70% of all goods and some consumer durables to become cheaper under proposed GST regime A number of goods such as cosmetics, shaving creams, shampoo, toothpaste,soap, plastics, paints and some consumer durables could become cheaper under the proposed goods and services tax GST regime as most items are likely to be subject to the rate of […]
Fake rent receipt won’t help you lower tax burden anymore For as long as anyone can remember, producing of Fake rent receipt, often from parents and relatives, has been an easy way to lower tax burden. Such cavalier disregard for tax rule was overlooked by most employers as well as taxman, who possibly felt it […]
Due to GST – What will cost more and what will be cheaper here’s the list ! With the passage of the GST Bills in the Lok Sabha last week, India’s biggest tax reform Goods & Services Tax (GST), is all set to see the light of day soon. Touted as a reform which would […]
Pay more under GST if Planning to buy a phone in exchange offer ! Exchange offers may stress your pockets of an individual buyer, going by the draft rules for valuation of supply under GST. This tax is triggered on supply of goods or services.
How to handle TDS on sale of property The challan (Form 26QB) must be filed within 7 days from the month in which the TDS was deducted by the buyer. Since June 2013, it has been mandatory for buyers of immovable property to deduct TDS on sale of property from the amount to be paid […]