GST Calculator India

GST Calculator allows you to calculate GST-inclusive and exclusive amounts. This GST Calculator India will enable you to calculate GST quickly. Let’s find out how to use this GST Calculator to know the amount including GST or excluding GST. How to Use GST Calculator India? This GST Calculator is very easy to use and you … Read more

TDS Online Payment – Step by Step Procedure (Challan No.281)

TDS Online Payment: It is mandatory to deposit the tax deducted at source to the credit of the Central Government on or before the due date. Here we will discuss how to deposit TDS online through Challan No.281 step by step. Deductors must deposit TDS to the Government otherwise they will have to pay interest, … Read more

194J TDS on Professional or Technical Services AY 2023-24 & 2024-25

194J TDS AY 2023-24 & AY 2024-25: A complete explanation of section 194J TDS will be presented in this article, including TDS rates, TDS limits, procedures, threshold limits, returns, and more. In accordance with Section 194J of the Income Tax Act of India, TDS is calculated on payments made toward professional and technical fees. Professional services … Read more

TDS TCS Amendments in Union Budget 2023

TDS TCS Amendments in Union Budget 2023: The Union Budget for 2023 proposed several changes in Tax Deducted at Source (TDS) rules that will take effect on April 1. These changes will simplify the process of filing taxes and make it easier for taxpayers to track their TDS deductions. It will also help the government … Read more

GST Registration – Procedure, Eligibility, Documents & Fee

In this post, you will find a complete GST registration procedure, including individuals required for GST registration, compulsory registration, voluntary registration, threshold limits, the GST registration process, a timeline, important points, Aadhaar authentication, GST registration documents, and practical online registration instructions. Persons Liable for GST Registration Every supplier is liable to be registered in the … Read more

ITR Filing Due Dates FY 2022-23 AY 2023-24

In FY 2022-23 (AY 2023-24), the last day to submit an Income Tax Return (ITR) without a late fee is 31st July 2023. Those who file their returns after the due date will have to pay interest under Section 234A and a penalty under Section 234F. ITR Due Date A.Y. 2023-24 (F.Y.2022-23) The following table … Read more

Tax Rebate Under Section 87A (A.Y.2023-24/A.Y.2024-25)

Updates Rebate 87A for AY 2024-25: The alternative tax regime increased the section 87A rebate from Rs. 5 Lakhs to Rs. 7 Lakhs. Under the New Tax Regime (for FY 2023-24/A.Y.2024-25), Rs 7 lakh in income is eligible for a tax rebate under section 87A. (Budget 2023). The rebate amount is Rs. 25,000 or 100% … Read more

New Income Tax Slab F.Y.2023-24 (A.Y.2024-25) – Budget 2023

Under the new income tax regime in Budget 2023, the basic exemption limit has been increased from Rs.2.5 lakh to Rs.3 lakh. There has been an increase in the income threshold for claiming a rebate under Section 87A; now it is Rs.7 lakh instead of Rs.5 lakh. For instance, an individual with an annual income of Rs.7 … Read more

Senior Citizen Savings Scheme 2023 – Updates After Budget 2023

Budget 2023 Updates: A maximum deposit of Rs 15 lakh has been increased to Rs 30 lakh for senior citizens saving schemes in Budget 2023. This increase in the deposit limit reflects the government’s commitment to providing greater financial security to the elderly population. Senior Citizen Savings Scheme: This is a program sponsored by the … Read more

GSTR 3B Changes from February 2023

GSTN will now automatically populate Table 4(A) of GSTR-3B with ITC (net of credit notes). Therefore, the Net ITC with amendments (Invoices + Debit Notes – Credit Notes) will be auto-populated in Table 4(A) Example:  Old GSTR 3B up to DEC 2022 New GSTR 3B from Feb 2023 (Jan 2023 Data) Purchase – 500000 ITC … Read more

Advance Tax Payment Due Dates *F.Y.2022-23 A.Y.2023-24*

Advance Tax Payment Due Dates FY 2022-23: Advance Tax is pre-paid tax by the assessee on the income earned during the year. In simple words, you can say that assessee has to pay taxes in advance on the estimated income during the year in instalments for the individual assessee, companies and corporate assesses. For example, … Read more

NSC – National Saving Certificates

National Saving Certificate is an investment option by which an individual can invest his income to get a fixed interest. You can reinvest the interest earned and get the benefit of 80C deduction under income tax. We will talk about here the complete detail of National Savings Certificate (NSC) VIII Issue like who can apply, … Read more

Over 2 lakhs Cash Transaction Limits – Section 269ST

Today in India, tax evasion had become a common pattern for many people. There are many things that adversely affect the total revenue earned by the government creating difficulty for various welfare programmes which would be set up by them. One of them is especially the huge amount of Domestic Black Money. This also creates meaningless … Read more

Tax Saving Schemes for A.Y.2023-24

Tax Savings is an effective measure to ensure that people save some of their tax liability in a legal way. There are many investment options which provide deductions to the assessee and some of them are listed below. Tax saving schemes are one of the parts of tax planning. Tax planning is legal and everyone … Read more

A Very Simple Guide to Form 12BB – Download Format PDF

A new form 12BB is introduced by the Central Board of Direct tax.  Form 12BB is applicable from June 1, 2016. Every employer and employee needs to know about form 12BB. The Form 12BB is for all salaried employees to claim tax deductions. Earlier there was no standard format for salaried employees in which they … Read more

How to View or Download Form 26AS on New Portal?

Form 26AS is a consolidated tax statement which has all tax-related information such as TDS, TCS Refund etc associated with a PAN. It is also called an annual statement. It shows how much of your tax is collected by the government. It is a consolidated statement from multiple sources like your salary/ pension/ interest income … Read more

Tax Benefits on Stamp Duty & Registration Charges of a Property

Stamp Duty and Registration Charges are the expenses which have to be paid while buying a house and get it transferred in your name. It is the tax that is paid on the market value of the house. The Stamp duty and registration charge is mandatory and is levied by the Government of India. The … Read more