Magicc Tax by Karr Tax helps CAs and tax professionals in India send automated due date reminders to their clients 3 days before every due date. It also helps in managing your client's data at a single place. ✨ MagiccTax by KarrTax Reminding clients about due dates is a challenging task. Magicc Tax automates it for you. Get Started for Free ✅ Free 14-Day Trial. No Credit Card required. Login Built by Tax Experts. Built for Tax Experts. Get Started 🪄 Send Automated email and message to your clients, 3 Days before every due date Email Template SMS Template Hi {{ClientName}}, This is a reminder from {{CAName}}, your Chartered Accountant / Tax Professional, that your tax due date is approaching in just 3 days. Due Date: {{DueDate}} Due Date Description: {{DueDateDescription}} Please submit the relevant documents. Remember, timely filing is key to avoiding penalties and late fees. Ignore if already filed. Sincerely, {{CAName}} {{FirmName}} Email - {{email}} Mobile Number - {{mobile}} P.S. You are receiving this email because your chartered accountant/tax professional has scheduled it for you. The Due Date for {{DueDateDescription}} is on {{DueDate}}. Please check your email for more info. Sent by your CA through OITF. By Tax Experts For Tax Experts ✨ Manage your clients at one place, without long spreadsheets Get Started 🔐 Top-Notch Security At Karr Tax, we understand the importance of protecting your data. We take every precaution to ensure your information is safe and secure. We never sell or share your client's data with any third-party companies. We use industry-standard security measures to protect your data from unauthorized access, disclosure, alteration, or destruction. We also have a strict data privacy policy that outlines how we collect, use, and protect your information. When you choose Karr Tax, you can rest assured that your client data is in safe hands. Get Started Frequently Asked Questions How to use our platform? Frequently asked questions General1 General2 General3 General4 General5 General6 General7 General8 General9 General Getting Started and Using Magicc Tax Privacy and Security Technical Accounts and Billing Additional FAQs મારા માટે કયું ITR શ્રેષ્ઠ છે? અહીં ટૂંકી ક્વિઝ લઈને તમારા માટે કયું ITR શ્રેષ્ઠ છે તે તમે જાણી શકો છો ➡ અન્યથા, તમે આ વિષય પર અમારો લેખ વાંચી શકો છો અહીં શું ઓનલાઈન ઈન્ડિયા ટેક્સ ફાઈલિંગ સુરક્ષિત છે? હા! નિશ્ચિતપણે! અમે છીએ! 1. તમારો ડેટા તમારો છે! તેથી, તે અમારી સુરક્ષિત ટીમ 2. ચુકવણી પદ્ધતિ ભારતના નંબર 1 પેમેન્ટ ગેટવે દ્વારા સંપૂર્ણ રીતે સુરક્ષિત અને સંચાલિત છે: Razorpay! 3. અમારી વેબસાઇટ 100% SSL સુરક્ષિત છે. કોઈ હેકર્સ નથી, કોઈ ચિંતા નથી! મારું IT રિટર્ન કોણ ફાઇલ કરશે? તમારું ITR ટેક્સ નિષ્ણાતો દ્વારા ફાઇલ કરવામાં આવ્યું છે જેમને 20 વર્ષથી વધુનો અનુભવ છે! ફોર્મ 16 શું છે? દરેક પગારદાર કર્મચારી કે જેમની આવકવેરા અધિનિયમ હેઠળ તમામ પાત્ર કપાત પછી કુલ આવક કરને વસૂલવાપાત્ર ન હોય તેવી મહત્તમ રકમ કરતાં વધી જાય છે, તેમના એમ્પ્લોયર પાસેથી તેમના પાત્ર કર સ્લેબ મુજબ કર કપાત મેળવવો જરૂરી છે. આમ એમ્પ્લોયરે દરેક કર્મચારીની આવકમાંથી સ્ત્રોત પર કર કપાત કરવો પડશે જેની કુલ આવક કર વસૂલવાપાત્ર છે અને તેણે સરકારમાં કાપવામાં આવેલ ટીડીએસ જમા કરાવવો પડશે. એકાઉન્ટ. દરેક એમ્પ્લોયરે નાણાંકીય વર્ષના અંતે પગારનું TDS રિટર્ન ફાઇલ કરવું પડશે અને દરેક કર્મચારીને ફોર્મ 16 આપવું પડશે કે જેમના TDS સ્ત્રોત પર કાપવામાં આવ્યા છે. વધુ વિગતો માટે આ તપાસો ➡ What are you waiting for? MagiccTax - A Product built by Tax Professionals like you, for Tax Professionals like you. We are the only solution to your problem of reminding clients before every due date. Get Started FAQ

Use our HRA exemption calculator to simplify your tax planning. Determine your HRA exemption calculation benefits easily today. એચઆરએ મુક્તિ કેલ્ક્યુલેટર Step 1 of 2 Step 2 of 2 કૃપા કરીને વાર્ષિક આંકડા દાખલ કરો. હું દિલ્હી, મુંબઈ, કોલકાતા કે ચેન્નાઈમાં રહું છું ગણત્રી HRA Exemption Calculator The House Rent Allowance (HRA) is a vital component of employees' salary structures, providing financial relief for those who incur rental expenses. It's a part of the salary that's specifically meant to cover the cost of renting a home. But do you know about HRA exemption under the Income Tax Act? You can use it to save on taxes! Here’s how it works. What Is an HRA Calculator? However, not the entire HRA amount is tax-free, but you can use our HRA calculator to determine the exempt portion. Here’s how you can use it. As it is clearly visible, our HRA exemption calculator is pretty straightforward to use. All you need to do is enter the following information. HRA received Basic Salary Rent Paid Specify whether you live in a metropolitan city. Let’s understand this more with an example. Suppose Naina works in a company named XYZ, located in Jaipur. Here, her Monthly salary is ₹ 800000 Dearness Allowance is ₹ 70000 p.m, and Actual HRA is ₹ 25000 p.m. Monthly Rent ₹ 20000 The Exempt HRA will be least of the following : (a) 40% of Basic Salary + DA (b) Actual HRA (c) Excess of Rent paid over 10% of Basic Salary + DA Here : Salary = base salary + DA = (80000+70000) * 12 = INR 20,40,000 HRA paid monthly is INR 25,000 or INR 3,00,000 per year. Rent is INR 20,000 per month or INR 2,40,000 per year. She lives in a non-metropolis city, so (a) 40% of Salary (Basic + DA): 40% of INR 20,40,000 = INR 8,16,000 (b) Actual HRA is 3,00,000 p.a. (c) Excess of Rent paid over 10% of Salary will be Rent paid - 10% of Salary (Basic + DA): INR 2,40,000 - INR 2,04,000 = INR 36,000. Thus, Naina is eligible for a tax deduction of INR 36,000 based on HRA. Get Experts Help & Maximize Your Tax Benefits Today! How Much HRA is Tax Exempted? The whole amount of HRA is not tax-exempt and depends on the three factors below. Actual HRA Received: This is the total amount of HRA you receive from your employer as part of your salary. 50% of Salary (for individuals living in metro cities) or 40% of Salary (for those living in non-metro cities): This is a standard percentage of your basic salary (including dearness allowance, if any). Rent Paid minus 10% of Salary: The actual rent you pay for your accommodation minus 10% of your basic salary. Required Documents For Claiming HRA? The documents below are required to claim HRA. Original rent receipts with details such as the landlord's name, address, and contact information. PAN (Permanent Account Number) details of the landlord if the annual rent paid exceeds Rs. 1,00,000. Copy of the rental agreement signed between the tenant and the landlord. Advantages of Using HRA Calculator Our calculator accurately calculates the part of your rent allowance that you don't have to pay taxes on. It's quick, easy, designed for everyone, and makes no errors. This helps you plan your finances better, knowing how much you can save in taxes. Frequently Asked Questions (FAQs) 1.What Is an HRA exemption calculator? The HRA exemption calculator helps individuals estimate the House Rent Allowance (HRA) exemption they can claim while filing their income tax returns. It considers your salary, HRA received, actual rent paid, and the city of residence to calculate the HRA exemption. 2.Can taxpayers claim HRA and 80GG simultaneously? No, taxpayers are not allowed to claim HRA and 80GG simultaneously. 3.Who is eligible for HRA exemption? Salaried individuals who live in rented properties and get HRA as part of their salary are eligible for HRA exemption. 