H N & Associates

14/09/2018

Link for Final GST Audit Form

08/09/2018

CBIC just released new format of GSTR FORM 9 ANNUAL RETURN

Here is the link

GST Annual Return Form GSTR 9 and GSTR 9A Notified by CBIC, GST Annual Return Format, GST Annual Return Format Notified, GST Annual Return Form download

13/08/2018

27/06/2018

ICSI: 30 JUN 2018 is the last date for payment of Annual Membership and CoP fee for 2018-19 due for payment from 1st Apr 2018.

# ICAI: 30 SEP 2018 is the last date for payment of Annual Membership and CoP fee for 2018-19 due for payment from 1st Apr 2018.

# GST Council to decide on inclusion of natural gas, ATF in GST.

21/04/2018

Glimpse of New requirements in ITR forms for AY 2018-19:

1. Additional disclosure requirements for Ind AS Compliant Companies.
[Applicable for ITR 6]

2. Fees for late filing of return [Section 234F].
[Applicable for ITR 1 to 7]

3. Require more details of salary and house property income.
[Applicable for ITR 1 and 4]

4. Additional details to be furnished by taxpayers opting for presumptive scheme such as amount of secured/unsecured loans, advances, fixed assets, capital account etc.
Further, new ITR 4 seeks GSTR no. of the assessee and turnover as per GST return filed by him.
[Applicable for ITR 4]

5. Transfer of TDS Credit to Other Person.
[Applicable for ITR 2 to 7]

6. Capital Gains in case of transfer of unquoted shares.
[Applicable for ITR 2, 3, 5, 6 and 7]

7. Reporting of sum taxable as Gift.
[Applicable for ITR 2, 3, 5, 6 and 7]

8. Now Partners cannot use ITR 2.

9. Revised Depreciation Schedule i.e. the highest rate of depreciation for any block of asset is restricted to 40%
[Applicable for ITR 3, 5 and 6]

10. Details of business transactions with registered and unregistered suppliers under GST.
[Applicable for ITR 6]

11. Assessee claiming DTAA relief is required to report more details.
[Applicable for ITR 2, 3, 5 and 6]

12. Info relating to capital gains exemption to be furnished in detail.
[Applicable for ITR 2, 3, 5 and 6]

13. Disallowance of expenses in case of TDS default (for residuary income).
[Applicable for ITR 2, 3, 5, 6 and 7]

14. Taxability on remission of trading liability in case of 'Income from other source'.
[Applicable for ITR 2, 3, 5, 6 and 7]

15. Income from transfer of Carbon Credits.
[Applicable for ITR 2, 3, 5, 6, 7]

16. Impact on profit or loss due to ICDS deviation.
[Applicable for ITR 3, 5 and 6]

17. Details of GST paid and refunded.
[Applicable for ITR 3, 5, and 6]

18. Removal of 'Gender' from personal information.
[Applicable for ITR 2, 3 and 4]

19. Details of foreign bank account of non-residents.
[Applicable for ITR 2, 3, 4, 5, 6 and 7]

20. Reporting of CSR appropriations.
[Applicable for ITR 6]

21. Break-up of payments/receipts in foreign currency.
[Applicable for ITR 6]

22. Ownership information in case of unlisted company.
[Applicable for ITR 6]

23. Trusts to disclose more information in ITR.
[Applicable for ITR 7]

24. Details of fresh registration upon change of objects [Section 12A].
[Applicable for ITR 7]

25. Taxability of Dividend in excess of Rs. 10 lakhs.[Section 115BBDA]
[Applicable for ITR 7]

26. No deduction for corpus donations made to other institutions [Section 11].
[Applicable for ITR 7]

27. Political Parties to confirm if cash donations are received [Section 13A].
[Applicable for ITR 7]

21/04/2018

Glimpse of New requirements in ITR forms for AY 2018-19:

1. Additional disclosure requirements for Ind AS Compliant Companies.
[Applicable for ITR 6]

2. Fees for late filing of return [Section 234F].
[Applicable for ITR 1 to 7]

3. Require more details of salary and house property income.
[Applicable for ITR 1 and 4]

4. Additional details to be furnished by taxpayers opting for presumptive scheme such as amount of secured/unsecured loans, advances, fixed assets, capital account etc.
Further, new ITR 4 seeks GSTR no. of the assessee and turnover as per GST return filed by him.
[Applicable for ITR 4]

5. Transfer of TDS Credit to Other Person.
[Applicable for ITR 2 to 7]

6. Capital Gains in case of transfer of unquoted shares.
[Applicable for ITR 2, 3, 5, 6 and 7]

7. Reporting of sum taxable as Gift.
[Applicable for ITR 2, 3, 5, 6 and 7]

8. Now Partners cannot use ITR 2.

9. Revised Depreciation Schedule i.e. the highest rate of depreciation for any block of asset is restricted to 40%
[Applicable for ITR 3, 5 and 6]

