Aadhar Pan Link deadline extended- The aadhar PAN link deadline has been extended to 30th September 2019. Central Borad of Direct taxes (CBDT) has pronounced the extension in aadhar card linking with pan card on 31st March 2019. vide its notification no 31/2019.
1. Without logging in to your account (2 step procedure)
Step 1: Go to www.incometaxindiaefiling.gov.in and click on the link on the left pane – Link Aadhaar
Step 2: Enter the following details:
PAN;
Aadhaar no.; and
Name as exactly specified on the Aadhaar card (avoid spelling mistakes)
After entering the details click on submit. Post verification from UIDAI the linking will be confirmed.
In case of any minor mismatch in Aadhaar name provided, Aadhaar OTP will be required. Please ensure that the date of birth and gender in PAN and Aadhaar are exactly same. In a rare case where Aadhaar name is completely different from name in PAN, then the linking will fail and taxpayer will be prompted to change the name in either Aadhaar or in PAN database.
2. Logging in to your account (6 step procedure)
Step 1: Register yourself at the income tax e filing portal, if you are not already registered.
Step 2: Log in to the e-Filing portal of the Income Tax Department by entering the login ID, password and date of birth
Step 3: After logging in to the site, a pop up window will appear prompting you to link your PAN card with Aadhaar card. If you don’t see the popup, go to blue tab on the top bar named ‘Profile Settings’ and click on ‘Link Aadhaar’.
Step 4: Details such as name, date of birth and gender will already be mentioned as per the details submitted at the time of registration on the e-Filing portal. Verify the details on screen with the ones mentioned on your Aadhaar card.
Step 5: If the details match, enter your Aadhaar number and captcha code and click on the “Link now” button.
Step 6: A pop-up message will inform you that your Aadhaar number has been successfully linked to your PAN card.
3. Linking of Aadhaar Number and PAN via SMS
Now you can link your Aadhaar and PAN through SMS also. The Income Tax Department has urged taxpayers to link their Aadhaar with their PAN, using an SMS-based facility. It can be done by sending an SMS to either 567678 or 56161. Send SMS to 567678 or 56161 from your registered mobile number in the following format: UIDPAN<SPACE><12 digit Aadhaar><Space><10 digit PAN> Example: UIDPAN 123456789123 AKPLM2124M
Step 1: Go to www.incometaxindiaefiling.gov.in and click on the link on the left pane – Link Aadhaar
Step 2: Enter the following details:
PAN;
Aadhaar no.; and
Name as exactly specified on the Aadhaar card (avoid spelling mistakes)
After entering the details click on submit. Post verification from UIDAI the linking will be confirmed.
In case of any minor mismatch in Aadhaar name provided, Aadhaar OTP will be required. Please ensure that the date of birth and gender in PAN and Aadhaar are exactly same. In a rare case where Aadhaar name is completely different from name in PAN, then the linking will fail and taxpayer will be prompted to change the name in either Aadhaar or in PAN database.
2. Logging in to your account (6 step procedure)
Step 1: Register yourself at the income tax e filing portal, if you are not already registered.
Step 2: Log in to the e-Filing portal of the Income Tax Department by entering the login ID, password and date of birth
Step 3: After logging in to the site, a pop up window will appear prompting you to link your PAN card with Aadhaar card. If you don’t see the popup, go to blue tab on the top bar named ‘Profile Settings’ and click on ‘Link Aadhaar’.
Step 4: Details such as name, date of birth and gender will already be mentioned as per the details submitted at the time of registration on the e-Filing portal. Verify the details on screen with the ones mentioned on your Aadhaar card.
Step 5: If the details match, enter your Aadhaar number and captcha code and click on the “Link now” button.
Step 6: A pop-up message will inform you that your Aadhaar number has been successfully linked to your PAN card.