4.What are the limits of HRA exemption? The three limits of HRA exemption include, (least of them) Actual HRA received 50% of the salary for employees living in metro cities or 40% for non-metro cities. Annual rent paid reduced by 10% of salary. 5.Can HRA be claimed along with home loan deductions? Yes, claiming both House Rent Allowance and home loan deductions simultaneously is possible. 6.Can the individuals working independently or running their own businesses claim HRA? House Rent Allowance is a benefit given by employers to employees to cover their rental expenses. However, self-employed individuals who work for themselves and do not receive a salary from an employer can not claim HRA because they are not in an employer-employee relationship. In simple terms, it is designed as a salary component for employees who incur rental expenses. 7.Is it possible to get HRA benefits when I live in a city different from my workplace? Absolutely! You are eligible to claim House Rent Allowance (HRA) even if you reside in a different city than where you work, as long as you are paying rent for your accommodation.

Streamline your TDS return process with Form 24Q. Ensure security and efficiency in tax filing with our user-friendly platform. FORM 24Q: Price List ટીડીએસ પરત ફ FORર્મ 24Q ધોરણ રૂ. 1499 Chat with Expert Payment after work અત્યારે શરુ કરો ફોર્મ 24 ક્યૂ શું છે? FORM 24Q: FAQ Form 24Q- TDS Return On Salary Payment Employers have several responsibilities towards their employees who are working for their organization. One specific task is deducting a portion of an employee's salary for income tax, known as Tax Deducted at Source (TDS). To do this properly, employers need to fill out a form called Form 24Q. What is Form 24Q? Form 24Q is a specific type of TDS (Tax Deducted at Source) return form used in India. It is instrumental in reporting critical details related to salary payments and the TDS deductions from employee salaries. Now the question arises: Who can deduct TDS on salaries? TDS is deducted by employers who make salary payments to their employees. However, if the employee's total income is up to Rs. 5,00,000/- [under old regime] & Rs.7,00,000/- [under new regime], TDS is not required to be deducted. Specifically, the below entities are liable to deduct TDS on salaries: Companies and Organizations Private companies, government organizations, non-profit entities, and other institutions are responsible for deducting the TDS from the salaries they pay to their employees. Individuals Sometimes, individuals who are not employers but pay employees or professionals can also be responsible for deducting TDS on salaries. HUFs (Hindu Undivided Families) Hindu Undivided Families (HUFs), if they have individuals on their payroll and make salary payments to them. Partnership Firms Partnership firms that have employees on their payroll are also obligated to deduct TDS. What Is The TDS Rate On Salary? Income Rate Slab More than 10,00,000 30% More than 5,00,000 but less than 10,00,000 20% More than 2,50,000 but less than 5,00,000 5% Less than 2,50,000 Nil Essentials For Filling Form 24Q Details of Challan: Number Date Amount Details of Employee: PAN Number Other Important Income details Form 24Q Classification Annexure-I This section of Form 24Q contains the deductor, deductees, and challan details. Annexure I is filed for all four quarters of the financial year. Contents: Annexure I Challan Details: Serial number Deposit date Branch’s BSR code The total amount of TDS that needs to be distributed among the deductees. Deductees Details: Employee reference number (if available) PAN (Permanent Account Number) Employee name Payment date Paid amount TDS amount TDS section code EC (Education Cess) Annexure-II Annexure II provides a comprehensive breakdown of an employee's salary, including details of any deductions that the employee can claim. It must be furnished and submitted in the financial year's fourth quarter (i.e., January to March). Interest Rates On Form 24Q As per Section 201 of the Income Tax Act of 1961, below are the interest rates applicable for late deposit of TDS on salary. If an employer fails to deduct TDS on salary, they may be liable to pay interest at 1% per month from the deduction date to the due date. If the TDS is deducted but not deposited on time, the employer may be liable to pay interest at a rate of 1.5% per month from the deduction date to the payment date. Due Date For Form 24Q Penalties Attached With Form 24Q Quarter Number Quarter Period Due Date 1st Quarter April to June 31st July 2nd Quarter July to September 31st October 3rd Qurter October to December 31st July 4th Quarter January to March 31sr May Form 24Q is filed every quarter. That’s why employers must adhere to the specified due dates for each quarter. However, a penalty will be levied if the employer fails to file Form 24Q within the due date prescribed by the Income Tax Department . Under Section 234E, the penalty for late filing of TDS returns was typically Rs. 200 per day. It will be charged till the return is filed. If there are discrepancies or incorrect details in Form 24Q, the Income Tax Department may impose a penalty. This may range from a minimum of Rs. 10,000 to a maximum of the tax-deductible amount. Important Points To Remember When Filling Form 24Q Ensure that the details of all employees for whom TDS has been deducted are correct. With that being said above, Form 24Q is filed quarterly. Check the due dates for each quarter and file the form accordingly because late filing can result in penalties. If you discover any errors in a filed form, a revised return can be filed to rectify the mistakes. If you need clarification on any aspect of Form 24Q, consider seeking guidance from Karr Tax. Our experts specialize in all kinds of TDS matters. Records of all TDS deductions, challans, and filed Form 24Q returns should be maintained properly. These records may be required for audit or verification purposes. Form 24Q is a crucial component of TDS (Tax Deducted at Source) returns in India, primarily used for reporting TDS on salaries. To file Form 24Q TDS returns online, follow the prescribed procedures and deadlines. It's essential to understand the distinctions between Form 24Q and Form 26Q , as they serve different purposes in TDS reporting. Missing the due date for Form 24Q filing can result in penalties, so stay updated on the deadlines. You can download Form 24Q and other relevant TDS return forms from official sources. Form 24Q plays a significant role in income tax compliance, particularly for employers deducting TDS from employee salaries. Make sure to file Form 24Q accurately and on time to avoid issues with your TDS obligations. Frequently asked questions General1 General2 General3 General4 General5 General6 General7 General8 General9 General Getting Started and Using Magicc Tax Privacy and Security Technical Accounts and Billing Additional FAQs મારા માટે કયું ITR શ્રેષ્ઠ છે? અહીં ટૂંકી ક્વિઝ લઈને તમારા માટે કયું ITR શ્રેષ્ઠ છે તે તમે જાણી શકો છો ➡ અન્યથા, તમે આ વિષય પર અમારો લેખ વાંચી શકો છો અહીં શું ઓનલાઈન ઈન્ડિયા ટેક્સ ફાઈલિંગ સુરક્ષિત છે? હા! નિશ્ચિતપણે! અમે છીએ! 1. તમારો ડેટા તમારો છે! તેથી, તે અમારી સુરક્ષિત ટીમ 2. ચુકવણી પદ્ધતિ ભારતના નંબર 1 પેમેન્ટ ગેટવે દ્વારા સંપૂર્ણ રીતે સુરક્ષિત અને સંચાલિત છે: Razorpay! 3. અમારી વેબસાઇટ 100% SSL સુરક્ષિત છે. કોઈ હેકર્સ નથી, કોઈ ચિંતા નથી! મારું IT રિટર્ન કોણ ફાઇલ કરશે? તમારું ITR ટેક્સ નિષ્ણાતો દ્વારા ફાઇલ કરવામાં આવ્યું છે જેમને 20 વર્ષથી વધુનો અનુભવ છે! ફોર્મ 16 શું છે? દરેક પગારદાર કર્મચારી કે જેમની આવકવેરા અધિનિયમ હેઠળ તમામ પાત્ર કપાત પછી કુલ આવક કરને વસૂલવાપાત્ર ન હોય તેવી મહત્તમ રકમ કરતાં વધી જાય છે, તેમના એમ્પ્લોયર પાસેથી તેમના પાત્ર કર સ્લેબ મુજબ કર કપાત મેળવવો જરૂરી છે. આમ એમ્પ્લોયરે દરેક કર્મચારીની આવકમાંથી સ્ત્રોત પર કર કપાત કરવો પડશે જેની કુલ આવક કર વસૂલવાપાત્ર છે અને તેણે સરકારમાં કાપવામાં આવેલ ટીડીએસ જમા કરાવવો પડશે. એકાઉન્ટ. દરેક એમ્પ્લોયરે નાણાંકીય વર્ષના અંતે પગારનું TDS રિટર્ન ફાઇલ કરવું પડશે અને દરેક કર્મચારીને ફોર્મ 16 આપવું પડશે કે જેમના TDS સ્ત્રોત પર કાપવામાં આવ્યા છે. વધુ વિગતો માટે આ તપાસો ➡ ફોર્મ 24Q કેવી રીતે મેળવી શકાય? પીડીએફમાં ડાઉનલોડ કરો ફોર્મ 24 ક્યૂ ડાઉનલોડ કરો ઉપયોગી લિંક્સ ફાઇલ ટીડીએસ રીટર્ન (ફોર્મ 24 ક્યુ 26 ક્યુ 27 ક્યુ) હવે અહીં ક્લિક કરો اور

