Although Private Limited Company is the most popular form of starting a business, there are various compliances which are required to be followed once your business is incorporated. Managing the day to day operations of your business along with complying…
Author: ADMIN
MSME new criteria and norms of registration- effective from 1st July, 2020
Under the Atma Nirbhar Bharat Abhiyan Finance Minister Nirmala Sitharaman announced revision of definition for Micro, Small and Medium enterprises (MSMEs) where the investment limits have been raised. Not only this but have issued new guidelines for classification and registration…
All About GST E-Invoiceing in India
What is e-invoice in GST? e-Invoice known as ‘Electronic invoicing’ is a system in which all B2B invoices are electronically uploaded and authenticated by the designated portal. Post successful authentication, a unique Invoice Reference Number (IRN) is generated for each…
NEW GST Return Due Dates for GSTR 1 GSTR 3B to GSTR 9 & 9C Due To COVID-19
The government releases the GST return forms details which are mandated to be filed according to the due dates under GST mentioned in the attached notification. The submission and uploading of the returns are totally online. We have mentioned all…
Penalty on late filing of ITR and other tax changes effective from 1st April 2018
Taxpayers who do not file their income tax returns (ITRs) on time will have to shell out a penalty of up to Rs. 10,000, but from the 2018-19 Assessment Year (AY).“In order to ensure that return is filed within due…
Services Supplied to Nepal and Bhutan: GST Applicable or Not ?
When services are supplied to Nepal or Bhutan, all of the above conditions can be satisfied, except the condition ‘The payment for the service has been received by the supplier in convertible foreign exchange’. In Nepal and Bhutan, there can…
How to calculate income tax ?
Income from salary is the sum of Basic salary + HRA + Special Allowance + Transport Allowance + any other allowance. Some components of your salary are exempt from tax, such as medical reimbursements, telephone bills reimbursement. If you receive…
Know about Sahaj (ITR-1) – Income Tax Return filing
Recently, the Central Board of Direct Taxes (CBDT) notified the launch and use of new income tax return filing forms, named as Sahaj for the fiscal year of 2017-18. This is by far the easiest single page form to have…