3. Linking of Aadhaar Number and PAN via SMS
Now you can link your Aadhaar and PAN through SMS also. The Income Tax Department has urged taxpayers to link their Aadhaar with their PAN, using an SMS-based facility. It can be done by sending an SMS to either 567678 or 56161. Send SMS to 567678 or 56161 from your registered mobile number in the following format: UIDPAN<SPACE><12 digit Aadhaar><Space><10 digit PAN> Example: UIDPAN 123456789123 AKPLM2124M
Rule of Issuing Invoice in GST for financial year 2019-20 According to Rule 46 (b) of the CGST Rules 2017, it has been specified that the GST tax invoice issued by a registered person
-should have a consecutive serial number,
-not exceeding 16 characters
-in one or multiple series
-containing alphabets or numerals or special characters and any combination thereof unique for a financial year.
This rule implies that with the start of new financial year 2019-20 (w.e.f. 01/04/2019), a new invoice series, unique for the financial year is to be started by the GST taxpayers.
Similar provision is there in Rule 49 of the CGST Rules 2017, in respect of issue of Bill of Supply by registered taxpayers availing Composition Scheme or supplying exempted goods or services or both.
If the provisions of Rule 46 or Rule 49 are not adhered to, apart from being a compliance issue, taxpayers may face problem while generating E-Way Bill on E-way bill system or furnishing their Form GSTR 1 or for applying for refund on GST Portal.
It is therefore necessary that suitable modification may be made by the taxpayers in this regard in their invoices or bill of supply, to avoid any inconvenience in the future.
Extract of Rule 46 to 49 of CGST Rules 2017 related to Tax Invoice under GST are as follows:-
46. Tax invoice.- Subject to rule 54, a tax invoice referred to in section 31 shall be issued by the registered person containing the following particulars, namely,-
(a) name, address and Goods and Services Tax Identification Number of the supplier;
(b) a consecutive serial number not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special characters-hyphen or dash and slash symbolised as “-” and “/” respectively, and any combination thereof, unique for a financial year;
(c) date of its issue;
(d) name, address and Goods and Services Tax Identification Number or Unique Identity Number, if registered, of the recipient;
(e) name and address of the recipient and the address of delivery, along with the name of the State and its code, if such recipient is un-registered and where the value of the taxable supply is fifty thousand rupees or more;
(f) name and address of the recipient and the address of delivery, along with the name of the State and its code, if such recipient is un-registered and where the value of the taxable supply is less than fifty thousand rupees and the recipient requests that such details be recorded in the tax invoice;
(g) Harmonised System of Nomenclature code for goods or services;
(h) description of goods or services;
(i) quantity in case of goods and unit or Unique Quantity Code thereof;
(j) total value of supply of goods or services or both;
(k) taxable value of the supply of goods or services or both taking into account discount or abatement, if any;
(l) rate of tax (central tax, State tax, integrated tax, Union territory tax or cess);
(m) amount of tax charged in respect of taxable goods or services (central tax, State tax, integrated tax, Union territory tax or cess);
(n) place of supply along with the name of the State, in the case of a supply in the course of inter-State trade or commerce;
(o) address of delivery where the same is different from the place of supply;
(p) whether the tax is payable on reverse charge basis; and
(q) signature or digital signature of the supplier or his authorised representative:
Provided that the Board may, on the recommendations of the Council, by notification, specify-
(i) the number of digits of Harmonised System of Nomenclature code for goods or services that a class of registered persons shall be required to mention, for such period as may be specified in the said notification; and
(ii) the class of registered persons that would not be required to mention the Harmonised System of Nomenclature code for goods or services, for such period as may be specified in the said notification:
Provided further that where an invoice is required to be issued under clause (f) of sub-section (3) of section 31, a registered pe
-should have a consecutive serial number,
-not exceeding 16 characters
-in one or multiple series
-containing alphabets or numerals or special characters and any combination thereof unique for a financial year.
This rule implies that with the start of new financial year 2019-20 (w.e.f. 01/04/2019), a new invoice series, unique for the financial year is to be started by the GST taxpayers.
Similar provision is there in Rule 49 of the CGST Rules 2017, in respect of issue of Bill of Supply by registered taxpayers availing Composition Scheme or supplying exempted goods or services or both.
If the provisions of Rule 46 or Rule 49 are not adhered to, apart from being a compliance issue, taxpayers may face problem while generating E-Way Bill on E-way bill system or furnishing their Form GSTR 1 or for applying for refund on GST Portal.
It is therefore necessary that suitable modification may be made by the taxpayers in this regard in their invoices or bill of supply, to avoid any inconvenience in the future.