Find accurate HSN and SAC codes for your products and services with our tool, ensuring precision in GST and international trade transactions. HSN and SAC Code Search Search HSN/SAC Code Description HSN/SAC Code Description HSN/SAC Code Description Previous Loved our tool? Spread the Word on Twitter Next How to use Karr Tax HSN-SAC Code Finder? The process of using our HSN-SAC Code Finder is easy and seamless. Here’s how! Above, you are required to enter the HSN/SAC code or Description and click on “Search.” What is HSN Code? HSN, or Harmonized System of Nomenclature, is a global standard for categorizing goods in a systematic manner. It came into effect from the year 1988 and was developed by the World Customs Organization (WCO). Further, HSN is a 6-digit code that is used to classify more than 5,000 products and is accepted worldwide. How does the the HSN Code work? The HSN is a standardized system used globally to name and classify products traded internationally. Adopted by over 200 countries, it covers nearly 98% of all merchandise traded worldwide. The HSN code plays an important role in taxation, particularly under the GST (Goods and Services Tax) regime , as it identifies a specific product or category. This system operates under a set of rules that outline the principles and methods of classification. These rules maintain uniformity and accuracy in applying HSN codes and resolve any discrepancies that may arise. These codes also serve valuable business purposes, like: Determine eligibility and benefits under trade agreements Ease the trade statistics collection and analysis. Provides a common language for product classification. Understanding the HSN Code Generally, HSN codes contain: 21 sections 99 chapters 1244 headings 5224 subheadings The HSN code follows a hierarchical structure: Each chapter is identified by a two-digit HSN number. These two-digit numbers are then further classified into four-digit HSN codes. Finally, the four-digit HSN codes are subdivided into six-digit HSN codes, offering the most detailed classification level. Later on, the Customs and Central Excise authorities added two more digits to the 6 digit HSN code to make it more precise. This resulted in a 8-digit classification and was done to align with the GST regime. Let’s understand this with an example. As you can see in the image below will be 10.06.30 The first two digits indicate the chapter, i.e., 10, heading 06, and subheading 30. Source What is the importance of HSN Codes? The HSN (Harmonized System of Nomenclature) code is a classification system used globally to organize and categorize various products. Here’s its importance. It provides a systematic and logical method for classifying goods, considering factors like material, function, and origin. These codes ensure uniform classification of goods across different countries. This ultimately minimizes the chances of disputes and errors in trade transactions. With that being said above, 98% of international trade stock is classified in terms of HSN, which further proves it as best form of international classification. As new products emerge or old ones become less common, the HSN system can be updated to reflect these changes. Using the same codes worldwide ensures consistency and fairness in trade. Declaration of HSN Code for Goods and Services Aggregate Turnover Type Of Invoices No of Digits of HSN Code Above Rs. 5 Crores All Invoices 6 Digits Upto Rs. 5 Crores B2B Invoices 4 Digits (Vide CGST notification number 78/2020 dated 15th October 2020) Note: For all the dealers who are into imports or exports must have 8 digits of the HSN code. What is SAC Code (Service Accounting Code) in GST ? SAC code is a classification system used to identify the different types of service and the applicable GST rate for that service. Based on the Harmonized System of Nomenclature, these codes enable the compliance of GST based on international standards. Understanding the SAC Code Let’s say the SAC code for Information technology (IT) design and development services is 998314. (as found using Karr Tax HSN and SAC Code Search ) The first two digits, i.e., 99, are the same for all services in SAC. The next two digits show the nature of services, which here are IT services. The last two digits show the detailed nature of services, i.e., Design and Development services. What is the importance of SAC Codes? The importance of the SAC code is explained below. It maintains uniformity in the tax system and ensures businesses are taxed correctly based on the specified rates. Through SAC codes, the different types of services, along with their applicable tax rates, can be found easily. It adheres to compliance and simplifies the process of tax calculation and GST return filings. These codes can help the Government of India to monitor and collect taxes more efficently. Frequently Asked Questions (FAQs) Is HSN and SAC code the same? No, HSN and SAC codes are not the same. The difference between them is that HSN codes are meant for goods, while SAC codes are used specifically for services. 2. Will a GST bill be valid without an HSN code? Absolutely, No! GST bills will not be valid without HSN codes. 3. What is the HSN and SAC code used for? HSN codes are used to clasify goods; on the contrary, SAC codes are used for the classification of services. 4. Is the HSN code is of 8 digits? Yes, the businesses engaged in the export and import of goods mandatorily have 8 digits of the HSN code. 5. How can I add/amend the HSN code in the registration under the GST portal? Here are some of the steps to add an HSN code to the GST portal, Open the official GST website and log in. Head to the 'Services' section on the dashboard. From the 'Services' menu, select 'Registration' followed by 'Amendment of Registration Non-core fields'. On the subsequent page, click on the 'Goods and Services' tab. Within the 'Goods and Services' section, choose the 'Goods' tab. Now, you can search for the relevant HSN chapter by entering the HSN code or the item's name. Then, click on 'Save and continue.' Complete the verification process and submit your amendments using either a Digital Signature Certificate (DSC) or an Electronic Verification Code (EVC). GST Filings Made Simple! File your GST with Expert Guidance now!

