SD Associates

29/04/2020

Hello Everyone!
I m providing you an Income Tax Calculator Excel utility made by me. Please use this excel utility and comment your suggestions.
Click the below link to download the file.

17/04/2017

Types of returns under GST

There are multiple return under the GST regime. The most common used return will be GSTR 1, 2 ,3, 4 & 9. GSTR 1, GSTR 2 & GSTR 3 will be submitted by all businesses on a monthly basis. GSTR 4 is submitted on a quarterly basis and GSTR 9 on an annual basis.

Return/Form Details Frequency Due Date
GSTR – 1 Outward sales by business Monthly 10th of next month
GSTR – 2 Purchases made by Business Monthly 15th of next month
GSTR – 3 GST monthly return along with the payment of amount of tax Monthly 20th of next month
GSTR – 4 Quarterly return for GST Quarterly 18th of month next quarter
GSTR – 5 Periodic return by Non-Resident foreign taxpayer. Monthly 20th of next month
GSTR – 6 Return for Input Service Distributor (ISD). Monthly 15th of next month
GSTR – 7 GST Return for TDS Monthly 10th of next month
GSTR – 8 GST return for ecommerce suppliers Monthly 10th of next month
GSTR – 9 GST Annual Return Annually 31st Dec of next financial year

17/04/2017

How to file GST Return?

Every registered taxable person has to furnish outward supply details in Form GSTR-1 (GST Returns-1) by the 10th of the subsequent month. On the 11th, the visibility of inward supplies is made available to the recipient in the auto-populated GSTR-2A. The period from 11th to 15th will allow for any corrections (additions, modifications and deletion) in Form GSTR-2A and submission in Form GSTR-2 by 15th of the subsequent month.The corrections (addition, modification and deletion) by the recipient in Form GSTR-2 will be made available to supplier in Form GSTR-1A. The supplier has to accept or reject the adjustments made by the recipient. The Form GSTR-1 will be amended according to the extent of correction accepted by supplier.

On 20th, the auto-populated return GSTR-3 will be available for submission along with the payment. After the due date of filing the monthly return Form GSTR-3, the inward supplies will be matched with the outward supplies furnished by supplier, and then the final acceptance of input tax credit will be communicated in Form GST ITC-1.

Also, the mismatch input tax credit on account of excess claims or duplication claims will be communicated in Form GST ITC-1. Discrepancies not ratified will be added as output tax liability along with interest. However, within the prescribed time, if it is ratified, the recipient will be eligible to reduce this output tax liability.

02/09/2016

Tax payable under IDS 2016 @45% of income disclosed in 3 instalments 25% by 30.11.16, 25% by 31.3.17 & balance by 30.9.17 visit www.incometaxindia.gov.in-ITDEPT

The Income Tax Department NEVER asks for your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mail.

20/08/2016

CBDT passed a new Notification on 18.08.2016 titled "Clarifications on the Income Declaration Scheme, 2016"

This notification is passed because of Questions raised by General Public to CBDT about Income Declaration Scheme, 2016 which is in force w.e.f. 01.06.2016.

In this Notification CBDT Clarify the procedure of calculating undisclosed income on different things and at different situations.

Hope this will help us a lot in calculating undisclosed income for Income Declaration Scheme, 2016. So, download the notification by click on the link below, read the FAQs and share your views.

http://www.incometaxindia.gov.in/communications/circular/circular29_14072016.pdf

20/08/2016

18/08/2016

18/08/2016

Hello Everyone!
My Self Sameer Bansal. Hope most of the people already know me. Well I created this page to promote my business and to help others.

You people can ask anything about Excel, Accountancy, Direct/Indirect Taxes and other business related questions by posting on my page and you will get a satisfactory answer within 12 hours.

Hope you will share your problems on my page.