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- FORM 27EQ | Total Value of Purchase in TCS Return 27EQ | Karr Tax
Unlock everything about Form 27EQ and Tax Collected at Source (TCS) with our comprehensive guide. Stay on top of your tax responsibilities effortlessly! FORM 27EQ: Price List টিসিএস ফর্ম 27EQ ফিরে আসে তোমারটা নাও স্ট্যান্ডার্ড টিসিএসের জন্য ফর্ম 27EQ ২,০০০ টাকা। 1499 এখনই শুরু কর ফর্ম 27EQ FORM 27EQ: FAQ Understanding Tax Collected at Source (TCS) might feel a bit tricky initially, but don't worry—we're here to simplify it for you. In simple terms, TCS is like a tax collected by the seller from the buyer, and this amount is then handed over to the government. It's like the seller acting as a tax collector on behalf of the government. Now, let's explore the fundamental aspects of TCS and Form 27EQ together. Understanding Form 27EQ Form 27EQ is the document where all the nitty-gritty details about the Tax Collected at Source by the seller are recorded. This form holds vital details about the tax collected and forwarded to the central government. Sellers need to submit it every quarter, and it's crucial to stick to those submission deadlines. What is Tax Collected at Source? Simply put, TCS is the direct tax or income tax collected by the seller while selling a product at a specified price. It's a way for the government to ensure that taxes are paid promptly at the source, i.e., during the sale itself. The difference between TDS and TCS Form 27EQ isn't just for one group of people; it applies to both corporate and government collectors and deductors. These are the entities responsible for collecting and depositing TCS. Who Needs to File Form 27EQ for TCS Returns? Here are the types of organizations and individuals that must file Form 27EQ for TDS returns: Corporate collectors and deductors including Firms and LLPs Government collectors and deductors Individuals and HUF having turnover above 1 Cr. Specified Goods Subject to TCS TCS isn't applicable to all goods. It's collected on specific items, including: Alcoholic Liquor for human consumption Tendu leaves Timber obtained under a forest lease Timber obtained by any other means Other forest produce (excluding timber and tendu leaves) Scrap Minerals like coal, lignite, or iron ore Sale of goods when the consideration exceeds INR 50,00,000 during a Financial yea r Sale of Cars (New and Old) when the sale value is above INR 10,00,000 Details Needed for Form 27EQ Filling out Form 27EQ is relatively straightforward if you have the necessary information on hand: Collector/Seller: TAN (Tax Deduction and Collection Account Number), PAN (Permanent Account Number), Name, Address, and Contact Details. Responsible Person: Name, PAN, Address, and Contact Details. Challan: Challan serial number, BSR Code (Bank and Branch), TDS, Surcharge, and Education Cess. Deduction: Buyer's Name, PAN, Total purchase value, TCS amount collected and deposited. Sections of Form 27EQ The form is divided into sections for easy organization: Section 1: Contains details like TAN, PAN, financial year, and assessment year. Section 2: Collectors provide their information here. Section 3: Information about the person in charge of tax collection. Section 4: Tax collection and deposit details, including codes, amounts, and dates. Section 5: Taxpayer details and signatures. Due Dates for Form 27EQ Meeting deadlines is crucial when it comes to Form 27EQ. Below are the deadlines for each quarter: Q1 (April - June): On or before 15th July Q2 (July - September): On or before 15th October Q3 (October - December): On or before 15th January Q4 (January - March): On or before 15th May Check the Due Date Calendar for Income Tax and GST in India . How to Download Form 27EQ Downloading Form 27EQ is a breeze. Just follow these steps: Visit the NSDL official website . Navigate to the 'Downloads' tab on the Menu and choose 'E-TDS/E-TCS.' Select 'Quarterly Returns' and click 'Regular.' Find Form 27EQ, click to open it, and download or print as needed. Important Update: Kindly be aware that the deadline for filing TDS Returns in Form 26Q , 27Q & 27EQ for the first quarter of the financial year 2023-24 has been postponed to September 30, 2023, in accordance with the Income Tax Circular issued by the Central Board of Direct Taxes (CBDT). Penalties for Late Submission Filing Form 27EQ on time is crucial to avoid penalties. Late submission can result in: A late fee of Rs. 200 per day until filing, with the cumulative late fee not exceeding the TCS amount. Non-filing penalties range from Rs. 10,000 to Rs. 1,00,000, depending on the severity of the delay. To sum it up, Form 27EQ plays a crucial role in making sure taxes are collected and paid seamlessly. When sellers grasp the process and meet the deadlines, they not only sidestep penalties but also play a part in maintaining an efficient tax system . Form 27EQ is essential for TCS (Tax Collected at Source) compliance in India, primarily for the sale of goods. It is used to report and file TCS returns. The collection code for TCS on the sale of goods is specified within this form. Understanding the correct collection code is crucial when making payments and filing the 27EQ return. This form serves the purpose of recording TCS on goods and ensuring tax compliance. Be aware of the 27EQ TDS return due date to meet your obligations and avoid penalties. Form 27EQ plays a significant role in the TCS process, providing information on the total value of purchases subject to TCS. পিডিএফ ফর্ম 27EQ ডাউনলোড করুন
- How to check Income Tax Refund Status | Karr Tax
Find the easiest way to track your income tax refund status with our comprehensive guide. আপনার আয়কর ফেরতের অবস্থা কীভাবে চেক করবেন What is Income Tax Refund? আপনি নিজের আইটি রিটার্নটি সেলফের মাধ্যমে বা কোনও এজেন্সি বা সিএ এর মাধ্যমে দায়ের করেছেন তবে অনেকবার আপনি ভাবতে পারেন যে আপনার অ্যাকাউন্টে বা অনুরূপ ইস্যুতে কেন ফেরত জমা দেওয়া হয়নি। اور আয়কর বিভাগ সর্বশেষ অনেক এ্যাসস্টির আপনার আয়কর ফেরতের অনলাইন চেকিংয়ের সুবিধা সরবরাহ করেছে। অনলাইনে ওয়েবসাইট www.tin-nsdl.com ভিজিট করে। اور এখানে আপনার আইটি ফেরতের অর্থ কী হয়েছিল তা আপনার অ্যাকাউন্টে creditণের তারিখ, কোনও বকেয়া চাহিদার বিপরীতে সামঞ্জস্য করা হয়েছে কিনা সে সম্পর্কে আপনি এখানে বিশদ তথ্য পাবেন। তবে কোনও বিবরণ উপলভ্য না হলে এর অর্থ হ'ল আপনার রিটার্নটি এখনও প্রক্রিয়াভুক্ত হয়নি বা এগুলি আপনার প্রক্রিয়াকরণের কিছু সমস্যা। সেক্ষেত্রে আপনাকে ইফিলিং সাইটটি দেখতে হবে অর্থাৎ www। আয়ট্যাক্সিন্ডিয়াফিলিং .gov.in, আপনার অ্যাকাউন্টে লগইন করুন এবং আপনার রিটার্ন প্রসেসিংয়ের স্থিতি দেখুন। اور اور আপনার আইটি ফেরতের স্থিতি পরীক্ষা করতে اور اور اور اور When Are You Eligible To Claim An Income Tax Refund? Excess TDS Deducted Employers deduct taxes according to the documents, such as proofs for investments like 8 0C or medical insurance premiums . In any case, if the employee can't furnish proof by the financial year's end, the employer might deduct higher taxes. Further, according to their eligibility, the employee can claim the benefits later by filing the IT return, such as ITR-1 , ITR-2 , etc, and seek a refund of the excess taxes paid. Income Below Taxable Bracket Individuals with income less than the taxable threshold (e.g., less than Rs 5 lakh) may not be required to pay taxes. Yet, their taxes got deducted. So they can seek a refund on the excess tax deducted. Excess Advance Tax Paid If the advance tax paid on self-assessment exceeds the actual tax liability for the financial year, taxpayers can claim a refund while filing their Income Tax Return (ITR). Doubly Taxed Income (DTAA) Entities earning taxable income in more than one country due to being a citizen of one country and receiving income from another may claim a tax refund. Double Taxation Avoidance Agreements (DTAA) allow non-residents to claim a refund if their income is taxable in multiple countries. Excess TDS on Interest Income Banks may deduct TDS on interest accrued from FDs or bonds if it exceeds the specified limit in the Income Tax Act. Taxpayers can claim a refund if excess TDS is deducted. All the instances mentioned above are subjective, so seeking advice from a professional tax expert from Karr Tax is suggested to ensure compliance with tax laws and guidelines to facilitate a smooth refund process. How To Claim An Income Tax Refund? To initiate the process of claiming an income tax refund, the taxpayer needs to file their Income Tax Return (ITR) . The department will consider the ITR for refund processing only if it is verified through online modes or by sending a signed copy of ITR-V through offline means. Have you filed your Income tax return to claim a refund? If not, get started with Karr Ta x's user-friendly platform. Want to save on taxes? Get it touch with our tax professionals to know the strategies! How To Check IT Refund Status? Once the refund is processed, you can check the refund status in the following ways. The Income Tax E-filing Portal Follow the below steps sequentially. Step 1.) Visit the official Income Tax portal website and log in to the account using your PAN and password. Step 2.) Go to the “services” section, select "Know your Refund status’ and choose Assessment Year. Step 3.) Here, you can check the refund status of refund determined after 31st March,2023. For Refunds issued prior to this date, you have to follow below mentioned process. The TIN NSDL Portal Here are the steps to check IT refund status via the TIN NSDL Portal. Step 1.) Visit the official TIN NSDL Portal , and you will see a page shown in the image Step 2.) Enter your PAN number, assessment year, and fill in the captcha. Then, click “Proceed.” Once done, you will get all the details of your TDS refund status. Here is a list of some common terminologies for various income tax refund statuses. Refund Paid: Your income tax refund has been successfully transferred to your bank account. No Demand, No Refund: This status indicates that the tax amount deducted is accurate and the income tax department does not owe you any refund. Demand Determined: Your demand for a refund has been rejected, and the department's calculation suggests that you need to pay additional tax. ITR Proceeds Determined and Sent to Refund Banker: It implies that your income tax refund has been processed, and the amount has been sent to the refund banker for further processing. Refund Failure: The IT department has issued the refund, but it was not processed due to bank detail errors. Rectification Proceeded On, No Demand, No Refund: The income tax department has proceeded with rectifying your return, and there is neither a demand for additional payment nor a refund owed. Rectification Proceeded, Demand Determined: The rectified income tax refund request has been accepted, but the demand for additional tax payment has been determined. This amount needs to be paid within 30 days of the notice. Frequently Asked Questions (FAQs) 1.If my refund status displays “Refund Failure,” can I apply for that again? You can raise a “Refund Reissue” request under the ‘Services’ tab and add the bank account number where you want the credited refund. It will only be processed if the bank account is pre-validated. 2.I have changed my bank account number and want to change this in IT return. How to do this? If you need to update your bank account number in your income tax return, it is typically applicable in cases of refund failure. Where your IT Return has been processed, a refund was generated, but you have yet to receive it. To change the bank account number under such circumstances, follow these steps: Log in to the official income tax website. Navigate to 'Services' and select 'Refund Reissue.' Create a refund reissue request, specifying the updated bank account details where you want the refund to be credited. Ensure the new bank account is pre-validated, as the refund will only be credited to pre-validated accounts. Submit the refund reissue request. 3.How to check my income tax refund status online? You can check your IT return refund status online in two ways. By the Income Tax E-filing Portal By the TIN NSDL Portal 4.Is IT refund taxable? No, income tax refunds are not taxable as they are the return of excess income tax a taxpayer has paid to the government throughout the year. Since the refund is essentially the return of your own money that you overpaid in taxes, it is not treated as new income. Therefore, it is not subject to additional taxation. 5.Some of my personal details have changed. How can I update the address, email ID, and mobile number I provided in my Income Tax Return? To update your contact information, log in to the income tax e-filing website and navigate to 'My Profile.' Click 'Edit Contact' and enter your new address, email ID, or mobile number. Once you submit the changes, your updated contact details will be reflected in your profile and automatically sent to the Central Processing Center (CPC) for updating in your income tax return. 6.What is the meaning of the term “Restricted Refund”? Restricted refund refers to the error that arises due to the inconsistency between your PAN and bank account number. 7.Is there any compensation for a delayed income tax refund? In the case of a delayed income tax refund, you are entitled to receive compensation. You will be eligible for an interest payment of 0.5% per month or part of the month on the amount that was due to you. This interest accrues from the 1st of April of the assessment year and continues until the date when your refund is granted. 8.What could be the reasons for delayed income tax refunds? There can be several reasons behind this situation. Processing Status Your Income Tax Return might still need to be processed. Inspect the status by logging into the income tax e-filing website. No Refund Determined Your income tax return might have been processed, but the Income Tax Department has determined that no refund is applicable in your case. Refund Not Credited Your income tax return could have been processed with a refund, but it has yet to be credited to your account. Ensure that you have pre-validated your bank account. এখানে ক্লিক করুন