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Learn about the essentials of TDS Form 27Q for smooth tax deduction. Get insights on deadlines, procedures, and compliance with Karr Tax. FORM 27Q: Price List ટીડીએસ પરત ફ FORર્મ 27 ક્યૂ તમારું ચૂંટો ધોરણ બિન-રહેવાસીઓને ચૂકવણી પર ટી.ડી.એસ. રૂ. 1499 અત્યારે શરુ કરો FORM 27Q: FAQ TDS Form 27Q- “Reporting TDS on Payments to NRIs” DSનલાઇન ટીડીએસ રીટર્ન ફોર્મ એ ટીડીએસ રીટર્ન છે જેમાં બિન-નિવાસી ભારતીય (એનઆરઆઈ) ને ચૂકવણી કરવામાં આવતી કપાત પર કર કપાત કરાયેલ સોર્સ (ટીડીએસ) ની વિગતો હોય છે. બિન-નિવાસીને કરવામાં આવતી ચુકવણીના સંદર્ભમાં, ટીડીએસ તેમને ચૂકવવામાં આવતી તમામ રકમના સંદર્ભમાં બાદ કરવાની રહેશે. આવકવેરા અધિનિયમ કલમ 195 સૂચવે છે જે મુજબ બિન-રહેવાસીઓને ચૂકવણી પર ટીડીએસ કાપવાની જરૂર છે. આ ફોર્મ ત્રિમાસિક ધોરણે નિયત તારીખે અથવા તે પહેલાં રજૂ કરવું જરૂરી છે. તેમાં કપાત કરનાર દ્વારા એનઆરઆઈને કરવામાં આવતી ચુકવણીઓ પર કરવામાં આવેલી ચૂકવણીની અને ટીડીએસની કપાતની વિગતો શામેલ છે. ફાઇલિંગ માટે જરૂરી દસ્તાવેજો ડિડક્ટરની વ્યક્તિગત વિગતો જેમ કે ટી.એન., સરનામું, મોબાઈલ નં. , ઇમેઇલ આઈડી ટીડીએસના ચલણ કપાતનો પાન કપાતની ચુકવણીની વિગતો એટલે કે વ્યાજ, ભાડુ, કમિશન, કરાર વગેરે. કોને ફોર્મ 27Q ફાઇલ કરવાની જરૂર છે કોઈપણ કપાતકર્તા જેમ કે વ્યક્તિગત, એચયુએફ, ફર્મ, એલએલપી, કંપની વગેરે કે જેમણે બિન-નિવાસી કપાત કરનારના કિસ્સામાં ટીડીએસ કાપવાની જરૂર હોય તેણે તે ત્રિમાસિક માટે ફરજિયાતપણે ફોર્મ 27 ક્યૂ ફાઇલ કરવું જરૂરી છે જેમાં બિન-નિવાસીનો ટીડીએસ કાપવામાં આવ્યો છે._cc781905- 5cde-3194-bb3b-136bad5cf58d_ કોને ફોર્મ 27Q ફાઇલ કરવાની જરૂર છે ફોર્મ 27Q ફાઇલ કરવા માટે નિયત તારીખો Payer The payer refers to the individual, organization, or entity that pays the Non-Resident Indian (NRI). This entity is responsible for deducting TDS and filing Form 27Q with the tax authorities. Payee The payee receives payments from the payer. Its residential status is decided according to Section 6 of the Income Tax Act. Important Details Required For The Form 27Q From the Payer PAN Number Tan Number Contact details Name Address Financial Year Assessment Year Original statement or receipt number of the previously filed return in the same quarter. From the Payee Name Address Division Branch PAN Number E-mail ID Contact Details Assessment Year Challan Details Serial Number BSR Code Amount of EC (Education Cess) Amount of Surcharge Interest Amount Total Tax Deposit Tax Deposit Date Tax Deposit Method Collection Code Number of Cheque or Demand Draft Deduction Details Tax Collector Name PAN Number Deducted TDS Amount Amount Given To The Payee From the Payer PAN Number Tan Number Contact details Name Address Financial Year Assessment Year Original statement or receipt number of the previously filed return in the same quarter. From the Payee Name Address Division Branch PAN Number E-mail ID Contact Details Assessment Year Challan Details Serial Number BSR Code Amount of EC (Education Cess) Amount of Surcharge Interest Amount Total Tax Deposit Tax Deposit Date Tax Deposit Method Collection Code Number of Cheque or Demand Draft Deduction Details Tax Collector Name PAN Number Deducted TDS Amount Amount Given To The Payee Components of Form 27Q The three main components of Form 27Q include: Statistics of Voucher Deduction Details and Payment Details Let's explore each of these sections in detail. Statistics of Voucher Included Transactions These transactions are used for generating Form 27Q. Below are its details: Booking entries with or without TDS Deduction Advance Payment Handling Government Entity TDS Adjustments TDS Deduction Records Entries related to TDS Reversal Accounting TDS Deductions for Price Escalation and Reductions Excluded Transactions TDS deduction is not required for the below transactions. That’s why these are excluded while generating the Form 27Q. Purchase note Sales order Payment voucher Debit note Credit note Inventory vouchers Contra Payroll vouchers Optional vouchers Uncertain Transactions These transactions fall under the "Uncertain" category when they do not meet the criteria for either "Included" or "Excluded" categories. This typically happens due to insufficient information entered in the master or transaction records. Deduction Details This segment categorizes the deduction types for each included transaction. Deduction details are categorized as follows: Deduction at the Standard Rate Deduction at an Elevated Rate Lower taxable Expenses with reduced deduction Taxable expenses at a zero rate Transactions falling under the exemption limit Special cases with PAN exceptions Payment Details The payment details section includes information about TDS payments recorded in the most recent entries. These are relevant to the current TDS return filing period. Also, It lists only the payments relevant to the present period of TDS return filing . And excludes entries from other timeframes or entries unrelated to TDS payments. You'll find details of payments made for included and excluded transactions here. Under Section 271H of the Income Tax Act, no penalty will be charged if: The TDS (Tax Deducted at Source) is deposited to the government. The interest and fees for late filing (if applicable) are already deposited. If the return is filed within one year from the due date. Due Dates For Filing TDS Form 27Q The deadline to pay the TDS deducted (each month) falls on the seventh day of the subsequent month. However, this deadline is 30th April for March month. Due Date Chart TDS Form 27Q Quarter No. Quarter Period Due Date 1st Quarter April To June 31st July 2nd Quarter July To September 31st October 3rd Quarter October To December 31st January 4th Quarter January To March 31st May Penalties For Non-Compliance Late filing