How GST effect you on day to day life?

Views: 154 You need be a tax expert to know basics of GST. In fact you are duty bound as business owners, executives, accountants etc. to know the basics of GST because GST affect you on a day to day basis. Some highlights of those...

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Is Standard Deduction eligible from Pension Income?

Views: 226   Earlier, there was a confusion among the pensioners whose source of income is pension that whether a taxpayer, who receives pension from his former employer, shall be eligible to claim Standard deduction. That confusion has been removed by the Central Board of...

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New ITR Form 1 to 7 for Assessment year 2018-19 notifies by CBDT

Views: 445 For Assessment Year 2017-18, a one page simplified ITR Form-1(Sahaj) was notified. This initiative benefited around 3 crore taxpayers, who have filed their return in this simplified Form. For Assessment Year 2018-19,The Central Board of Direct Taxes(CBDT) has notified Income Tax Return Forms (ITR...

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Resent Changes in NPS norms made by Gov

Views: 179 National Pension Scheme (NPS), a government-sponsored pension scheme, was launched in January 2004 for government employees. It was opened to all sections in 2009. A subscriber can contribute regularly in a pension account during her working life, withdraw a part of the corpus...

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A brief extract of 26th Meeting of GST Council held at New Delhi

Views: 716 26th Meeting of GST Council headed by Finance Minister Mr. Arun Jaitley being held on 10th of March, 2018 at New Delhi. The GST council has decided following main points during the meeting. Reverse Charge Mechanism: In the 26th Meeting of GST, Council...

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Amendment in section 139A of the IT Act relating to PAN?

Views: 972 In Finance Bill 2018, following amendment is proposed relating to PAN is compulsory in certain cases: Clause 42 of the Bill seeks to amend section 139A of the Income-tax Act relating to permanent account number. Sub-section (1) of the said section, inter alia,...

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Certain Services covered under GST : CBEC Clarification

New Development in CGST

Views: 226 Clarifications issued by CBEC regarding whether GST is application or not on certain services Whether activity of bus body building, is a supply of goods or services? CBEC Clarification: In the case of bus body building there is supply of goods and services....

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Arrest under GST Law : Two Mumbai base businessmen

Views: 261 First arrest under GST law by Commissioner (CGST) : Two Businessmen arrested by Officers of CGST in Mumbai for  availing ineligible credit on fictitious tax invoices Officers of CGST Mumbai have arrested two businessmen for creating fictitious invoices and availing ineligible credit. The...

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User friendly filing of GSTR-3B : GSTN

Views: 220 Guidelines issued by GSTN for User friendly filing of GSTR-3B: a) While proceeding to payment you can see details of balances as available in cash and credit ledgers at one place. Tax liabilities as declared in GSTR 3B along with the credits gets updated...

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Salient Features:The Banning of Unregulated Deposit Schemes Bill, 2018

Views: 147 The Banning of Unregulated Deposit Schemes Bill, 2018 : The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given approval to introduce the banning of Unregulated Deposit Schemes Bill, 2018 in Parliament. Salient Features of the Banning of Unregulated Deposit...

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