- E-Way Bill Under GST | Karr Tax
E-way bill is a document that is required to be carried by the transporter of goods when the value of the consignment exceeds Rs.50000. Learn Everything about Electronic Way Bill here. E-Way Bill under GST Contents What is E-way Bill Who is required to Generate E-Way Bill? What type of Goods require E-Way Bill? E-Way Bill Format and Process Validity Period of E-way bill? Cancellation or updation of E-way Bill When E-Way Bill is not required? Different State Limits for Generation of E-Way Bill Acts and Ruls of CGST regarding E-Way Bill Forms of E-Way Bill What is an E-way Bill ? What is E-way Bill E-way bill is a document which is required to be carried by transportor of goods when the value of consignment is exceeding Rs.50000. E-way bill needs to be generated by Registered person or transportor of goods when the value of consignment is above Rs.50000. E-way bill is generated from the e-way bill portal of GST either by the registered person or by the transportor before the movement of goods starts. Section 68 of the GST Act requires that govt. may prescribe a document which needs to be carried by person in charge of conveyance for transporting goods beyond a certain limit. Rule 138 of the GST Act has prescribed E-way bill as that document which was referred in Section 68 of the Act. The e-way bill, a crucial document for transporting goods, follows a specific format outlined by the GST regime. This digital document must accompany the transportation of goods valued above a specified threshold, ensuring compliance with GST regulations. For specialized cargo like over-dimensional cargo, which exceeds standard dimensions, including the appropriate details in the e-way bill becomes essential. Over-dimensional cargo's inclusion in the e-way bill pertains to specifying its unique characteristics, ensuring accurate documentation and compliance while transporting such goods. Who is required to generate E-way bill ? Who is required to Generate E-Way Bill? E-way bill is required to be generated by : 1. Registered Person 2. Transporter of Goods here either registered person or transporter can generate E-way bill. Before generation of E-way bill, both the Registered Person as well as transporter needs to be registered at E-way bill portal of GST. 3. Any other Unregistered person can also enroll on the E-way bill portal of GST and generate E-way bill for his/her own use. What type of Goods require E-way Bill generation? What type of Goods require E-Way Bill? E-way bill is required for movement of goods exceeding Rs.50000 in a conveyance or vehicle for the following type of goods : 1. Any sale of Goods 2. For any other reasons i.e. goods send on consignment, branch transfers, sales return etc. 3. In case of any inward supply from an Unregistered dealer However, there are two other circumstances prescribed wherein E-way bill is mandatory even if the value of goods is less than Rs.50,000 : 1. When there is Inter-state movement of Goods by Principal to Job-worker 2. When there is Inter-state transport of Handicraft goods by a dealer who is not required to be registered i.e. Exempt from Registration E-way bill Format and Process E-Way Bill Format and Process E-way Bill (EWB-01) consists of two parts : Part A & Part B Part - A : Part A Consists of details of Supplier and Receipient and the details of Invoice, dispatch etc. Part B : In Part B, the transporter details and the vehicle details will be available Since an E-way bill can be generated by a Registered person as well as a transporter of goods, Part - A and Part - B can be filled either by a Registered person or the Transporter. It is also possible that the registered person fills Part - A and the transporter fills Part B before the actual movement of goods. It is also possible that the transporter is transporting multiple consignments in a single vehicle. In that case, the transporter can generate a single consolidated E-way bill (EWB-02) in which the details of all single E-way bills can be provided. Validity Period of E-way Bill Validity Period of E-way bill? There is a validity period of each E-way bill generated on the e-way bill portal. The same is as under : Description of Vehicle Kms. i.e. Distance Validity of E-way bill Normal Vehicles upto 200 Kms. 1 day Normal Vehicles for additional 200 Kms. or part Additional 1 day Over Dimensional Vehicles Upto 20 Kms. 1 day Over Dimensional Vehicles for additional 20 Kms. or part Additional 1 day Cancellation or updation of E-way Bill E-Way Bill Expired What To Do? Understanding the e-way bill format is pivotal, especially regarding its validity for transportation. The e-way bill's validity typically extends to a distance of 200 kilometers, beyond which a new e-way bill is required. This ensures that the transportation process complies with GST regulations and that the goods being transported are appropriately documented throughout their journey. Consignment sales under GST require proper documentation, often involving the generation of an e-way bill through the designated e-way bill portal. Adhering to the specific format of the e-way bill and using the online platform for its generation ensures compliance and accuracy in documenting goods transported via courier services under GST regulations. Cancellation or updation of E-way bills E-way bill once generated can't be modified or edited. However, there is an option to update PART B of the same. But if the E-way bill has been generated with any wrong/false information, the same can be cancelled. The E-way bill can be cancelled within 24 hours of generation only. However there is an option with the recipient to reject the E-way bill within 72 hours of generation. When E-Way bill is not required? When E-Way Bill is not required? In the following cases/situations, generation of E-Way bill is not required : 1. When the value of goods transported is less than Rs.50,000 except in case of interstate transfer of handicraft goods and goods sent by Principal to Jobworker 2. When the mode of transport is non-motored vehicle 3. When the goods are transported under custom seal or supervision 4. When the goods are being transported in rail either by Central Government, State Government or local authority 5. When goods are transported through customs ports, airports, air cargo complexes, and land customs stations to ICD or CFS for custom clearance. 6. When goods are transported by the Ministry of Defence 7. When goods are transported to or from Nepal or Bhutan 8. When goods fall under the category of non-supply of goods under Schedule III of CGST Act. 9. Part B of E-Way Bill is not required to be filled where the distance between the consigner or consignee and the transporter is less than 50 Kms and transport is within the state only. Different State Limits for Generation of E-way Bills Different State Limits for Generation of E-Way Bill The above provisions for generating E-way bills are based on CGST Act and rules . However various state government has provided relief in generation of E-way bills for goods transported within that state in terms of basic exemption limit or in respect of certain specific goods /items. For Example, in Tamil Nadu and Rajasthan, the limit of Rs.50000 has been increased to Rs.1 lakh for generation of E-way bill within the state. Please check the respective State GST website for updates in this regard. Acts and Ruls of CGST regarding E-Way Bill Relevant Act and Rules of CGST regarding E-Way Bill E-way bill system has come into force as per Section 68 of the CGST Act which reads as under : Section 68. Inspection of goods in movement - (1) The Government may require the person in charge of a conveyance carrying any consignment of goods of value exceeding such amount as may be specified to carry with him such documents and such devices as may be prescribed. (2) The details of documents required to be carried under sub-section (1) shall be validated in such manner as may be prescribed . (3) Where any conveyance referred to in sub-section (1) is intercepted by the proper officer at any place, he may require the person in charge of the said conveyance to produce the documents prescribed under the said sub-section and devices for verification, and the said person shall be liable to produce the documents and devices and also allow the inspection of goods. To give effect to above Section, CGST rules has introduced rule 138 which reads as under : Rule 138. Information to be furnished prior to commencement of movement of goods and generation of e-way bill. (1) Every registered person who causes movement of goods of consignment value exceeding fifty thousand rupees- (i) in relation to a supply; or (ii) for reasons other than supply; or (iii) due to inward supply from an unregistered person, shall, before commencement of such movement, furnish information relating to the said goods as specified in Part A of FORM GST EWB-01 , electronically, on the common portal along with such other information as may be required on the common portal and a unique number will be generated on the said portal: Provided that the transporter, on an authorization received from the registered person, may furnish information in Part A of FORM GST EWB-01 , electronically, on the common portal along with such other information as may be required on the common portal and a unique number will be generated on the said portal: Provided further that where the goods to be transported are supplied through an ecommerce operator or a courier agency, on an authorization received from the consignor, the information in Part A of FORM GST EWB-01 may be furnished by such e-commerce operator or courier agency and a unique number will be generated on the said portal: Provided also that where goods are sent by a principal located in one State or Union territory to a job worker located in any other State or Union territory, the e-way bill shall be generated either by the principal or the job worker, if registered, irrespective of the value of the consignment: Provided also that where handicraft goods are transported from one State or Union territory to another State or Union territory by a person who has been exempted from the requirement of obtaining registration under clauses (i) and (ii) of section 24 , the e-way bill shall be generated by the said person irrespective of the value of the consignment. Explanation 1. - For the purposes of this rule, the expression "handicraft goods" has the meaning as assigned to it in the Government of India, Ministry of Finance, Notification No 56/2018-Central Tax , dated the 23rd October, 2018, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1056 (E), dated the 23rd October, 2018 as amended from time to time.] Explanation 2 . - For the purposes of this rule, the consignment value of goods shall be the value, determined in accordance with the provisions of section 15, declared in an invoice, a bill of supply or a delivery challan, as the case may be, issued in respect of the said consignment and also includes the central tax, State or Union territory tax, integrated tax and cess charged, if any, in the document and shall exclude the value of exempt supply of goods where the invoice is issued in respect of both exempt