Technical Taxation Solution

जीएसटी काउंसिल ने जीएसटी रिटर्न फाइलिंग के लिए एक नए और सरल फॉर्मेट को मंजूरी दी है. यह नया फॉर्मेट है मैसेज यानी एसएमएस के जरिए रिटर्न फाइल करने का है.  सरकार कारोबारियों को राहत देने के लिए जीएसटी (गुड्स एंड सर्विसेज टैक्‍स) रिटर्न दाखिल करने के प्रोसेस को आसान करने जा रही है. मीडिया रिपोर्ट्स के मुताबिक, इसके लिए जीएसटी काउंसिल ने जीएसटी रिटर्न फाइलिंग के लिए एक नए और सरल फॉर्मेट को मंजूरी दी है. यह नया फॉर्मेट है मैसेज यानी एसएमएस के जरिये रिटर्न फाइल करने का है. आपको बता दें कि नए फॉर्मेट के तहत कारोबारी एसएमएस से रिटर्न फाइल कर सकेंगे, जिन्‍होंने पूरी तिमाही के दौरान किसी भी तरह की खरीद या सप्‍लाई नहीं की है और इसके चलते उन पर कोई टैक्‍स नहीं बनता है. ऐसे कारो‍बारियों को निल फिलर्स कहा जाता है.  नए सिस्टम पर काम जारी- बिजनेस न्यूज फाइनेंशियल एक्सप्रेस में छपी खबर के मुताबिक, नए सिस्‍टम के आने से रिटर्न फाइलिंग के टाइम में कटौती होगी. जीएसटी रिटर्न फाइलिंग के लिए नए फॉर्म्‍स के ड्रॉफ्ट स्‍टेकहोल्‍डर्स के सुझाव के लिए सोमवार तक पब्लिक डोमेन पर उपलब्‍ध करा

A date for filing Income Tax return is nearby. You must be ready with all necessary documents for filing Income tax return. ITR filing is an important exercise and as a taxpayer, you have to be cautious while filing income tax returns.  Here is a list of common mistake which taxpayer is likely to make. This year is special when it comes to Income tax. Almost all bank accounts and PAN cards are linked with Aadhaar and rigorous monitoring is taking place as per the Income-tax department. Any mistake related to underreporting of income or inflating deduction/exemptions will lead to heavy penalty including jail. If you want to avoid the unnecessary trouble of income tax here are 15 Income Tax Mistakes you must avoid while filing ITR. Fake Bill of HRA It is observed most of the time that taxpayer produces fake rent receipt or bill to claim HRA. Income tax department has tightened this exemption. This year in ITR form separate section is given asking for tenant PAN number. It is

One of the most popular section when it comes to income tax saving is 80C. People are aware of 80C and use this section fully when it comes to Income tax deductions. But many times taxpayer forgot other available income tax deductions which can reduce their tax burden. In this post, we will take a look at less known income tax deductions which can be used to save more tax. taxation helper Save Tax through your Family Member One of the simplest ways to save tax is through your family member parents, in-laws, wife, and children. You might be surprised that how it works? Let me explain, in this method you need to give away a portion of your fund to the family member as a gift or loan. If you have any close family member or relatives who fall in NIL or lower tax bracket then you can save taxes by gifting/transferring your investment in their name. You need to open separate income tax file on their name. Tax implication arising due to above is explained below. Example 1 – L

The Institute of Chartered Accountants of India ( ICAI ) has launched a new system to system to generate a new unique identification Number keep the records of attestations by the  Chartered Accountants . TAXATION HELPER This will help the Institute to track all the certifications and also make fake certifications / third part certifications harder to get. The move aims at bring more accountability and transparency in accounting in the light of recent controversies including the PNB Scam where the Chartered Accountants were allegedly involved in the scam. The new system will also help to secure the documents certified by CAs and to establish the authenticity of the documents. Unique Document Identification Number (UDIN) is a unique number, which will be generated by the system for every document certified/ attested by a Chartered Accountant and registered with the UDIN portal available at https:/udin.icai.org/. It has been noticed that financial statements and documents