of Form 27Q (Penalty under Section 234E of the Income Tax Act, 1961) Minimum Penalty: Rs. 200 per day until the return filing. Maximum Penalty: The maximum penalty can be equal to the amount of TDS deducted. In simple terms, it can be as much as the total TDS amount that should have been deposited but was not, subject to a maximum limit. Non-filing of Form 27Q (Penalty under Section 271H of the Income Tax Act, 1961) Minimum Penalty: Rs. 10,000/- Maximum Penalty: Rs. 1,00,000/- TDS Deduction A penalty in the form of interest is levied on the taxpayer if the TDS is not deducted on time. This can amount to 1% per month or part of the month spent between the due date and the actual deduction date. Similarly, interest will be imposed at 1.5% monthly if the deducted TDS is not deposited on time. This interest is also calculated on any part of the month between the actual date of deduction and the actual date of deposit. TDS Certificate After filing the TDS returns, the payer must issue Form 16A or a TDS certificate to the non-resident. This TDS certificate must be handed over to the non-resident seller within a 15-day window from the last date of filing TDS returns for the respective quarter. Frequently Asked Questions (FAQs) What is Form 27Q? Form 27Q is a statement of deduction of tax under Section 200(3) of the Income Tax Act, 1961. It reports TDS deductions when payments are made to non-resident Indians (NRIs) and foreign entities. 2. Who is required to fill Form 27Q? Any entity that is deducting TDS from payments made to NRIs is required to file Form 27Q. 3. Is obtaining a Tax Deduction Account Number (TAN) mandatory to file Form 27Q? Yes, the deductor must obtain a TAN before filing Form 27Q. TDS can only be deducted or reported with a valid TAN. 4. What happens if the PAN is unavailable in Form 27Q? The tax deduction is generally done at a higher rate (approx 20%) when the PAN of the deductee is not provided. 5. Where can I find the Form 27Q and related guidelines? Its guidelines can be found on the official website of the Income Tax Department of India or through the NSDL and UTIITSL websites. Form 27Q is a crucial document for TDS (Tax Deducted at Source) compliance in India, especially for entities making payments to non-resident individuals or foreign companies. To file Form 27Q online, follow these steps: Visit the official income tax website and access the form. Fill in the necessary details, including PAN, payment information, and TDS amounts. Submit the form online, and remember to make the 27Q online payment through the specified channels. It's important to ensure accurate filing and timely payment to meet TDS obligations and avoid penalties. Form 27Q serves the purpose of reporting and filing TDS returns for such payments. Form 27Q is a vital component of TDS (Tax Deducted at Source) in India, particularly for payments to non-resident individuals or foreign companies. To file Form 27Q online, visit the official income tax website and fill in the required details, including PAN, payment information, and TDS amounts. Ensure accuracy in filling the 27Q form and make the TDS online payment through approved channels. Form 27Q is essential for reporting and filing TDS returns for these specific payments under the Income Tax Act. It is important to be aware of the 27Q TDS return due date to meet compliance requirements and avoid penalties. ઉપયોગી લિંક્સ "માલના વેચાણ પર TCS [વિભાગ 206C (1H)] પર અમારો લેખ વાંચો - નવી જોગવાઈ 01 ઓક્ટો .2020 થી લાગુ થશે તમારા ટીડીએસ રિટર્ન ફાઇલ કરો હવે અહીં ક્લિક કરો! હવે અહીં ક્લિક કરો! પીડીએફમાં ફોર્મ 27Q ડાઉનલોડ કરો

Get the best tax consultation services in India from an advisory team with expertise in tax law, compliance, and planning tax with many taxation essentials. નિષ્ણાતની સલાહ કોઈપણ સહાય અને નિષ્ણાતની સલાહની જરૂર છે કિંમત માત્ર રૂ. 299 આવકવેરા, ટીડીએસ અને જીએસટી એ જટિલ વિષયો છે અને મોટાભાગે નિષ્ણાતની સલાહ લેવી જરૂરી છે. તે ઘણી વખત થઈ શકે છે કે કરદાતા કોઈ ખાસ મુદ્દાને લઇને મૂંઝવણમાં મુકાય છે અને યોગ્ય નિર્ણય લેવાનું મુશ્કેલ બને છે. આવકવેરાના ક્ષેત્રમાં નિષ્ણાતની સલાહ, આવકના સ્ત્રોતો, ઉપાર્જનની કપાત, કર બચાવવા માટે રોકાણની યોગ્ય રીતની પસંદગી, આવકવેરાની ગણતરી, મૂડી લાભ વેરો, એડવાન્સ ટેક્સ, વ્યાજ વગેરે વિશેની કોઈપણ ક્વેરીથી લઈને છે. જીએસટીના ક્ષેત્રમાં, નિષ્ણાતની પરામર્શ નોંધણીની આવશ્યકતાઓ, નોંધણીની પ્રક્રિયા, ઇનપુટ ટેક્સ ક્રેડિટ ઉપલબ્ધતા, કમ્પોઝિશન ડીલરો માટે વિકલ્પ પસંદ કરવા, વ્યાજ અને મોડા ફી મુદ્દાઓ અને ઘણા ઘણા બધાં હોઈ શકે છે. اور અમારી પાસે https://onlineindiataxfilings.net પર ચાર્ટર્ડ એકાઉન્ટન્ટ્સ સહિત નિષ્ણાતોની એક ટીમ છે જેનો પ્રત્યક્ષ અને પરોક્ષ કરના ક્ષેત્રમાં વિશાળ અનુભવ છે જે તમને ખૂબ સચોટ પરામર્શ પ્રદાન કરશે કે જેના પર તમે તમારા નિર્ણયો લેતી વખતે આધાર રાખી શકો. اور اور પ્રક્રિયા 1. તમારી ક્વેરી સબમિટ કરો 2. ચુકવણી કરો 3. ક callલ Scedule! 4. તે થઈ ગયું !!!!! What does Tax Consultant Do? Seeking tax consultation online has become a convenient way for individuals and businesses to access expert advice on income tax matters. Various platforms offer income tax consultation services provided by tax experts in India. Engaging with an online tax consultant ensures access to professional guidance and expertise in navigating complex tax regulations. These consultants specialize in consultancy for income tax calculation , offering tailored advice based on individual or business-specific tax situations. Find Income Tax Consultant Online Finding a tax expert or advisor online enables individuals to access free tax advice on specific tax-related queries or concerns. This avenue proves valuable in addressing tax-related queries promptly and efficiently. Additionally, individuals often search for a tax consultant or advisor near them, seeking localized assistance and face-to-face consultations for their tax matters. Whether seeking advice online or nearby, engaging with a tax expert ensures access to comprehensive guidance and accurate information regarding income tax implications and calculations. પ્રક્રિયા 1. તમારી ક્વેરી સબમિટ કરો 2. ચુકવણી કરો 3. ક callલ શેડ્યૂલ કરો! 4. તે થઈ ગયું !!!!! તમારી ક્વેરી અહીં પોસ્ટ કરો સબમિટ કરો

