Irsad Shaikh & Associates

*5 LAC ANNUAL PREMIUM IN ACE* .... Let's look at how it can be customised to achieve your Life Goals 👑👍

✅ Pay Rs 5 lacs for 10 years # Income of *Rs 198170* from first year ( for 69 years) # Maturity Amount *Rs 5.69 Crore* # Tax - Free 🆓💰

✅ Pay Rs 5 lacs for 10 years # Deferment Period 2 Years # Income of *Rs 233890* from third year ( for 67 years) # Maturity Amount *Rs 5.28 Crore* # Tax - Free 🆓💰

✅ Pay Rs 5 lacs for 10 years # Deferment Period 5 Years # Income of *Rs 295792* from sixth year ( for 64 years) # Maturity Amount *Rs 6.01 Crore* # Tax - Free 🆓💰

A MUST HAVE SOLUTION IN YOUR PORTFOLIO 🪙📊📈👍

we are hiring ..............

Flow chart of capital gain or loss from shares trading

TDS on cash withdrawal from Bank

Hi, Friends we are come with a course for student.
Please share with interested student

Some important points to be considered before 31st March 2021

*💡Important Communication:* In our continuous endeavor to serve you better, the Ministry of Corporate Affairs is launching a new way of e-filing for LLP on MCA21 portal. All LLP filings going forward will be web based. This application is proposed to be launched on 06th Mar 2022 at 12:00 AM. To facilitate this implementation stakeholders are advised to plan as per the following:

*A.* LLP e-Filings on MCA21 portal will be disabled from 25th Feb 2022 12:00 AM. All stakeholders are advised to ensure that there are no SRNs in pending payment status.

*B.* Offline payments for LLP using Bank Challan and Pay later option would be stopped from 19th Feb 2022 12:00 AM. Please note that during 19th Feb 2022 12:00 AM to 25th Feb 2022 12:00 AM, payments for LLP will be accepted only through online mode (Credit/Debit Card and Net Banking).

*C.* *DSC association and new user registration on MCA21 portal will be stopped on 25th Feb 2022 12:00 AM. These services will resume in new application with LLP launch. d. Please note that there will not any interruption in filling of Company forms.*

Regards

Urgent opening for Account Assistant (only for Female candidate)
Post :- Account Assistant
Location :- Kalbadevi
Salary :- 7000 to 9000 per month
Job Timing :- 11am to 7pm
Contact :- 9819587894
Email ID :- [email protected]
(Please don’t call personally for any information regarding job or telling reference if you get selected employer will call for interview)

Tax on crypto currency

Filling of income tax return and it's consequences are explained below

IMPORTANT GST UPDATES APPLICABLE FROM 1ST JANUARY 2022

*1. NO ITC UNLESS REFLECTED IN GSTR 2A/2B*

Input Tax Credit shall not be available unless details of invoices uploaded by supplier in Form GSTR-1 are communicated to the recipient (i.e reflected in GSTR 2A/2B). Margin of 5% will no more be available.

*2. DIFFERENCE B/W GSTR -1 & 3B: DIRECT RECOVERY*

Section 75(12) is amended to provide that tax declared under GSTR-1 but not included in GSTR-3B, will be considered as “Self Assessed Tax” and hence, direct recovery of such tax under Section 79 will be possible even without issuing any Show Cause Notice.

*3. E-WAY BILL: 200% PENALTY TO RELEASE GOODS*

At present, full tax and 100% penalty is required to be paid to release the goods which are seized for violation of E-way Bill related provisions and for non-carrying of other documents under Section 129. Now, it is provided that goods will be released on payment of penalty equal to 200% of tax and tax will be recovered through separate proceedings.

*4. PROVISIONAL ATTACHMENT OF ASSETS OF BOGUS BILLING BENFICIARIES ALSO*

Not only supplier and recipients but assets of the beneficiaries of bogus billing can also be provisionally attached.

*5. SCOPE OF PROVISIONAL ATTACHMENT WIDENED*

Provisional attachment is made applicable in all cases of proceedings of Assessment, Inspection, Search, Seizure and Arrest or Demands and recovery. Now, provisional attachment of property, like bank accounts, can be done not only in the case of Show Cause Notices and investigation but also for other proceedings like Scrutiny of Returns and tax collected but not paid.

