Error rectification in GSTR1 September return – Critical compliance for 2017-18

Error rectification in GSTR1 September return – Critical compliance for 2017-18 It has been a year since the rollout of GST in India. Time has come for taking stock of transaction undertaken during the period July 2017 to March 2018 and take corrective action for mistakes/omissions in GSTR1 that may have crept during the said […]

Tax Benefits related to rent paid,PPF and National Pension System

Tax Benefits related to rent paid,PPF and National Pension System Tax benefits in respect of rent paid Section 10(13A) of the Income Tax Act provides for Tax Benefits to a salaried person in respect of rent paid for a rented accommodation occupied by him if he is in receipt of House Rent Allowance (HRA) called […]

CBSE exams of Classes 10 and 12 to be held in 2019

CBSE exams of Classes 10 and 12 to be held in 2019 CBSE has decided to hold exams for Skill Education (Vocational) and related subjects in second half of February for the ensuing CBSE exams of Classes 10 and 12 to be held in 2019. However, examinations for all the Core Academic subjects, such as […]

Taxability of Co Op Housing Society Income

Taxability of Co Op Housing Society Income Most of the People seen Taxability of Housing Society to be Nil.Which isn’t valid. By and large salary of Co-agent Housing Societies (CHS) does not fall under expense risk, but rather any pay which is business in nature should be accounted for and suitable come back with PAN […]

Simplified Returns under GST – Key Features

Simplified Returns under GST – Key Features The GST Council in its 28th GST Council Meeting held on July 21, 2018 under the Chairmanship of Shri Piyush Goyal, Union Minister for Railways, Coal, Finance & Corporate Affairs has approved the new return formats. The Council had earlier approved the basic principles of GST return design […]

GST taxpayers look forward to simplified filing forms – 36 returns to 12

GST taxpayers look forward to simplified filing forms – 36 returns to 12 In the 27th GST council meeting, one of the most notable announcement was that the government was considering a simplified return filing system, where input credit would be system driven. This system will be implemented gradually after trial, allowing sufficient time for […]