Easily estimate your income tax liability for the financial year. Get accurate results and plan your finances effectively with the Income Tax Calculator! આવકવેરા કેલ્ક્યુલેટર (જૂની વિ નવા) What is an Income Tax Calculator? 2020 ના કેન્દ્રીય બજેટમાં, નાણાં પ્રધાન નિર્મલા સીતારામણે જૂની યોજના હેઠળ કર ચૂકવવા માટે વ્યક્તિગત અને એચયુએફ કરદાતાઓ માટે નવી યોજના દાખલ કરી છે અથવા કરવેરાની નવી યોજના રજૂ કરવામાં આવી છે. વ્યક્તિગત / એચયુએફ પાસે ફાયદાકારક હોય તેવા બે કર સ્લેબ વચ્ચે પસંદગી કરવાનો વિકલ્પ હશે. اور જૂની યોજના હેઠળ, વિવિધ કપાત થાય છે એટલે કે પ્રકરણ વી.આઇ.એ. હેઠળ, પગારમાંથી ધોરણ કપાત, મકાન સંપત્તિ, હાઉસિંગ લોન પર વ્યાજ, G૦ જી કપાત વગેરે. તમામ કપાત ન્યૂ ટેક્સ સ્લેબ અંતર્ગત કરવામાં આવી છે જેમાં નવા દર અને ટેક્સ સ્લેબ છે. સૂચવવામાં આવ્યું છે. اور અહીં અમે બંને યોજનાઓ હેઠળ ટેક્સ સ્લેબ અને કરના દરો પર ધ્યાન આપીએ છીએ: اور 1. જૂની યોજના اور મૂળભૂત મુક્તિ મર્યાદા રૂ .૨..5 લાખ اور કરની આવકનો દર اور 2.5 લાખથી 5 લાખ 5% 5 લાખથી 10 લાખ 20% 10 લાખથી વધુ 30% اور તમામ કપાત જૂની યોજના હેઠળ એટલે કે ધો. કપાત, પ્રકરણ વીઆઇએ હેઠળ કપાત, 80 જી અને અન્ય 80 કપાત, ધો. મકાન સંપત્તિમાંથી કપાત, આવાસ લોન પરના વ્યાજ વગેરે. اور 2. નવી યોજના اور બેઝિક છૂટની મર્યાદા રૂ .૨..5 લાખ اور કરની આવકનો દર اور 2.5 લાખથી 5 લાખ 5% 5 લાખથી 7.5 લાખ 10% 7.5 લાખથી 10 લાખ 15% 10 લાખથી 12.5 લાખ 20% 12.5 લાખથી 15 લાખ 25% 15 લાખથી વધુ 30% اور જૂની યોજના હેઠળ ઉપલબ્ધ આ યોજના હેઠળ કોઈ કપાતની મંજૂરી આપવામાં આવશે નહીં اور اور જો તમે બંને યોજનામાં તમારા ટેક્સની ગણતરી કરવા માંગતા હો અને પછી કયા વિકલ્પનો ઉપયોગ કરવાનો છે તે નિર્ણય લો, અમે કેલ્ક્યુલેટર પ્રદાન કરી રહ્યા છીએ. 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. કેલ્ક્યુલેટર માટે અહીં ક્લિક કરો

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. અત્યારે શરુ કરો

Ensure tax compliance effortlessly with our expert ITR-7 return filing services, a worry-free and smooth experience. ITR - 7: Price List આઈટીઆર 7 ફીલિંગ્સ એ.વાય.આર. 2021-22 ₹4499 For Trusts/Societies etc. Takes 1-2 Days on average. ✅ Expert Assisted ✅ Completely Secure ✅ Affordable Pricing Get Started આઇટીઆર વિશે બધા ONનલાઇન Iનલાઇન ફાઇલિંગ એ.વાય.આર.2020-21 1. આઇટીઆર -7 યુ / સે 139 (4 એ) તે વ્યક્તિઓ કે જેની આવક સંપત્તિમાંથી છે તે સંપૂર્ણ અથવા અંશત char ધર્માદા અથવા ધાર્મિક ટ્રસ્ટ માટે વપરાય છે અને આવી સંપત્તિ કાનૂની જવાબદારી અથવા ટ્રસ્ટ હેઠળ હોવી આવશ્યક છે. اور 2. આઇટીઆર -7 યુ / સે 139 (4 બી) આ વિભાગ ખાસ કરીને રાજકીય પક્ષોને લાગુ પડે છે. કલમ ૧A એ મુજબ રાજકીય પક્ષોને આઇટીઆર-7 ફોર્મ દ્વારા વાર્ષિક રિટર્ન ફાઇલ કરાવતા તેઓને આવકવેરા રીટર્ન ફાઇલ કરવાની મુક્તિ આપવામાં આવે છે. اور 3. આઇટીઆર -7 યુ / સે 139 (4 સી) આ હેઠળ, ITR-7 નીચેની કંપનીઓ દ્વારા ફાઇલ કરવામાં આવે છે: એસોસિએશન વૈજ્ .ાનિક સંશોધન કરે છે સમાચાર એજન્સી એસોસિએશન U / s 10 (23A) અન્ય સંસ્થાઓએ તમારા 10/23 (23 બી) નામાંકિત اور 4. આઈટીઆર -7 યુ / સે 139 (4 ડી) આવકવેરા કાયદાની કલમ 35 (1) (ii) અને (iii) માં ઉલ્લેખિત શાળાઓ, ક collegesલેજો અને સંસ્થાઓએ આ નિયમન હેઠળ આઇટીઆર -7 ફાઇલ કરવી જરૂરી છે. اور 5. આઇટીઆર -7 યુ / સે 139 (4 ઇ) વ્યવસાય ટ્રસ્ટ દ્વારા વળતરની આવક ફાઇલ કરવી اور 6. આઈટીઆર -7 યુ / સે 139 (4 એફ) ઇન્વેસ્ટમેન્ટ ફંડ દ્વારા આવકનું વળતર ફાઇલ કરવું What Is The ITR 7 Form? The ITR-7 form is mandated for entities that derive income from properties meant for charitable or religious purposes. These may be held partially or entirely under trusts or legal obligations. Eligibility Criteria For ITR-7 Return Filing The following entities are required for ITR-7 return fling u/s: 139(4A) Receiving income from property held under trust or other legal obligation, wholly or partially for charitable or religious purposes. Income from voluntary contributions. 139(4B) Political parties whose income exceeds the maximum amount not chargeable to tax. 139(4C) Scientific Research Associations Hospitals Funds Educational Institutions or Universities Associations or Institutions mentioned in Section 10(23A) News Agencies Institutions referred to in Section 10(23B) 139(4D) Every college, university, or association is not required to furnish details of the return of income or loss under any other provision of this section. 139(4E) Business trusts return filing income. 139(4F) Investment funds referred to in section 115UB. If you need clarification regarding your eligibility, get in touch with our experts at https://www.karrtax.in/ . Who Is Not Required To File ITR-7 Return Entities who are not claiming exemption under Section 139 (4A), Section 139 (4B), Section 139 (4C), or Section 139 (4D). Last Date for Filing ITR-7 Form The deadline for submitting the ITR-7 Form varies based on whether the taxpayer's accounts require an audit. It's advisable for taxpayers to stay informed about any updates or changes in the filing deadlines to avoid any potential penalties or consequences. Structure of ITR-7 Form Part-A: General Information about the trust or institution Part-B: Outline of Total Income and Tax Computation Procedure To File ITR 7 Returns The sequence below should be followed properly to file an ITR-7 return. Part A Part B Schedules Verification Now, there are two different ways to furnish the information as specified by the Income Tax Department of India. ITR-7 can be filed electronically using a digital signature certificate for authentication or through various other modes