TAX DEDUCTION AT SOURCE ( TDS ) ON CASH WITHDRAWAL ( After Amendment in Sec 194N of the Income Tax Act, 1961 ) Section 194N at Glance
GST Return Filing due date from February to July 2020
What is ITC? ITC – Input Tax Credit is the tax paid on inward supply of goods/services (e.g. purchases) that can be reduced when paying the Output liability. Example:
Inverted Duty Structure: sec 54(3) of CGST Act,2017 It is a situation where the rate of tax on inputs purchased is more than the rate of tax on outputs sold which leads to accumulation of input credit and the need for refund arises. Outward supply includes supply of both Goods & […]
Tax Deducted at Source (TDS) is a mechanism that has been introduced by the Income Tax Department. Under this, the responsible person is supposed to deduct a certain percentage of income as tax before making the payment to the receiver. The payment includes salary, commission, professional fees, interest, rent, etc. Due […]
Frequently Asked Questions – E Way Bill General Portal 1Q. What is the common portal for generation of e-way bill? The common portal for generation of e-way bill is https://ewaybillgst.gov.in 2Q. I am not getting OTP on my mobile, what should I do?
What is GSTR-9C Form? Every registered taxpayer whose aggregate turnover exceeds two crore rupees during a financial year shall be audited in accordance with subsection (5) of section 35 of the CGST Act, 2017 and shall include a copy of the annual accounts audited and a duly certified reconciliation statement in […]
DEPRECIATION RATES AS PER I.T ACT FOR MOST COMMONLY USED ASSETS