Here we will tell you about are various things you need to know about Income Tax Calculator. You find any difficulty, then using this is a good idea.
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The concept of income tax is fairly simple – you work, earn revenue, and pay a part of your revenues to the government.
The more you earn, the more tax you’ll pay to the government.
Get here complete detailed explanation of income tax.https://asktaxman.co.uk/income-tax-explained
Return for the period of September is the last Return for making all the amendments & adjustments for the previous year.
Suppose, for example for the year 2020-21, GSTR 3B and GSTR 1 is the last return for filling all the amendments of the transactions related to the period April 2020 to March 2021.The following actions have to be taken before filing GST Return for the month of September :Reconcile Sales Turnover reported in GSTR 1 with that of BooksReconcile Sales Turnover reported in GSTR 3B with that of BooksCheck whether all the credit notes issues has been declared in GSTR 1 or not and the effect of the same is taken in GSTR 3B.Reconcile if invoices raised to customers are reported in B2B (customers with GSTIN) or in B2C (Unregistered customer)Reconcile whether all the advances have been reported in GSTR 3B and GSTR 1Reconcile whether the GST paid on advances have been adjusted once the invoice is issued or notReconciliation of ITC from GSTR 2A/2B with Inward RegisterFollow up with the vendors whose ITC is not appearing in GSTR 2B / GSTR 2ACheck whether all the debit notes issued to you have been reflected in GSTR 2A/2B or not.Reverse all the ineligible ITCReconcile HSN Summary with that of Sales Turnover.No additional claim of missing ITC may be made available post-filing of September GSTR 3B return.
Please thoroughly follow the above checklist before you file any September GST returns.The information provided in the Taxzona Blog does not constitute any legal, tax or financial advice.
It does not take into account your particular circumstances, objectives, legal and financial situation or needs.
Before acting on any information in the Taxzona Blog you should consider the appropriateness of the information for your situation in consultation with a professional advisor of your choosing.
How can NRIs avoid Double Taxation?Sometimes NRIs can get caught in double taxation.
For example, if an NRI receives any income in India, the country has the right to tax the income as the source state.
But the residential country of the NRI can also tax the income as the residence state.
In this case, the person may have to pay taxes twice on the same income.
To avoid this, India has DTAAs signed with various countries that clearly exempt the foreign taxes paid while filing the return of income of the NRIs in their home country.Visit for more information: https://www.imperialfin.com/services/nri-services/