Extract of Rule 46 to 49 of CGST Rules 2017 related to Tax Invoice under GST are as follows:-
46. Tax invoice.- Subject to rule 54, a tax invoice referred to in section 31 shall be issued by the registered person containing the following particulars, namely,-
(a) name, address and Goods and Services Tax Identification Number of the supplier;
(b) a consecutive serial number not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special characters-hyphen or dash and slash symbolised as “-” and “/” respectively, and any combination thereof, unique for a financial year;
(c) date of its issue;
(d) name, address and Goods and Services Tax Identification Number or Unique Identity Number, if registered, of the recipient;
(e) name and address of the recipient and the address of delivery, along with the name of the State and its code, if such recipient is un-registered and where the value of the taxable supply is fifty thousand rupees or more;
(f) name and address of the recipient and the address of delivery, along with the name of the State and its code, if such recipient is un-registered and where the value of the taxable supply is less than fifty thousand rupees and the recipient requests that such details be recorded in the tax invoice;
(g) Harmonised System of Nomenclature code for goods or services;
(h) description of goods or services;
(i) quantity in case of goods and unit or Unique Quantity Code thereof;
(j) total value of supply of goods or services or both;
(k) taxable value of the supply of goods or services or both taking into account discount or abatement, if any;
(l) rate of tax (central tax, State tax, integrated tax, Union territory tax or cess);
(m) amount of tax charged in respect of taxable goods or services (central tax, State tax, integrated tax, Union territory tax or cess);
(n) place of supply along with the name of the State, in the case of a supply in the course of inter-State trade or commerce;
(o) address of delivery where the same is different from the place of supply;
(p) whether the tax is payable on reverse charge basis; and
(q) signature or digital signature of the supplier or his authorised representative:
Provided that the Board may, on the recommendations of the Council, by notification, specify-
(i) the number of digits of Harmonised System of Nomenclature code for goods or services that a class of registered persons shall be required to mention, for such period as may be specified in the said notification; and
(ii) the class of registered persons that would not be required to mention the Harmonised System of Nomenclature code for goods or services, for such period as may be specified in the said notification:
Provided further that where an invoice is required to be issued under clause (f) of sub-section (3) of section 31, a registered pe
rson may issue a consolidated invoice at the end of a month for supplies covered under sub-section (4) of section 9, the aggregate value of such supplies exceeds rupees five thousand in a day from any or all the suppliers:
[Provided also that in the case of the export of goods or services, the invoice shall carry an endorsement “SUPPLY MEANT FOR EXPORT/SUPPLY TO SEZ UNIT OR SEZ DEVELOPER FOR AUTHORISED OPERATIONS ON PAYMENT OF INTEGRATED TAX” or “SUPPLY MEANT FOR EXPORT/SUPPLY TO SEZ UNIT OR SEZ DEVELOPER FOR AUTHORISED OPERATIONS UNDER BOND OR LETTER OF UNDERTAKING WITHOUT PAYMENT OF INTEGRATED TAX”, as the case may be, and shall, in lieu of the details specified in clause (e), contain the following details, namely,- (i) name and address of the recipient; (ii) address of delivery; and (iii) name of the country of destination:]1
Provided also that a registered person may not issue a tax invoice in accordance with the provisions of clause (b) of sub-section (3) of section 31 subject to the following conditions, namely,-
(a) the recipient is not a registered person; and
(b) the recipient does not require such invoice, and
shall issue a consolidated tax invoice for such supplies at the close of each day in respect of all such supplies.
[Provided also that in the case of the export of goods or services, the invoice shall carry an endorsement “SUPPLY MEANT FOR EXPORT/SUPPLY TO SEZ UNIT OR SEZ DEVELOPER FOR AUTHORISED OPERATIONS ON PAYMENT OF INTEGRATED TAX” or “SUPPLY MEANT FOR EXPORT/SUPPLY TO SEZ UNIT OR SEZ DEVELOPER FOR AUTHORISED OPERATIONS UNDER BOND OR LETTER OF UNDERTAKING WITHOUT PAYMENT OF INTEGRATED TAX”, as the case may be, and shall, in lieu of the details specified in clause (e), contain the following details, namely,- (i) name and address of the recipient; (ii) address of delivery; and (iii) name of the country of destination:]1
Provided also that a registered person may not issue a tax invoice in accordance with the provisions of clause (b) of sub-section (3) of section 31 subject to the following conditions, namely,-
(a) the recipient is not a registered person; and
(b) the recipient does not require such invoice, and
shall issue a consolidated tax invoice for such supplies at the close of each day in respect of all such supplies.
