Posted On:  1 week ago


Process and documents required for Education Loan

Anyone who has secured an admission into an approved course in India or elsewhere is eligible for an Educational Loan. The bank manager has discretion in approving the loan based on the student's academic performance and the expected employment opportunities for the course.

article author CA Chirag Chauhan

Posted On:  2 weeks ago


10 important points while file Income Tax Returns

Many taxpayers mess up their tax returns because of either out of greed, ignorance of rules, or just lack of time for knowing the rule. Some mistakes are not very serious offences and the taxpayer will get away with an additional tax demand. But some errors, such as not mentioning cash deposits after demonetization or foreign assets and income or sale of property disclosure, can land the taxpayer in serious trouble How to avoid such mistakes? There have been several changes in tax filing rules in the past year. The tax payer may not be aware of all the changes so it is advisable to take help of professionals in filing the return and avoid any mistakes. There might be many mistake which a individual makes if filing is done by self. Here are the few common errors or mis outs in case of filing returns.

article author CA Chirag Chauhan

Posted On:  2 weeks ago


7 myths of GST clarification on Twitter by Government

Revenue secretary addresses doubts on twitter 1. Myth: All invoices need to be generated on computer only Reality: Invoices can be generated manually too 2. Myth: It is said that you need internet all the time for the business

article author CA Chirag Chauhan

Posted On:  2 weeks ago


How to make family constitution in India

A Family Constitution is a system of joint decision-making, most often by a board of directors and a family council, which helps the owner family govern its relationship with its wealth and enterprises. It is often assisted in this mission by a family constitution capturing the family’s vision and important family values, a family employment policy setting the requirements for the employment of family members in the firm or family office, an ownership

article author Varsha Kewalramani

Posted On:  4 weeks ago


Do you really require to buy Software for GST?

The most common question asked by many SMEs right now is the required to have software for migration or implementation or filing returns for the GST. There are many software which are available in the market by the GSP service provider starting from range of Rs 3000 to 25000. Are these software’s really worth? Do your organization really require GST software

article author CA Chirag Chauhan

Posted On:  1 month ago


Short FAQs on Tweets Questions received by GST_GOI handle

The tweets received by ask GST_ GoI handle were scrutinized and developed into a short FAQ of 100 tweets.

article author CA Chirag Chauhan

Posted On:  1 month ago


Postponement of provision relating to TDS (Section 51) and TCS ( Section 52) of the CGST / SGST Act 2017 - Press Release

With the objective of ensuring smooth rollout of GST and taking into account the feedback received from the trade and industry regarding the provisions of deduction of tax at Source under Section 51 of the CGST / SGST Act 2017 and collection of tax at source under Section 52 of the CGST / SGST Act 2017, the following has been decided :-

article author One Roof Consultant

Posted On:  1 month ago


Sign the Petition - Disability goods to be taxed at zero rate in GST

The Finance Minister, Shri ArunJaitleyon 6 June 2017 stated on social media that daily consumer goods being used by the common man among others to become cheaper after GST.  Ministry of Finance stated that day-to-day commodities will attract zero GST after the indirect tax regime is rolled out on July 1

article author CA Chirag Chauhan

Posted On:  1 month ago


List of documents required for fresh GST registration

The fresh registration window for GST no is going to start from 25th June 2017 for all those who do not have existing Service tax no, vat no or excise no can now directly apply for fresh GST no from 25th onwards. The following are the documents required for fresh enrolment for GST:

article author CA Chirag Chauhan

Posted On:  1 month ago


Format of Invoice in GST for Goods and Service and Mandatory Requirement

Under the GST act the details to be maintained in invoice, types of invoice has been specified. As per nature of transaction they are required to be prepared. Under this article a detailed elaboration has been made on the types of invoices which are required to be prepared along with the details to be mentioned.

article author CA Chirag Chauhan

Posted On:  1 month ago


How to pass Accounting and Journal entries under GST and Register to be Maintained (Goods and Service Tax)