and taxable supply of goods. (2) Where the goods are transported by the registered person as a consignor or the recipient of supply as the consignee, whether in his own conveyance or a hired one or a public conveyance, by road, the said person shall generate the e-way bill in FORM GST EWB-01 electronically on the common portal after furnishing information in Part B of FORM GST EWB-01 . (2A) Where the goods are transported by railways or by air or vessel, the e-way bill shall be generated by the registered person, being the supplier or the recipient, who shall, either before or after the commencement of movement, furnish, on the common portal, the information in Part B of FORM GST EWB-01 : Provided that where the goods are transported by railways, the railways shall not deliver the goods unless thee-way bill required under these rules is produced at the time of delivery. (3) Where the e-way bill is not generated under sub-rule (2) and the goods are handed over to a transporter for transportation by road, the registered person shall furnish the information relating to the transporter on the common portal and the e-way bill shall be generated by the transporter on the said portal on the basis of the information furnished by the registered person in Part A of FORM GST EWB-01 : Provided that the registered person or, the transporter may, at his option, generate and carry the e-waybill even if the value of the consignment is less than fifty thousand rupees: Provided further that where the movement is caused by an unregistered person either in his own conveyance or a hired one or through a transporter, he or the transporter may, at their option, generate the e-way bill in FORM GST EWB-01 on the common portal in the manner specified in this rule: Provided also that where the goods are transported for a distance of up to fifty kilometers within the State or Union territory from the place of business of the consignor to the place of business of the transporter for further transportation, the supplier or the recipient, or as the case may be, the transporter may not furnish the details of conveyance in Part B of FORM GST EWB-01 . Explanation 1 . - For the purposes of this sub-rule, where the goods are supplied by an unregistered supplier to a recipient who is registered, the movement shall be said to be caused by such recipient if the recipient is known at the time of commencement of the movement of goods. Explanation 2 . - The e-way bill shall not be valid for movement of goods by road unless the information in Part-B of FORM GST EWB-01 has been furnished except in the case of movements covered under the third proviso to sub-rule (3) and the proviso to sub-rule (5). (4) Upon generation of the e-way bill on the common portal, a unique e-way bill number (EBN) shall be made available to the supplier, the recipient and the transporter on the common portal. (5) Where the goods are transferred from one conveyance to another, the consignor or the recipient, who has provided information in Part A of the FORM GST EWB-01 , or the transporter shall, before such transfer and further movement of goods, update the details of conveyance in the e-way bill on the common portal in Part B of FORM GST EWB-01 : Provided that where the goods are transported for a distance of upto fifty kilometers within the State or Union territory from the place of business of the transporter finally to the place of business of the consignee, the details of the conveyance may not be updated in the e-way bill. (5A) The consignor or the recipient, who has furnished the information in Part A of FORM GST EWB-01 , or the transporter, may assign the e-way bill number to another registered or enrolled transporter for updating the information in Part B of FORM GST EWB -01 for further movement of the consignment: Provided that after the details of the conveyance have been updated by the transporter in Part B of FORM GST EWB-01 ,the consignor or recipient, as the case may be, who has furnished the information in Part A of FORM GST EWB-01 shall Not be allowed to assign the e-way bill number to another transporter. (6) After e-way bill has been generated in accordance with the provisions of sub-rule (1), where multiple consignments are intended to be transported in one conveyance, the transporter may indicate the serial number of e-way bills generated in respect of each such consignment electronically on the common portal and a consolidated e-way bill in FORM GST EWB-02 maybe generated by him on the said common portal prior to the movement of goods. (7) Where the consignor or the consignee has Not generated the e-way bill in FORMGST EWB-01 and the aggregate of the consignment value of goods carried in the conveyance is more than fifty thousand rupees, the transporter, except incase of transportation of goods by railways, air and vessel, shall, in respect of inter-State supply, generate the e-way bill in FORM GST EWB-01 on the basis of invoice or bill of supply or delivery challan, as the case may be, and may also generate a consolidated e-way bill in FORM GST EWB-02 on the common portal prior to the movement of goods: Provided that where the goods to be transported are supplied through an e-commerce operator or a courier agency, the information in Part A of FORM GST EWB-01 may be furnished by such e-commerce operator or courier agency. (8) The information furnished in Part A of FORM GST EWB-01 shall be made available to the registered supplier on the common portal who may utilize the same for furnishing the details in FORM GSTR-1 : Provided that when the information has been furnished by an unregistered supplier or an unregistered recipient in FORM GST EWB-01 , he shall be informed electronically, if the mobile number or the e-mail is available. (9) Where an e-way bill has been generated under this rule, but goods are either not transported or are not transported as per the details furnished in the e-waybill, the e-way bill may be cancelled electronically on the common portal within twenty four hours of generation of the e-way bill: Provided that an e-way bill cannot be cancelled if it has been verified in transit in accordance with the provisions of rule 138B : Provided further that the unique number generated under sub-rule (1) shall be valid for a period of fifteen days for updation of Part B of FORM GST EWB-01 . (10) An e-way bill or a consolidated e-way bill generated under this rule shall be valid for the period as mentioned in column (3) of the Table below from the relevant date, for the distance, within the country, the goods have to be transported, as mentioned in column (2) of the said Table: - Sl. No Distance Validity period (1) 1. Up to 3[200 km.] One day in cases other than Over Dimensional Cargo 4[or multimodal shipment in which at least one leg involves transport by ship] 2. For every 3[200 km.] or part thereof thereafter One additional day in cases other than Over Dimensional Cargo 4[or multimodal shipment in which at least one leg involves transport by ship] 3. Upto 20 km One day in case of Over Dimensional Cargo 4[or multimodal shipment in which at least one leg involves transport by ship] 4. For every 20 km. or part thereof thereafter One additional day in case of Over Dimensional Cargo 4[or multimodal shipment in which at least one leg involves transport by ship]: Provided that the Commissioner may, on the recommendations of the Council, by Notification, extend the validity period of an e-way bill for certain categories of goods as may be specified therein: Provided further that where, under circumstances of an exceptional nature, including trans-shipment, the goods cannot be transported within the validity period of the e-way bill, the transporter may extend the validity period after updating the details in Part B of FORM GST EWB-01 , if required. 4[Provided also that the validity of the e-way bill may be extended within eight hours from the time of its expiry.] Explanation 1. - For the purposes of this rule, the "relevant date" shall mean the date on which the e-way bill has been generated and the period of validity shall be counted from the time at which the e-way bill has been generated and each day shall be counted as the period expiring at midnight of the day immediately following the date of generation of e-way bill. Explanation 2. - For the purposes of this rule, the expression "Over Dimensional Cargo" shall mean a cargo carried as a single indivisible unit and which exceeds the dimensional limits prescribed in rule 93 of the Central Motor Vehicle Rules, 1989, made under the Motor Vehicles Act,1988 (59 of 1988). (11) The details of the e-way bill generated under this rule shall be made available to the- (a) supplier, if registered, where the information in Part A of FORM GST EWB-01 has been furnished by the recipient or the transporter; or (b) recipient, if registered, where the information in Part A of FORM GST EWB-01 has been furnished by the supplier or the transporter, on the common portal, and the supplier or the recipient, as the case may be, shall communicate his acceptance or rejection of the consignment covered by the e-way bill. (12) Where the person to whom the information specified in sub-rule (11) has been made available does Not communicate his acceptance or rejection within seventy two hours of the details being made available to him on the common portal, or the time of delivery of goods whichever is earlier, it shall be deemed that he has accepted the said details. (13) The e-way bill generated under this rule or under rule 138 of the Goods and Services Tax Rules of any State or Union territory shall be valid in every State and Union territory. (14) Notwithstanding anything contained in this rule, no e-way bill is required to be generated- (a) where the goods being transported are specified in Annexure; (b) where the goods are being transported by a Non-motorised conveyance; (c) where the goods are being transported from the customs port, airport, air cargo complex and land customs station to an inland container depot or a container freight station for clearance by Customs; (d) in respect of movement of goods within such areas as are Notified under clause (d) of sub-rule (14) of rule 138 of the State or Union territory Goods and Services Tax Rules in that particular State or Union territory; (e) where the goods, other than de-oiled cake, being transported, are specified in the Schedule appended to Notification No 2/2017- Central tax (Rate) dated the 28th June, 2017 published in the Gazette of India, Extraordinary, Part II, Section 3 , Sub-section (i), vide number G.S.R 674 (E) dated the 28th June, 2017 as amended from time to time; (f) where the goods being transported are alcoholic liquor for human consumption, petroleum crude, high speed diesel, motor spirit (commonly known as petrol), natural gas or aviation turbine fuel; (g) where the supply of goods being transported is treated as No supply under Schedule III of the Act; (h) where the goods are being transported- (i) under customs bond from an inland container depot or a container freight station to a custom sport, airport, air cargo complex and land customs station, or from one customs station or customs port to another customs station or customs port, or (ii) under customs supervision or under customs seal; (i) where the goods being transported are transit cargo from or to Nepal or Bhutan; (j) where the goods being transported are exempt from tax under Notification No 7/2017-Central Tax(Rate) , dated 28th June 2017 published in the Gazette of India, Extraordinary, Part II, Section 3 , Sub-section (i), vide number G.S.R 679(E)dated the 28th June, 2017 as amended from time to time and Notification No 26/2017 Central Tax(Rate) , dated the 21st September, 2017 published in the Gazette of India, Extraordinary, Part II, Section 3 , Sub-section (i), vide number G.S.R 1181(E)dated the 21st September, 2017 as amended from time to time; (k) any movement of goods caused by defence formation under Ministry of defence as a consignor or consignee; (l) where the consignor of goods is the Central Government, Government of any State or a local authority for transport of goods by rail; (m) where empty cargo containers are being transported; and (n) where the goods are being transported upto a distance of twenty kilometers from the place of the business of the consignor to a weighbridge for weighment or from the weighbridge back to the place of the business of the said consignor subject to the condition that the movement of goods is accompanied by a delivery challan issued in accordance with rule 55 . 5[(o) where empty cylinders for packing of liquefied petroleum gas are being moved for reasons other than supply.] Explanation. - The facility of generation, cancellation, updation and assignment of e-way bill shall be made available through SMS to the supplier, recipient and the transporter, as the case may be. ANNEXURE [(See rule 138 (14)] S. No Description of Goods 1. Liquefied petroleum gas for supply to household and Non domestic exempted category (NDEC) customers 2. Kerosene oil sold under PDS 3. Postal baggage transported by Department of Posts 4. Natural or cultured pearls and precious or semi-precious stones; precious metals and metals clad with precious metal (Chapter 71) 5. Jewellery, goldsmiths' and silversmiths' wares and other articles (Chapter 71) 6[excepting Imitation Jewellery (7117)] 6. Currency 7. Used personal and household effects 8. Coral, unworked (0508) and worked coral (9601) Forms of E-Way Bill Forms of E-Way Bill - Click to Download FORM GST EWB-01 - EWAY BILL FORM GST EWB-02 - CONSOLIDATED EWAY BILL FORM GST EWB-03 - VERIFICATION REPORT FORM GST EWB-04 - REPORT OF DETENTION FORM GST EWB-05 - APPLICATION FOR UNBLOCKING OF FACILITY FOR GENERATING EWAY BILL FORM GST EWB-06 - ORDER FOR PERMITTING/REJECTING APPLICATION FOR UNBLOCKING O F FACILITY FOR GENERATING EWAY BILL Need help with your GST Return? Relax! Our Experts are here to help you out. Just connect with one below. এখনই শুরু কর
