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 […]
Concept of Deemed Sales and GST Clause 29A of Article 366 of the Constitution of India, inserted by 46th amendment to the Constitution gains very much importance as the same lays down the concept of Deemed sale and enables the states to tax certain transactions. This was important as taxes were levied either on “Sale […]
Government has simplifies ITR forms to be less painful to Filing tax returns Income tax form for salaried person will be introduced from April 1, doing away with some columns to simplify the filing of returns. Individuals with salary and interest income will have to fill fewer columns as some of these for claiming income […]
Ten most important changes in Income tax which will apply from 1st April 2017 With the passage of the Finance Bill on Wednesday, the Lok Sabha has completed the budgetary exercise for 2017-18. The Income tax proposals in the Budget 2017 have now become law.