Under the new system of one nation one tax, i.e. GST all these taxes (excise, VAT, service tax) will get subsumed into one account and assesse will get benefit of setting of and availing Input credit at all levels. Following are the accounting ledgers which needs to be maintained by assesse for recording in books of accounts apart from Purchase, Sales and other ledgers

article author CA Chirag Chauhan

Posted On:  1 month ago


Register your tenant with Mumbai Police or pay fine or go jail – Mumbai new Law

Terrorism is one of the global issues faced by the people around the world and Mumbai is not out of this problem. Due to past many such instances in Mumbai there is always a fear of terrorism or any such activity. It is feared that terrorists may seek refuge in Mumbai and in order to prevent such mishappening, Mumbai police have issued a circular ordering all landlords and homeowners to submit the details of their tenants

article author Dharmesh Jain

Posted On:  1 month ago


Return filing procedure under GST

1. Every registered person is required to file (i) Details of Outward Supply; (ii) Details of Inward Supply; and (iii) Return for the prescribed tax period. 2. UN agencies have to file return for the month during which they make purchases. They would not be required to file regular return. 3. Common return is pre

article author Kailash Dave

Posted On:  1 month ago


Analysis of Goods & Service Tax (GST) on Real Estate Industry

If Government/GST Council will rectify defects pointed out by me in the said article then it will help in reducing inflation & also help in achieving Government’s mission of creating employment, creating smart cities, good infrastructure & ‘Housing for All’ mission by 2022. Please note that my above article is also uploaded in www.taxguru.in website on 29-05-2017.

article author CA JINESH GADA

Posted On:  1 month ago


Procedure and List of Documents required for registration of Public Trust

According to Section 2 (13) of the Bombay Public Trust Act 1950, a Public Trust means , an express or constructive trust for either a public, religious or charitable purpose or both and includes a temple, a math, a wakf, church, synagogue, agiary or other place of public religious worship, a dharmada or any other religious or charitable endowment and a society formed either for a religious or charitable

article author Varsha Kewalramani

Posted On:  2 months ago


How to Pay Zero Tax for Income up to Rs 12 Lakhs from Salary for Financial Year 2017-18

Most of salaried individual do their tax planning at the end of the year, as many are not aware of what all options are available to save taxes. Very few start planning at the beginning of the year. The article will help individuals to plan their taxes well in advance so that can invest and plan in systematic manner much in advance. The Article gives you brief idea on how to save tax and at the same time make proper investment and cover insurance and Medical expenses risk.

article author CA Chirag Chauhan

Posted On:  2 months ago


New Cost Inflation Index Base year 2001-2002 as per Income Tax

CBDT has vice Notification No. 44/2017 notified Cost Inflation indexes with Base Year as 2001-02 for the Financial Year 2001-02 to 2017-18 and same are applicable from Financial Year 2017-18. S.O. 1790(E).—In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961

article author CA Chirag Chauhan

Posted On:  2 months ago


Registration for GST migration started from 1 June, Step wise process and documents required.

Have you missed to register and migrate to GST. The Enrolment process has started again from 1 June 2017 and will be open for 15 days. All the exsisting taxpayer need to migrate to GST

article author CA Chirag Chauhan

Posted On:  2 months ago


Due date for filing of Form 61A (SFT) extended to 30th June 2017

The last date for furnishing the statement of financial transactions under Rule 114E(5) of the Income Tax Rules, 1962, (the Rules) read with sub-section (1) of section 285BA of the Income Tax Act, 1961, (the Act) is 31st May, immediately following the Financial Year in which the transaction is registered or

article author CA Chirag Chauhan

Posted On:  2 months ago


CBDT clarifies on SFT & SFT Preliminary Response Filing

Section 285BA of the Income Tax Act, 1961 requires furnishing of a statement of financial transaction (SFT) for transactions prescribed under Rule 114E of the Income Tax Rules, 1962. The due date for filing such SFT in Form 61A is 31st May 2017.

article author CA Chirag Chauhan