There are various provisions of Tax Deduction at Source (TDS) with different thresholds and multiple rates between 0.1%, 1%, 2%, 5%, 10%, 20%, 30% and above. To improve ease of doing business and better compliance by taxpayers, the TDS rates are proposed to be reduced. However, no change would occur with respect to sections such […]
Among several benefits employees can get from their employers, RSU is one of them. RSU full form is Restricted Stock Units. A good reward from their employer not only boosts an employee’s morale but also encourages them to work harder. To know in-depth details of these reserved stock units and how they can benefit you,
What Is RSU, Full Form, Meaning, Taxation in India And How Do Taxes Work With RSUs? Read More »
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The new GST Return Form GSTR-1A will soon be available on the GST portal. This form allows taxpayers to make changes, corrections, and amendments to the data filled in GSTR-1 for the same month before filing GSTR-3B of that month or quarter. This new form has been notified through an amendment in Rule 59, which
Introducing GSTR-1A: Everything You Need to Know About the New GSTR-1A Read More »
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Income Tax Return filing is a one-time exercise every year for all persons earning income above the basic exemption limit. After filing ITR you may take sigh of relief but the tax payer’s task never ends here, they should keep an eye on each email they will receive after ITR filing the registered email id
Did you receive Defective Return Notice u/s 139(9): Know How to Correct it Read More »
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A person or an employer covered under The Karnataka Tax on Professions, Trades, Callings and Employments Act,1976 is liable to pay a monthly tax of Rs.200/employee and there is a designated website for these payments to be made. However, earlier things were a bit complicated and the process of filing Professional Tax each month was
Professional Tax Karnataka: Process made easier Read More »
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What is UPI: Unified Payments Interface (UPI) is an instant payment system developed by the National Payments Corporation of India (NPCI), an RBI regulated entity. UPI is built over the IMPS infrastructure and allows you to instantly transfer money between any two parties’ bank accounts. UPI transfer limit per day: The UPI transaction limit per
Using UPI? UPI Transaction limit as per Income Tax & GST 2024 Read More »
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Section 80G of the Income Tax Act, 1961 is a provision that allows individuals and organizations to claim deductions on donations made to certain charitable institutions or funds. It encourages individuals to contribute to social causes and provides tax benefits for such contributions. Here are some key points about Section 80G: It’s important to note
Section 80G – Deduction for Donation to charitable institutions Read More »
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Goods and Services Tax, people are becoming aware and more familiar with this these days. GST registration is necessary if the turnover exceeds the prescribed threshold or the proprietorship firm engages in interstate sales or e-commerce or wants to claim the input tax credit. However, any business entity can obtain a GST registration also on voluntary
Consent Letter for GST Registration: A brief description and requirements Read More »
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Government of Karnataka(Department of Commercial Taxes) No: KGST/CR.136/2021-22
Increase in tax rate from 12% to 18% on government contract works Read More »
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The NGO Darpan is a portal that acts as an interface between Non-Governmental Organizations (NGOs) and government departments. It is an initiative started by the National Informatics Centre and NITI Aayog. It facilitates an interchange of information between NGOs, Voluntary Organizations (VOs) and government departments, ministries and bodies. When NGOs complete the Darpan registration, it
NGO Darpan: Registration Procedure, Document Required, Benefits Read More »
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