- ITR-2 Filing: What Is ITR 2 and Who Can File It? Karr Tax
Discover ITR-2 filing at KarrTax: Learn what is ITR 2, who can file it, and check our competitive ITR 2 filing charges. File with confidence! Visit Now!! ITR - 2: Price List আইটিআর 2 ফিলিংস A.YR.2021-22 তোমারটা নাও ₹1199 Incomes except capital gains Takes 1-2 Days on average. ✅ Expert Assisted ✅ Completely Secure ✅ Affordable Pricing Get Started ₹1999 Incomes including capital gains Takes 1-2 Days on average. ✅ Expert Assisted ✅ Completely Secure ✅ Affordable Pricing Get Started আইটিআর 2 কী? আইটিআর ২ একটি আয়কর রিটার্ন ফর্ম যা করদাতাদের নির্দিষ্ ট বিভাগের জন্য অর্থাৎ ব্যক্তি এবং এইচইউএফের জন্য ব্যবসা এবং পেশা থেকে কোনও আয় না করার জন্য তৈরি করা হয়। আইটিআর ফাইল করার জন্য অন্যান্য কয়েকটি শর্ত অনুসরণ করা দরকার। আমরা সেগুলি নিয়ে আলোচনা করব। কে আইটিআর ফাইল করতে পারে 2 - যোগ্যতা আইটিআর -২ ফর্মটি ব্যক্তি এবং এইচইউএফ (আবাসিক বা অনাবাসী উভয়ই) আয়ের উত্সের নিম্নোক্ত উত্স সম্বলিত তাদের আয়ের ফেরত দাখিল করতে ব্যবহার করতে পারেন: বেতন / পেনশন একাধিক বাড়ির সম্পত্তি আয় মূলধন লাভ থেকে আয় বৈদেশিক সম্পদ / আয় রয়েছে ৫০০০ টাকারও বেশি কৃষির আয় রয়েছে রুপি আয় করতে বেশি। 50 লক্ষ টাকা কে আইটিআর -2 ফাইল করতে পারে না - অসম্পূর্ণতা আইটিআর -২ ফর্ম ব্যবসায় / পেশা থেকে স্বত্বাধিকারী হিসাবে বা অংশীদার হিসাবে প্রাপ্ত কোনও ব্যক্তি দ্বারা ফাইল করা যাবে না। এছাড়াও এই ফর্মটি কোনও ফার্ম, সংস্থা, এলএলপি বা অন্য কোনও সত্তা ব্যবহার করতে পারবেন না। Schedule Capital Gains in ITR-2 is a critical section for reporting gains or losses from the sale of capital assets like property, stocks, or mutual funds during the financial year. Agriculture income in ITR-2 also requires detailed disclosure if it exceeds the specified exemption limit. Taxpayers often seek guidance through videos or tutorials for ITR-2 filing, understanding its eligibility criteria and the reasons why ITR-2 is filed due to its specific requirements for reporting various income sources and assets. Filing ITR-2 online demands accuracy and attention to detail, ensuring complete disclosure of all relevant income sources and assets, leading to a smooth tax filing process and compliance with income tax regulations. ফাইলিং আইটিআর -২ এর জন্য প্রয়োজনীয় ডকুমেন্টস বেতন স্লিপ / শংসাপত্র / ফর্ম -16 অন্যান্য উত্স যেমন এফডিআর সুদ / পোস্ট অফিস সুদ থেকে যে কোনও আয়ের প্রমাণ। বাড়ির সম্পত্তির বিবরণ থেকে আয় ফর্ম 16 এ যদি থাকে ট্যাক্স-সঞ্চয় বিনিয়োগের প্রুফ বিভাগ 80D থেকে 80U এর অধীনে ছাড় ব্যাংক / অন্য কোনও প্রতিষ্ঠান থেকে গৃহ statementণের বিবরণী আধার কার্ড প্যান কার্ড বিদেশী সম্পদ / আয়ের বিবরণ How To Fill ITR 2 Online Filing ITR-2 online involves a step-by-step process outlined by the Income Tax Department for taxpayers with specific sources of income and assets. ITR-2 is used by individuals and Hindu Undivided Families (HUFs) to report income from various sources, including capital gains, foreign assets, agricultural income exceeding a specified limit, and income from multiple properties. Understanding how to file ITR-2 online is crucial, and individuals can access the Income Tax Department's e-filing portal to complete the process. It's essential to provide accurate details regarding Schedule AL, which includes information about assets and liabilities held at the end of the fiscal year, ensuring comprehensive disclosure for tax assessment. Similarly, including Schedule AMTC aids in declaring deductions and adjustments under Chapter VI-A, contributing to accurate tax calculations and compliance when filing ITR-2. Which Tax Regime should you choose? Old Tax Regime vs New Tax Regime Check which one is applicable for you INCOME TAX RETURN ITR-2 Here we will discuss the details required to be filled in ITR-2. PART-A - GENERAL INFORMATION Part A of the ITR-1 contains some general information such as Name, PAN, Date of birth, Mobile No. , Email ID, Aadhar No., type of filing, nature of Employment, whether the filing id original or revised, whether the filing is u/s 139 i.e. on time or belated etc. Also it asks whether you are opting for New Tax Regime u/s 115BAC. The details relating to Residential Status, Directorship in companies and Equity Shareholding in non-listed entities are also required to be disclosed in this part of the ITR. SCHEDULE S- DETAILS OF INCOME FROM SALARY In this Schedule, the name and address of the employer with TAN and nature of Employment is also required alongwith all the details of Salary and other allowances and perquisites recieved. SCHEDULE HP - DETAILS OF INCOME FROM HOUSE PROPERTY In this Schedule, the Address of the property alongwith names and Pan of the co-owners are required to be filled. Also the details of the tenant such as name, PAN are required. Complete details of Rent received, annual rent alongwith all the deductions claimed from rental income has to be entered. You can add multiple house property details here. SCHEDULE CG - CAPITAL GAINS This is a long schedule which is divided into Short Term & Long Term Capital Gains. Full & complete details of each and every item has to be provided including all deductions claimed from such gains. Also there is seperate Schedule of Section 112A wherein scripwise details have to be entered for taking benefits of grandfathering clause as on 31st Jan.2018. Also the set-off of short term and long term capital gains details are to be entered. The bifurcation of Short Term & Long term capital gains quarterwise also needs to be entered so that the interest liability u/s 234C can be correctly analysed and calculated. From A.Yr.2023-24, Schedule VDA - Income from transfer of Virtual Digital Assets has been newly added for reporting of transactions relating to virtual digital assets. SCHEDULE OS - INCOME FROM OTHER SOURCES In this Schedule, each and every detail relating to Income from Other Sources has to be entered. Also the deductions claimed from other source income are to be entered in details. Here also bifurcation of income from Dividends and winnings from lottery, puzzles, games etc. has to be provided quarterwise for calculation of interest u/s 234C. SCHEDULE CYLA - DETAILS OF INCOME AFTER SETOFF OF CURRENT YEAR LOSSES Under this Schedule, the current year losses under head House Property and other sources are allowed to be adjusted from Current year's income of Salaries, House Property, Capital Gain and other sources as per the provisions of Income Tax. SCHEDULE BFLA - DETAILS OF INCOME AFTER SET OFF OF BROUGHT FORWARD LOSSES OF EARLIER YEARS Under this Schedule, the brought forward losses of earlier years are allowed to be set off against current year's remaining income as per the provisions of the Act. SCHEDULE CFL - CARRIED FORWARD LOSSES This Schedule requires the details of last 8 years brought forward losses and adjustment of same against current year's income and the losses which remained and carried forward for future adjustments. SCHEDULE VIA - DEDUCTIONS UNDER THE CHAPTER VIA This Schedule requires figures of deductions claimed under Chapter VIA such as 80C, 80CCC, 80CCD, 80E, 80D etc. SCHEDULE 80G - DETAILS OF DONATIONS UNDER SECTION 80G This schedule required complete details in respect of donations given under Section 80G both entitled to 100% and 50% deductions including name, address, pan of the organisation alongwith mode of payment etc. SCHEDULE 80GGA - DETAILS OF DONATIONS FOR SCIENTIFIC RESEARCH OR RURAL DEVELOPMENT The relevant details to be entered if claiming exemption under this section. SCHEDULE AMT - ALTERNATE MINIMUM TAX UNDER SECTION 115JC This Schedule requires calculation of Tax payable u/s 115JC i.e. alternate minimum tax. SCHEDULE AMTC - CALCULATION OF TAX CREDIT U/S 115JD This Schedule requires the adjustment calculation of any tax credit availed and utilised u/s 115JD. SCHEDULE SPI - INCOME OF SPECIFIED PERSON U/S 64 I.E. MINOR CHILD, SPOUSE ETC. Under this Schedule, details of Income of Minor Child, Spouse etc. specified u/s 64 has to be entered. SCHEDULE SI - SPECIAL INCOME This schedule requires to details of all incomes which fall under Special Income which are taxed at different rates mostly u/s 115 of the Income Tax Act. SCHEDULE EI- EXEMPT INCOME Under this Schedule, complete details of all Income which are claimed to be Exempt has to be provided. SCHEDULE PTI - PASS THROUGH INCOME FROM BUSINESS TRUST, INVESTMENT FUND U/S 115UA, 115UB Complete details of Income from above trust or investment funds has to be provided in this Schedule. SCHEDULE FSI - DETAILS OF INCOME FROM OUTSIDE INDIA AND TAX RELIEF Here, the details of Income earned from outside India in case of Resident and the tax relief (if any) claimed has to be provided alongwith country code and TIN of the country. SCHEDULE TR - SUMMARY OF TAX RELIEF CLAIMED FROM TAXES OUTSIDE INDIA In case of Resident earning Income from outside India and paying tax in that country, the tax relied claimed in India in respect of that income under section 90, 90A or 91 has to be provided here. SCHEDULE FA - DETAILS OF FOREIGN ASSETS AND INCOME FROM ANY SOURCE OUTSIDE INDIA This Schedule requires details of complete assets, bank accounts, demat accounts, any movable or immovable property etc. of any resident in Foreign country and also income if any derived from such assets. The details are to be provided for Calendar year i.e. for A.Yr.23-24 it has to be provided as at 31st Dec. 22. SCHEDULE 5A - INFORMATION REGARDING APPORTIONMENT OF INCOME AS PER PORTUGESE CODE The relevant Information of Spouse as per Portugese code has to be provided here. SCHEDULE AL - ASSETS AND LIABILITIES AS AT THE END OF THE YEAR [APPLICABLE IN CASE] WHERE TOTAL INCOME EXCEEDS RS.50 LAKHS] Complete details of all assets i.e. Immovable and Movable in case of persons earning income above 50 lakhs has to be filled in this Schedule. SCHEDULE - TAX DEFERRED IN ESOP The relevant information - relatable to income on perquisites referred in section 17(2)(vi) received from employer, being an eligible start-up referred to in section 80-IAC has to be provided here. PART B - TI - COMPUTATION OF TOTAL INCOME This schedule is the Summary of all the above Schedules wherein the total income under each head of income is to be summarised to arrive at Gross total income and then Total income. PART B - TTI - TAX ON TOTAL INCOME Under this Schedule, Tax liability is ascertained after providing for rebates and reliefs claimed and also the TDS, advance tax, Self asstt. tax are considered. The Interest u/s 234A, B & C are also calculated so as to arrive at net tax payable or refundable during the year. This Schedule also requires details of all bank accounts held during the year alongwith the account to which refund has to be credited. This Schedule also has sub-schedules for Advance Tax , Self Assessment Tax, TDS and TCS wherein complete details are to be provided as per tax challans, Form 26AS and Form 27D. VERIFICATION Form ITR-2 ends with the Verification section which can be done through Aadhar OTP, digital signature, or other modes of verification. However, if no modes of E-verification are available, then ITR-V acknowledgment generated after e-filing has to be physically signed and sent to CPC-Bangluru within 30 days of filing. হাউস প্রপার্টি আয় সম্পর্কে সব হাউস প্রপার্টি ইনকাম এব ং ইনকাম ট্যাক্সের আওতায় বিভিন্ন বিধান আরো জানুন হাউস প্রপার্টি আয় থেকে হ্রাস সম্পর্কে সব হাউস প্রপার্টি ইনকাম থেকে বিভিন্ন ধরনের ছাড় পাওয়া যায় আরো জানুন আয়কর অধীনে মূলধন লাভ সম্পর্কে সব মূলধন লাভ আয় এবং আয়কর অধীনে বিভিন্ন বিধান সম্পর্কে সব আরো জানুন আয়কর অধীনে স্বল্পমেয়াদী এবং দীর্ঘমেয়াদী মূলধন লাভ মূলধন লাভ আয় এবং আয়কর অধীনে বিভিন্ন বিধান সম্পর্কে সব আরো জানুন কৃষি জম ি বিক্রিতে মূলধন লাভ কৃষি জমি বিক্রিতে করের বিধান - আরো জানতে চাই ? আরো জানুন নির্দিষ্ট বন্ডে বিনিয়োগে মূলধন লাভের ছাড় -ধারা 54EC নির্দিষ্ট বন্ডে বিনিয়োগ করে কিভাবে দীর্ঘমেয়াদী মূলধন লাভ এড়ানো যায় - আরো জানুন আবাসিক বাড়ির সম্পত্তি বিক্রিতে মূলধন লাভ আবাসিক বাড়ির সম্পত্তি বিক্রিতে মূলধন লাভের বিধান আরো জানুন দীর্ঘমেয়াদী মূলধন সম্পদ (আবাসিক বাড়ি ব্যতীত) 54F বিক্রিতে মূলধন লাভের ছাড় আবাসিক বাড়ি ছাড়া অন্য কোন সম্পদ বিক্রিতে মূলধন লাভ সংক্রান্ত ছাড়ের বিধান আরো জানুন আইটিআর ফাইল করবেন কীভাবে 2 আইটিআর -২ ফাইল করার পদ্ধতি আইটিআর - ২ ফর্ম সরাসরি আয়কর বিভাগের অনলাইন পোর্টালে অনলাইনে আইটিআর -২ অনলাইন ফর্ম পূরণ করে এবং পোর্টালে একই আবেদন করতে পারবেন। اور এটি পোর্টালে এক্সএমএল ফাইল আপলোড করেও ফাইল করা যেতে পারে। এক্সএমএল ফাইল আপলোড করার পরে একই যাচাই করা দরকার। যাচাই মোডটি বৈদ্যুতিনভাবে বা সিপিসি, বাংলালুরুতে ডাকযোগে স্বাক্ষরিত স্বীকৃতি প্রেরণের মাধ্যমে হতে পারে। اور অনলাইনে দায়ের করা আইটিআর -২ যাচাই করার দুটি পদ্ধতি রয়েছে। اور প্রথমটি হল ই-যাচাইয়ের মাধ্যমে যা আধার ওটিপি দ্বারা, ব্যাংক অ্যাকাউন্ট এবং ডিমেন্ট অ্যাকাউন্ট ই-ওটিপির মাধ্যমে হতে পারে। অন্য পদ্ধতিটি হ'ল আইটিআর -2 অনলাইনে ফাইল করার পরে উত্পন্ন স্বীকৃতিটি শারীরিকভাবে স্বাক্ষর করা এবং ফাইলিংয়ের 120 দিনের মধ্যে পোস্টের মাধ্যমে একইটি সিপিসি-বাংলালুরুতে প্রেরণ করা। اور আইটিআর -২ কেবলমাত্র প্রবীণ নাগরিক ব্যতীত অনলাইনে ফাইল করতে হবে। (৮০ বছরের উপরে) اور اور আইটিআর 2 ডাউনলোড করুন ! 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Search options provides ability to search any particular topic, item, page on the Karrtax.in site ট্যাক্স , ব্লগ , কাইট এবং আরও অনেক কিছুর মাধ্যমে অনুসন্ধান করুন