such as aadhar OTP, bank EVC etc. After electronically transmitting the return, the taxpayer must submit the return verification in the ITR-V Return Form & print its copies. Then, one copy of the signed ITR V Form should be sent via speed post to the following address: Bag No.1, Electronic City Office, Bengaluru - 560100 (Karnataka) The assessee should retain the other copy of the signed ITR V Form for their records. E-filing Audit Reports If the taxpayer is subject to audit under section 11 or 44AB or any other laws such as Trust Act/Societies Act, details of the audit reports and the date of furnishing should be submitted to the income tax department under "Audit Information." No Annexures Required No additional documents are required to be attached while filing the ITR 7 Form. (including TDS certificate) Pro Tip: It is very important to cross-verify taxes deducted or collected according to your Tax Credit Statement (Form 26AS) Verification of Form ITR-7 Step-by-step procedure to fill out the verification document. Complete all required information. Carefully strike out any sections or details that do not apply to your specific filing. Ensure that the verification document is signed before submitting the return. Choose the appropriate designation or capacity of the return signing person. For political parties, the CEO or secretary is obligated to verify the return using a Digital Signature Certificate (DSC). Other individuals have the following verification options: Digital Signature Certificate (DSC) Electronic Verification Code (EVC) Mode Physical Verification (ITR-V) How Can Karr Tax Help You With ITR-7 Return Filing? ●Specialization in ITR-7 Filings Trusts, political parties, institutions, and colleges present unique challenges regarding income sources, exemptions, and reporting structures. That’s why our experts specialize in handling ITR-7 return filings and ensure a thorough understanding of the complexities associated with different form categories. ●Dedicated Audit Support The platform offers dedicated support for the audit process, a crucial aspect for entities required to file ITR-7. This includes collaboration with experienced auditors to ensure compliance with audit provisions under section 11 or 44AB of the Income Tax Act. ●User-Friendly Interface Our platform is designed to provide a seamless experience, guiding users through each step of the filing process. This makes it accessible even for those without an in-depth understanding of tax laws. ●Regular Updates on Tax Regulation s Karr Tax keeps clients informed about the latest changes in tax regulations and ensures that their filing processes are aligned with the most up-to-date guidelines. We frequently post blog posts regarding law changes, so keep an eye on https://www.karrtax.in/articles . ●Secure Data Handling Security is our top-most priority. Our platform employs robust security measures to safeguard sensitive financial information, providing clients with the assurance that their data is handled with the utmost confidentiality. ●Prompt Response to Notices In case of any notices or inquiries from tax authorities , Karr Tax ensures prompt responses. The platform assists clients in understanding and addressing any issues raised by tax authorities, facilitating a smoother resolution process. FAQs (Frequently Asked Questions) 1. What is ITR-7? ITR-7 is the Income Tax Return form specifically designed for persons or entities such as Trusts/Societies/Educational Institutions/schools/Colleges/Political Parties, including companies falling under Section 139(4A), 139(4B), 139(4C), 139(4D), 139(4E), and 139(4F) of the Income Tax Act, 1961. 2. How to calculate income for filing ITR-7? The income for ITR-7 is computed by aggregating income from all sources, including Salary, House property, Business or profession, Capital gains , and Other sources . Deductions under various sections are then applied to determine the taxable income. 3. Is it required to furnish information regarding any project or institution run by the assessee? Yes, filling in all the required information about the project or institutions run by the assessee is necessary. This includes: Name, Nature of the activity, Approval of the school, college, university, hospital, or research institution, Details of registration/ provisional registration. 4. What is the penalty for not filing ITR-7 on time? If ITR-7 is not filed within the due date, a penalty under section 234F may be applicable. The penalty amount varies based on the delay in filing. 5. Can ITR-7 be filed in response to a notice or order? Yes, ITR-7 can be filed in response to a notice or order issued by the income tax authorities. When filing in response to a notice or order, taxpayers should provide specific details. This includes entering the Document Identification Number (DIN) or Unique number and the date of the relevant statutory notice. 6. Can Karr Tax help me determine my eligibility for ITR-7 return filing? Yes, our tax experts are here to help you round the clock with all your queries. Write us here: https://www.karrtax.in/ and we will get back to you as soon as possible. 7.How Form 26AS is related to ITR-7? Form 26AS is a comprehensive tax credit statement that offers a consolidated view of the taxes deducted at source (TDS ), taxes collected at source (TCS), and advance tax payments made on behalf of the taxpayer during a specific financial year. It ensures that the information reported in ITR-7 aligns with the data recorded by tax authorities ITR-7 ડાઉનલોડ કરો

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.

