GST Refunds

Timely refund mechanism is essential in tax administration, as it facilitates trade through the release of blocked funds for working capital, expansion and modernization of existing business. Thus, under the GST regime, there will be a standardized form for making any claim for r[...]

TDS on Contract – 194 C

Section 194C states that a person is responsible for paying any sum to the resident contractor for carrying out any work (including the supply of labor), in pursuance of a contract between the contractor and the following: The Central Government or any State Governm[...]

Deadline to Pay Advance Tax Ends Tomorrow

Who should pay it? Advance tax is mandatory for all the person like individual, Corporate & Companies as an when there tax liability increases more than  Rs. 10,000/-, However, salaried employees need not to pay advance tax if your employer deducts tax at source (TD[...]

All about the Due Dates of Belated and Income Tax Returns

Due date for filing of Belated ReturnsIncome tax authorities are sending reminders through mails and SMS, regarding your returns pending for filing, if you have received the same you might need to file your income tax return within due date, So, here we are explaining when you ar[...]

All about the Deductions under Section 80G

There are many organizations like charitable institution, NGO’s which help the poor and the needy and you can make donations to these specified organizations, which will ensure the money is used in right purpose.The amount donated can be claimed as deduction under sec 80G of In[...]

Can employer give 80G deduction in Form 16?

In organizations, an employer has to deduct TDS on salaries and then pay the salary amount. The amount deducted as TDS by the employer will reflect in Form 16 along with Chapter VI-A deductions claimed by the employee.Every employee has to submit investment proofs to employer for[...]

When should Salaried Employee file Income Tax Returns

So, you are a salaried employee and TDS on your income has already been deducted from your salary and you are feeling that if TDS has been deducted your responsibility towards Income Tax Department has been completed, but this is not completely true.  Let us clarify... Fili[...]

Time limit and Manner of issuing Tax Invoice

Tax invoices are very important as they are necessary to claim input tax credit. However, there are a particular set of rules for the issuing of the invoices. The invoice referred to in rule 46, in the case of the taxable supply of services, shall be issued within a period of th[...]

GST Invoice Rules 2017

An invoice is a commercial instrument issued by a supplier of goods/services to a recipient. It not only identifies both the parties involved, but also lists, describes the items sold/services supplied, quantifies the items sold, shows the date of shipment and mode of transport, [...]

Key Takeaways from Union Budget-2018

In the Union Budget 2018, there has been a clear effort to empower rural economy by providing support to agriculture and boosting infrastructure and social sectors. Reduced tax burden for senior citizens has been met with great cheer and is a good step. Populist demand of t[...]

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