Input Tax Credit – Meaning, Eligibility and how to claim ITC
Input tax credit under GST Hello, this post we will cover the basic concepts of ITC such as meaning, eligibility and the conditions to claim input tax credit under GST. The topics which we cover are: Introduction to ITC How to
TDS Challan ITNS 281 and consequences in case of delay
TDS Challan 281 is used for depositing TDS and TCS with the Income Tax Department. This post covers its purpose, filing process (online and offline), due dates, penalties for late payment, and how to track challan status online.
ITC on goods that are received in lots/installments – With examples
A simple explaination of ITC on goods received in lots Hello. In this blog, we will be discussing about the treatment of ITC on goods that are received in lots/ installments and whether credit can be claimed on such installments. Question: What is
Old vs new income tax regime: Benefits & Rates
Old VS New Income Tax regime - Which one will you opt? In this post, we will discuss the difference between the Old vs New Income tax regime. The Finance Budget 2020 had proposed a new alternate income tax structure for
Job work under GST – Form GST ITC-04
A complete guide on Job work under GST Hello, in this post we will give you a detailed understanding of Job work under GST - Form GST ITC-04. Where we will take a close look at each section in detail: What
Tax benefits under NPS
Things you need to know about National Pension Scheme and its taxability In this post, we'll talk about the National Pension Scheme (NPS), including its taxability, benefits under NPS and other important points. Where we will take a close look at
All about form 15cc – prerequisites, usage, purpose, and submission
Overview of form 15CC In this post, we'll talk about Form 15cc, including its Prerequisites for availing this service, its purpose and how to access and submit the form. We will take a close look at each section in detail:Prerequisites for
Registration under GST – Important points to be considered
A brief guide to registration under GST Hello, in this post, we will discuss registration under GST. We will see who is liable and not liable for registration, the essential documents and important points to consider. In addition, we discuss about
7 major changes in income tax rules effective from April 1, 2022
Important changes in income tax rules In this post, we'll talk about the 7 important changes in income tax rules effective from April 1, 2022. In that, we will discuss the following changes in detail: Crypto tax IT Return: Filing an
Step-by-step process to verify lower deduction certificate
Lower Deduction Certificate Verification Procedures Using TRACES Hello, in this post we will discuss the steps for lower deduction certificate verification through the TRACES portal. Lower Deduction / No deduction certificate is provided by the Income Tax Assessing officer to the deductor