- ITR - 6 | Karr Tax
Effortlessly file your income tax return with ITR-6 using our step-by-step assistance. ITR - 6: Price List আইটিআর 6 টি ফিলিংস এ.আই.আর. 2021-22 তোমারটা নাও Rs 3999 For Companies Takes 1-2 Days on average. ✅ Expert Assisted ✅ Completely Secure ✅ Affordable Pricing Get Started সমস্ত আইটিআর সম্পর্কে 6 ফর্ম এআই। 2020-21 চার্টার্ড অ্যাকাউন্ট্যান্ট কর্তৃক যথাযথভাবে নিরীক্ষিত কোম্পানির সম্পূর্ণ আর্থিক বিবরণী। যদি কোম্পানির টার্নওভার রুপি ছাড়িয়ে যায়। ২ কোটি পৃথক কর নিরীক্ষা u / s 44AB প্রযোজ্য এবং 3CA এবং 3CD আকারে ট্যাক্স অডিট রিপোর্টও পৃথকভাবে ফাইল করতে হবে। ফর্ম 16 এ / 26 এএস ছাড়ের বিবরণ দাবি আইটিআর -6 ফাইল করার জন্য প্রয়োজনীয় ডকুমেন্টস ITR-6 is the specific income tax return form designed for companies, including Section 8 companies or Non-Profit Organizations (NPOs) that do not claim exemption under Section 11 of the Income Tax Act. This form caters to companies other than those that claim exemption under Section 11, such as charitable or religious trusts. Section 8 companies, which are formed for promoting various social causes or charitable objectives, fall under the purview of ITR-6 for reporting their income. Understanding how to file ITR-6 is crucial for these entities to comply with income tax regulations and fulfill their tax obligations, ensuring accurate disclosure of their financial particulars. According to Section 11 of the Income Tax Act 1961, companies not claiming an exemption are req uired to file their IT return in the ITR-6 Form. Which companies are eligible for exemptions under section 11? Organizations whose property income is held for religious or charitable purposes. Political parties recorded under the Representation of the People Act, 1951. NGOs formed under the Societies Registration Act participate in activities like education, healthcare, promotion of culture, etc. Companies under Section 8 of the Companies Act of 2013 doing charity endeavors and social welfare. Who is Eligible For ITR-6 Filing? The ITR-6 return form is furnished by all the companies under the Companies Act 2013 or the earlier Companies Act 1956. However, if an organization’s income source comes from a religious or charitable property, they are not required to file this return form. E-filing Audit Reports If the assessee is required for Audit u/s 44AB and a certified accountant has audited the accounts, then the below details should be submitted to the department, which includes Audit report details, Auditor, and The date of furnishing How To File ITR 6 Filing ITR-6 involves the use of the Income Tax Department's e-filing portal, where companies, including Section 8 companies, can fill, download, and submit the form electronically. This online filing process simplifies tax compliance for these entities, providing a streamlined approach to report their income and maintain accurate financial records. ITR-6 form download is available on the official income tax e-filing portal, allowing companies, including Section 8 companies, to access the necessary form for reporting their income and ensuring compliance with tax regulations. Understanding the taxation norms applicable to Section 8 companies and the relevance of ITR-6 aids these entities in fulfilling their tax responsibilities while contributing to their respective charitable or social causes. Structure of the ITR-6 Form ITR-6 form is divided into two parts: Part A and Part B. Each part has its subsections with multiple schedules. Here, we will explain both of these parts in detail! Part A: General information: This subsection includes basic details such as Taxpayer's name and address PAN (Permanent Account Number) of the company Challan Identification Number Date of filing the return Status of the taxpayer (e.g., company) Details of the audit, if applicable Part A-BS: Balance Sheet: Here, details of the company’s balance sheet, such as the liabilities, current liabilities, share capital, and more, are included. Part A-BS-Ind AS: Here, details of the company’s balance sheet according to the financial year or as on the date of the business combination are included. Part A-Manufacturing Account: This subsection encompasses manufacturing account details related to inventory, such as Opening stock, Closing stock, and Cost of the produced goods. Part A-Trading Account: It requires details related to the company's income and expenditure. Part A-P&L: Profit and Loss Account: Detailed financial statements of the company's profit or the loss incurred during the respective financial year. Part A-OI: Other information: Details about the business activity, partners, shareholding pattern, etc. Part A-QD : Quantitative details Part A-OL: Payment and Receipt account of company under liquidation. Part A -Manufacturing Account-Ind AS Part-B - 42 schedules are there in this section. Here’s a detailed explanation. Tax Payments Advance Tax and Self-Assessment tax payment details. TDS (Tax Deducted at Source) details. TCS (Tax Collected at Source) details. Due Dates For Filing ITR-6 Form How To File The ITR-6 Form ITR-6 return filing involves several steps, as specified below the sequence for filling out parts and schedules. Part A ( and its subsection) All the Schedules Part B ( its subsection) Verification After all the required information is furnished, the IT return is filed online by affixing the assessee's DSC (Digital Signature). Also, if you need assistance regarding ITR-6 return filing, contact us at https://www.karrtax.in/ . No Annexures Required You are not required to include any documents, such as TDS certificates, with your ITR-6 return. Instead, it is recommended that taxpayers compare the taxes deducted, collected, or paid on their behalf with the information in their Tax Credit Statement, also known as Form 26AS . This practice ensures that the details in your return align with the data in Form 26AS and promotes accurate tax filing and compliance. How Karr Tax Can Help You With ITR-6 Return Filing? Assessment & Data Compilation: We are here to assist you in determining if ITR-6 is the appropriate income tax return form for your organization. Our experts will determine the eligibility and provide insights into any exemptions or deductions you may be entitled to. Years of Experience: Karr Tax has a team of tax professionals who are well-versed in Indian tax laws and regulations. They will provide expert guidance and ensure your ITR-6 is accurately filed in compliance with the latest tax rules. Tax Optimization: We will help you identify tax-saving opportunities, deductions, and incentives that may apply to your company. Different Types ITR Filing Services : Our return filing services are not limited to ITR-6, but we offer ITR-1 , ITR-2 , ITR-3 , ITR-4 , and ITR-5 services as well. Compliance and Accuracy: Karr Tax will review your financial statements, schedules, and other documentation to ensure compliance and accuracy in ITR-6 filing. This reduces the risk of errors or dissimilarities that could lead to tax issues. Frequently Asked Questions (FAQs) 1.Who is required to file an ITR-6 return? Companies not eligible for exemption under Section 11 of the Income Tax Act, 1961, such as business companies and charitable trusts , are required to file an ITR-6 form. 2.Who is not eligible for ITR-6 return filing? The below entities are not required to file an ITR-6 return, but they can file the other form according to their eligibility. Individual taxpayers, including salaried employees and professionals. Firms and Limited Liability Partnerships (LLPs) Special Economic Zone (SEZ) Units Entities seeking exemption under Section 11 of the Income Tax Act. 3.Where can I get help with filing ITR-6? You can seek assistance from KarrTax , and we will advise you on various aspects of taxation, including deductions, exemptions, and compliance. 4.What are the penalties for not filing ITR-6 on time? If you fail to file ITR-6 by the due date, you may be liable to penalties and interest on the outstanding tax liability. The penalty amount may vary depending on the delay and the total income. 5.What is the due date for ITR-6 return filing? October 31st, if the company's accounts are audited under the IT Act. November 30th, if the company is required to furnish a report in Form No. 3CEB. July 31st, if the company’s accounts do not require auditing. 6.What documents and information are needed for filing ITR-6? Here is the list of documents required for filing ITR-6. Financial statements, Audited accounts, Profit and loss statements, Balance sheets, and Details of income, Deductions, and Taxes paid আইটিআর 6 ডাউনলোড করুন
- Income Tax Calculator (old vs. new) | Karr Tax
Easily estimate your income tax liability for the financial year. Get accurate results and plan your finances effectively with the Income Tax Calculator! আয়কর ক্যালকুলেটর (পুরাতন বনাম নতুন) What is an Income Tax Calculator? ২০২০ সালের কেন্দ্রীয় বাজেটে অর্থমন্ত্রী নির্মলা সিথারমন ব্যক্তি ও এইচএফ করদাতাদের পুরানো স্কিমের অধীনে কর পরিশোধের জন্য একটি নতুন প্রকল্প চালু করেছেন বা করের একটি নতুন প্রকল্প চালু করা হয়েছে। স্বতন্ত্র / এইচইউএফ-এর কাছে দুটি ট্যাক্স স্ল্যাব যে কোনওটিই সুবিধাজনক between اور পুরানো স্কিমের অধীনে বিভিন্ন ছাড় রয়েছে যেমন অধ্যায় ভিআইএ এর অধীনে, বেতন থেকে স্ট্যান্ডার্ড ছাড়, হাউস প্রপার্টি, আবাসন Interestণের সুদ, ৮০ জি ছাড় ইত্যাদি সকল ছাড় কাটা হয়েছে নতুন ট্যাক্স স্লাবের আওতায়, যেখানে নতুন হার এবং করের স্ল্যাব রয়েছে নির্ধারিত হয়েছে। اور এখানে আমরা উভয় প্রকল্পের আওতায় ট্যাক্স স্ল্যাব এবং করের হারগুলি দেখি: اور 1. পুরানো স্কিম اور বুনিয়াদি ছাড়ের সীমা ২.৫ লক্ষ টাকা اور করের আয় রেঞ্জ اور আড়াই লক্ষ থেকে ৫ লক্ষ ৫% ৫ লক্ষ থেকে ১০ লক্ষ ২০% 10 লক্ষ 30% এর উপরে اور সমস্ত ছাড়গুলি পুরনো স্কিমের অধীনে পাওয়া যাবে অর্থাৎ স্ট্যান্ডার্ড। অনুচ্ছেদ ভিআইএ, 80 জি এবং অন্যান্য 80 টি ছাড়ের অধীনে ছাড়, ছাড় St হাউজ প্রপার্টি থেকে ছাড়, আবাসন loanণের সুদ ইত্যাদি اور 2. নতুন স্কিম اور বুনিয়াদি ছাড়ের সীমা ২.