GSTR-1 is a monthly or quarterly return that is supposed to be filed by every registered dealer, registered under GST. GSTR-1 contains the details of outward supplies or Sales. All in all, this return has 13 sections.What is the due date to file GSTR-1? The due dates to file GSTR-1 varies depending on the turnover… Continue reading Detailed Information about GSTR-1
Generally, many of us claim Tax Deduction under section 80C, but there are other sections too, under which you can claim the deduction and save taxes. Here is detailed information about those sections: – SECTION 80U This section of Income Tax Act came into being on 1st April 2004, this section talks about the tax… Continue reading Claiming Deduction, but not under Section 80C
The Direct Tax Code will be implemented by 2018 July, this code will extend 25% of corporate tax on various firms over the period of time and will provide tax relief to the individual taxpayers. All About New Direct Tax Code It is the common belief that, this Direct Tax Code will bring the ray of hope for businesses… Continue reading All About New Direct Tax Code – All India ITR
As we cross into March, another financial year is drawing to a close. If you are a salaried individual you will have noticed the bustle around the office accounts department as they prepare to close their books. Your financial obligations to the government are due as long as you do not learn how to e-file… Continue reading Learn How to E-file your Income Tax Return in 2018
Income tax return imposed on EPF or Employee Provident Fund is an important matter of concern for the employees. There is traditional believe works on their mind that withdrawing money from EPF account is tax-free. In reality, EPF withdrawals are taxable depending on some conditions and in some cases, TDS also get deducted. So, let’s… Continue reading Income Tax Return Liabilities Possessed on EPF withdrawals
TDS payment has been made mandatory for the house rent exceeding INR 50,000 a year and this will applicable for a metropolitan city. The TDS need to be deducted by the rent payer on behalf of their landlord. This decision is the result of current government’s focus of widening the tax net but ultimately the… Continue reading TDS Mandatory if Rent Exceeds Fifty Thousand
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