The new section 194Q along with 206AA and 206 AB(I) has caused new headache for the tax heads across corporate India. The government has placed controls on the flow of money across the economy through these new sections. Service industry being well equipped [...]
How to Claim Input Tax Credit For Purchases Made on Amazon India? Many business owners who are registered under Goods and Services Tax can now avail of the benefit of "Input Tax Credit" from purchases made on Amazon India. Before we explain the [...]
Types of ITR Forms and Their Applicability Everybody i.e. Individual, Hindu undivided family(HUF), partnership firms, LLP, trusts and companies are required to file income tax returns. Every individual whose total income is more than Rs. 2, 50,000 per year should file their returns. [...]
Taxation for Presumptive Income Under Section 44ADA Professionals such as doctors, engineers, lawyers, interior designers and even chartered accountants who are self employed have to file their returns. Returns of professionals involve a balance sheet, profit & loss account and a capital account. [...]
Taxation for Presumptive Income Under Section 44AD Request a Call Back Introduction Income tax return filing is one of the important business compliance that every businessman is expected to perform. Business owners are expected to file their income tax return on yearly basis. A business tax [...]
What is Letter of Undertaking (LUT) in GST? Letter of undertaking or LUT is a guarantee that a taxpayer registered under Goods and Services Tax regime in India provides to government claiming that he will be exporting his services or/and goods and will [...]
A normal taxpayer is required to file Form GSTR 9/9C for financial year 2017-18, which is required to be filed by them on GST Portal latest by 30th June 2019. Taxpayers have reported some issues in filing their Form GSTR 9/9C, which [...]
Error! You are not authorized to access GSTR1 for this return period At the time of filing GSTR-1, many taxpayers are facing this error which says "Error! You are not authorized to access GSTR1 for this return period". While it says it is an [...]
We at FileMyGSTR have been publishing stories and news on the newly implemented Goods and Services Tax regime. GST council in one of its recent meeting has contemplated on waiver of late filing penalty for the taxpayers. This has also been conveyed [...]
The introduction of Goods and Services Tax regime has propelled a new set of taxpayers viz. Online Sellers and Freelancers. While there is a turnover limit of INR 20 lakhs on GST Registration, E-commerce marketplaces have made it mandatory for online sellers [...]