Hi all : Happy to Announce our First Blog on Phoenix Auditing website.
Request all of your to spend few minutes on this and leave your Valuable Feedback. Below is the link for the same.
Link : http://phoenixauditing.com/blog/tax-brackets-in-india-for-fy-2019-20/
Request all of your to spend few minutes on this and leave your Valuable Feedback. Below is the link for the same.
Link : http://phoenixauditing.com/blog/tax-brackets-in-india-for-fy-2019-20/
Happy to see all the positive comments form all of you. Have not read our blog yet? Spend few minutes and go through our blog and leave your feedback in comments section. We would be publishing a details blog today on the Tax filing for Investors and Traders. This information is no where available over internet so far. We will make it simple in our website.
Link : http://phoenixauditing.com/blog/tax-brackets-in-india-for-fy-2019-20/
Link : http://phoenixauditing.com/blog/tax-brackets-in-india-for-fy-2019-20/
The most important blog every Trader and Investors should read. We have written a blog on the Tax Filing Requirement for all the Traders and Investors. Go through the blog and know what kind of ITR you should be filing this year. Read the complete blog and leave your feedbak and queries in the comments section. we will be replying your queries as early as possible.
Link : http://phoenixauditing.com/blog/taxation-and-return-filing-for-stock-market-traders-and-investors/
A bold move from Phoenix Auditing. Happy Knowledge Sharing in Taxation Field.
Link : http://phoenixauditing.com/blog/taxation-and-return-filing-for-stock-market-traders-and-investors/
A bold move from Phoenix Auditing. Happy Knowledge Sharing in Taxation Field.
Thanks for your valuable feedback for our Blog. We are getting a good response from all . Happy to see that. Those who has not seen our blog spend few minutes and leave your feedback and queries in comments session it will enrich your knowledge. We are trying to make it simple in our website
We will discuss aboy Advance Tax and Due dates before which Advance Taxes need to be Paid
Advance Tax
Also referred to as ‘pay as you earn tax’ in contrast to the scheduled annual tax payment tax procedures, Advance Tax is paid on a Presumptive basis.
Taxpayers, Businesses, Salaried Individuals and freelancers with tax liabilities greater than Rs 10,000 for the current Financial Year are needed to pay advance tax in four installments throughout the financial year in which they earn income.
The taxpayers need to pay Advance Tax as per the following table:
Advance Taxes of Income Tax for FY 2018-19 & AY 2019-20
Due Date Pay Advance Tax
On or Before 15th June 15%
On or Before 15th September 45%
On or Before 15th December 75%
On or Before 15th March 100%
For businesses who have opted for Presumptive Taxation Scheme 100% of advance tax is payable by 31st March.
Also referred to as ‘pay as you earn tax’ in contrast to the scheduled annual tax payment tax procedures, Advance Tax is paid on a Presumptive basis.
Taxpayers, Businesses, Salaried Individuals and freelancers with tax liabilities greater than Rs 10,000 for the current Financial Year are needed to pay advance tax in four installments throughout the financial year in which they earn income.
The taxpayers need to pay Advance Tax as per the following table:
Advance Taxes of Income Tax for FY 2018-19 & AY 2019-20
Due Date Pay Advance Tax
On or Before 15th June 15%
On or Before 15th September 45%
On or Before 15th December 75%
On or Before 15th March 100%
For businesses who have opted for Presumptive Taxation Scheme 100% of advance tax is payable by 31st March.
The most important blog every Trader and Investors should read. We have written a blog on the Tax Filing Requirement for all the Traders and Investors. Go through the blog and know what kind of ITR you should be filing this year. Read the complete blog and leave your feedbak and queries in the comments section. we will be replying your queries as early as possible.
