TDS / PT etc.. Click here to visit Sensys BLOG
|
|
Due dates for the Month of February 2020
|
7th
|
Income Tax – TDS Payment for January |
10th
|
GST – Return for authorities deducting tax at source – GSTR 7 for January – Details of supplies effected through e-commerce operator and the amount of tax collected – GSTR 8 for January |
11th
|
GST – Details of outward supplies of taxable goods and/or services effected – GSTR 1 for January |
13th
|
GST – Return for Input Service Distributor – GSTR 6 for January |
15th
|
Providend Fund – PF Payment for January ESIC – ESIC Payment for January |
20th
|
GST – Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of amount of tax – GSTR 3B for January – Return for Non-Resident foreign taxable person – GSTR 5 for January |
28th
|
GST – Details of Inward Supplies to be furnished by a person having UIN and claiming refund – GSR 11 for January. |
29th
|
Profession Tax – Monthly Return (covering salary paid for the preceding month) (Tax Rs. 50,000 or more) |
Software Solutions Available on: |
|
Sensys Technologies Pvt. Ltd.
904, 905 & 906, Corporate Annexe, Sonawala Road, Goregaon East, Mumbai- 400 063. Tel.: 022-6820 6100| Call: 09769468105 / 09867307971 Email: enquiry@sensysindia.com| Website: http://www.sensysindia.com Branches: Delhi & NCR | Pune | Bangalore | Hyderabad | Ahmedabad | Chennai | Kolkata |
|
Visit our BLOG for latest news and updates related to XBRL, Income Tax, HR &Payroll, PF / ESIC / TDS / PT etc..
Click here to visit Sensys BLOG |
|
Due dates for the Month of January 2020
|
7th
|
Income Tax – TDS Payment for December |
10th
|
GST – Return for authorities deducting tax at source – GSTR 7 for December – Details of supplies effected through e-commerce operator and the amount of tax collected – GSTR 8 for December |
11th
|
GST – Details of outward supplies of taxable goods and/or services effected – GSTR 1 for December |
13th
|
GST – Return for Input Service Distributor – GSTR 6 for December |
15th
|
Providend Fund
– PF Payment for December ESIC – ESIC Payment for December |
18th
|
GST – Quarterly Return for composition taxable person – GSTR 4 for October to December |
20th
|
GST – Monthly return on the basis of finalisation of details of outward supplies and inward supplies along with the payment of amount of tax – GSTR 3B for December – Return for Non-Resident foreign taxable person – GSTR 5 for December |
28th
|
GST – Details of Inward Supplies to be furnished by a person having UIN and claiming refund – GSTR 11 for December |
31st
|
GST – Quarterly Return for October to December 2019 turnover exceeding 1.5 crore |
31st
|
Income Tax – TDS / TCS Quarterly Statements (Other than Government Deductor) for October to December Profession Tax – Monthly Return (covering salary paid for the preceding month) (Tax Rs. 50,000 or more) |
Software Solutions Available on:
TDS | PAYROLL | WEB PAYROLL | WEB HRMS | XBRL | FIXED ASSET |INCOME TAX| DIGITAL SIGNATURE | ATTENDANCE MACHINE & CCTV | DATA BACKUP SOFTWARE | PDF SIGNER |
|
Sensys Technologies Pvt. Ltd.
HO: 904, 905 & 906, Corporate Annexe, Sonawala Road, Goregaon East, Mumbai- 400 063. Tel.: 022-6820 6100| Call: 09769468105 / 09867307971 Email: enquiry@sensysindia.com | Website: http://www.sensysindia.com Branches: Delhi & NCR | Pune | Bangalore | Hyderabad | Ahmedabad | Chennai | Kolkata |
|
Visit our BLOG for latest news and updates related to XBRL, Income Tax, HR & Payroll, PF / ESIC / TDS / PT etc.. Click here to visit Sensys BLOG
|
|
Due dates for the Month of December 2019
|
7th
|
Income Tax – TDS Payment for November |
10th
|
GST – Return for authorities deducting tax at source – GSTR 7 for November – Details of supplies effected through e-commerce operator and the amount of tax collected – GSTR 8 for November |
11th
|
GST – Details of outward supplies of taxable goods and/or services effected – GSTR 1 for November |
13th
|
GST – Return for Input Service Distributor – GSTR 6 for November |
15th
|
Providend Fund
– PF Payment for November ESIC – ESIC Payment for November Income Tax – Advance Income Tax for all Assessees |
20th
|
GST – Monthly return on the basis of finalisation of details of outward supplies and inward supplies along with the payment of amount of tax – GSTR 3B for November – Return for Non-Resident foreign taxable person – GSTR 5 for November |
28th
|
GST – Details of Inward Supplies to be furnished by a person having UIN and claiming refund – GSTR 11 for November |
31st
|
GST – Annual Return GSTR6 / 9A / 9B / 9C for Previous Financial Year |
31st
|
Profession Tax – Monthly Return (covering salary paid for the preceding month) (Tax Rs. 50,000 or more) |
Software Solutions Available on:
TDS | PAYROLL | WEB PAYROLL | WEB HRMS | XBRL | FIXED ASSET |INCOME TAX| DIGITAL SIGNATURE | ATTENDANCE MACHINE & CCTV | DATA BACKUP SOFTWARE | PDF SIGNER |
|
Sensys Technologies Pvt. Ltd.
