Udyamica Professionals Have you selected wrong Assessment year, Wrong payment code, Wrong Pan/Tan? Then you will find this post useful in order to correct tax paid challan. Procedure of challan correction by banks (for physical challans): Income tax payments made on or after 1.9.2011, the following fields can be got corrected through the concerned bank branch: Assessment Year Major Head … Read more
Key highlights of the major changes in the Taxation Laws (Amendment) Bill, 2019 viz-a-viz Taxation Laws (Amendment) Ordinance. i.e Applicability of new concessional income tax rate for corporate 22% & 15% Changes in Section 115BAB 1. It has been proposed that the scope of new provisions of Section 115BAB shall be restricted to the income … Read more
Gst rate on job work services Background: Entry at item (id) had been inserted in Services Rate Notification No. 11/2017-Central Tax (Rate) dated June 28, 2017 (“Services Rate Notification”) under heading 9988 w.e.f October 1, 2019 to implement the recommendation of the GST Council to reduce rate of GST on all job work services, which earlier attracted 18% … Read more
As per Notification No. So 3266(E) [No. 63/2019 (F.No. 370142/11/2019-TPL)], Dated 12-9-2019, following table should be used for the Cost Inflation Index :- Sl. No. Financial Year Cost Inflation Index 1 2001-02 100 2 2002-03 105 3 2003-04 109 4 2004-05 113 5 2005-06 117 6 2006-07 122 7 2007-08 129 8 2008-09 137 9 … Read more