Jha Mishra & CO, darbhanga

Waiver of GSTR-1 late fee for the period January 2020 to June 2020. Waiver of GSTR-1 late fee for the period from January 2020 to June 2020 if return was late but furnished before the specified dates. Read Notification

GST Taxpayers allowed to file GSTR-3B Returns in Staggered Manner GST Taxpayers allowed file GSTR-3B Returns in Staggered Manner due to difficulties faced. Last date for 22 States/UTs is 24th and for 15 States/UTs is 22nd

Condonation of delay in filing Form No. 10B for AY 2018-19 onwards Condonation of delay u/s 119(2)(b) in filing of Form No. 10B for AY 2018-19 & subsequent years where Audit Report obtained before filing ITR/other cases

Increase in GST threshold to 40 lakh to take affect from 01.01.2020 Increase in GST threshold turnover from 20 lakh to 40 lakh for suppliers to take affect from 01.01.2020 where recommended. Read Notification

Threshold for TDS on cash withdrawals to be calculated from 01.04.2019 Threshold for TDS on cash withdrawals u/s 194N to be calculated from 1st April, 2019-Clarification. TDS to apply if 1 crore withdrawn upto 31st August, 2019

Tax dept to share ITR data with GSTN to detect tax evasion by business persons Before GST was introduced, the department could not reconcile the data filed by the business persons in his/her sales tax return/service tax return and ITR.

CBDT relaxes time-frame for processing refund of ITRs up to AY 2017-18 CBDT relaxes time-frame u/s 143(1) for processing of refund claims of all validly filed returns up to assessment year 2017-18 CBDT Order u/s 119

CGST Act not empower Govt. to frame rule providing lapse of ITC - HC CGST Act not empower Govt. to frame rule providing lapse of ITC. Notification 20/2018 /Circular 56/30/2018 quashed & declared ultra vires to that extent

Tax-saving through NPS: Income tax benefits explained in 10 points NPS investment: Income tax benefit under 80CCD (1B) and 80CCD (2) is over and above ₹1.5 lakh limit under Section 80C.

BE CAREFUL : 4 MISTAKES IN INCOME TAX RETURN FILING Balwant Jain Majority of the salaried taxpayers do file their ITR by themselves and thus are bound to commit some mistakes due to ign...

Late Fee Rs 5000 notified for filing e-Form DIR-3 KYC / DIR-3 KYC-WEB Late Fee notified for filing e-Form DIR-3 KYC or DIR-3 KYC-WEB under rule 12A of the Companies (Appointment and Qualification of Directors) Rules, 2014

Cash withdrawal from multiple accounts to be aggregated for levying 2% TDS The amendment, along with 28 others, were approved by a voice vote by the Lok Sabha, which passed the Finance Bill 2019.

If you miss to file return by due date, you will be penalised, even get jailed If you miss to file the return by the due date, you will be penalised and can even get jailed.If you fail to file the tax return within the stipulated due date, you can still file a belated return any time during the current assessment year (AY) 2019-20

Section 54F exemption not require land must be owned by assessee. Section 54F exemption not require land on which construction of property is made must be owned by the assessee. Land & super structure are different assets

CBIC issues Clarifications on filing GST Annual Return (FORM GSTR-9) CBIC issues Clarifications on filing of Annual Return FORM GSTR-9 on common problems faced by taxpayers on auto-population, ITC, declaring a supply etc.

INCOME TAX ON MATURITY AMOUNT OF LIFE INSURANCE POLICY There is a lot of confusion among the Taxpayers and tax professionals regarding taxability of the Maturity amount received from Life insur...

Income Tax Department to share ITR information with GSTN Income Tax Department to share ITR information/data with GSTN-What Type of data to be shared. CBDT Order U/s 138(1)(a) of the Income Tax Act, 1961

Due date of filing GSTR-3B for March 2019 extended to 23rd April 2019 Due date of filing GSTR-3B for the tax period March, 2019 has been extended to 23rd April, 2019.. CBIC to issue Notification accordingly

Composition Scheme Under GST Composition scheme under GST is an alternative method of levying tax meant for small taxpayers with low turnover

Summary of GST circulars, notifications & council decisions of Feb’19 The objective of this document is to summarize all.... Click here to view the full Article

Key Interpretation on: "No Income Tax upto 5 Lakh" Key Interpretation on: "No Income Tax upto 5 Lakh" . 📣 *Wrong perception about NO Income Tax upto Rs 5 lakh to all tax payer, Income ...

Major Decisions taken by the GST Council in its 32nd Meeting Major Decisions taken by the GST Council in its 32nd Meeting. Composition Scheme, one Annual Return, Higher Exemption, Free Accounting and Billing Software

No TDS for Senior Citizens for interest not exceeding Rs 50000 - CBDT No TDS u/s 194A for Senior Citizens where aggregate amounts of interest during financial year does not exceed Rs. fifty thousand - CBDT Notification 06/2018

GST ANNUAL RETURN-FREQUENTLY ASKED QUESTIONS | SIMPLE TAX INDIA Q1. What is Legal provision for filling GST Annual Return? Ans. Legal requirement of filing Annual return hereafter called GSTR-9 is...

Last date for ITC on invoices/debit notes for period July 2017-March 2018 Last date for availing ITC on invoices or debit notes for period from July, 2017 to March, 2018. Financince Ministry clarifies misgiving

An insight into the GST Amendments Acts, 2018 | SIMPLE TAX INDIA On August 29, 2018 the GST Amendment Bill, 2018 receives the assent of President of India. The Bill provides for more than 40 amendments t...

clarification on GST rates on eleven items- Circular No.52/26/2018 Clarification regarding applicability of GST rates on various goods and services on 11 items for which representations received Circular No.52/26/2018-GST

DUE DATE TO FILE INCOME TAX RETURN EXTENDED | SIMPLE TAX INDIA Ministry of Finance has issued a press release according to which due date for filing of Income tax return has been extended from 31.07.20...

Jha Mishra & CO, darbhanga updated their phone number.

Jha Mishra & CO, darbhanga updated their address.

We need article assistant/paid assistant at our head office. Contact 9709728280.

Branch inauguration at Sitamarhi bihar

Application for registration u/s 12A to be made electronically Application for registration u/s 12A to be made electronically by charitable or religious trusts. More information required in revised Form 10A

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LIFE INSURANCE PREMIUM DEDUCTION U/S 80C | SIMPLE TAX INDIA There is General Perception to taxpayers that All premiums paid for Life Insurance is eligible for deduction under 80C subject to overall...