HO: 904, 905 & 906, Corporate Annexe, Sonawala Road, Goregaon East, Mumbai- 400 063. Tel.: 022-6820 6100| Call: 09769468105 / 09867307971 Email: enquiry@sensysindia.com | Website: http://www.sensysindia.com Branches: Delhi & NCR | Pune | Bangalore | Hyderabad | Ahmedabad | Chennai | Kolkata |
|
Visit our BLOG for latest news and updates related to XBRL, Income Tax, HR & Payroll, PF / ESIC / TDS / PT etc.. Click here to visit Sensys BLOG
|
|
Due dates for the Month of November 2019
|
7th
|
Income Tax – TDS Payment for October |
10th
|
GST – Return for authorities deducting tax at source – GSTR 7 for October – Details of supplies effected through e-commerce operator and the amount of tax collected – GSTR 8 for October |
11th
|
GST – Details of outward supplies of taxable goods and/or services effected – GSTR 1 for October |
13th
|
GST – Return for Input Service Distributor – GSTR 6 for October |
15th
|
Providend Fund
– PF Payment for October ESIC – ESIC Payment for October |
20th
|
GST – Monthly return on the basis of finalisation of details of outward supplies and inward supplies along with the payment of amount of tax – GSTR 3B for October – Return for Non-Resident foreign taxable person – GSTR 5 for October |
28th
|
GST – Details of Inward Supplies to be furnished by a person having UIN and claiming refund – GSTR 11 for October |
30th
|
Income Tax – Return of Income for all Assessees covered under Transfer Pricing Regulations. |
30th
|
Profession Tax – Monthly Return (covering salary paid for the preceding month) (Tax Rs. 50,000 or more) |
Software Solutions Available on:
TDS | PAYROLL | WEB PAYROLL | WEB HRMS | XBRL | FIXED ASSET |INCOME TAX| DIGITAL SIGNATURE | ATTENDANCE MACHINE & CCTV | DATA BACKUP SOFTWARE | PDF SIGNER |
|
Sensys Technologies Pvt. Ltd.
HO: 904, 905 & 906, Corporate Annexe, Sonawala Road, Goregaon East, Mumbai- 400 063. Tel.: 022-6820 6100| Call: 09769468105 / 09867307971 Email: enquiry@sensysindia.com | Website: http://www.sensysindia.com Branches: Delhi & NCR | Pune | Bangalore | Hyderabad | Ahmedabad | Chennai | Kolkata |
|
Visit our BLOG for latest news and updates related to XBRL, Income Tax, HR & Payroll, PF / ESIC / TDS / PT etc.. Click here to visit Sensys BLOG
|
|
Due dates for the Month of October 2019
|
7th
|
Income Tax – TDS Payment for September |
10th
|
GST – Return for authorities deducting tax at source – GSTR 7 for September – Details of supplies effected through e-commerce operator and the amount of tax collected – GSTR 8 for September. |
11th
|
GST – Details of outward supplies of taxable goods and/or services effected – GSTR 1 for September |
13th
|
GST – Return for Input Service Distributor – GSTR 6 for September |
15th
|
Providend Fund – PF Payment for September ESIC – ESIC Payment for September |
18th
|
GST – Quarterly Return for Composition Supplier GSTR 4 for July to September |
20th
|
GST – Monthly return on the basis of finalisation of details of outward supplies and inward supplies along with the payment of amount of tax – GSTR 3B for September – Return for Non-Resident foreign taxable person – GSTR 5 for September |
25th
|
GST – Quarterly submission of details of goods sent for Job work ITC 04 for July to September |
28th
|
GST – Details of Inward Supplies to be furnished by a person having UIN and claiming refund – GSTR 11 for September |
30th
|
LLP – Form 8 – Annual Accounts or Statement of Accounts (if the LLP is registered after 1st October 2017, then the return is to be filed in the year 2019) for previous financial year |
31st
|
Income Tax – TDS Quarterly Statement (Other than Government Deductor) for July to September |
31st
|
Profession Tax – Monthly Return (covering salary paid for the preceding month) (Tax Rs. 50,000 or more) |
Software Solutions Available on:
TDS | PAYROLL | WEB PAYROLL | WEB HRMS | XBRL | FIXED ASSET |INCOME TAX| DIGITAL SIGNATURE | ATTENDANCE MACHINE & CCTV | DATA BACKUP SOFTWARE | PDF SIGNER |
|
Sensys Technologies Pvt. Ltd.
HO: 904, 905 & 906, Corporate Annexe, Sonawala Road, Goregaon East, Mumbai- 400 063. Tel.: 022-6820 6100| Call: 09769468105 / 09867307971 Email: enquiry@sensysindia.com | Website: http://www.sensysindia.com Branches: Delhi & NCR | Pune | Bangalore | Hyderabad | Ahmedabad | Chennai | Kolkata |
|
Visit our BLOG for latest news and updates related to XBRL, Income Tax, HR & Payroll, PF / ESIC / TDS / PT etc.. Click here to visit Sensys BLOG
|