Tax Amendments

MCA Extented the date of filing AOC-4, AOC (CFS) AOC-4 XBRL upto 30.11.2019 and e-form MGT-7 upto 31.12.2019, in order to give relief to the companies. No additional fees is required to pay to file these form upto such dates by companies. As Tax audit date is extended by the Income Tax Department upto 31.10.2019, So to give relief to the companies to file their annual return to MCA, due date of these forms is extended. Find the detail notification by MCA here - http://www.mca.gov.in/Ministry/pdf/GeneralCircular_29102019.pdf

     How to save tax on saving income for the F.Y. 2019-20 Government collects taxes in order to run different projects in different fields such as health, education and infrastructure. The minimum threshold limit for F.Y. 2019-20 as per the financial budget is as below: - AGE LIMIT (As individual or Karta of HUF) INCOME THRESHOLD Up to 60 years INR 2,50,000 From 60 to 79 Years INR 3,00,000 80 Years or more INR 5,00,000 It is mandatory for an individual to file return if the income of a financial year increased this threshold. The department provides various deductions under different sections to the assessee’s, who are filing return before the due date. Let’s talk about deduction and exemptions from saving interest income. 1.    Section 80TTA – This section provides the deduction of saving interest up to a maximum limit of Rs. 10,000. This deduct...

      GST RETURN DUE DATES OCTOBER, 2019 Filing of GSTR Returns on time is important to avoid penalty, interest, and claim ITC (Input Tax Credit). The table of October, 2019 is as below : - IMPORTANT GST RETURN DUE DATES GSTR 1 up to INR 1.5 Crore GSTR 1 More Than INR 1.5 Cr. Period (Quarterly) Last Dates Period (Monthly) Last Dates July-September 2019 31 st Oct, 2019 Sept.,2019 11 th Oct., 2019 GSTR 3B FORM GSTR 4 (CMP-08) Quarterly Period (Monthly) Due Dates Period (Monthly) Due Dates Sept.,2019 20 th Oct., 2019 July-September 2019 18 th Oct., 2019 GSTR 5 Non-Resident Foreign Taxpayers GSTR 5A NRI OIDAR Service Provider Period (Monthly) Due Dates Period (Monthly) Due Dates Sept.,2019 20 th Oct., 2019 Sept.,2019 20 th Oct., 2019 ...