BLOGS
PERIOD/DAYS OF EXTENSION FOR NAMES RESERVED AND RESUBMISSION OF FORMS DUE TO COVID-19
Since December 2019, the Covid-19 has grabbed headlines around the world as a successor to its cohorts in the coronavirus family, like the Middle East Respiratory Syndrome (MERS) and Severe Acute Respiratory Syndrome (SARS). In the wake of pandemonium caused by spread...
TDS Update
Due date for Furnishing of TDS/TCS return for Q4 FY 2019-20 is extended to 30.06.2020
GST Update – PMT 09
Form PMT - 09 is available on GST portal. Now, taxpayer can transfer the cash balance available under one head to another head of tax i.e. from CGST to SGST or interest or penalty or vice versa.
Audit Update
Digital Signature can be used to sign Audit Report, Certificate,attention of Documents etc audit-updateDownload
Income Tax Slabs 2020 & Tax Rates in India for FY 2020-21 – Budget 2020 Revised IT Slabs (AY 2021-22)
In India, income tax is levied on individual taxpayers on the basis of a slab system where different tax rates have been prescribed for different slabs and such tax rates keep increasing with an increase in the income slab. Existing tax regime: There are three...
Pending Refunds
👉 Government has issued a press note stating that Income tax undisputed refunds up to Rs. 5 lakhs will be released Soon. 👉 Similarly In GST and Customs Refunds will be released soon. Press-release-Pending-RefundsDownload
TDS on Dividend received from Company or Mutual Fund
👉🏻Any person who receives Dividend from any Indian Company/Mutual Funds more than Rs. 5000 in a year from that company/Mutual fund are subject to TDS @10% as per Section 194 with effect from 01-04-2020. 👉🏻To avoid such TDS Share holder/unit holder may submit form...
No/Lower TDS Certificate
🔗 Section-197 👉Assessee who has availed No TDS/ Lower TDS certificate in FY 2019-20 will be valid till 30-06-2020 irrespective whether application for FY 2020-21 has been filed or not. Note: Such Application can be made through Online portal💻 or E-Mail📧...
TDS CHART UPDATES
with effect from 01.04.2020 🔗 SECTION 194J 👉 TDS on Technical Services = 2%👉 TDS on Professional Services = 10%👉 Monetary Limit Exceeds - Rs. 30000
TDS CHART UPDATES
with effect from 01.04.2020 🔗 SECTION 194-O 👉🏻Applicable for 📲E-Commerce operator 🛒 for sale of goods or provision of service facilitated by it through its digital or electronic facility or platform @1️⃣% ✳️Exemption:- Individual and HUF Operator - Gross Sales <...