Finance (Taxation And Accounting)

Payment of TDS take place on or before 7th of every subsequent month, for eg: January month TDS should pay before 7th February. Filing of TDS takes place every quarter end. If you file after the due date then you have to pay the fee of Rs.200/-per day. If you delay in monthly payment then you have to pay Fee+Interest. So that file at least with one challan to avoid the heavy penalty within due date and later you can correct it through offline or online by using TDS Trace portal. Please find the below attachment to look how to do the  Corrections for the TDS with TDS trace portal(online) https://drive.google.com/open?id=12QI8gFPkw9Sbf0JeNGRfAkBkfBM9BIai

4 errors in GST return that could be too costly to ignore! Error No1 – Making payment under wrong head of GST i.e. Central GST (CGST) instead of Integrated GST (IGST) This is one of the asked queries of the taxpayers, as people are very confused between the three heads of GST i.e. IGST, CGST and State GST (SGST). Let us understand this query with the help of an example. Example : The summary of GST of the ABC Ltd for September 2017 is as follows: The total liability of the ABC Ltd is Rs1.55 crore and the total ITC available to the company is Rs51 lakh. Hence, Rs1.04 crore needs to be paid to the government. This is what the ideal situation should be.  The mistake Now, one can see that the total tax liability of ABC is Rs1.55 crore which is divided into three heads of GST. Now, at the time of payment of tax, the taxpayers are making payments under wrong heads, i.e. CGST instead of IGST and vice versa...

Due dates for GST filing GSTR-1 Quarterly Returns (Taxpayers with Annual Turnover upto Rs. 1.5 Crore who opt for Quarterly return filing) Period (Quarterly) Due dates July- Sept 10th January 2018 Oct- Dec 15th Feb 2018 Jan- Mar 30th April 2018 For Taxpayers with Annual turnover of more than Rs 1.5 cr and for Taxpayers with the Annual turnover of upto Rs 1.5 cr (who opt for monthly return filing instead of Quarterly return filing)  Period Dates July to Nov 10th Jan 2018 Dec 10th Feb 2018 Jan 10th Mar 2018 Feb 10th Apr 2018 March 10th May 2018 GSTR-2 and GSTR-3 filing dates for July 2017 to March 2018 will be worked out later by a GST Committee. GSTR-3B GSTR-3B has been extended to March 2018 All businesses to file GSTR-3B by 20th of next month till March 2018.  As per Latest update on 20th Jan...