Mahavir consultancy

19/05/2023

Contact for income tax return file . Rs 750/- for salaries person. Mob 077091 36859

This a consultancy firm provide services like Accounts , Gst and Income tax work

27/09/2021

LIC plan

01/04/2021

*Year end & New Year Challenges*
2020-21 ends yesterday
2021-22 begins today.

*BULLET POINTS*

*Income Tax*

*1.* During this year wef 01.07.2021 TDS @ 0.1% will have to be paid on Purchases of more than 50 Lacs if Turnover in FY 2020-21 exceeded 10 Crore. u/s 194Q.

*2.* Charitable Institutions/Trusts already registered with Income Tax Deptt will have to re-register themselves in 2021-22.

*3.* Income Tax Audit will not be required for FY 2020-21 for persons having turnover up to 10 Crores if Cash Component does not exceed 5% of total Receipts/Payments. Payments received or made by cheque other than Account Payee Cheques will be counted as cash component.

*4* ITR of FY 2020-21 can not be filed after 31.Dec’21. (means 3 months lesser period made available next year).


*GST*

*1.* Existing LUT for export without payment of IGST expired on 31.03.2021. Seek renewal for 2021-22.

*2.* Those who want to opt in or opt out of QRMP scheme for Q1/2021-22 can do so by 30.04.2021.

*3.* 31.03.2021 was last date of GST Audit and filling Annual Return of 2019-20. This Year’s Finance Bill has scrapped Sec 35(5). GST Audit, therefore stands abolished for coming years.

*4.* E-Invoicing made mandatory wef 01.04.2021 for dealers with Annual Turnover of 50 Cr or more in any preceding Year. Those buying from such dealers without E-Invoice will loose Input Tax Credit on such purchases.

*5.* Till now HSN code was not mandatory for dealers up to 1.5 Cr. 2/4 Digits HSN was required from others. Wef 01.04.2021 4 digits HSN has been made mandatory for dealers having Turnover up to 5 Cr in 2020-21 for B2B transactions. 6 Digits HSN is mandatory for others both for B2B & B2C transactions. Export Invoices will have 8 digits HSN as per the requirement of FTP (Foreign Trade Policy). HSN details will have to be given in GSTR1 also. Those who do not follow new HSN rules, will face penalty of 50,000.00 u/s 125 alongwith other liabilities.

*6.* QR code for B2C transactions for dealers having turnover more than 500 Cr in any preceding year is mandatory wef 01.04.2021.


*Companies Act*

Every Company which uses software to maintain its accounts, shall use such accounting software which has edit log of each and every transaction, every change made in books of accounts along with the date when such changes were made and ensuring that audit trail cannot be disabled. (Applicable from 01.04.2021)

Regards
BINTI VORA

7709136859

This a consultancy firm provide services like Accounts , Gst and Income tax work

13/07/2020

*Very interesting fact in Income Tax for FY 2019-20*

If total income is Rs. 5,00,000/- then Tax is Nil. But If Total income is 501,000/-, then Tax would be Rs. 13208/- (because rebate is allowed only to a person having income upto Rs. 5 lakhs).

If that person donates Rs. 1000/ in PM cares fund by 31.07.2020 , aur take any medicalim plan or any tax saveing plan before 31.07.2020 his income will reduce to Rs. 5 Lakhs and he will pay Nil Tax. By investing just Rs. 1000/- in tax saveing plan . he himself will save Rs. 13208/-

For more details contact now

02/06/2020

File your income tax return on time for salariez Rs 500 /- and for business depend on work

27/05/2020

LIC Jeevan Umang comes with the dual benefit of earning as well as saving for the security feature of the family it is one of the best LIC plan with profit and non linked whole life insurance plan the plan offer a hundred years cover which is quite an exceptional features of the insurance policy contact for more details

14/04/2020

Any one want to open life insurance then send me your date of birth in comment i will tell you best plan...As per currant siruation it is necessary to have lic for better life of our family Jindgi ke shate bhi jindgi ke bad bhi

01/04/2020

IT return only Rs 500 for salariez & for business depend on work