GST returns: How to prepare for new provisional credit rule; wrongful claim of ITC may attract penal provisions
Apart from the 20 percent of eligible ITC which he can claim as provisional credit, the balance tax due will need to be paid in cash.
Puzzled about GST RET, ANX forms? All you need to know about how to file your returns under new, simplified system
Under the new return system, there will be one return form called the GST RET-1/RET-2/RET-3, which will be the main return form, containing details of inward and outward supplies, input tax credit and taxes paid.
Budget 2019 offers no big tax relief to middle-class taxpayer though Narendra Modi sets $5-tn economy vision
As far as the employment generation initiatives are concerned, tax concessions to businesses surrounding, setting up of more workplaces and factories have always been a favoured option to create employment opportunities.
Real estate investment: Homebuyer must look into taxation aspects of rental income, gains from property sale
An individual who has earned long-term capital gains on the sale of real estate can claim an exemption under Section 54 if he reinvests the gain in another property.
Interim Budget brings relief to individual taxpayers; rebate under section 87A hiked to Rs 12,500 for income up to Rs 5 lakh
The Section 87A limit of Rs. 3,50,000 has been hiked to Rs. 5,00,000 to help bring down taxes for those earning up to Rs 5 lakh.
On a personal front, salaried individuals will hope that the tax slab rate is modified for individual taxpayers
Bringing petrol, diesel, aviation turbine fuel and natural gas under GST, and getting states to agree to that, will be a daunting task for the Modi government.
Taking a look at the various criteria/situations that make return filing mandatory for taxpayers.
Fintech firms are offering value-added services like GST registration and filing, accounting with chartered accountant (CA) support, among others.
The month of March has enormous amount of significance as the income tax laws in India has laid down deadlines for various compliances,
E-way bills are electronic way bills generated for movement of goods whether or not supply.
The Budget has come in as a big disappointment for the common man who had pinned high hopes on it
The government is found wanting in bringing about relief to individual taxpayers on lot many fronts.
The government should increase the minimum income threshold limit to Rs 3 lakh for those below 60 years and raise the 80C deductions to Rs 2 lakh