Link : http://phoenixauditing.com/blog/taxation-and-return-filing-for-stock-market-traders-and-investors/
A bold move from Phoenix Auditing. Happy Knowledge Sharing in Taxation Field.
Link : http://phoenixauditing.com/blog/taxation-and-return-filing-for-stock-market-traders-and-investors/
A bold move from Phoenix Auditing. Happy Knowledge Sharing in Taxation Field.
Announcement from Phoenix Auditing : From this month onwards we are taking up the work of GST Filing.
1 - Are you tired of service form your Auditor on GST Filing?
2 - Is your GST Filing is getting delayed and ending up in Paying Penalty?
3 - Not having proper records of GST Flling?
4 - Are you paying high amount for GST Filing?
Now it's time to swtich to Phoenix Auditing Services for best service with competative prices.
Reach us @PhoenixAuditingTeam or call us at +91 96208 88014.
1 - Are you tired of service form your Auditor on GST Filing?
2 - Is your GST Filing is getting delayed and ending up in Paying Penalty?
3 - Not having proper records of GST Flling?
4 - Are you paying high amount for GST Filing?
Now it's time to swtich to Phoenix Auditing Services for best service with competative prices.
Reach us @PhoenixAuditingTeam or call us at +91 96208 88014.
Update form Phoenix Auditing : We have written a new blog in our Phoenix Auditing Website. Today's topic is "Income Tax Returns & Filings of ITR"
Please read the blog in the link and leave your valuable comments : http://phoenixauditing.com/blog/income-tax-returns-filings-of-itr/
Please read the blog in the link and leave your valuable comments : http://phoenixauditing.com/blog/income-tax-returns-filings-of-itr/
Today Topic - Purchase and Sale of Immovable Property in India by NRI/OCI
NRI/OCIs are permitted to acquire the immovable property in India in the following manner:
1. Purchase;
2. Gift;
3. Inheritance;
TERMS USED:
1. Business Owner: means a person resident outside India who has established a branch office or project office or any other place of business in India accordance with FEMA provisions;
2. NRI: Indian citizen, resident outside India;
3. OCI: Overseas Citizen of India who is registered as an OCI Cardholder under the Citizenship Act, 1955;
4. Relative: Refers to the relative defined under section 2(77) of Companies Act, 2013;
5. Restricted Property: means the following immovable property (a) agricultural land or (b) plantation property or (c) farm house property;
6. Restricted Countries: Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, Bhutan, Hong Kong or Macau or Democratic People’s Republic of Korea (DPRK)
1. Purchase;
2. Gift;
3. Inheritance;
TERMS USED:
1. Business Owner: means a person resident outside India who has established a branch office or project office or any other place of business in India accordance with FEMA provisions;
2. NRI: Indian citizen, resident outside India;
3. OCI: Overseas Citizen of India who is registered as an OCI Cardholder under the Citizenship Act, 1955;
4. Relative: Refers to the relative defined under section 2(77) of Companies Act, 2013;
5. Restricted Property: means the following immovable property (a) agricultural land or (b) plantation property or (c) farm house property;
6. Restricted Countries: Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, Bhutan, Hong Kong or Macau or Democratic People’s Republic of Korea (DPRK)
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🔸 ITR-1 🔸 ITR-2 🔸 ITR-3
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✳ Business Formations - Registrations of
🔸 Sole Proprietorship 🔸 Partnership Firm 🔸 One Person Company 🔸 Limited Liability Partnership
✳ Legal Registrations - 🔸 GST Registration 🔸 Professional Tax Registration 🔸 TAN Registration 🔸 Provident Fund Registration 🔸 Import Export Code 🔸 MSME Registration 🔸 ESI Registration 🔸 Shop & Establishment Registration 🔸 Digital Signature Certificate
✳ Filing of Income Tax Returns - (ITR)
🔸 ITR-1 🔸 ITR-2 🔸 ITR-3
✳ Other Service - 🔸 GST Return Filings 🔸 TDS Return Filings 🔸 GST Advisory Services 🔸 TDS Advisory Services 🔸 Income Tax Advisory Services To know more details get in touch with us @PhoenixAuditingTeam Contact: 9620888014