Any person having an estimated tax liability of Rs. 10,000 or more in a year is required to pay tax in advance. Advance tax applies to all the taxpayers, salaried, freelancers, and businesses. Senior citizens, who are 60 years or older, and do not run a business, are exempt from paying advance tax. This payment of tax
Tag: Income tax
This dashboard gives a brief note on which assessee details have been started, submitted, verified etc. The notification such as Birthday remainder, Statutory Dates, are also available on this panel.
This feature is a newly introduced feature in the Income Tax Auditor which helps the user to send Reports, Computation and ITR-V to the client. This feature also allows the user to get the copy of the aforesaid reports saved in the local system.
As per NSDL, TDS Return guideline and RPU Return flow, it is not possible to adjust multiple challan with one dedcutee entry. Possible solution is user can bifurcate deductee entry in two parts and adjust the same with each challan.
Table of contents FY 2019-20 & FY 2018-19 for both individual and corporate taxpayers To calculate and generate the Advance Tax Challan, please follow the steps provided below: Step 1: Step 2: Step 3: Step 4: Any person having an estimated tax liability of Rs. 10,000 or more in a year is required to pay tax in
In A.Y. 2018-19 the IT Department added a new schedule balance sheet – Ind AS and P&L A/c. Ind AS in ITR – 6 form. The Part A-BS-Ind AS and Part A-P&L-Ind AS are applicable in case of a company whose financial statements are drawn up in compliance to the Indian Accounting Standards (Ind AS) specified in
Table of contents A flow is being suggested for entering the information under section 44AD, AE, ADA Business in case of ITR 4 filing 1. Steps to be followed: For Balance sheet 2. Steps to be followed: For Profit & Loss account 3. Steps to be followed: For Business and profession head 4. Steps to
Table of contents Introduction to Section 112A – Income Tax on Long Term Capital Gain Impact with the amendment in Section 112 A Steps to import the Capital Gain template from software. Introduction to Section 112A – Income Tax on Long Term Capital Gain Vide Finance Bill 2018, the Government has come up with an
Table of contents WHAT IS LAN SETTING AND ITS OBJECTIVE LAN SETTING PROCESS WHAT IS LAN SETTING AND ITS OBJECTIVE LAN (Local Area Network) setup is developed by connecting two or more than two computers with each other using a physical connection or Wi-Fi in order to share files and data overtime. As specified above, Spectrum
Table of contents Process to Import 26AS directly to IT Software. This feature allows the user to import Advance Tax, TDS / TCS detail and 15G/H details directly from the Income Tax Website. Process to Import 26AS directly to IT Software. Step 1 : To import the 26AS Tax Details. Open the Income Tax software, go to Transactions → Tax Details option given in menu bar. Step 2: Click