Importance of Responding to DRC-07 GST Notice Introduction Have you ever received a notice from the tax authorities about your Goods and Services Tax (GST) filings? It can be a bit nerve-wracking, right? But fret not, because in this article, we’re going to delve into the significance of responding to a DRC-07 GST notice. So, […]
Importance of of Timely Response to DRC-07 GST Notice Read More »
GST Annual return Due date Extention for the year 2022-23 The due date for filing GSTR-9 (Annual Return) and GSTR-9C (Reconciliation Statement) for FY 2022-23 extended till January 10, 2024 in respect of GST Registered persons having Principal place of business in the Districts of Chennai, Tiruvallur, Chengalpattu, Kanchipuram, Tirunelveli, Tenkasi, Kanyakumari , Thoothukudi &
GST Annual return Due date Extention for the year 2022-23 Read More »
Double Taxation Avoidance Agreement (DTAA) in India In the complex world of international taxation, Double Taxation Avoidance Agreements (DTAAs) are a boon for individuals and businesses. These agreements are designed to prevent double taxation, ensuring that income is not taxed in both the home country and the foreign country. India, a hub for international trade
Demystifying Double Taxation Avoidance Agreement (DTAA) in India Read More »
Points to Remember While Claiming Mediclaim Deduction under Section 80D When it comes to tax planning, it is essential to take advantage of the various deductions and exemptions provided by the government. One such deduction that can significantly reduce your tax liability is the Mediclaim deduction under Section 80D of the Income Tax Act. This
Points to Remember While Claiming Mediclaim Deduction under Section 80D Read More »
Understanding GST on Reverse Charge Mechanism (RCM) for Security Services The implementation of the Goods and Services Tax (GST) in India brought significant changes to the taxation system. One such change is the Reverse Charge Mechanism (RCM), which shifts the responsibility of tax payment from the supplier to the recipient. In this article, we will
Project Report Preparation for Bank Finance In today’s competitive business environment, obtaining financial support from banks for projects is a common practice. However, banks require thorough evaluation and assessment of the project’s feasibility and profitability before approving loans. This is where a well-prepared project report plays a vital role. In this article, we will delve
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Advance Tax 1st Instalment Due on June 2023: Importance and Consequences Advance tax is a key aspect of income tax in India, requiring taxpayers to pay estimated tax liability in installments. The first instalment for the financial year 2023-24 is due in June 2023. Non-payment has significant repercussions. Let’s explore the importance of timely payment
Advance Tax 1st Instalment Due on June 2023: Importance and Consequences Read More »
10 Crucial Guidelines for Accurate Tax Filing Filing taxes can be an intimidating task, and even a small error can have significant repercussions. As an esteemed CA firm in India, we understand the importance of precise tax filing and its impact on financial matters. In this blog post, we will present you with ten essential
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HRA Exemption: A Comprehensive Guide to Understanding and Maximizing Your HRA Benefits Introduction When it comes to managing your finances, it’s essential to take advantage of all the tax-saving opportunities available. One such benefit is the House Rent Allowance (HRA) exemption, which can significantly reduce your taxable income if you are a salaried individual. In
In case of Individuals, Income-tax returns has to be filed mandatorily even if income is below taxable limits, in respect of few specified situations. Those specified situations are :- Payment of Electricity bill Exceeding Rs. 1 Lakh. Expenditure for Foreign Travel exceeding Rs. 2 lakhs. Deposit in Current account exceeding Rs 1 Crore The Income-tax
New Income-tax Notification for Return filing Read More »
Payment of Income-tax as Advance tax is an obligation to be met by the Tax payers. Are you liable to pay Advance tax? Are there any exemptions? When should these advance tax payments be made? Find answers for all your queries here. Read on…. When does the question of Advance tax arise? If your total
Are you liable to pay Advance Tax? Check this out…. Read More »
Payment of Income-tax as Advance tax is an obligation to be met by the Tax payers. Are you liable to pay Advance tax? Are there any exemptions? When should these advance tax payments be made? Find answers for all your queries here. Read on…. When does the question of Advance tax arise? If your total
Are you liable to pay Advance Tax? Check this out…. Read More »
As per provisions of Income-tax Act,1961 every assessee shall file his return of Income on or before the due dates for filing the returns. The deadline for filing Income-tax returns for the Financial year 2020-21 (Assessment Year 2021-22) is as follows :- Type of the Assessee Due date for filing Assessees whose accounts are not
Filing your income taxes on time can actually help you save money. Find out how.. Read More »
As per the existing guidelines , Retail and Wholesale trade is out of the ambit of MSME. The trade has been requesting the Government of India to include Retail & Wholesale Trade also within the ambit of MSME there by the benefits of MSME will reach these type of businesses also. With the revised guidelines,
Retail & Wholesale Trade is now MSME Read More »