10. Details of business transactions with registered and unregistered suppliers under GST.
[Applicable for ITR 6]

11. Assessee claiming DTAA relief is required to report more details.
[Applicable for ITR 2, 3, 5 and 6]

12. Info relating to capital gains exemption to be furnished in detail.
[Applicable for ITR 2, 3, 5 and 6]

13. Disallowance of expenses in case of TDS default (for residuary income).
[Applicable for ITR 2, 3, 5, 6 and 7]

14. Taxability on remission of trading liability in case of 'Income from other source'.
[Applicable for ITR 2, 3, 5, 6 and 7]

15. Income from transfer of Carbon Credits.
[Applicable for ITR 2, 3, 5, 6, 7]

16. Impact on profit or loss due to ICDS deviation.
[Applicable for ITR 3, 5 and 6]

17. Details of GST paid and refunded.
[Applicable for ITR 3, 5, and 6]

18. Removal of 'Gender' from personal information.
[Applicable for ITR 2, 3 and 4]

19. Details of foreign bank account of non-residents.
[Applicable for ITR 2, 3, 4, 5, 6 and 7]

20. Reporting of CSR appropriations.
[Applicable for ITR 6]

21. Break-up of payments/receipts in foreign currency.
[Applicable for ITR 6]

22. Ownership information in case of unlisted company.
[Applicable for ITR 6]

23. Trusts to disclose more information in ITR.
[Applicable for ITR 7]

24. Details of fresh registration upon change of objects [Section 12A].
[Applicable for ITR 7]

25. Taxability of Dividend in excess of Rs. 10 lakhs.[Section 115BBDA]
[Applicable for ITR 7]

26. No deduction for corpus donations made to other institutions [Section 11].
[Applicable for ITR 7]

27. Political Parties to confirm if cash donations are received [Section 13A].
[Applicable for ITR 7]

Must read & Share....

21/04/2018

Happiness of a person shows his internal beauty of soul.Thoughts shows his status of mind; Behaviour shows the language of his heart.

The one who loves you truly will never leave you alone because even if there are hundred reasons to give up he/she will find one reason to hold on.

Income Tax Department warns salaried employees against filing wrong ITRs- Cautioning prosecution, employers also to be intimated.Press Trust of India.

E-Way Bill system for intra-state movement of goods wef 20.4.18 in Bihar, Jharkhand, Haryana, Himachal Pradesh, Tripura & Uttarakhand.

20.04.18 is Last Day to file GSTR-5 by foreign suppliers, non-resident, GSTR-5A for non resident foreign Taxpayers, GSTR-3B Return Summary, for March , 2018.

GST: Procedure for interception, detention, release/seizure of goods & vehicle without e-way bill. E-way bill no. on Invoice sufficient. Its printout not must. Number available on sms or otherwise also valid. Circular 41/15/2018-GST of 13.04.2018.

RBI has issued a notification w.r.t Liberalised Remittance Scheme (LRS) for Resident Individuals and daily reporting of transactions. Currently, transactions under Liberalised Remittance Scheme (LRS) are being permitted by AD banks based on the declaration made by the remitter.

DGFT has launched of facility to check status of Importer Exporter Code (IEC) application made to DGFT by the stakeholders. As IEC is ready for Import/ Export of goods only after IEC details get successfully registered at DGFT and accepted by ICEGATE (Customs).

02/02/2018

Satisfied life is better than successful life. Because our success is measured by others. But our satisfaction is measured by our own soul, mind and heart.

Never Try to test good people, Because good people are like mercury..When you hit them...They will not break, but they just slip away from your life silently.

Budget 2018.Standard Deduction of 40000 for Salaried. Conveyance allowance & Medical reimbursement taxable. No change in Personal Tax Rates. Higher cess of 4%.

Government to bear Employer PF contribution of 12% for new staff for 3 years. Women to contribute 8% PF for first 3 years but Employer contribution @ 10%/ 12%.

LTCG on shares of more than Rs 1 lac to be taxed @ 10% WITHOUT Indexation.

Difference in Circle rate of upto 5% not to be treated as income in property deals.

E-Way Bill: In view of difficulties faced by the trade in generating e-way bill due to initial tech glitches, it has been decided to extend the trial phase for generation of e-way bill, both for inter and intra-State movement of goods. Eway Bill for inter state movement of Goods will be applicable w.e.f. 21.2.18...
As per latest information...

18/01/2018

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🌹💥🌹💥🌹💥🌹💥🌹
*जिसकी सोच में*
*आत्मविश्वास की महक है*
*जिसके इरादों में*
*हौसले की मिठास है....*
*और* *जिसकी नीयत में*
*सच्चाई का स्वाद है.....*
*उसकी पूरी जिन्दगी*
*महकता हुआ " गुलाब " है .*
👏🏻 *प्यारी-सी सुबह का प्यारा-सा नमस्कार*
🌺🍀🌺🍀🌷🍀🌺🌼🌼
*💥🙏🏼🌞सुप्रभात🌞🙏🏼💥*

11/01/2018

There are no extension of GSTR 1 filling date as site are not working stilk today

27/12/2017

CBEC amend Form GSTR 1, Form GST RFD 01 - Notification No. 70/2017 -ct Dt. 21/12/2017