GST is expected to boost competitiveness and overall performance in India’s manufacturing region. Declining exports and excessive infrastructure spending are just a number of the worries of this zone. Multiple indirect taxes have also increased the executive charges for manufacturers and vendors and it is being hoped that with GST in place, the compliance burden will ease and this region will develop extra strongly. Read More : https://123gst.com
How much I have to pay as a premium under health insurance scheme to avail benefit under section 80D. Since the facilities under section 80C was exhausted. Whether the entire premium will be shown for exemption under sec 80D ?
I want to transfer Rs 25,000/- from my axis bank NRO account to my NRE account held at the same branch.My question is 1) Do i need to fill form 15 CA and 15 CB. The bank has requested both forms.Can I just submit a declaration from AXIS bank?Thanks
I withdrew my EPF in last FY year and had less than 5 years of service. hence, the EPF withdrawal is taxable. However, I have the following questions:
1) I never took 80C deduction from EPF in my last year return as it used to be mainly covered by PPF and LIC payment. So, is employee contribution taxable? If no, then where am i supposed to declare the employee contribution portion?
2) I think Employer contribution and interest on employer contribution is taxable and should be shown as salary income. If yes should I show the TAN of previous employer or TAN of EPFO in Schedule S of ITR-2
3) I also withdrew EPS (employee pension service) money and the EPFO didn’t decuct any TDS on that. Is that taxable or non-taxable. If taxable, then under which head.
I made advance tax payment on income tax official website for the assessment year 2017-2018, and I got the confirmation receipt for the same. But the same is not reflecting in form 26AS. Could anyone please help me figure out what should be done now?
I am a Senior Citizen and my annual income is slightly more than Rs. 200,000 p.a and that is mostly from interest and therefore I submit Form 15H to the bank for non deduction of tax from source. Now at the time of submission of return ITR 1 how shall I get Sch TDS 2 form. Please guide. Is is mandatory to submit Return. Please guide. Tapas Dutta
Under section 64(1)(iv) of IT act, the first income from an asset transferred to his spouse without adequate consideration is clubbed with the income of Transferor. The statement is “only the first income would be clubbed & not the subsequent incomes”. What does this statement means. The doubt is ‘whether the first income derived from the transferred asset in the year of transfer is clubbed OR first income derived in every subsequent years are also clubbed.’Pl.explain & clarify.
my monthly income is 100000 and total annual income is 1200000 which comes under 194J section and they debit 10% TDS. As per income tax slab i come under 30 % according to total income of 12 lakhs. please clarify that should i pay tax as per 30 % slab or no extra tax will be paid as i come under 194 J section for professional fees while filing the returns