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2019

Income Tax Return Filing Checklist

The Income Tax Return Filing due dates for Previous Year 2018-19 (Assessment Year 2019-20) are 31st July 2019 for Individuals, HUF, BOI & AOP and 30th September 2019 for businesses which are required to get their accounts audited. There are many queries and confusions particulars to individuals while filing ITR. In this article we will try to cover all the important topics everyone must keep in mind before filing ITR.

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2019

Important Changes in Income Tax Act

The Interim Budget 2019 has brought a sigh of relief to the common men due to some important announcements pertaining to tax relief. These amendments are applicable from FY 2019-20 starting from 1st April 2019. The corresponding Assessment Year for the same is 2020-21. Let us take a quick look at the important changes in Income Tax rules from a personal tax perspective.

2019

Last Date of ITR Filing for AY 18 19

  • The deadline to file Income tax returns for the Financial Year 2017-18 (Assessment year 2018-19) without any penalty was of July 31, 2018, which was later extended by one month to August 31, 2018.
  • Until last Assessment Year (AY) there was no penalty for filing belated income tax returns. Effective from the financial year 2017-18 a late filing fee was applicable for filing your returns after the due date i.e. 31st August 2018 under section 234F.

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.

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).

Financial Management