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In today’s era, its not that we use software, its that we live in Software, then why not to use excellent softwares available to us. For easing the difficulties faced by professionals here are some of the software. That might be helpful for all of us in our work. 1. MS- Office Be it a professional […]
Read moreAfter the removal of the Dividend Distribution Tax (DDT), dividend income becomes taxable in the hands of investors, and tax deduction at source (TDS) becomes applicable on dividend payout u/s 194 of the Income Tax Act. Section 194 is applicable from 1st April 2020 i.e. FY 2020-21 onwards. If the investor’s PAN is available, 10% […]
Read moreBank fixed deposits (FDs) give interest that is entirely taxable. Taxpayers have made mistakes with the way they disclose interest income on many occasions, resulting in them receiving warnings from the Income tax department. Many taxpayers recently received notices from the Income tax department informing them the discrepancies between the FD interest income data held […]
Read moreIndividual taxpayers need to pay the tax on the basis of a slab system defined by Income Tax 1961, on the basis of the income earned by them in the previous year. Slab system means different tax rates prescribed for different ranges of income which are progressive in nature; it means the tax rates keep […]
Read moreThe new fiscal year, 2021-22, has begun. Several financial regulations have also been altered. In FY 2021-22, these developments are expected to have an effect on money and your wallet. The government has made the reforms in order to make life simpler for both the general public and taxpaying organisations. 1.The first year for the […]
Read moreAs much long lasted financial year 2020-2021 is near to end soon, everyone is getting themselves busy in financial year closing activities. But along with closing of books of accounts, there are some things to be taken care of for the purpose of reducing tax burden and that is nothing but the tax saving investments. […]
Read moreNew financial year comes with new changes or with modification in the existing provisions brought out through amendments. So instead of being out dated, let’s be updated with changes coming in GST and Income Tax regime with effect from 01.04.2021. Changes in GST from 01.04.2021 1. HSN/ SAC Code From 1st April 2021, it is going to […]
Read moreWithin a few days 31st March 2021 is arriving, with that many deadlines will be arriving under Income Tax and GST as well. It’s gonna be hectic for both the professionals and their clients to get things completed. Moreover, by keeping in mind the impact of Covid-19, few extensions were made in the date which […]
Read moreA woman, whether married or single, can save income tax in huge amount if she plans carefully. Many women are unaware of their rights and duties under the Income Tax Act, 1961 and are, therefore, unable to find legal ways to save Income tax by proper tax planning through multiple allowances, deductions, rebates, and reliefs. Some of the […]
Read moreCorporate Compliance Calendar For the Month of March , 2021 contains Compliance Requirement Under Income Tax Act, 1961, Goods & Services Tax Act, 2017 (GST) and Other Statutory Laws. Compliance requirement under Income Tax act, 1961 SN. Compliance Particulars Due Dates 1 Due date of depositing TDS/TCS liabilities for previous month. 07-03-2021 […]
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