Direct Tax Updates: Income Tax Advance Tax last date is 15.06.19 of first instalment for FY 2019-20. Pay on time & avoid levy of penal interest. If your landlord happens to be an NRI, make sure you deduct TDS each month from the rental payment. TDS needs to be 31.2% of the rent, unless the …
RBI Updates: The Reserve Bank of India (RBI)-appointed committee to review the economic capital framework of the central bank failed to arrive at a consensus during a meeting held here on Wednesday, leading to a delay in finalising its report, a top official said. The six-member committee headed by former RBI governor Bimal Jalan decided to …
Direct Tax Updates: Govt dismisses from service, 12 Senior Income Tax Officers (IRSs), including one of the Joint Commissioner, on charges of corruption and professional misconduct, sexual harassment etc. Indirect Tax Updates: The Finance Ministry said Tuesday the new monthly GST return filing system will be rolled out from October. The rollout is three months behind …
Direct Tax Updates: India could review the goods and services tax (GST) structure to further prune the number of items in the highest slab of 28% as it attempts to stave off a slump in demand. Some states have favoured a reduction in tax rates, worried that the slowdown may get entrenched, and have communicated their …
Direct Tax Updates: Income tax Due date for filing returns for Financial year 2018-2019 is 31 July 2019.So, Provide all required Documents for filling your Income tax Return AY 19-20 as soon As possible. penalty of Rs 5,000 will be charged for returns filed after due date but before 31st December. If returns are filed …
Direct Tax Updates: The cuts are being sought by both the direct and indirect tax departments. Direct tax officials are going to ask for a cut in their collection target by Rs 60,000-70,000 crore or 4.3-5.1 per cent of the figure in the interim Budget for 2019-20, for overall yearly growth of 15 per cent. …
Indirect Tax Updates: Gujrat High Court in the matter of Neuvera Wellness Ventures Pvt Ltd Vs State of Gujarat orders release of goods being perishable on furnishing security by way of bond under GST. Companies can claim input tax credit (ITC) under the goods and services tax (GST) regime even if the liability to pay …
Indirect Tax Updates: GST was implemented with effect from 1/7/17 i.e. after the completion of 3 months from commencement of F.Y. 17-18, Due to above the F.Y. 17-18 was a mix of accounting policies/procedures/compliances for two different Tax Mechanism periods: 1-4-17 to 30-3-17 (pre GST period) 1-7-17 to 31-3-18. RBI Updates: The Reserve Bank of …
Direct Tax Updates: CBDT releases draft New FORM No. 10B and rule 17B: Amendment of Form No 10B of the Income-tax Rules, 1962– Draft notification for inputs from stakeholders and the general public. Income-tax authorities do not want to let go the revenue dues owed by shell companies that have been deregistered by the MCA. …
The income tax Due date for filing returns for the Financial year 2018-2019 is 31 July 2019. So, Provide all required Documents for filling your Income-tax Return AY 19-20 as soon As possible. the penalty of Rs 5,000 will be charged for returns filed after the due date but before 31st December. If returns are …