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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)
❗❗ Happy to Announce that PhoenixAuditing is launching New Services❗❗
✳ 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
✳ 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
A. Due dates for Compliances under GST
11-05-19- Due date for filing GSTR-1 for m/o April 19 -> Applicable for taxpayers with Annual Aggregate turnover Above Rs. 1.50/- Crore or opted to file monthly Return (Rs. One Crore Fifty Lacs) only. Notification No. 44/2018 – Central Tax
10-05-19- Due date for filing GSTR-7 (to be filed by the persons who is required to deduct TDS under GST for the month of April 19.
10-05-19- Due date for filing GSTR-8 (to be filed by the by the e-commerce operators required to deduct TDS under GST for the m/o April 19.
20-05-19- Due date for filing GSTR-5 & 5A (to be filed by the Non-Resident taxable person & OIDAR for the m/o April 19.
13-05-2019- Due date for filing GSTR-6 (to be filed by the Input Service Distributor for the m/o April 19.
20-05-2019- GSTR-3B for the m/o April 19. Pay due Tax till this date.
RFD-10:- Eighteen months after end of the quarter for which refund is to be claimed
11-05-19- Due date for filing GSTR-1 for m/o April 19 -> Applicable for taxpayers with Annual Aggregate turnover Above Rs. 1.50/- Crore or opted to file monthly Return (Rs. One Crore Fifty Lacs) only. Notification No. 44/2018 – Central Tax
10-05-19- Due date for filing GSTR-7 (to be filed by the persons who is required to deduct TDS under GST for the month of April 19.
10-05-19- Due date for filing GSTR-8 (to be filed by the by the e-commerce operators required to deduct TDS under GST for the m/o April 19.
20-05-19- Due date for filing GSTR-5 & 5A (to be filed by the Non-Resident taxable person & OIDAR for the m/o April 19.
13-05-2019- Due date for filing GSTR-6 (to be filed by the Input Service Distributor for the m/o April 19.
20-05-2019- GSTR-3B for the m/o April 19. Pay due Tax till this date.
RFD-10:- Eighteen months after end of the quarter for which refund is to be claimed
B. Due dates for Compliance under Income tax
07-05-19 – Due date for deposit of Tax deducted by an assessee other than an office of the Government for the month of April 19. However, all sum deducted by an office of the government shall be paid to credit of Central Government on the same day where tax is paid without production of an Income-tax Challan
15-05-19- Due date for issue of TDS Certificate for tax deducted u/s 194-IA (TDS on Immovable property) in m/o March 19
15-05-19 – Due date for issue of TDS Certificate for tax deducted under section 194-IB (TDS on Certain Rent payment) in m/o March 19
15-05-19 -Due date for furnishing of Form 24G by an office of Government where TDS for m/o April 19 has been paid without production of a challan
15-05-19 -Quarterly statement of TCS deposited for the quarter ending March 31, 2019
30-05-19 -Due date for furnishing of challan-cum-statement in respect of tax deducted u/s 194-IA in month of April 19
30-05-19 -Due date for furnishing of challan-cum-statement in respect of tax deducted u/s 194-IB in month of April 19
31-05-19 –Quarterly statement of TDS deposited for the Quarter ending March 31st, 2019
07-05-19 – Due date for deposit of Tax deducted by an assessee other than an office of the Government for the month of April 19. However, all sum deducted by an office of the government shall be paid to credit of Central Government on the same day where tax is paid without production of an Income-tax Challan
15-05-19- Due date for issue of TDS Certificate for tax deducted u/s 194-IA (TDS on Immovable property) in m/o March 19
15-05-19 – Due date for issue of TDS Certificate for tax deducted under section 194-IB (TDS on Certain Rent payment) in m/o March 19
15-05-19 -Due date for furnishing of Form 24G by an office of Government where TDS for m/o April 19 has been paid without production of a challan
15-05-19 -Quarterly statement of TCS deposited for the quarter ending March 31, 2019
30-05-19 -Due date for furnishing of challan-cum-statement in respect of tax deducted u/s 194-IA in month of April 19
30-05-19 -Due date for furnishing of challan-cum-statement in respect of tax deducted u/s 194-IB in month of April 19
31-05-19 –Quarterly statement of TDS deposited for the Quarter ending March 31st, 2019
Update from Phoenix Auditing:
We have written a blog in our Phoenix Auditing website. Todays topic is "Tax Planning for Salaried Employees "
Please read tha blog in the link and leave your valuable comments : http://phoenixauditing.com/blog/tax-planning-for-salaried-employees-for-fy-2019-20/
We have written a blog in our Phoenix Auditing website. Todays topic is "Tax Planning for Salaried Employees "
Please read tha blog in the link and leave your valuable comments : http://phoenixauditing.com/blog/tax-planning-for-salaried-employees-for-fy-2019-20/
Phoenix Auditing
Update from Phoenix Auditing: We have written a blog in our Phoenix Auditing website. Todays topic is "Tax Planning for Salaried Employees " Please read tha blog in the link and leave your valuable comments : http://phoenixauditing.com/blog/tax-planning-for…
If you are earning salary upto Rs.9,75,000
Still no need to pay any taxes if your planning your expenses
Have a look at this article and leave your valuable feedback
Still no need to pay any taxes if your planning your expenses
Have a look at this article and leave your valuable feedback
we will be action form today onwards. You will get more updates form today.