16 Mar Fast Approaching – Important Deadlines
20 March 2020 - GSTR-3B Filing for February 2020 31 March 2020 - ITR Filing (Original & Revised) for AY 2019-20 31 March 2020 - Investing in Tax Saving Schemes for FY 2019-20 ...
MIS-Blog
14 Mar 39th Meeting of the GST Council, New Delhi
14 March, 2020
PRESS RELEASE(Law and Procedure related changes) The GST Council, in its 39th meeting held on 14.03.2020, has made the following recommendations: Measures for Trade facilitation:a. Interest for delay in payment of GST to be charged on the net cash tax liability w.e.f. 01.07.2017 (Law to be amended...
14 Mar Parliament approves tax dispute resolution scheme ” Vivad se Vishwas”
Parliament on Friday approved a bill that will provide an opportunity to taxpayers to settle their tax disputes by paying just due taxes with complete waiver of interest and penalty by March 31. ...
14 Mar GST council meeting update
source CNBC - GST council will consider issues with regard to glitches at GST portal. ...
12 Mar GUIDELINES-Allotment of Instant PAN Through Aadhaar Based e-KYC
1. General scheme of Instant PAN allotment This facility is for allotment of Instant PAN (on near-real me basis) for those applicants who possess a valid Aadhaar number. PAN is issued in PDF format to applicants, which is free of cost. The applicant is required to type...
06 Mar PAN-Aadhaar not linked yet? You may have to pay Rs 10,000 fine.
PAN-Aadhaar linking: If the PAN card becomes inoperative, then the assessing officer shall levy Rs 10,000 under section 272 B of the Income tax Act. The Income Tax department might impose a penalty of Rs 10,000 on those who don't link their PAN card with Aadhaar card...
02 Mar Compliances
INCOME TAX Due Dates Particulars Challan/Form No. 7th Mar 2020 Deposit of Tax Deducted Challan No 281 15th Mar 2020 4th Instalment of Advance Tax for A.Y. 2020-21 Challan No 280 15th Mar 2020 Due date for payment of whole amount of advance tax in respect of assessment year 2020-21 for assessee covered under presumptive scheme of Section...
26 Feb Donation By Members To The Charitable Trust
While paying donation under section 80G to the charitable Institutions many of the companies have deducted taxes under 194C and194J they claim the amount given as their expenditure in connection with their business and claim deduction from their taxable incomes respectively. The method adopted is...
19 Feb IMPACT OF BUDGET 2020 ON CHARITABLE INSTITUTIONS
The Union Budget and Finance Bill 2020 has proposed major changes for charitable trusts and institutions. Registration u/s 12AA means the Income Tax authorities recognize the trust or institution as “established for charitable purpose” and therefore exempt from payment of income tax, subject to other compliances...
13 Feb TAX AUDIT FOR BUSINESS
TAX AUDIT FOR BUSINESS/TRADING INCOME HAVING TURNOVER UNTO 5 CR? The increase in threshold limit of turnover from INR 1 Cr. to INR 5 Cr. for a tax audit applicability. The increased limit is applicable to small retailers, traders and shopkeepers who earn Business Income. Increased...