[ratings] Following are the Specific cases that are mentioned under GST on which no input tax credit shall be available to the applicant. 1. Motor vehicles, vessels, and aircraft No ITC available for Motor vehicles used to transport of persons, having a seating capacity of less than or equal to 12 persons excluding the driver […]

GSRT-9 is Annual Return required to be filed after the end of the Financial YearHere we provide the details of all supplies made (i.e. Sales) and

[ratings] The concept of Leave Encashment Calculation Method Taxation of Leave Encashment Leave encashment during the employment Leave encashment on Death At the time of Retirement Example 1. The concept of Leave Encashment Every salaried employee as per labor law is eligible to avail some Earned leaves during his/her working period and If he/she takes

GST Council has approved the transition plan for the implementation of the new tax structure for housing units. GST rates for new projects will be mandatory from April 1. Builders of existing housing projects that are completing construction by 31st March 2019 get to choose either of the two alternatives: Alternative 1: Choose the old rate

With the following methods you can check your EPF Balance almost quickly: You should register and activate your UAN and your Mobile number should be updated in EPF account. 1. EPF Missed call to 011-22901406 Give a missed call to 011-22901406 from your registered mobile number and within a minutes you will get SMS with

Section 87A of the Indian Income Tax Act is one helpful provision in our tax laws to reduce your tax liability of person. Rebate under section 87A provides for a marginally lower payment of taxes to individuals earning an income below the specified limit. It is provided to reduce the tax burden of the lower income bracket.

1. Rebate u/s 87A Increased to ₹12,500:Finance Minister in his speech announced that people with taxable income of ₹5,00,000 would get a full tax rebate. Many of us thought, he has changed the tax slab. But actually, he made changes in Section 87A.From FY 2019-20, for individuals with taxable income of ₹5,00,000 or less, the tax rebate would be Person’s tax liability or

1. Section 80C/80CCC/80CCDYou can choose from the following for tax saving investments:Employee/ Voluntary Provident Fund (EPF/VPF)PPF (Public Provident fund)Sukanya Samriddhi AccountNational Saving Certificate (NSC)Senior Citizen’s Saving Scheme (SCSS)5 years Tax Saving Fixed Deposit in banks/post officesLife Insurance Premium

Section 80C provides deduction up to ₹ 1,50,000 from your total income. One can reduce up to ₹ 1,50,000 from your total taxable income via section 80C. Deductions are allowed to an Individual or a HUF.