Income Tax Form 16 is the tax deduction at the source instrument issued by the employer in the employee’s stead. It provides details of TCS/ TDS for several deals between deductors and also deductees. Still, your tax is likely to get deducted at multiple places, If you have switched jobs or worked with numerous employers …
What is Form 16? type, eligibility & benefits oF form 16? Read More »
The payroll network developed due to business possessors recognizing the need to track purchases, sales, and all business finances to run a successful business. As an intelligent business-minded person, you formerly know how important that is. Keeping track of these funds may be time-consuming and frustrating for a firm of any size. Since payroll robotization …
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The implementation of the e-way bill system has been a game-changer in the logistics and transportation industry in India. It is an electronic document that is generated online for the movement of goods worth more than Rs. 50,000. The e-way bill required for the transportation of goods, and it contains details such as the invoice …
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Small and medium enterprises( SMEs) noway find it easy to run their business operations. For them, it becomes a bit daunting to handle the front-office and back-office operations efficiently simultaneously, with their workers sharing multiple roles due to the limited resources. In such a script, automating tasks with the use of business tools help them …
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Every registered dealer needs to file GST returns for a specified period. However, the dealer has to file Nil Return, If there’s no business activity. You can file returns through online mode. You can also create and upload offline. The theE-Return is also common for CGST, SGST, IGST, and other additional levies. Normal/ Regular taxpayers( including …
Input duty credit in GST, As defined by section 2( 57) of the MGL( Model GST Law) and section 2( 1)( d) of the IGST Act, Input duty is related to a taxable entity which means the( IGST and CGST) in respect of CGST Act and( IGST and SGST) in respect of SGST Act is …
All persons with taxable income must file a tax return each fiscal year. After filing the tax return, the income tax department would reuse the return and check for any errors. However, a summary assessment under Section 143( 1) can be completed without calling the assessee, If the errors in an income levy notice are …
In light of the recent shock of demonetization, the Indian government’s drive to move India into a more digital, more compliant, and latterly a more vibrant economy was clear from the budget. With MSMEs being hit the hardest with demonetization – the budget announced on Feb 1st laid out some good impulses to encourage growth …
What’s Msme, Its Importance, Advantages & Scheme? Read More »
In this scheme, the employer has to contribute 4 of the total monthly salary which is payable to the employees. On the other hand, every month the employee has to contribute 1 of their monthly salary per year. The exemption of the contribution is given to those people who have a salary of Smaller than …
ESIC Registrations, Benefits, Process & Documents Required For Esic Enrollment? Read More »
On the 18th of June, 2017, the GST Council in its 17th meeting decided to extend the timeline for invoice–wise return documents in Form GSTR-1 and Form GSTR-2 for the first two months of the GST period. The move was made to give relief to businesses, and to smoothen the roll-out of GST across the …
What is GSTR-3B? Know the penalty for not filing GST R3B? Read More »
