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Accounting-Entries-under-GST
GST (Goods and Services Tax) India, Latest News

    The introduction of the biggest indirect taxation reform in India namely Goods and ServicesTax (GST) has impacted the functioning of all the sectors of the economy. The impact of the radical shift can also be tracked in the segment of Finance and Accounting as well. Prior to the introduction of GST in India Separate accounting entries for each indirect tax law like service tax, excise, VAT etc was required to be made separately. Now only entries under the goods and services tax are required to be taken onSEE DETAILS

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Chapter 66: HSN Codes and GST Rates for Umbrellas, walking stick etc

Chapter 66: Umbrellas, walking stick and accessories Rates (%)Products Descriptions  HSN codes Export and Import HSN Codes 12%Umbrellas and sun umbrellas (including walking-stick umbrellas, garden umbrellas and similar umbrellas)660166011000, 66019100, 6601990012%Whips, riding-crops and the like6602660200005%Walking-sticks including seat sticks6602 00 006602 00 0012%Parts, trimmings and accessories of articles of heading 6601 or 6602660366032000, 66039010, 66039090DisclaimerThe HSN codes and rates have been arranged as per the best of authors understanding and are subject to periodical updates as per the law for the time being in force. It does not constitute professional adviceSEE DETAILS

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ITR-4
Income Tax e-Filing, Latest News

Form ITR- 4 also popularly known as Sugam applies to i.e. can be filed by these people under the income tax provisions, namely, Individuals, HUFs and Firms (other than LLP), who are residents of the country and having total income up to Rs.50 Lakh in the previous year and They are deriving such income from business and profession, computed by sections 44AD, 44ADA or 44AE on the presumptive basis. Non Applicability of Form ITR 4 We have already understood the cases in which Form ITR 4 can be filed. But,SEE DETAILS

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Form-ITR-1-sahaj
Income Tax e-Filing, Latest News

The time of the year is back when the people under the purview of income tax have to calculate their earnings of the previous year and ascertain the amount of tax that they are required to pay. Every year, for this purpose Income Tax department, launches its utilities form for the ease of the user to calculate their tax liability and submitting the return thereof. ITR-1 SAHAJ ITR-1 Form a.k.a Sahaj, as the name suggests, is one of the easiest income tax return form. The excel utility of this formSEE DETAILS

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TDS-Challan-INTS-281
Latest News, TDS

With the advent of new technologies and electronic media, everything is getting upgraded to meet the requirement of technology-driven generation. As a result, the processes like filing returns, paying taxes is also getting updated. Same initiatives have also been undertaken by the Income Tax Department in the year 2004. The introduction of Online Tax Accounting System (OLTAS) for Direct Taxes was done as an outcome. This system was introduced to reduce human intervention in the process and reducing errors. The system also facilitates its user to ascertain the status ofSEE DETAILS

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ITR-Forms-For-FY-2018-19(AY-2019-20)
Income Tax e-Filing, Income Tax Help, Income Tax Learning, Latest News

With the beginning of the new financial year, time for settlement of accounts and disclosing what one has earned in the previous year arrives. Such disclosure is required to be filed in the form of returns prescribed by Income Tax which are known as Income Tax Return (ITR) Forms. As always CBDT has notified the Income Tax Return forms for FY 2018-19( AY 2019-20). These ITR forms contain fields to furnish the relevant and required information. There are different ITR forms for different categories of taxpayers/ assessee/ user. In thisSEE DETAILS

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7th-Pay-Commission
7th pay commission, Latest News

Proposed Pay Scale for different Central government employees and Defence employees under 7th Pay Commission Under new pay scale proposed by 7th pay commission, all the central government employees’ salaries will get a 23% hike. The main agenda of the 7th pay commission is to review the 6th CPC reports and submit a revised report to the government, proposing the changes in existing pay scale and allowance for the government and defence officials. So here we have described the revised pay scales for employees working in different fields- Proposed PaySEE DETAILS

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Pan card with Aadhar card
Latest News

The aadhar PAN link deadline has been extended to 30th September 2019. Central Borad of Direct taxes (CBDT) has pronounced the extension in aadhar card linking with pan card on 31st March 2019. vide its notification no 31/2019. Also, Income Tax India inits recent tweet has clarified the news stating the same. The feed says, “there were reports in media that PANs which are not linked with aadhar by 31.03.2019 may be invalidated. Now, the cut off dt for intimating Adhar no & linking PAN with Aadhar is 30.09.2019, unlessSEE DETAILS

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E-way-Bill-System--Forthcoming-changes
GST (Goods and Services Tax) India, Latest News

The existing system of e-way bill system had some practical challenges. Addressing these the GST authorities has made 4 changes in their system. Here is the list of changes of forthcoming changes in the e-way bill system.   1.Auto Calculation of the Route distance in kilometers: The first change in the generation of the e-way system if the auto- calculation of the distance in kilometers. This means that when the user will enter the pin codes of the parties, routes distance will automatically calculated using a proprietary logic. The e-waySEE DETAILS

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Income-Tax-e-Proceedings
Latest News

e-Proceedings is a digital platform, developed by the Income Tax department of India in 2017. The major objective of this platform was to bring efficiency and transparency in scrutinizing the Income Tax procedure. Read the article to know everything that you need to know about ‘e-Proceedings’. What is an ‘e-Proceeding’? It is an electronic platform created by the Income Tax department. The main purpose of this platform is to conduct proceedings from the beginning to the end, i.e, in an ‘end to end’ manner. Income tax proceedings have become moreSEE DETAILS

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