Know PF Withdrawal Rules – For Marriage, Medical Urgency, Home loan, Higher Education or in a Special Cases. In case of death, retirement, or 2 months’ unemployment, the employee can withdraw the entire amount in one single shot.
But in case of withdrawal before this period, only a portion of the entire deposited amount can be withdrawn in the form of an advance. The amount of this advance totally depends on the purpose and thus we will be discussing the PF advance withdrawal rules. Purchase or construction of the house Anyone can withdraw 90% of the current PF balance on the purchase or construction of the house only after serving that organization for 5 years. Home loan repayment or renovation People who are seeking help for the repayment of home loans can also withdraw 90% of the PF balance after being employed for 3 years in the same organization.In case of renovation, the maximum limit for advance withdrawal is 12X of your monthly salary and will be legit after 5 years of construction of the house.
Income Tax New Rules - Know Latest Income Tax Rules, News and Updates For Year 2021 - 2022. Union Budget 2021 has been announced in the parliament by Finance Minister Nirmala Sitharaman.
There have been some changes in the income tax rules that will come into effect from 1st, April 2021. These new Income Tax rules 2021 are very significant and have targeted some special category of income taxpayers. Budget 2021 has updated Income Tax rules for senior citizens, now the senior citizens of 75 and above age whose income source is pension and interest from fixed deposits in the same bank will be exempted to file ITR. Those senior citizens whose annual income source is from the bank only, now according to changes in section 194P, banks are supposed to deduct tax on senior citizens of 75 and above & they are free to file for the ITR.
The Finance Minister also proposes higher TDS on the taxpayers who are not filing their ITR and also tax will be deducted on the annual EPF contribution of more than Rupees 2.5 lakh. (B2B) Business To Business - Transaction, Advantages With Margpay. E-Invoicing QR Code - Why QR Code is Mandatory for B2C Transaction and how you can Generate E-Invoicing QR Code on IRP?
November 29, 2020 A notification has been issued by the CBIC to remove the penalty if B2C invoices fail to comply with the provisions of the dynamic QR code from December 1, 2020, to March 31, 2021.
November 10, 2020 Taxpayers with an average turnover above Rs. 100 Cr. in any of the previous financial years from 2017-18 must have an e-invoicing QR code from January 1, 2021. October 1, 2020 Thirty days of grace period has been provided to the taxpayers applicable to generate IRN or Invoice Reference Number. Top Benefits of E-Invoicing Software For Your Business. Latest Update On E-Invoicing Update on 1st Feb 2021 As per the update, the details are being auto-populated in the GSTR-1 return from the reported e-invoices.
Electronic Invoicing - Details You Need About Electronic Invoicing. GST e-invoicing was introduced by the GSTN to authenticate and systematize the B2B invoices electronically for further use on the GST portal.
It was introduced to ease the B2B reporting for the businesses whose yearly turnover is more than Rs. 100 Crore. Although on 1st October 2020, the central government of India has updated the GST e-invoicing scheme. Now, businesses with Rs.500 Crore and above are only supposed to generate invoices at the portal starting from 1st October 2020. This new e-invoicing feature has standardized the B2B e-invoicing system. The new and improved format of uploading and creating invoices is mechanically readable and easy to process. For further ease, a unique Invoice Reference Number (IRN) is assigned to all the e-invoices and can be validated by the Invoice Registration Portal (IRP).
E-Invoicing System, Objective and... