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A lighter version for e-filing your income tax return named as” e-filing lite” is launched by the Income Tax Department. This can be accessed through clicking on E-filing lite on  home page. This page will only cover filing of return and for all the services, click on “Portal login” on the home page .FAQsWhat is income tax?Income tax is the amount which is required to be paid by the individual on the basis of his income.What is income tax return?Income tax return is the statement of all the income earnedSEE DETAILS

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GST (Goods and Services Tax) India

What is the Letter of Undertaking under GST?Letter of undertaking is the document that the user provides declaring fulfillment of all requirements under GST. It is furnished in case of export undertaken without paying IGST. Also, according to the Notification No. 37 /2017 – Central Tax It is mandatory to furnish LUT to export goods or services or both without paying IGST. If the exporter fails to provide the LUT, then he has to pay IGST or provide an export bond. Earlier LUT could only be filed offline at theSEE DETAILS

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Income Tax Learning

 Income tax is payable if any individual earns an income in a financial year. The tax rate depends on the aggregate income which the individual has earned under the following heads –Income from SalaryIncome from House PropertyIncome from Capital GainsIncome from Business or ProfessionIncome from Other SourcesAll the five heads of income are added together to arrive at the total income which is subject to income tax. There is a tax slab based on which the income calculated aggregating the five heads is calculated. The tax slabs are different forSEE DETAILS

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GST (Goods and Services Tax) India

  Value of SupplyIn GST regime it is important to know about the value of goods or services or both on which tax is to be paid. As per CGST Act, 2017 along with rules prescribed the provisions for determining the value of supply of goods or services have been made applicable in different circumstances and to different people.Value of  taxable supplyWhich section describe the value of supply?Value of taxable supply as per section 15Inclusions in the Value of supplyTaxes, duties,cesses,fees and ChargesAmount incurred by recipient on behalf of supplierIncidental expensesSEE DETAILS

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Income Tax Learning

 Money has become as important as natural resources to survive in this world. Prices of almost everything are touching the sky and it is making survival of a common man extremely difficult. Food is the most basic commodity for survival and the prices of the same fluctuate the most. It directly affects the economy and lifestyle of the common man. Since inflation occurs due to market forces, the government tries to stabilise the prices by introducing several tools. Amongst the tools introduced by the government, Dearness allowance is one ofSEE DETAILS

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