If an individual has not file his income tax return (ITR) from last three financial years and cash withdrawal more than 20 lakhs from saving or current bank account in a financial year, then TDS will be levied under section 194-N of the Income Tax Act 1961. In a financial year exceed 20 lakhs 2% TDS will be levied..
Budget 2019 Income Tax Slab Rates Changes Expectations : Individuals have a gross income of Rs 6,50,000 (Six lakh fifty thousand) will have not to pay tax if they make an investment. Mr. Goyal also said standard deduction would be a hike from Rs 40,000 (Forty Thousand) to Rs 50,000 (Fifty Thousand). etc....
All registered businesses have to file monthly, quarterly and/or annual GST Returns based on the type of business. In this article, we cover the following topics. What is GST is Return? Who should file GST Return? Type of GST Return? GST Returns due date. Late Fees for not Filing Return on Time, latest updates etc....
Today, all the varied sectors of the Indian economy have a discussion on the most recent moreover as biggest tax reform- the GST. Replacement most of the sooner indirect taxes, this new system has stunned the country! And, study claims that within the long-term....