৫ লক্ষ টাকা اور করের আয় রেঞ্জ اور আড়াই লক্ষ থেকে ৫ লক্ষ ৫% 5 লক্ষ থেকে 7.5 লাখ 10% 7.5 লক্ষ থেকে 10 লক্ষ 15% 10 লক্ষ থেকে 12.5 লাখ 20% 12.5 লক্ষ থেকে 15 লক্ষ 25% ১৫ লক্ষ ৩০% এর উপরে اور পুরানো প্রকল্পের আওতায় পাওয়া এই প্রকল্পের আওতায় কোনও ছাড়ের অনুমতি দেওয়া হবে না اور اور আপনি যদি উভয় প্রকল্পে আপনার ট্যাক্স গণনা করতে চান এবং তারপরে কোন বিকল্পটি প্রয়োগ করা উচিত তা সিদ্ধান্ত নিতে চান, আমরা ক্যালকুলেটর সরবরাহ করছি। اور اور Demonstration of Income Tax Calculation Below is a virtual representation of Priya’s Income structure. Basic Salary: Rs.1,00,000 per month HRA: Rs.50,000 per month Special allowance: Rs.21,000 per month Leave Travel Allowance: Rs.20,000 per year Rent Paid: Rs.30,000 per month To calculate the income tax, you must include the income from all the sources in the IT calculator. Salary income House property income Income from capital gains Income from other businesses or professions (such as freelancing or other related work) Income from other sources (such as FD, interest income, etc.) Now, To reduce her taxable income and save on income tax, Priya has made several investments and incurred expenses. She can claim deductions for these investments and expenses under the old tax regime PPF Investment: Priya has invested Rs. 50,000 in a Public Provident Fund (PPF) account. ELSS Purchase: She purchased Equity-Linked Saving Scheme (ELSS) investments worth Rs. 20,000 during the year. LIC Premium: Priya paid Rs. 8,000 as a premium for her Life Insurance Corporation (LIC) policy. Medical Insurance: She paid Rs. 12,000 for medical insurance. Income Tax Calculation Under Old Tax Regime Income Tax Calculation Under New Tax Regime Below is a detailed explanation of how tax has been calculated under the new tax regime. Exemptions & Deductions on Total Income Tax {under New Tax Regime FY 2024-25 [AY 2025-26]} Here are the tax exemptions and deductions available under the new tax regime (introduced under Section 115 BAC) in the Income Tax Act. Additional Employee Costs: Deduction for additional employee-related expenses incurred by employers. Perquisites for Official Purposes: Tax exemption for expenses like meals, accommodation, and transportation related to official duties. Transport Allowance for PwD: Tax relief for Persons with Disabilities (PwD) on travel expenses between their home and workplace. Employer's Contributions to Employees’ NPS Accounts : Deduction available for employer contributions to employees' NPS (National Pension Scheme) accounts. Exemption for Voluntary Retirement Scheme: Income from a voluntary retirement scheme is not taxed. Travel/ Tour/ Transfer Compensation: Deduction for expenses incurred during official travel, tours, or transfers. Gifts of up to Rs. 5,000: Gifts received up to Rs. 5,000 yearly are not taxable. Interest on Home Loan on Lent-Out Property: Deduction available on the interest paid for home loans on rented-out properties. Gratuity Amount: Gratuity received on retirement or death is not subject to tax. Leave Encashment: Tax exemption on the amount received as leave encashment. Deductions on Deposits in Agniveer Corpus Fund: Deduction is available for deposits made in the Agniveer Corpus Fund. Standard Deductions on Family Pension: Standard deductions are available on family pensions received by taxpayers. Conveyance Allowance: Deduction for expenses related to work-related travel. Exemptions & Deductions on Total Income Tax {under Old Tax Regime FY 2024-25 [AY 2025-26]} Section 87A: If your income is Rs. 5 lakhs or below, you can avail of a tax rebate of up to Rs. 12,500. Section 80C: When you invest in tax-saving schemes like ULIP, PPF, National Savings Certificate, ELSS, and similar financial instruments, you can claim a tax deduction of up to Rs. 1.5 lakh on the interest income. Section 80CCD (1B): This clause permits a tax exemption for National Pension Scheme (NPS) contributions up to Rs. 2 lakhs. Section 80G: Donations made to charitable organizations or for scientific research can be fully exempted from taxable income under this section. Section 80D: A tax exemption of up to Rs. 25,000 on medical insurance can be availed on premium payments for yourself and your family. This limit may extend to Rs. 50,000 for senior citizens. Section 80E: For up to 8 years, the interest paid on education loans is fully exempted. Section 80TTA/80TTB: Under Section 80TTA, interest or income from savings accounts up to Rs. 10,000 is waived from taxable income. The limit extends to Rs. 50,000 for senior citizens on all interest forms. Section 80GG: You can avail of a tax exemption for annual house rent payments if you do not receive HRA (House Rent Allowance). Section 10(14): Exemptions for specific allowances such as children's education allowance, hostel allowance, etc. Standard Deduction: Salaried individuals and pensioners can claim a flat deduction of Rs. 50,000. House Rent Allowance (HRA): Tax exemption is available on the portion of salary received as HRA, subject to certain conditions. Leave Travel Allowance (LTA): Exemptions are provided for expenses incurred on domestic travel. How To Use Income Tax Calculator? Below are the easy steps to use the Income Tax Calculator. Step 1. Firstly, access and navigate to the Income Tax Calculator here. Step 2. Select the financial year for which you want to calculate your taxes. Step 3. Choose the appropriate category i.e. Individual, HUF, LLP, Company etc. Step 4. Choose whether you are opting for new tax regime u/s 115BAC Step 5. Choose the gender and category i.e. whether Senior citizen etc. Step 6. Choose Residential Status Step 7. Enter net Taxable Income Step 8. The accurate tax liability will be auto-populated *****Point To Remember: If a particular field does not apply to your financial situation, you can enter "0". Frequently Asked Questions (FAQs) 1. Are income tax calculators accurate? Income tax calculators are generally accurate for estimating tax liabilities, but they may not account for all individual circumstances or recent changes in tax laws. It is advisable to consult with our Karrtax professionals for a precise assessment. 2. Are there different types of income tax calculators? Yes, there are various income tax calculators designed for specific purposes. 3. Do I still need to file a tax return if I use an income tax calculator? Yes, using an income tax calculator is for estimation purposes only. You must still file your tax return with the tax authorities. 4. Are income tax calculators free to use? Many income tax calculators are free to use online. However, some tax preparation software providers offer more advanced calculators or services for a fee. ক্যালকুলেটর জন্য এখানে ক্লিক করুন
- Know about Online India Tax Filings
Online India Tax filings is created with a vision to be market leader in tax filing solution provider in India with best and affordable services. আমাদের সম্পর্কে Made in India, Built for India Read the Story Journey আমাদের পরিষেবা সম্পর্কে অনলাইনইন্ডিয়াটাএক্সফিলিংস.এনএফ একটি অনলাইন ট্যাক্স ফাইলিং পোর্টাল যা প্রত্যক্ষভাবে সম্পূর্ণ অনলাইন এবং প্রত্যক্ষ ও অপ্রত্যক্ষ ট্যাক্স ফাইলিংয়ের ক্ষেত্রে সর্বোত্তম সমাধান প্রদানের দৃষ্টি দিয়ে তৈরি করা হয়েছিল। প্ল্যাটফর্মটি একে অপরকে সাশ্রয়ী মূল্যের ফাইলিং সরবরাহ করার জন্য তৈরি করা হয়েছে যা কোনও ঝামেলা মুক্ত, অনলাইন এবং আপনার বাড়ি বা কর্মস্থল থেকে সরাসরি কোনও অফিস প্রাঙ্গনে না গিয়ে শারীরিকভাবে দেখার জন্য online প্রত্যক্ষ ও পরোক্ষ ট্যাক্স ফাইলিং এবং পরামর্শের ক্ষেত্রে আমাদের বিশেষজ্ঞ চার্টার্ড অ্যাকাউন্ট্যান্টদের একটি বিশ বছর ধরে অভিজ্ঞতা রয়েছে। আমাদের একটি উত্সর্গীকৃত সমর্থন দলও রয়েছে যা আপনাকে ই-ফাইলিং প্রক্রিয়াতে প্রতিটি পর্যায়ে সহায়তা করবে। বর্তমানে আমরা প্রত্যক্ষ ও অপ্রত্যক্ষ ট্যাক্স ফাইলিংয়ের ক্ষেত্রে যেমন আয়কর রিটার্ন ফাইলিং, আইটি নোটিশ হ্যান্ডলিং, সংশোধন অনুরোধ ফাইলিং, টিডিএস রিটার্ন ফাইলিং এবং জিএসটিতে সম্পূর্ণ সমাধানের জন্য রেজিস্ট্রেশন এবং রিটার্ন ফাইলিংয়ের সম্পূর্ণ পরিসেবা সরবরাহ করি। এছাড়াও আমরা সাশ্রয়ী মূল্যের বিনিময়ে প্রত্যক্ষ ও অপ্রত্যক্ষ করের ক্ষেত্রে বিশেষজ্ঞের পরামর্শ প্রদান করি। আমাদের দৃষ্টি সাফল্য পৌঁছেছে মধ্যে প্রত্যক্ষ এবং অপ্রত্যক্ষ ট্যাক্স ফাইলিংয়ের ক্ষেত্রে সহজ, বিস্তৃত এবং ব্যয়বহুল পরিষেবা প্রদানের মাধ্যমে আমরা এই ক্ষেত্রে বৃহত্তম এবং নিবেদিত সেবা প্রদানকারী হওয়ার লক্ষ্য রাখি। প্রান্ত প্রযুক্তিগত উদ্ভাবন এবং গ্রাহককেন্দ্রিক সমাধানের মাধ্যমে আমরা আশা করি আগামী বছরগুলিতে আমাদের কাজটি সম্পন্ন হবে। আমরা শীঘ্রই এই ক্ষেত্রগুলির সাথে সম্পর্কিত আরও এবং আরও পরিষেবা যুক্ত করব যাতে গ্রাহক প্রত্যক্ষ ও পরোক্ষ ট্যাক্স সম্পর্কিত প্রতিটি সমাধান এক জায়গায় এবং সাশ্রয়ী মূল্যে পেতে পারেন। প্রত্যক্ষ ও অপ্রত্যক্ষ করের ক্ষেত্রে বর্তমান প্রযুক্তিগত অগ্রগতির সাথে সমস্ত রিটার্ন ফাইলিং, মূল্যায়ন ইত্যাদি অনলাইনে এবং মুখহীন হয়ে উঠছে, এমন একটি প্ল্যাটফর্মের আরও বেশি বেশি প্রয়োজন রয়েছে যা উন্নত প্রযুক্তিগত উদ্ভাবনের প্রয়োজনগুলিতে পরিষেবা সরবরাহ করতে পারে এবং নিবেদিত গ্রাহক সমর্থন। কর সম্পর্কিত বিষয়গুলি পরিচালনা করার traditionalতিহ্যগত উপায়টি চলে গেছে এবং এখন একই প্রযুক্তিটি উচ্চ প্রযুক্তি চালিত পরিষেবা এবং প্রয়োজনগুলির দ্বারা প্রতিস্থাপিত হয়েছে। আমরা আগামী বছরগুলিতে আমাদের নিবেদিত সমর্থন এবং উদ্ভাবনী প্রযুক্তি চালিত পরিষেবাদি দ্বারা সেগুলি পূরণ করার লক্ষ্য নিয়েছি aim About: Mission আমাদের লক্ষ্য ক্লায়েন্টদের সুখ আমাদের লক্ষ্য অনলাইন ইন্ডিয়া ট্যাক্স ফাইলিংগুলিতে, আমরা বিশ্বাস করতে পারি যে কর প্রস্তুতিমূলক পরিষেবাগুলি সরবরাহ করতে আমরা বিশ্বাস করি। আমাদের ক্লায়েন্টদের সুখ এবং সন্তুষ্টি আমাদের এক নম্বর অগ্রাধিকার। আমাদের হিসাবরক্ষকদের দলটি তাদের সেবা নিষ্ঠা, শ্রেষ্ঠত্ব এবং পেশাদারিত্বের সাথে সম্পাদন করতে প্রতিশ্রুতিবদ্ধ। এই দর্শন আমাদের প্রতিটি মূল্যবান ক্লায়েন্টকে পরিবেশন করার জন্য আমাদের দৃষ্টিভঙ্গিকে আন্ডারলাইন করে। Team of Professional & Trusted Income Tax Consultants in India At Karr Tax, we are your trusted tax consultant in India, providing top-notch taxation services. Our dedicated team of tax experts is committed to simplifying your financial journey. About: Mission About Karr Tax With our online tax filing consultancy, we make income tax return filing in India a breeze. Count on us for all your taxation needs. One of our online tax filing consultant is available 24 hours for your service.
- GST Annual Return Filings | Karr Tax
Navigate the intricacies of GST compliance with Karr Tax and let us handle the intricacies so you can focus on your business growth. GST Annual Return Filings: Price List জিএসটি আঞ্চলিক রিটার্ন ফিটিং তোমারটা নাও বেসিক 5 কোটি টাকা পর্যন্ত টার্নওভারের জন্য বার্ষিক রিটার্ন, اور ২,০০০ টাকা। 5000 এখনই শুরু কর স্ট্যান্ডার্ড টার্নওভারের জন্য বার্ষিক রিটার্ন পাঁচ কোটি টাকা ছাড়িয়েছে তবে আরএস ১০০ কোটির চেয়ে কম। ২,০০০ টাকা। 10000 এখনই শুরু কর প্রিমিয়াম টার্নওভারের জন্য বার্ষিক রিটার্ন Rs। 10 কোটি اور 15000 টাকা এখনই শুরু কর What is GST Annual Return? নতুন জিএসটি শাসনের অধীনে প্রতিটি করদাতা / সত্তাগুলিকে এর অধীন করা বিধি মোতাবেক জিএসটি বার্ষিক রিটার্ন দাখিল করতে হবে। যেহেতু ১ লা জুলাই, ২০১ from সাল থেকে জিএসটি কার্যকর করা হয়েছিল, প্রথম বার্ষিক রিটার্ন এফ.আই.আর. 2017-18 এবং এর নির্ধারিত তারিখ ইতিমধ্যে কেটে গেছে। অতএব বর্তমানে, এফওয়াইয়ারের জন্য জিএসটি বার্ষিক রিটার্ন 2018-19 এবং তারপরে ফাইল করা হবে। বার্ষিক রিটার্ন দাখিলের নির্ধারিত তারিখ অর্থবছরের শেষ দিক থেকে অর্থাৎ ৩১ শে ডিসেম্বর পর্যন্ত 9 মাসের মধ্যে থাকে তবে নির্ধারিত তারিখটি বাড়তে থাকে। এফ.আই.আর. এর বার্ষিক রিটার্নের জন্য নির্ধারিত তারিখ কোভিড -19 মহামারীজনিত কারণে 2018-19 30 শে সেপ্টেম্বর 2020 পর্যন্ত বাড়ানো হয়েছে। বার্ষিক রিটার্ন দাখিল করার আগে, জিএসটিআর -3 বি এবং জিএসটিআর -১ এর মতো সমস্ত রিটার্ন সংশ্লিষ্ট আর্থিক বছরের জন্য জমা দেওয়া উচিত ছিল। What Are The Distinct Types of Annual GST Returns? GSTR-9: Annual Return Entities who exceeds a turnover of ₹2 crores are required to file GSTR-9. It includes details of sales, purchases, input tax credits, and tax liabilities for the entire financial year. GSTR-9A: Annual Return for Composition Taxpayers GSTR-9A applies to taxpayers who have opted for the composition scheme . This form encompasses details related to composition scheme transactions and addresses their specific needs. GSTR-9B: Annual Return for E-commerce Operators The e-commerce operators who have filed GSTR-8 need to file GSTR-9 and are required to collect tax at source (TCS) under section 52 (5) of the CGST Act, 2017. GSTR-9C: Reconciliation Statement and Certification Every individual whose turnover during a financial year exceeds Rs.5 crore rupees should file GSTR-9C. It comprises two parts – a reconciliation statement reconciling the taxpayer's financial statements with the GST returns and the certification part. বার্ষিক ফেরতের প্রকার GSTR-9 is primarily meant for regular taxpayers registered under GST and businesses operating under standard tax provisions. Who is Ineligible for GSTR-9 Return Filing? Composition Scheme Taxpayers who have been selected for the composition scheme under GST but need to file GSTR-9A. Non-Resident Taxpayers who do not have a fixed place of business in India. Input Service Distributors (ISD) who distribute input tax credits to their branches or units. Casual Taxpayers who occasionally undertake supply of goods and services transactions in a state or Union Territory where they do not have a regular place of business. Entities who are deducting or collecting Tax Deducted at Source (TDS). What Is The Last Date for GST Annual Return Filing? The last date for GST annual return filing is the 31st of December, the year following the relevant financial year. But if not filed on time, the following penalties will be levied. Penalties For Late GSTR-9 Filing There's an amnesty scheme if you missed filing GSTR-9 for 2017-18 up to 2021-22. If you file it between April 1, 2023, and June 30, 2023, and your late fees are more than ₹20,000 (Rs. 10,000 for CGST and SGST), they will be waived. For those with a turnover up to ₹5 crore, filing GSTR-9 after the due date incurs a late fee of ₹50 per