Learn how to secure 12A Income Tax Registration for your Trust or NGO. Unlock tax benefits and exemptions. Expert guidance for hassle-free registration. ટ્રસ્ટ / સોસાયટી / એનજીઓ નોંધણી માટે 12 એબી આવકવેરા હેઠળ અરજી કરો એનજીઓ નોંધણી રૂ.1999 નિષ્ણાત સાથે જોડાઓ આવકવેરા હેઠળ ટ્રસ્ટ / સોસાયટીઓ માટે નોંધણી 1 લી એપ્રિલ, 2021 થી નવીનતમ સુધારો લાગુ થયો Non-Governmental Organizations (NGOs) play a crucial role in the development and welfare of society. These organizations, whether trusts, societies, or section 8 companies, work selflessly towards charitable or religious causes, aiming to make a positive impact on the lives of people in need. Running a charitable organization in India is a noble endeavour, but it often comes with financial challenges. This is where Section 12A of the Income Tax Act comes into play. To support their noble endeavours, the Indian government provides certain benefits and tax exemptions to registered NGOs under Section 12A of the Income Tax Act. Obtaining 12A registration allows organizations to receive income tax exemption under Section 11 of the Income Tax Act, allowing them to receive more resources to fulfil their mission. This also incentivizes donors to claim deductions on their contributions under Section 80G of the Income Tax Act . Trust and credibility are crucial assets for any charitable organization, and 12A registration enhances their reputation through recognition, attraction of donors, and government partnerships. Registration often opens doors to collaborations with government agencies and other reputable organizations. Financial transparency is another benefit of 12A registration. Registered organizations are required to maintain proper books of accounts and records, ensuring transparency in financial operations. Additionally, the registration process necessitates adherence to legal requirements, ensuring that the organization operates within the legal framework. 12A registration is not just a matter of compliance; it is a strategic move that can significantly impact the sustainability and effectiveness of your charitable organization. The tax benefits, enhanced credibility, and commitment to transparency can make your mission more sustainable. Eligibility and Prerequisites Meeting eligibility criteria and prerequisites is the first step towards unlocking the benefits of tax exemption and enhanced credibility. Legal Entity and Purpose To be eligible for 12A registration, your organization must meet certain fundamental criteria: Legal Entity: Your organization should be a legally recognized entity, registered as a trust, society, or section 8 company under the relevant state laws. Each of these entities serves different purposes: Trust: Typically formed for the management of a specific trust or endowment. Society: Primarily established for charitable, literary, or scientific purposes. Section 8 Company: Created for promoting commerce, art, science, sports, education, research, social welfare, and charity. Non-Profit Objective The primary objective of your organization should be non-profit in nature. This means that your organization's activities must not be driven by profit motives. Instead, they should focus on charitable, religious, or social welfare activities. Proper Maintenance of Records Registered organizations must maintain proper books of accounts and other records. These records should accurately reflect the financial transactions and activities of the organization. Essential Documents The key to a successful 12A registration application lies in the documentation you provide which is listed below: Trust Deed, Memorandum of Association, or Society Bye laws These foundational documents are critical for establishing the legitimacy and purpose of your organization. Depending on the type of entity, you'll need one of the following: Trust Deed : If you're a trust, you need a trust deed that outlines the objectives and rules governing the trust. Memorandum of Association : If you're a section 8 company, you should have a memorandum of association. Society Bye-laws : Societies require bye-laws that detail their objectives, membership rules, and operational guidelines. PAN Card You'll need a copy of the Permanent Account Number (PAN) card for your organization. This is crucial for tax-related transactions and identification. Bank Account Details Provide proof of your organization's bank account. This includes a bank statement or a letter from the bank confirming the existence of the account. Registration Certificate If your organization is registered under the relevant state laws, include a copy of the registration certificate. This further establishes your legal status. Donation Receipts and Utilization Reports To demonstrate your organization's non-profit activities, include donation receipts issued to donors and reports on how these funds were utilized for charitable purposes. Audited Financial Statements Include audited financial statements, including income and expenditure statements and balance sheets, for the past few years. This showcases your organization's financial transparency. Starting from April 1, 2021, there have been significant changes in the registration process for NGOs under the Income Tax Act. Let's delve into these transformations: For existing NGOs, the Principal Commissioner reviews applications, ensuring that genuine activities are conducted. Dissatisfaction can lead to rejection, with a fair hearing granted before a final decision. Registration Procedure The registration procedure is outlined in Rule 17A: Application Forms: Existing NGOs: Form No. 10A New NGOs: Form No. 10AB Required Documents: Pan Card with IT Login & Password Trust Deed or Creating Instrument (Self-Certified) Registration Certificate of Trust/Society/Section 8 Company (Self-Certified) Copy of FCRA Registration Certificate (if applicable, Self-Certified) Copy of 12A Income Tax Registration Certificate (if re-applying, Self-Certified) Copies of Annual Accounts (up to 3 years if applicable) Documentation for any changed or modified objectives Notes on Trust/Society activities Filing Process: Submit Form No. 10A or 10AB online via the Income Tax website (www.incometax.gov.in ). E-Verify or digitally sign the application. 4: Receiving Your Registration Certificate Once your application is approved, you'll receive a registration certificate under Section 12A of the Income Tax Act. This certificate officially grants your organization tax-exempt status. 5: Post-Approval Compliance After obtaining 12A registration, your organization must continue to maintain proper books of accounts, file annual returns, and comply with tax laws to retain its tax-exempt status. Steps for Online Application for Section 12A Registration Steps for Online Application for Section 12A Registration Step 1: Go to the official Income Tax Department website (www.incometax.gov.in ). Step 2: Register/Login: Create an account or log in if you already have one. Step 3: Navigate to the e-filing portal and select "Apply for registration under Section 12A." Step 4: Fill out Form No. 10A (Application for registration under Section 12A) with accurate details. Step 5: Upload the required documents, including the trust deed, registration certificate, and other supporting documents as specified in the form. Ensure they are self-certified. Step 6: Review the information provided in the form and the uploaded documents for accuracy and completeness. Step 7: Submit the application. Step 8: Pay any applicable fees or charges as per the current guidelines. Currently there are no charges officially Step 9: Receive an acknowledgment or receipt for the submission. Step 10: Wait for the processing of your application. The order for registration will be passed within 3 months for new NGOs who will be granted provisional Registration. For Final Registration, the processing time is 6 months. You may check the status of your application online. Step 11: If the application is approved, you will receive the Section 12A registration certificate. Step 12: Keep a copy of the registration certificate for your records and for future reference. Key Points to Note : Compliance and Reporting Obligations Maintaining your 12A registration status involves adhering to specific compliance and reporting obligations. Non-Compliance and Penalties Non-compliance with the registration and compliance requirements for NGOs can lead to various penalties and legal consequences. It is crucial for NGOs to adhere to the provisions of the Income Tax Act to maintain their tax-exempt status and avoid potential legal actions. Below, we outline some of the common areas of non-compliance and the corresponding penalties: NGOs can seek various benefits by obtaining 12A registration, as it grants them tax exemption under Section 12A of the Income Tax Act. This registration can be applied for online. It's essential for NGOs to file their income tax returns in India to maintain their tax-exempt status and benefit from the 12A certificate. Additionally, there's a provision for 12AB registration renewal to ensure ongoing compliance with tax regulations. Section 12A is a significant part of the Income Tax Act, offering tax benefits to registered NGOs. Obtain your 12A registration certificate to enjoy these advantages. ફોર્મ 10 એ પર હંમેશા પૂછાતા પ્રશ્નો શું તમે આઇટી વિભાગ સાથે તમારી એનજીઓનું નોંધણી શોધી રહ્યાં છો - અહીં ક્લિક કરો PDF માં ફોર્મ 10Aની જરૂર છે ફોર્મ 10A-PDF ફોર્મ 10AB PDF