TaxEzee

GST, INCOME TAX AND COMPLIANCE UPDATES.
#GST #INCOMETAX #ITR #GSTR

[TaxEzee @tax_ezee]

Read our latest blog here: https://t.co/UXI5XmhgMx
#taxezee #form16 #salalrycertificate #incometaxreturn #itr

[TaxEzee @tax_ezee]

Following are the ITR forms for AY 2019-20 along with brief description of each ITR form as notified in Government Gazette by Central Board of Direct Taxes (CBDT) on April 1, 2019: https://t.co/lsgjhx8TfT

#ITRFORM #INCOMETAXRETURNFORMS #ITR2019 #ITR FORM2019-20 #taxezee

[TaxEzee @tax_ezee]

DIN Holders to file DIR-3 KYC every year. Each DIN holder needs to complete KYC annually by filling form DIR-3 before 30th April, DIR-3 is annual compliance and needs to be done by every DIN holder every year. Read our complete article here: https://t.co/nQOpcfwpJl

[TaxEzee @tax_ezee]

Relief for Self-occupied house - No notional income for second self-occupied house. Exemption on levy of income tax on notional rent on second self-occupied house.
#taxezee #incometax #financebill2019 #itax

[TaxEzee @tax_ezee]

Finance bill 2019 – Income Tax updates: Individual taxpayers having taxable annual income up to Rs.5 lakhs will not be required to pay any income tax.
#taxezee #incometax #financebill2019 #itax

[TaxEzee @tax_ezee]

Time limit for availing approval for deduction u/s 80-IBA relating to affordable housing projects extended to 31 March 2020.

#taxezee #incometax #financebill2019 #itax

[TaxEzee @tax_ezee]

CERTIFICATE OF COMMENCEMENT OF BUSINESS: Every Company incorporated on or after 02.11.2018 now need to file INC 20A before the commencement of business.
#taxezee

[TaxEzee @tax_ezee]

MSME REPORTING-All Specified Companies as per section 9 of the MSME Development Act, 2006, who get supplies of goods or services from micro and small enterprises and whose payments to such enterprises exceed 45 days shall submit a half yearly return (MSME Form I)
#taxezee

[TaxEzee @tax_ezee]

NEW COMPLIANCE REQUIREMENT FOR COMPANIES: Every company other than Govt company to file a onetime return (FORM DPT-3) of outstanding receipt of money or loan by a company but not considered as deposits in terms of Rule 2(1)( c) of Companies (Acceptance of Deposits) Rules 2014

[TaxEzee @tax_ezee]

Now FORM GSTR 1 allows amendment of B2B invoices pertaining to FY 2017-18. Amendment facility of
to FY 2017-18 invoices started in the GSTR1 January returns.
#TaxEzee #GST

[TaxEzee @tax_ezee]

GST RETURN FILING SYSTEM IMPROVEMENTS:
SALES INVOICE DATA CAN BE IMPORTED FROM E WAY BILL SYSTEM: No need to enter invoices in GSTR
1, the invoice data as declared in E-way bill system can now be directly imported in to Form GSTR 1.
#TaxEzee #GST

[TaxEzee @tax_ezee]

#10yearchallenge It is amazing to see how much we have changed as a country over the period of 10 years. Going from multiple taxes in 2009 to a single tax system in 2019 proved, things are getting better.@cbic_india @FinMinIndia @PMOIndia #TaxEzee #GST #EaseofDoingBusiness

[TaxEzee @tax_ezee]

#10yearchallenge It is amazing to see how much we have changed as a country over the period of 10 years. Going from multiple taxes in 2009 to a single tax system in 2019 proved, things are getting better.@cbic_india @FinMinIndia @PMOIndia #TaxEzee #GST #EaseofDoingBusiness

[TaxEzee @tax_ezee]

GST COUNCIL 32 MEETING DECISION 4 -NEW COMPOSITION SCHEME FOR SERVICE PROVIDERS- A new composition scheme for supplier of services with a tax rate of 6% and having annual turnover in preceding financial year up to Rs. 50 lakhs.
#taxezee #gst #GSTCouncil

[TaxEzee @tax_ezee]

GST COUNCIL 32 MEETING DECISION 3 - HIGHER EXEMPTION THRESHOLD LIMIT -Two threshold limits for exemption from GST registration of GST for supplier of goods. Rs. 20 lakhs and Rs. 40 lakhs, and each State needs to decide about the applicable limit.
#taxezee #gst #GSTCouncil

[TaxEzee @tax_ezee]

GST COUNCIL 32 MEETING DECISION 2-ONE ANNUAL RETURN FOR COMPOSITION DEALERS-Composition dealers to file one annual return but payment of taxes would remain quarterly along with a simple declaration every quarter. Effective from April 1, 2019.
#taxezee #gst #GSTCouncil