*6. 25% PRE-DEPOSIT FOR E-WAY BILL APPEALS*

For filing appeals, before first appellate authority against order for violation of E-way bill and other provisions, it will be mandatory to pay pre-deposit of amount equal to 25% of penalty imposed.

*7. E-WAY BILL CO-NOTICEE MAY NOT GET FREE BY PAYMENT OF 200% PENALTY BY MAIN NOTICEE*

Where proceedings against main person liable to pay tax have been concluded under Section 74, proceedings against co-noticee are also deemed to be concluded as provided under Explanation 1(ii) to Section 74. However, now, such benefit will not be available to co-noticee for proceedings initiated to impose penalties for violation of E-way u0906u092a.

Income Tax Slabs under the Old Tax Regime and New Tax Regime for Financial Year 2021-2022!

👉Join our page for latest updates of Taxation ( GST & INCOME TAX)

New Amendment in GST effective from 1.1 2022

List of income tax deduction allowable and maximum deduction limit in a financial year

File your return on time ⏲ this year with Irsad Shaikh & Associates

Irsad Shaikh & Associates updated their website address.

Today Income Tax Department has announced roll-out of a new statement - *AIS (Annual Information Statement).*

This will give you all details (well almost all!) about YOUR financial transactions during the year.

*What is AIS (Annual Information Statement)?*

You know earlier Income Tax used to give statement 26AS.

AIS is a much detailed one - with many more details included - like your Savings Interest, all Mutual Fund transactions during the year etc.

*Will 26AS be stopped?*

a) Now you can get both 26AS and also AIS.
b) Both put together, Income Tax department knows all your financial transactions.
c) You will find it very easy to know and submit details for your Income Tax returns.

*How to access my AIS?*

a) Log in to your Income Tax account at http://incometax.gov.in
b) Go to Services Tab
c) Last option in this tab is the AIS option.

It will open a new tab with below two options:

a) Left side - Tax Information Summary (TIS)
b) Right side - AIS

Both are the same. TIS is a summary and AIS is the detailed statement. You can download both. When you download you get a pdf statement (There is jpeg option also, but let's stick to PDF now).

PDF will be password protected.

Password is ur PAN Number (in CAPITAL) + Date of Birth (DDMMYYYY)

AIS will capture all financial transactions of the previous year.
a) Stocks
b) Insurance
c) Credit Cards
d) Purchase of property
e) Mutual Funds
f) Salary or Business income
g) Dividends
h) Interest on SB A/c and Deposits.

The above list is just indicative. It is your overall financial profile and will getting fine-tuned to include more categories

Rules related to transaction where PAN card number is compulsory to be mentioned from 1.10.21

Rules which start from 1.10.21

In the light of various difficulties as reported by tax payers and other stake holders, *CBDT has further granted an extension of 3 months in due dates for filing the Income Tax Returns* and various reports for AY 2021-22.
Extended due dates range between December 31st 2021 to February 28th 2022.
*However, interest U/s 234A shall apply*

1. Non-Audit tax returns - Extended to *December 31, 2021*
2. Tax Audit reports - Extended to *January 15, 2022*
3. Transfer Pricing Study Report - Extended to *January 31, 2022*
4. ITR of Tax audit cases - Extended to *February 15, 2022*
5. ITR where TP is applicable - Extended to *February 28, 2022*
6. Belated ITRs - Extended to *March 31, 2022* from December 31, 2021.

*Irsad Shaikh & Associates*
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Tax Consultant & Govt Certified GST Practitioner

We are located in Kanjurmarg (West), Mumbai and We provide services as following:-
* Income Tax Return filling.
* GST Registration.
* GST Return and Compliance work including matching inputs and GST Annual Return etc.
*All type of Accounting and Book keeping compliances work from data entry to generation of final account reports.

We not only provide compliances service but own responsibility of work.

For more details contact us on:-
Contact: 98195 87894/ 98195 87884
http://www.isassociates.in

IRSAD SHAIKH & ASSOCIATES – Tax Consultant & GST Practitioner “The budget has proposed the insertion of new Sections 206AB and 206CCA in the Income Tax Act as a special provision for the deduction of higher rates of TDS and TCS, respectively for the non-filers of an income tax return.”

Latest development in IT assessment

*Reminder for GST Returns*

Monthly GSTR-1of June is due by 11th July.

Quarterly GSTR-1 for April to June is due by 13th of July

*Irsad Shaikh & Associates*