TaxKnob

14/02/2021

What happens to ITR after filing? Ever wonder what happens to ITR after filing? Well, that is exactly what we are going to see in this post. But before that, if you are a salaried person, you might want to read about how to file your ITR yourself. We've made a post for that and you can read it here....

Ever wonder what happens to ITR after filing? Well, that is exactly what we are going to see in this post in easy to understand language!

27/01/2021

In this post, we'll see provisions for TDS on Rent of Property. You may need to deduct you have occupied a house or shop on rent. Section 194-I(b) and Section 194-IB of Income Tax Act, 1961 are the governing sections. Contents: Section 194-I(b): TDS on Rent on Land & Building Section 194-IB: For Certain Individuals or HUFs Tax Deduction Account (TAN) Number and TDS Return…...

In this post, we'll see provisions for TDS on Rent of Property. You may need to deduct you have occupied a house or shop on rent. Section 194-I(b) and Secti..

25/01/2021

In this Post: What is TDS? When is TDS deducted? Flow/ Process of TDS TDS Certificate (Form 16 and 16A) Form 26AS- Annual Tax Statement Payment of TDS TDS Return Issue of Form 16 and 16A What is TDS? Ever wonder what is TDS? It stands for Tax Deducted at Source. It is nothing but income tax. To understand, let's say you are a paying salary to your employees....

Ever wonder what is TDS? It stands for... It is nothing but income tax. Let's say you are paying salary to your employees. The salary is income of…

19/01/2021

ITR for Salaried Persons Introduction If you earn salary income, you might want to know how to file ITR for salaried persons. If your case is simple or you are a DIY savvy, you might actually file your ITR on your own without professional help. But we strongly recommend taking professional help for your tax compliance. You are mandatorily required to file ITR if your income in last year exceeded Rs....

f you earn salary income, you might want to know how to file ITR for salaried persons. In this post you will get to know how you can file your ITR yourself...

17/01/2021

Basic Tax Compliance Need to know Basic Tax Compliance Before starting business knowing Basic Tax Compliance requirement is a must. If you have started a business, a big congratulation. We wish for your business prosper day on day and increase multi-fold. You must be proud as you are now contributing to the economy for reasons we have mentioned in this post…...

Basic Tax Compliance for small businesses. Basic GST and Income Tax Requirements like Documents required to be kept and various returns need to be filed.

14/01/2021

GSTR-9 due Date for FY 2019-20 in 2021 GST Annual Return due date for FY 2019-20 has been extended by Notification No. 95/2020- Central Tax. Section 44(1) of CGST Act, 2017 read with rule 80(1) of CGST Rules, 2017 and notifications issued and amended time to time lays down the provisions for furnishing GST Annual return. In this post we will see relevant provisions for annual return....

GST Annual Return Due Date for FY 2019-20. GST Annual Return (GSTR-9) due date for FY 2019-20 has been extended by Notification N...

11/01/2021

In this blog we will see provisions of GST for Insurance Agents. Insurance Agents procures clients for Insurer. In return they get commission by the Insurer. Say, you purchase a Life Insurance Policy (LIP) from an individual insurance agent for which you pay Rs. 25000 Quarterly (Rs. 100000 per year). Out of this Rs. 100000, the insurance agent shall get say 10% that comes to 10000 as commission from the insurer and if the insurance agent procures 50 clients like you, his income shall be Rs....

GST for Insurance Agents. Agents. Insurance Agents procures clients for Insurer. In return they get commission by the Insurer.

11/01/2021

Quarterly Return and Monthly Payment or QRMP Scheme is an optional scheme that the government has introduced for small taxpayer. This is to ease their compliance requirements under GST law. Now, they have option to file GSTR 3B quarterly. They can even pay taxes on the basis of previous period return without having to calculate actual liability every month. Return Eligibility…...

QRMP Scheme- the Government, through Notification No. 84/2020 , notified persons who have opted to furnish a return for every quarter- Pay taxes monthly by 25th

10/01/2021

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