File last year’s Tax Returns before the due date 31st March 2018

Income Tax department has given the deadline as March 31st, 2018 for filing the income tax returns for the period FY 2015-16 and FY 2016-17. It is recommended that you start with the process immediately and file your tax returns much much before the last date to avoid last minute issues. Finish your Tax Returns … Continue reading File last year’s Tax Returns before the due date 31st March 2018

CBDT Notification – Rules amended to restrict depreciation rate at 40 per cent

Generally, depreciation is an allowance which is available for persons/entities having income from business or profession. As per the CBDT Notification No. 103/2016, the highest rate of depreciation allowable as per income tax has been restricted to 40% for all assets, which were eligible for depreciation at a rate higher than 40%. The amendment is applicable … Continue reading CBDT Notification – Rules amended to restrict depreciation rate at 40 per cent

List of GST Return Forms with Applicability, Type and Timeline

Under the unified taxation system of Goods & Services Tax (GST), returns are to be filed online through the portal - GST Network. Chapter IX of the Central GST Act, 2017, read with CGST Rules, 2017 contains the provisions of returns to be filed by various taxable persons. Forms Applicability Type Timeline GSTR-1  Every registered … Continue reading List of GST Return Forms with Applicability, Type and Timeline

The Foreign Trade (Development and Regulation) Act,1992

Chapter I – Preliminary 1. Short title and commencement. — ACT NO. 22 OF 1992. [7th August, 1992.] An Act to provide for the development and regulation of foreign trade by facilitating imports into, a, A augmenting exports from, India and for matters connected therewith or incidental thereto. BE it enacted by Parliament in the … Continue reading The Foreign Trade (Development and Regulation) Act,1992