E-way Bill New
E-Way Bill

E-Way Bill

The movement of goods from one state to another state or out of state need road permit for this purpose Electronic road permit is made through E-Way Bill. E-Way Bill is required by the seller and the buyer for movement of goods amounting to more than ₹50,000 in Intra and Inter supply ( ₹1,00,000 in…

Income Tax

Deductions U/S 80C to 80U (Chapter VIA)

Deductions are the claims which reduce taxable income. Less taxable income leads to lower payment of tax to government. There are certain relief in the form of deduction available to a taxpayer. But there are Section which define deduction criteria and amount of deduction. So let’s dive in details : It came into force with…

Income Tax

ITR FORMS ( ITR 1 – ITR 7)

Income Tax Return (ITR) is a form in which the taxpayers file in information about his Income earned and tax applicable to the income tax department. The department has notified 7 various forms – ITR 1 , ITR 2, ITR 3, ITR 4, ITR 5, ITR 6, ITR 7 till date. Every taxpayer should file…

Income Tax

Income Tax Due Dates Return

Due dates for ITR F.Y 2021-22 & A.Y 2022-23 Due dates for ITR F.Y 2021-22 & A.Y 2022-23 Manoj KumarMr. Manoj Kumar, a commerce graduate from University of Delhi & an exceptional mentors of computerized accounting learning, has an overall experience of near about half of decades in computerized accountancy. With his strong hold on…

GST

GST Returns Due Dates

Taxpayer which are registered under the goods and services tax (GST) Law must file GST return. Government clarified the deadline before which every taxpayer have to file their return with the prescribed details and if they failed to do so , Govt will impose penalties and late fees charges . Due dates are different for…

GSTR-3B
GST

GSTR-3B (What it is & how to file it )

MEANING GSTR-3B is a merged summary return of inward and outward supplies which every taxpayer must file monthly ( if opted for monthly return scheme) or quarterly ( if opted for quarterly return scheme). In this return Taxpayer have to submit the details of sales , purchase and tax paid to the government. Every that…

GST

An Insight to GSTR-2B

GSTR-2B is a statement that provides the details of ITC to the recipient of supplies (buyer). It is generated for every normal taxpayer on the basis of return filed by supplier. File GSTR 3B after GSTR-2B generation. Reason behind this is simple “to claim correct ITC available in GSTR-2B”. GSTR-2B is a static statement and…

GST

GST IFF return

Invoice Furnishing facility. A regular dealer who opt for the scheme of QRMP ( quarterly returns monthly payment ) have to file the “IFF” return. regular dealer who opted for monthly returns scheme need not to file this because they file GSTR-1. Due date for IFF is 13th of next month. IFF is filed for…