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.style1 { letter-spacing: normal; font-weight: bold; } .style3 { text-align: justify; letter-spacing: normal; margin-bottom: 10px; } Key Highlights of Direct and Indirect Tax Proposals  Budget 2019-20 on Direct Tax Tax rate reduced to 25% for companies with annual ..

Posted in Union Budget  4 comments |   17994 Views

As per section 16(4) of CGST Act, 2017, last date for taking input tax credit in respect of invoice or debit note pertaining to a financial year is Due date of furnishing of return under section 39 of CGST Act, 2017 for the month of September following the end of that financial year or Actu..

Posted in GST  9 comments |   12654 Views

Ques 1. How to check your result for CA Final/IPCC May 2019? Ans. You can check your result at https://icai.nic.in/caresult. Ques 2. What to do if you forget your credentials? Ans. If the student forgets their roll number while checking their result, then he can view his/her roll number on ..

Posted in Students  5 comments |   12116 Views

Budget 2019 has proposed a new Section 194M, which requires an individual or an HUF , to deduct TDS @ 5%, where they make payment exceeding Rs. 50 Lac in a year to a contractor (referred to in Section 194 C) or to a professional (referred to in Section 194 J) The proposed Section 194M reads as un..

Posted in Income Tax  3 comments |   11662 Views

The 2019 Budget is very much talked about since it is the first budget of the newly elected government and also the first budget to be presented by a Full-time Woman Finance Minister Smt. Nirmala Sitharaman. Before the budget is presented on the 5th July 2019, here is a list of all the important bud..

Posted in Union Budget  14 comments |   8238 Views

The Income Tax Department has brought about certain changes in select ITR forms meant to be used for assessment year 2019-20. Individuals and businesses are required to file their income tax returns for the income earned in financial year 2018-19 using these forms: ITR-1, ITR-2, ITR-3, ITR-4, I..

Posted in Income Tax  8 comments |   7663 Views

HIGHLIGHTS OF ECONOMIC SURVEY o To achieve the objective of becoming a $5 trillion economy by 2024-25, India needs to sustain a real GDP growth rate of 8% o Growth is being driven by an expansionary fiscal policy with rising deficits, fiscal deficit for the year 2019-20 is estimated at 3.4% of..

Posted in Union Budget  1 comments |   6662 Views

PF, ELSS, LIC, NSC, PPF,SSY, Tuition fee, FD for 5 years, ULIP, Home loan principal repayment, Post office saving scheme etc are the common strike off's in our mind as soon as we read "80C". This article states about drawing layout from records of client we owe, value addition we can d..

Posted in Income Tax  2 comments |   6573 Views

This article contains various Compliance requirements under Statutory Laws. Compliance means 'adhering to rules and regulations.' Compliance Requirement Under 1. Income Tax Act, 1961 2. Goods & Services Tax Act, 2017 (GST) 3. Other Statutory Laws 4 Foreign Exchange Management Ac..

Posted in Income Tax  1 comments |   6448 Views

It is a common understanding that an obligation file the return of income under the income-tax Act arises only if the income exceeds the maximum amount not chargeable to tax or when a person desires a loss sustained by him to be carried forward in future. For example, an individual tax payer is not ..

Posted in Union Budget  8 comments |   6064 Views

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