Latest FAQ on GST Composition Scheme

Latest FAQ on GST Composition Scheme: In this article, we’re going to answer a bunch of common questions about the GST composition scheme. These are the questions that many people have when dealing with GST. By answering these questions clearly and simply, we hope to make it easier for businesses and taxpayers to understand and … Read more

GST Composition Scheme Turnover Limit: A Comprehensive Guide

GST Composition Scheme Turnover Limit: The turnover limit for businesses to be eligible for the Composition Scheme under the Goods and Services Tax (GST) in India is ₹1.5 crore. This turnover threshold determines which businesses can opt for the Composition Scheme and enjoy its simplified compliance and lower tax rates. GST Composition Scheme Turnover Limits Overview … Read more

Composition Scheme Tax Rates under GST

The tax rates provided pertain to businesses operating under the Composition Scheme of the Goods and Services Tax (GST) in India. The Composition Scheme is a simplified taxation system aimed at reducing the compliance burden for small businesses by offering lower tax rates and streamlined procedures. Under this scheme, eligible businesses can opt to pay … Read more

Composition Scheme Under GST – Updated 2024

Composition Scheme Under GST: The Composition Scheme is like a shortcut for small businesses when it comes to paying taxes. Instead of dealing with all the complicated rules of GST, they can follow this simpler way. Basically, instead of paying taxes based on how much they sell and buy, businesses in the Composition Scheme just … Read more

ITR Filing Due Dates AY 2024-25 (FY 2023-24)

Introduction: 🎉💼 Welcome to the world of Income Tax Return (ITR) filing for Assessment Year 2024-25! 📅💰 In this comprehensive guide, we’ll navigate through the crucial deadlines, penalties, and procedures associated with #IncomeTaxReturn filing due dates AY 2024-25 and #ITR Filing Due dates AY 2024-25. Whether you’re curious about avoiding #DelayedFiling ITR AY 2024-25 or … Read more

Key Changes in New ITR Forms for Assessment Year 2024-25

The government has released new tax forms (ITR Forms 2, 3, and 5) for the year 2024-25 through a notice called Notification No. 19/2024, dated January 31, 2024. What you need to know about the new forms: The types of forms for different taxpayers are still the same. However, the new forms ask for more … Read more

Download India Budget 2024 Highlights, Speech, Finance Bill PDF

Explore the official links we’ve shared where you can easily download important documents for India’s Budget 2024. Get the Finance Minister’s speech, highlights, and the Finance Bill in PDF format directly from the official Union Budget of India website: Stay updated on crucial fiscal policies and government allocations for the upcoming year with these … Read more

Sukanya Samriddhi Yojana Calculator Excel: Download Free SSY Calculator

Sukanya Samriddhi Yojana Calculator Excel: A tool that simplifies complex calculations and projections in the personal finance world would be a great asset. A new Excel tool makes it easier for investors to understand their investments in the Sukanya Samriddhi Yojana. With this Sukanya Samriddhi Yojana Calculator Excel, users can estimate maturity values, interest amounts, … Read more

GSTR 9 Annual Return: Turnover Limit, Last Date, Late Fee and Rules

GSTR 9 Annual Return: Turnover Limit, Last Date, Late Fee and Rules:  GSTR-9 is a yearly report that most businesses in the GST system need to submit. It’s like a summary of their entire year’s activities, showing what they said they did in their returns compared to what’s in their financial records. It has specific … Read more

Fillable Form 15G and 15H PDF and Excel – Download

Fillable Form 15G and 15H PDF and Excel: Form 15G and Form 15H are self-declaration forms in India used to declare that one’s income falls below the taxable limit.  The primary purpose of these forms is to prevent Tax Deducted at Source (TDS) on certain incomes, such as interest earned on fixed deposits, recurring deposits, … Read more

Form 15H: How to Download and Fill Form 15H?

Form 15H is a self-declaration senior (aged 60 or above) can use to lessen the tax taken from interest earned on fixed or recurring bank deposits. For senior citizens, the bank usually takes tax (TDS) on deposit interest above Rs. 50,000. However seniors can avoid this tax by using Form 15H if they meet these … Read more

Form 15G: How to Fill and Download Form 15G for EPF Withdrawals

Form 15G is like a declaration form you give to banks or financial places when you don’t earn enough to pay taxes. If your yearly income is under Rs. 2.5 lakhs, this form helps you avoid TDS (tax deducted) when taking money out of your PF account. It’s a way to tell them you don’t … Read more

TDS on EPF Withdrawal with Tips to Avoid TDS

TDS on EPF Withdrawal: TDS on EPF Withdrawal refers to the tax deduction taken directly from the amount withdrawn from your Employees’ Provident Fund. The deducted amount varies based on factors like the withdrawal duration, amount, and whether PAN details are provided. Submitting Form 15G/15H or having income below the taxable limit can exempt you … Read more

Returns under GST – List of All GST Returns

As a taxpayer under GST, you have specific responsibilities that involve complying with various regulations. Periodically, you are required to provide information through returns and statements monthly, quarterly or annually. These GST returns are submitted through the GSTN portal. These are the details of what you’ve sold and the taxes paid on those sales. The … Read more

TDS Return Due Dates FY 2023-24 AY 2024-25

TDS Return Due Dates FY 2023-24 AY 2024-25: TDS returns are a crucial compliance requirement for TDS deductors. Filing your TDS return in a timely manner is imperative; failing to do so can lead to substantial penalties along with late payment of TDS. In this article, we will outline the TDS return due dates, TDS … Read more

Penalty for Not Filing Tax Audit Report

It is mandatory for the above taxpayers to file tax audit reports by the deadline. The due dates are also listed above. The assessee is liable to pay a penalty for late filing or non-filing of tax audit report if he fails to submit the audit report. Now we need to ask how much penalty … Read more

How to File Revised Income Tax Return for A.Y 2023-24?

How to File Revised Income Tax Return?: As a taxpayer, it’s not uncommon to realize that you’ve made a mistake or missed important details in your initial Income Tax Return (ITR) submission. The good news is that you can rectify these errors. The process involves using the tax authorities’ online platform, known as the eFiling … Read more

Advance Tax Payment Due Dates (A.Y.2024-25) (F.Y.2023-24)

Advance Tax Payment Due Dates FY 2023-24: Advance Tax is the pre-paid tax paid by the assessee on the income earned during the year. In simple terms, you can say that the assessee must pay taxes in advance on the estimated income for the year in installments. This applies to individual taxpayers, company, and corporate taxpayers. … Read more

PAN Card Correction Form 2023 PDF – Download

PAN Card Correction Form 2023 PDF – Download: There may be mistakes on a PAN card, such as an incorrect name, birthdate, or contact address. It is quite common for these mistakes to occur.  It is very important to correct these errors, such as name corrections and date of birth changes. It is important to … Read more