day (Rs. 25 for CGST and SGST), with a maximum cap of 0.04% of turnover in the state/UT. Before the financial year 2022-23, if you missed the due date for filing GSTR-9, the penalty was ₹200 per day. This consisted of ₹100 for State GST (SGST) and ₹100 for Central GST (CGST). However, there was a cap, and the penalty couldn't exceed 0.25% of your total turnover on which the penalty was applied. From the financial year 2022-23 onward, if your turnover is up to ₹5 crores, the penalty is reduced to ₹50 per day. Of this, 25 goes to SGST, and ₹25 goes to CGST. If your turnover exceeds ₹5 crores, the penalty is ₹100 per day, with ₹50 for SGST and ₹50 for CGST. Prerequisites for filing GSTR-9 To file GSTR-9, you must be a regular taxpayer under GST for at least one day a year. When you fill out GSTR-9, you need to share basic info about your business for the year, like what you sold, what you bought, the taxes you paid, any refunds you claimed, and if there were any issues with the tax authorities. Before doing GSTR-9, ensure you've already filed GSTR-1 and GSTR-3B for the same year because GSTR-9 collects data from these forms. Details Required For GSTR-9 Return Filing The GSTR-9 form is divided into 6 parts and 19 sections, including details of supplies made. Here’s a detailed explanation. Part-1: Basic Information This section includes the financial year, taxpayer’s GSTIN , legal, and trade name (if any). Part-2: Details of Outward and Inward Supplies It consists breakdown of supplies made and received during the particular financial year. Part-3: Details of Input Tax Credit (ITC) This part consolidates details of the ITC availed during the financial year. From 6A to 6O, includes details of ITC availed on various inward supplies. From 7A to 7J, include details of ITC Reversed and Ineligible ITC. From 8A to 8K, include details of other ITC-related information. Part-4: Tax Paid Details Part-5: Transactions Particulars For The Previous Financial Years This part of the form covers transactions from the last financial year that were reported in the returns filed from April to September of the current financial year or until the date when the annual return for the previous financial year was filed—whichever happened first. Part-6: Other Information The final part encompasses details of Particulars of demands and refunds Total demand for taxes Total taxes paid Supplies information received from composition taxpayers Summary of outward and inward supplies HSN-wise Late fee payable and paid. How Karr Tax Can Assist You With GST Annual Filing ➔Expert Guidance We have a team of experts who are there for you to provide expert guidance . Our process starts with understanding the business aspects that may influence GST compliance. Then, according to the intricacies, we choose a customized compliance plan that ensures a smooth filing process. ➔Customized Pricing Plans Our pricing plans are divided into three categories according to each client's unique requirements. Here’s the breakdown. Basic at ₹3999 Standard at ₹7499 Premium at ₹9999 If you need any assistance regarding which plan to go for, contact our experts , who will help you with all your queries. ➔Real-Time Support With our dedicated communication channels, including email, phone, and messaging platforms, we offer real-time support to our clients. The GST filing process involves various aspects, and it's obvious to seek clarification on specific elements. So, if you have questions about specific entries in the GSTR-9 form or encounter uncertainties during the filing process, our experts can provide you with detailed explanations and clarification. ➔Post-Filing Support At Karr Tax, we believe in building strong business relations with our clients. That’s why our support does not stop once the GST Annual Filing is submitted. We proactively monitor for any communications or inquiries from tax authorities and anticipate potential queries that may arise during the compliance process. ➔360 GST Return Filing Service s Our services are not limited to GST annual return filing, but we offer 360 GST return filing services , which include everything from GST registration to quarterly returns (GSTR-1 and GSTR-3B) and annual filings (GSTR-9). The best part? Our prices are structured to be accessible for businesses of all sizes, whether you're a small startup or a larger enterprise. However, affordability does not mean that we compromise on our services. Yet, we believe in providing affordable yet high-quality services. Frequently Asked Questions (FAQs) 1.What is the GSTR-9 form, and who is eligible for its filing? GSTR-9 is an annual return that comprehensively summarizes a taxpayer's activities throughout the financial year, including sales, purchases, input tax credit availed, and tax paid details. Now, who is eligible for its filing? So, all the registered taxpayers are required to file this form except: Non-Resident Taxpayers Causal Taxpayers Input service distributors Entities who are deducting or collecting Tax Deducted at Source (TDS). 2.Can I file a “NIL” GSTR-9 return? The eligibility criteria below should met for “NIL” GSTR-9 return filing. Zero Outward Supply No credits or refunds to be claimed Zero Receipt of Goods/Services No Other Reportable Liabilities Non-Claimed Credits No Outstanding Late Fees Absence of Demand Orders 3. Can the filed GSTR-9 be revised? No, it is not possible to revise GSTR-9 once it is filed. That’s why reviewing the information before submission is crucial to ensure accuracy. 4.Is GSTR-9A & GSTR-9C the same? No, these forms are totally different. GST-9A is the annual return filed by the Composition Dealer, consolidating their annual turnover details, while GSTR-9C is a reconciliation statement and audit report under GST. 5. Can GSTR-9 be amended? No, it is not possible to amend GSTR-9. 6. Should the GSTR-9 return be filed at the entity level or GSTIN level? Form GSTR-9 return should be filed at the GSTIN level, which means it needs to be done for each unique GST registration. If a taxpayer holds multiple GST registrations in the same or different states under the same PAN, the requirement is to submit the annual return separately for each registration. This applies to cases where the GSTIN was registered as a normal taxpayer during the financial year, either for a specific duration or for the entire financial year. Taxpayers must recognize the individual nature of each GST registration and fulfill the annual return obligation for each one accordingly.
- Income Tax and GST Calendar - June 2024 | Karr Tax
Income Tax, GST, and TDS Due Date Calendar for June 2024. GST Return Filing Due Date for June 2024. Due Date Calendar Direct and Indirect Taxes for August, 2024 The calendar for April 2024 has not been updated yet. Our team is working on it and it should be available soon. Check back later TDS/TCS Payment For TDS/TCS Deducted During Last Month 07-Aug-24 Contact Tax Expert Gstr-IFF Monthly For QRMP Scheme Filers 13-Aug-24 Contact Tax Expert Gst Payment - Monthly For Qrmp Scheme Filers 25-Aug-24 Contact Tax Expert Downloading Of Form 16A -Quarterly Tds Certificates 15-Aug-24 Contact Tax Expert Gstr-1 For Turnover > 5 Cr. Or Those Who Had Opted For Monthly Filing 11-Aug-24 Contact Tax Expert Gstr- 5 Due Date 13-Aug-24 Contact Tax Expert Gstr - 6 Due Date 13-Aug-24 Contact Tax Expert Gstr-3B Monthly For Turnover > 5 Cr. Or Monthly Opted Filers 20-Aug-24 Contact Tax Expert Form 9 & 10 For Accumulation Of Income - Trusts Etc. 31-Aug-24 Contact Tax Expert Gstr - 8 Monthly Due Date 10-Aug-24 Contact Tax Expert The calendar for 2024-25 serves as a vital tool for businesses to adhere to compliance regulations and stay updated on GST due dates, ITR filing deadlines, and TDS payment schedules. This comprehensive Income Tax, GST, TDS compliance calendar outlines the ITR and GST return due dates and payment dates for 2024, ensuring businesses are aware of their tax responsibilities. It provides clear guidance on the GST and Income Tax Return due date calendar, enabling timely filing of returns and payments. Additionally, businesses can track the ITR and GST annual return due date extension if any changes or extensions are announced by the authorities. Staying informed about the Income Tax, GST payment dates in 2024 is crucial for ensuring timely and accurate tax filings, contributing to seamless compliance with GST , ITR and TDS regulations, and avoiding penalties.
- Get Your 80G Registration Done with KarrTax: Tax Deductions Made Easy
Learn how 80G registration can help your NGO gain valuable tax benefits. Get started on your fundraising journey now! ট্রাস্ট / সোসাইটি / এনজিও 80 জি পুনর্নবীকরণ / আয়করের আওতায় নিবন্ধনের জন্য আবেদন করুন স্ট্যান্ডার্ড ট্রাস্ট / সোসাইটি / সেকশন 8 কোম্পানির 80 জি রেজিস্ট্রেশন / আয়কর আয়ের আওতায় অনলাইনে আবেদন করুন Rs.1999 এখনই শুরু কর ইনকাম ট্যাক্সের আওতায় ট্রাস্ট / সোসাইটিগুলির জন্য নবায়ন / নিবন্ধন U / s 80G 2021 সালের 1 লা এপ্রিল থেকে কার্যকর সর্বশেষ সংশোধনী What is 80G Registration? ট্রাস্ট, সমিতি বা অধ্যায় 8 সংস্থাগুলি দাতব্য বা ধর্মীয় কাজ করে এবং প্রায়শই সাধারণ মেয়াদে এনজিও বা এনপিও নামে অভিহিত হয়। অর্থাত্ তারা অলাভজনক বা বেসরকারী সংস্থাগুলি কোনও লাভের উদ্দেশ্য ছাড়াই সাধারণ মানুষের কল্যাণে কাজ করে। اور ভারত একটি বিস্তৃত দেশ, যার সংখ্যাগরিষ্ঠ জনগোষ্ঠী দারিদ্র্য, নিরক্ষরতা এবং স্বল্প-উন্নয়নতে ভুগছে। দরিদ্রদের জন্য ত্রাণ, পরিবেশ সংরক্ষণ, শিক্ষা, চিকিত্সা বা সাধারণ জনগণের উপযোগের যে কোনও বিষয়ে ভারতে প্রচুর সংখ্যক এনজিও / এনপিও কাজ করছে। اور এই এনজিওগুলি সাধারণত নিবন্ধিত হয়: (1) ট্রাস্ট (২) সমিতি বা (৩) কোম্পানি আইনের আওতাধীন ৮ ধারা company اور এই এনজিওগুলিকে অনুদান প্রদানকারী যে কোনও ব্যক্তি তার আয়কর এর 80 / u আয় থেকে কর কেটে নেওয়ার অধিকারী হবে তবে শর্ত থাকে যে প্রতিষ্ঠান / ট্রাস্ট ইত্যাদি আয়কর আইনের UGS 80G নিবন্ধিত রয়েছে। اور এখানে আমরা ইনকাম ট্যাক্সের u / s 80G এর এনজিওগুলিতে নিবন্ধকরণ / নবায়নকরণের নতুন বিধান সম্পর্কে সমস্ত আলোচনা করব এবং কীভাবে আবেদন করতে হবে সে সম্পর্কেও আপনাকে গাইড করব। اور প্রথমে আমরা এই এনজিওগুলির নবায়ন / নিবন্ধন u / s 80G সম্পর্কিত পরিবর্তন কি হিসাবে আয়কর আইনটি দেখুন। اور উল্লেখযোগ্য পরিবর্তনগুলি নিম্নরূপ: اور ১. ২০২১ সালের ১ লা এপ্রিল সংশোধনীর আগে, যে সকল এনজিও ইতিমধ্যে আয়করের 80/80 গ্রাহক নিবন্ধিত ছিল তাদের রেজিস্ট্রেশন দেওয়া হয়েছিল যা আয়কর সময়ের জন্য কার্যকর ছিল এবং যতক্ষণ না আয়কর কর্তৃপক্ষ কর্তৃক এটি বাতিল না করা হয় ততক্ষণ পর্যন্ত তারা ছিল পুনরায় নিবন্ধন করার প্রয়োজন নেই। اور ২. ২০২১ সালের ১ লা এপ্রিল থেকে, ধারা 80G (5) এ সংশোধনী চালু করা হয়েছে যাতে এই এনজিওগুলির নিবন্ধন / নিবন্ধন / নবায়ন আনুষ্ঠানিকতায় সম্পূর্ণ পরিবর্তন রয়েছে। এইগুলো : اور (ক) আয়কর আইনের ইউএসএস জি ইতিমধ্যে নিবন্ধিত প্রতিটি ট্রাস্ট / সোসাইটি / সেকশন ৮ সংস্থাকে ৮ এপ্রিল ২০২১ থেকে ৩০ শে জুন ২০২১ অবধি months মাসের মধ্যে ৮০ জি নিবন্ধন / নবায়নের জন্য পুনরায় আবেদন করতে হবে । اور (খ) যে কোনও নতুন এনজিও যিনি এর আগে নিবন্ধভুক্ত হয়নি এবং নতুনভাবে আবেদন করতে চায় সে কেবলমাত্র অস্থায়ী নিবন্ধন অনুমোদিত হবে এবং তাও 3 বছরের জন্য এবং নিবন্ধনের জন্য বা তার কার্যক্রম শুরুর পরে তিন বছরের পরে পুনরায় আবেদন করতে হবে যেটাই আগে. اور (গ) প্রদত্ত নিবন্ধনটি কেবলমাত্র তিন বছরের জন্য হবে এবং মেয়াদ শেষ হওয়ার পরে এটি আবার ৩ বছরের জন্য পুনর্নবীকরণ করতে হবে। اور (ঘ) নিবন্ধন নবীনকরণের জন্য আবেদনপত্রগুলি ৮০ বছর বয়সে অর্থাৎ তিন বছরের মেয়াদ শেষে মেয়াদ শেষে months মাসের আগে আবেদন করতে হবে। اور (ঙ) এনজিওর u / s 80G নিবন্ধনের আদেশটি মাসের শেষের থেকে 3 মাসের মধ্যে পাস করা হবে যেখানে সংস্থার আগেই সংশোধনীর আগে নিবন্ধিত এনজিওদের ক্ষেত্রে আবেদন করা হয়েছে। অন্যান্য ক্ষেত্রে, আদেশ পাসের সময়সীমা 6 মাস হবে। এনজিওগুলি 3 বছর পরে আবারও আবেদন করে বা এনজিওগুলিকে অস্থায়ী নিবন্ধকরণ মঞ্জুর করা হলে, প্রিন্সিপাল কমিশনার প্রাসঙ্গিক কমিশনার সমস্ত প্রাসঙ্গিক তথ্য এবং নথিপত্রের জন্য অনুরোধ করবেন যাতে এনজিওটি খাঁটি এবং কার্যক্রমটি যথাযথভাবে পরিচালিত হচ্ছে তা সন্তুষ্ট করতে পারে। কেবল সন্তুষ্ট হওয়ার পরে, নিবন্ধন 80 / গিগল পুনর্নবীকরণ করা হবে। অসন্তুষ্টি হলে আবেদনটি বাতিল হতে পারে। আবেদন প্রত্যাখ্যান করার আগে, শোনা যাওয়ার উপযুক্ত সুযোগটি এনজিওগুলিকে সরবরাহ করতে হবে। اور এখন আমরা বেসরকারী সংস্থাগুলির নিবন্ধকরণের পদ্ধতি সম্পর্কে যে বিধি তৈরি করা হচ্ছে তা লক্ষ্য করি। এই ক্ষেত্রে, নিয়ম 11AA সন্নিবেশ করা হয়েছে যা এনজিওগুলির 80G / u র নিবন্ধনের জন্য নিম্নলিখিত পদ্ধতি সরবরাহ করে। اور এতে বলা হয়েছে: اور ১. যে কোনও এনজিও / ট্রাস্ট / সোসাইটি / সেকশন ৮ কোম্পানী যিনি ইতিমধ্যে আমাদের এপ্রিল, ২০২১ এর আগে ৮০ জি নিবন্ধিত হয়েছে বা নতুন নতুন এনজিওগুলি আবেদন করছে তাদের ফর্ম নং ১০ এ এ নিবন্ধনের জন্য আবেদন করতে হবে। اور ২) উপরের বিভাগে না আসা অন্য যে কোনও এনজিওর ফর্ম নং ১০ এএবিতে আবেদন করতে হবে। اور ৩. ফর্ম 10 এ বা 10 এবি-তে আবেদনটি নিম্নলিখিত নথিগুলির সাথে সংযুক্ত করার জন্য করা হবে: اور (ক) ট্রাস্ট ডিড বা ইনস্ট্রুমেন্ট যার মাধ্যমে এনজিও তৈরি করা হয়েছে - স্বতঃ প্রত্যয়িত (খ) ট্রাস্ট / সোসাইটি / বিভাগ ৮ কোম্পানির নিবন্ধকরণ শংসাপত্র - স্ব স্বীকৃত (গ) এফসিআরএর নিবন্ধকরণ শংসাপত্রের অনুলিপি - স্বীকৃত (যদি এনজিও সেই আইনের অধীনে নিবন্ধিত থাকে) (d) আয়কর 80G এর অধীনে নিবন্ধকরণ শংসাপত্রের অনুলিপি - স্বতঃ প্রত্যয়িত (ঙ) এনজিওগুলির বার্ষিক হিসাবের অনুলিপি যদি সে বছরের আগে বিদ্যমান থাকে যেখানে নিবন্ধকরণের জন্য আবেদন করা হয়েছে (3 বছর পর্যন্ত) - ইতিমধ্যে নিবন্ধিত এনজিওগুলির ক্ষেত্রে একই প্রয়োজন নেই (চ) অবজেক্টগুলির ক্ষেত্রে পরিবর্তন বা সংশোধন করা হয়েছে, একইরূপে একটি দলিল (ছ) কার্যক্রম সম্পর্কিত নোটসমূহ on اور ৪. ফর্ম নং ১০ এ বা ১০ এবি আয়কর ওয়েবসাইটে (www.incometaxindiaefiling.gov.in ) লগ ইন করে অনলাইনে সজ্জিত করা হবে এবং ই-যাচাই বা ডিজিটালি স্বাক্ষরিত হতে হবে। اور Benefits of 80G Registration 80G registration offers several benefits for both charitable organizations and donors. Here are the detailed pointers justifying this statement. Benefits for Charitable Organizations: 80G registration increases the credibility and trustworthiness of a charitable organization. It generates a sense of trust between potential donors that their contributions will be used for genuine charitable purposes. Charitable trusts with 80G registration receive tax-exempt donations. Charities can expand their reach and impact with 80G Registration as they receive greater attention and support from the media and the public. Having 80G Registration opens doors to potential collaborations and funding from government sources. 