Friday, October 5, 2018

Income Tax : -Due Dates for the month Oct. 2018

Due Dates for the month October 2018

7 October 2018 -
Due date for deposit of tax deducted/collected for the month of September, 2018. However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan
7 October 2018 -
Due date for deposit of TDS for the period July 2018 to September 2018 when Assessing Officer has permitted quarterly deposit of TDS under section 192194A194D or 194H
15 October 2018 -
Due date for furnishing of Form 24G by an office of the Government where TDS for the month of September, 2018 has been paid without the production of a challan
15 October 2018 -
Due date for issue of TDS Certificate for tax deducted under section 194-IA in the month of August, 2018
15 October 2018 -
Due date for issue of TDS Certificate for tax deducted under section 194-IB in the month of August, 2018
15 October 2018 -
Quarterly statement in respect of foreign remittances (to be furnished by authorized dealers) in Form No. 15CC for quarter ending September, 2018
15 October 2018 -
Quarterly statement of TCS deposited for the quarter ending September 30, 2018
15 October 2018 -
Upload declarations received from recipients in Form No. 15G/15H during the quarter ending September, 2018
15 October 2018 -
Due date for filing of audit report under section 44AB for the assessment year 2018-19 in the case of a corporate-assessee or non-corporate assessee (who is required to submit his/its return of income on September 30, 2018) has been extended from September 30, 2018 to October 15, 2018 vide Order [F.NO.225/358/2018-ITA.II], dated 24-9-2018.
15 October 2018 -
Due date for filing of annual return of income for the assessment year 2018-19 if the assessee (not having any international or specified domestic transaction) is (a) corporate-assessee or (b) non-corporate assessee (whose books of account are required to be audited) or (c) working partner of a firm whose accounts are required to be audited) has been extended from September 30, 2018 to October 15, 2018 vide Order [F.NO.225/358/2018-ITA.II], dated 24-9-2018.
30 October 2018 -
Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA in the month of September, 2018
30 October 2018 -
Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IB in the month of September, 2018
30 October 2018 -
Quarterly TCS certificate (in respect of tax collected by any person) for the quarter ending September 30, 2018
31 October 2018 -
Intimation by a designated constituent entity, resident in India, of an international group in Form no. 3CEAB for the accounting year 2017-18.
31 October 2018 -
Country-By-Country Report in Form No. 3CEAD by a parent entity or an alternate reporting entity or any other constituent entity, resident in India, for the accounting year 2017-18.
31 October 2018 -
Quarterly statement of TDS deposited for the quarter ending September 30, 2018
31 October 2018 -
Due date for furnishing of Annual audited accounts for each approved programmes under section 35(2AA)
31 October 2018 -
Quarterly return of non-deduction of tax at source by a banking company from interest on time deposit in respect of the quarter ending September 30, 2018
31 October 2018 -
Copies of declaration received in Form No. 60 during April 1, 2018 to September 30, 2018 to the concerned Director/Joint Director

Friday, September 21, 2018

GST :- September 2018 (Special Return)

Friends,   As everyone knows that now GSTR-3B AND GSTR-1 are due for filing GST return for the month September, 2018 as time period for the month Aug, 2018 for GSTR3b has been lapsed. 

Why September, 2018 is important for filing GST return ?
  • All Data of GSTR-1 relating to Financial Year 2017-18 can be amended through this return. 
  • GSTR3b can be updated accordingly GSTR-1 for correcting  input and output GST.
  • Due interest or penalty(Financial Year 2017-18) should be deposited before submitting this return to avoid audit litigation. 
  • Sales showing in Trading Account for the year 2017-18 should be matched with data of GSTR-1.
  • GST payable / receivable amount showing in balance sheet dated 31.03.2018 should be matched with GST Cash Ledger + GST Credit Ledger. 
  • GSTR-2A data should be matched with Purchase figures showing in Trading Account ending on 31.03.2018.

Due Dates for Submitting GSTR returns for the month September 2018 is given below :-
  • GSTR-1         due date 31-10-2018
  • GSTR-3B       due date 20.10.2018


Thursday, September 20, 2018

GST :- Due Date for submitting or filing GST Return for Aug, 2018

Friends,   It is now general awareness that Due Dates of GST returns have been extended upto 31.10.2018 etc,  This is not only for a particular month but also since inception of GST i.e. July, 2017.

                 Keeping in view above position, lot of personals or GST stake holders will be in double that the due date of  GSTR3B for the month Aug, 2018 is also extended, where as there is no change.  Due Date for GSTR3B for the month Aug, 2018 is 20th September, 2018.  After that Late filing fee will be charged.  

                     Therefore all GST Number holders are requested to submit their GSTR3B for the month Aug, 2018 in time so that penalty can not be imposed. 

A picture view for showing GST Due Dates of GST portal as on 20.09.2018 is available below:-


Thursday, June 7, 2018

Income Tax Deduction u/s 80CCD

Friends,   The employees who are appointed after 01.01.2006 are falling under NPS Scheme.   The special deduction has been provided for them under section 80CCD.    There are three type of deductions under 80CCD.

1. 80CCD (1)   for employee contribution
2. 80CCD (2)   for employer contribution
3. 80CCD (Ib)  for getting Extra Benefit in Income Tax.
 
Above deductions are detailed given below for easy use of stake holder :-

Section 80CCD: Deduction for Contribution to Pension Account

Employee’s contribution – Section 80CCD (1) is allowed to an individual who makes deposits to his/her pension account. Maximum deduction allowed is 10% of salary (in case the taxpayer is an employee) or 20% of gross total income (in case the taxpayer being self-employed) or Rs 1, 50,000, whichever is less.
FY 2016-17 and earlier years – In the case of a self-employed individual, maximum deduction allowed is 10% of gross total income.
However, the combined maximum limit for section 80C, 80CCC, and 80CCD (1) deduction is Rs 1, 50,000, which can be availed.
Deduction for self-contribution to NPS – section 80CCD (1B) A new section 80CCD (1B) has been introduced for an additional deduction of up to Rs 50,000 for the amount deposited by a taxpayer to their NPS account. Contributions to Atal Pension Yojana are also eligible.
Employer’s contribution to NPS – Section 80CCD (2) Additional deduction is allowed for employer’s contribution to employee’s pension account of up to 10% of the salary of the employee. There is no monetary ceiling on this deduction.

Tuesday, April 17, 2018

TDS / TCS :- LATEST RETURN FILING NSDL SOFTWARE VERSION RPU2.2

Friends,   Latest version of TDS return filing software is RPU 2.2.  To download free of cost , the same alongwith its Key Feature  is given below :-

Key Features – Return Preparation Utility (RPU) version 2.2

In case of non-availability of PAN of deductee for Form 27EQ, two new fields are introduced under deductee details which are as below: 


               >>>> Column no. 32) Deductee is Non-Resident (under this column two dropdown options will be provided i.e. Yes/No) 

           >>>> Column no. 33) Deductee is having Permanent Establishment in India (under this column two dropdown options will be provided i.e. Yes/No) 

              >>>>  This will be applicable to correction (C3) and regular statements pertains to FY 2017-18 onwards. 


Incorporation of latest File Validation Utility (FVU) version 5.7 (applicable for TDS/TCS statements pertaining to FY 2010-11 onwards) and FVU version 2.153 (applicable for TDS/TCS statements from FY 2007-08 up to FY 2009-10).


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