Blog

2019

Various Tax Saving Options under Section 80

As we are in the mid of March, which is the last month of the financial year, many of us are concerned as to where and how much to invest to save tax. As one can claim a set limit deduction from his / her income under the Income Tax Act, one must be very careful about the amount of investment. As with the last minute rush, one should also check with the smart options available to avoid investing in the schemes which do not suit or cater one’s needs or buying an investment which is not needed at all.

Archive


2019

To Do List for Accountants before 31st March 2019

As you are aware that Financial year 2018-19 is about to end, below are some of the points that shall be kept in mind prior to 31st March 2019:

2019

Provident Fund in India

As provident fund in India plays a major role in contributing the savings of the employee, it is the responsibility of all the citizens to understand the basic knowledge of provisions of the act. This article tries to explain the applicability, contribution rates, various methods for calculation of contribution, types of provident fund, taxability of contribution to various funds and so on.

2019

Limited Liability Partnership Formation in India

Limited Liability Partnership (LLP) is the combination of Partnership & Private Limited Company. It is separate legal entity & juristic person who is established under Limited Liability Partnership Act, 2008.

This act contains rules & regulations related to limited liability Partnership (LLP).

2019

Suspension of GST Registration

The insertion of the provisions relating to the suspension of GST registration is a welcome step for the GST registered taxpayer. With the insertion of suspension provisions, all those taxpayers who have applied for cancellation of GST registration would be relieved from the continuous compliance burden under the GST law during the period when the cancellation proceedings are in process.

2019

Key points for Tour Operators Travel Agents Registered under GST

Major Source of Income of Tour Operator & Travel Agents:

  1. Commission from Airlines’ & any mark up amount from passengers.
  2. Sale Tour Packages, both inbound and outbound.
  3. Travel Related Services like Visa, Passport etc.
  4. Commission from Hotel / Cruise.
  5. CAR Rental Services, Travel Insurance.
  6. Railway Reservations.

Financial Management