computation of income tax format in excel

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FM writes to state to reduce burden of VAT on petroleum products


Finance Minister Sh Arun Jaitley writes to State Chief Ministers to reduce burden of Value Added Tax on Petroleum Products used for manufacturing The Union Minister of Finance Defence and Corporate Affairs Shri Arun Jaitley has written to State Chief Ministers urging the States to reduce burden of V

Clarification regarding number of Taxpayers added after Demonetization


Various news reports articles have appeared in the media regarding inconsistency in the estimates of the number of taxpayers added after demonetization It has been commented that the following different figures have been given at different forums by different authorities i The Prime Minister mention

Last date for GST payment and GSTR3B return extended by 5 days


LAST DATE FOR PAYMENT OF GST AND FILING OF RETURN FOR JULY 2017 EXTENDED BY 5 DAYS The last date for payment of taxes and filing of GST Return in Form 3B for the month of July is 20th of August 2017 Since it is the first Return to be filed under GST the tax payers and the tax practitioners have requ

Clarification regarding transitional credit and extension of GSTR3B


Government of India Ministry of Finance 17 August 2017 20 03 IST On Clarification regardingavailability of Transitional Credit for GST As per the rules the Goods and Services Tax GST for the month of July 2017 has to be paid by 20th August 2017 Only after the payment of full GST return in summary Fo

Accounting treatment for property, plant and equipment


Indian Accounting Standard Ind AS 16 Property Plant and Equipment prescribe the accounting treatment for property plant and equipment so that users of the financial statements can discern information about an entitys investment in its property plant and equipment and the changes in such investment T

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Experts Opinions

Agriculture income


if an assessee does not own farm land but he takes it on a rent from actual owner farmer for farming purpose and sale the crop grown from it gross receipt of Rs 325000 net income of Rs 135000 and he also sales fruits and vegetables on wholesale and retail basis by purchasing from others total t o Rs

itc carry fwd of centralised registration under service tax


Credit may be transferred to any of the Registered Persons having the same PAN for which the centralised registration was ob tained My client has centralised registration in delhi and working only through gurgaon office the centralised regoistration certificate does not have gurgaon office in RC its

Input tax credit under rcm


Mr A supplying Nil rated goods While purchasing goods Mr B Charged SGST 2375 and CGST 2375 on Supplies and Mr A has to pay SGST 1350 and CGST 1350 on Rent under RCM he has no taxable outward supplies Every month is repeated same Mr A can not use ITC for Paying tax GST under RCM Now my Query is How c

Tax audit, income tax


If the turnover of the Partnership Firm is below One Crore and Net income showing loss for the financial Year 2016 17 in this case whether Tax Audit is compulsory or ITR can be file without tax audit

Service tax input credit


We have received an invoice after Q1 Books of accounts closed with invoice date 26 06 2017 with service tax input 30000 Now we can not go back and make entry and when we asked the vendor he said he has filed service tax return and revised it also in the month of july 17 and can not issue new invoice

Discussion

Tax adjustments

Where to show the tax payable of July for GSTR 3b if gst regs certificate recd in August

reverse tax

composition dealer paid reverse tax or not

TAX on invoices raised before 1.7.2017 and payment received on or after 1.7.2017

if the invoice is raised in the month june 2017 invl service tax and the payment is received in the month of july 2017 whether the amount received is chargeable to tax under Service tax or GST

Tax credit under gst

An assessee having closing Cash balance in Account Current PLA under the Central Excise and duly reflected in the return for June 2017 What will be the fate of the cash balance

Tax on selling power from solar plant

Hi friends Can any one guide me on following This question is raised as I heard many tax holidays under section 80 I 4 on solar power have been removed from April 2017 1 Taxes and duties on selling electricity from Solar power plants to private or govt 2 Incometax on above

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  • Direct Tax Law Answers

    I am posting my answers with questions please check the same and tell me the mistakes
  • GSTR Computation File

    GSTR 1
  • GST Computation Sheet

    This excel sheet is useful for calculation of actual GST payable refund Users can use it on monthly basis as well
  • GST Tax Invoice Format

    GST Tax invoice format having formulas
  • Automatic Invoice Software in Excel (GST compliant)

    Full Fledge Billing Software for Business 1 Complete Billing Software 2 100 GST compliant with format published by GST Council 3 Retail and Tax Bill Bifurcation 4 Automatic applicable IGST CGST and SGST calulation 5 Transfer all bill data to another sheet automatically for analysis 6 Automatic Challan Generation 7 Perfect Print Setup 6 One Click Printing 7 One Click Back up of each invoice in different Folder 8 Back up will be retail bill wise and Tax Bill Wise 9 Completely working based on formula 9 Flexible Formulas 10 Full Customized 11 Client Database with each and every detail 12 No need to input details of party every time 13 only put x in the first column of database and all the details will be transferred to invoice sheet Filters will not work in trial version Pro Version 1 Automatically cloud backup of all invoices 2 Automatic GST rate calculator based on HSN Code will be available as soon as GST rates are published 3 Automatic GST rate calculator based on Name of Goods 4 Monthwise analysis of Party wise sales month wise IGST SGST CGST liability calculation 5 1 week trailing for GST return filing and this software with the fulfillment of the custom requirement of business 6 Automatic transfer of sales invoice data in the form of outward return of GST outward return is to be filled in form GSTR 1 every month 7 Free 1st GST return filing

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Articles

Reversal of Input Tax Credit


If a person who is paying tax in normal scheme and wants to shift to Composition scheme or where goods or services supplied by him become wholly exempt he has to paycredit of input tax in respect of inputs held in stock and inputs contained in semi finished or finished goods held in stock and on cap


Tax Audit (Sec 44AB) limit for Business is 1 Crore or 2 Crore?


What is Audit Audit means an inspection of books of accounts by some officials or some specified persons for the purpose of establishing the fact that the accounting records present a true and fair view Types of Audit There are two types of audit namely Statutory audit and Tax audit What is Statutor


Only Registered taxpayer have Freedom in GST!


Arjuna Fictional Character Krishna 15th August is the Independence Day of India Freedom fighter fought in 1947 for Independence of the country From last month GST has been applicable So on the occasion of this Independence Day what information about GST would you give Krishna Fictional Character Arj


Meaning of supply, time of supply and value of taxable supply


Meaning and Scope of Supply Q 1 What is the taxable event under GST Ans The taxable event under GST shall be the supply of goods or services or both made for consideration in the course or furtherance of business The taxable events under the existing indirect tax laws such as manufacture sale or pro


9 Excel print settings you probably don't know about


Printing is one area in Excel where I find that users dont take full advantage of the options provided by Excel Below I present 9 Excel print tips which I am sure youd like to know to make the task of printing your worksheets seem like a breeze So lets begin without any ado 1 Print Row and Column Ti


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Updated on : 8/21/2017 7:29:25 PM


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