80G registration requires proper record-keeping and financial transparency. This fosters good governance practices within the organization, which helps them to build trust with donors and stakeholders. Benefits for Donors: Donors can claim deductions on the amount they donate to organizations with 80G registration. As a result, this encourages more people and businesses to contribute to the organization's causes. Businesses that are donating to organizations with 80G registration can help fulfill their CSR obligations as mandated by the Companies Act, 2013. Donors can easily claim deductions by providing proof of their donations, such as donation receipts issued by the registered charitable organization. Required Documents For 80G Registration The following documents are required for 80G registration. The organization's Permanent Account Number (PAN) card copy is required to establish its identity for taxation purposes. According to the legal structure, documents outlining the organization's objectives, governance structure, and rules are mandatory. These documents comprise a copy of the trust deed, memorandum of association (MoA), and articles of association. For the last three to five years, copies of audited financial statements, including balance sheets, income statements, and audit reports are required. A detailed description of the charitable activities undertaken by the organization is needed, along with evidence of how funds have been utilized for the same. This may include project reports, receipts, and invoices. To prove legal existence, the organization should include a copy of its registration certificate under the relevant law, such as the Indian Trusts Act, Societies Registration Act, or Companies Act. Documents or declarations demonstrating the organization's non-profit motive should be submitted. In case the organization receives foreign contributions, a copy of its registration under the Foreign Contribution Regulation Act (FCRA) should be included. (if applicable) Mandatory Requirement of Darpan ID for 80G Registration Charitable organizations seeking registration or revalidation are now required to provide details of their registration number with the Darpan portal of Niti Aayog. This significant requirement has emerged in recent years and must be followed. Key Pointers: The Darpan portal is administered by the Niti Aayog (National Institution for Transforming India). It is a central platform for registering and monitoring NGOs and voluntary organizations across India. This mandatory requirement of providing a Darpan ID is aimed at enhancing transparency in the operations of charitable organizations. Darpan ID serves as a means of cross-verification to confirm the legitimacy and compliance of these organizations. By linking Section 80G registration to the Darpan portal, the government can take measures to prevent the misuse of tax benefits. Eligibility For 80G Registration Not all charitable organizations or trusts are eligible for 80G registration. To qualify, an organization must meet the below criteria. The organization seeking 80G registration should be legally established and registered under one of the following structures: A trust that has been authorized by the Indian Trusts Act of 1882. A society registered under the Societies Registration Act, 1860, or any relevant state-level society registration act. A Section 8 Company under the Companies Act, 2013, or its predecessor, Section 25 Company under the Companies Act, 1956. The organization must have a genuine non-profit motive. Its primary purpose should be charitable or for the public good. If any trust is found doing activities to generate profits for its members or stakeholders will get disqualified from 80G registration. The organization's objectives must align with the definitions and purposes specified under Section 80G of the Income Tax Act . This typically includes activities related to: Education, Medical relief, Poverty alleviation, Advancement of religion, and Other charitable causes. Charitable organizations registered under Section 80G can not participate in political activities or promote political agendas. To obtain 80G registration, the organization must apply to the Commissioner of Income Tax (Exemptions) or the appropriate authority. Below are the necessary required documents: Details of the organization's objectives, Financial statements, Audited reports, and Proof of its charitable activities. The organization must comply with all relevant charitable activity laws and regulations. This includes following the provisions of the Income Tax Act, FCRA (Foreign Contribution Regulation Act), and other relevant laws. 80G Registration Procedure The 80G Registration process at KarrTax includes several steps to provide our clients with the best services possible. Step 1. Initial Assessment/ Consultation Our tax experts start the 80G process with an initial consultation with your organization. We will discuss your organization's unique charitable activities, legal structure, and objectives. This assessment helps us gauge your eligibility for 80G registration and allows us to customize our services to your specific needs. Step 2. Documentation Once eligibility is confirmed, we guide you through the document collection process. Here, our team will view and compile all the required documents and information (as discussed above) before starting the application process. Step 3. Filling Application Form In this step, our team prepares the 80G registration application. We ensure that all required information is accurately included in the application form. Step 4. Submission and Follow-up We will submit the completed application form with all supporting documents to the Income Tax Commissioner (Exemptions) or the appropriate authority in your jurisdiction. Further, our tax experts follow up with the authorities to track the progress of your application, ensuring that it receives the attention it deserves. Step 5. 80G Registration Certificate Issuance Upon successful verification and approval of your application, you'll receive the coveted 80G registration certificate. This 80G certificate confirms your eligibility for tax-deductible donations and attracts potential donors seeking tax benefits. It is important to remember that the specific requirements and procedures for 80G registration may evolve. So, staying updated with the latest guidelines and regulations from the Income Tax Department is always suggested. You can also seek Karr Tax professional guidance for the most accurate and current information. Validity of 80G Registration In India, charitable organizations enjoy certain tax exemptions and benefits under Sections 12A/12AA and 80G of the Income Tax Act 1961. However, these organizations had to undertake a crucial revalidation process for their registrations before a specified deadline. Revalidation Requirement: Under the Finance Act 2020, significant changes were introduced, mandating existing charitable institutions registered under Sections 12A/12AA and/or 80G to reapply for approval/registration. The primary objective was to assess the authenticity of charitable activities conducted by these entities. New Procedure For 80G Registration (w.e.f 1st April 2021) Under Section 12AB, a new registration procedure has been introduced, which came into effect on April 1, 2021. This change was implemented through Notification No. 19/2021, dated March 26, 2021, issued by the Central Board of Direct Taxes (CBDT). The Notification mandates that all trusts, societies, and institutions previously registered under Section 80G must now obtain fresh registration. Form 10A has been introduced to facilitate this new registration process, starting from the AY 2022-2023. Form 10A provides the guidelines and procedures for organizations seeking registration with the income-tax authorities to avail of the exemptions under Sections 11 and 12. To summarize, The amendment in the registration process, as per Section 12AB and Notification No. 19/2021, requires entities previously registered under Section 80G to obtain new registration. This ensures compliance with the conditions and procedures necessary to avail of the tax exemptions provided by Sections 11 and 12 of the Income Tax Act. Form 10A is the prescribed form for this purpose, and these changes have been in effect since the AY 2022-2023. Below is a table summarizing the new exemption approval process with all the relevant details! Frequently Asked Questions (FAQs) What is an 80G certificate? The Income Tax Department in India issues an 80G certificate that allows donors to claim tax deductions on donations made to eligible charitable organizations. It encourages individuals and organizations to contribute to charitable causes. 2. Who is eligible to apply for 80G registration? Charitable organizations, including trusts, NGOs, and section 8 companies, engaged in specific eligible activities are eligible for 80G registration. 3. What are the benefits of obtaining an 80G certification for a charitable organization? Obtaining an 80G registration allows the charitable organization to offer donors the benefit of tax deductions under Section 80G, which can encourage more donations and support for their causes. 4. Do all charitable organizations have 80G certificates? No, not all charitable organizations have 80G certificates. Only organizations that meet certain criteria and have been approved by the Income Tax Department are eligible for this certificate. 5. How long does it take to get 80G registration approval? The time taken for 80G registration approval can vary. It typically takes several months for the Income Tax Department to review the application and conduct necessary inspections. 6. Is 80G registration permanent, or does it require renewal? 80G registration is not permanent and usually comes with a validity period. That’s why organizations must renew their registration periodically to continue offering tax benefits to donors. 7. Can an organization with 12A registration automatically obtain 80G registration? No, having 12A registration does not automatically grant an organization 80G registration. You must apply separately for 80G registration. 8. Can an organization receive foreign donations with 80G registration? An organization with 80G registration can receive foreign donations but must also register under the Foreign Contribution (Regulation) Act (FCRA) to receive such donations legally. NGOs can enjoy tax benefits by obtaining 80G registration, allowing donors to claim income tax exemptions on their contributions under Section 80G. This registration can be applied for online, and there's also a renewal application form to extend the validity of your 80G certificate. The 80G certificate is crucial for NGOs as it signifies their eligibility for tax benefits. To verify 80G registration, check with the appropriate authorities. The application process for 80G registration requires specific documents, and it's important for societies and trusts in India to secure this registration for financial support and credibility. ফর্ম 10 এ প্রশ্ন জিজ্ঞাসা করুন আপনি কি আইটি বিভাগের সাথে আপনার এনজিওর 80G / নিবন্ধন / পুনর্নবীকরণ / পুনরায় নিবন্ধকরণ খুঁজছেন - এখানে ক্লিক করুন
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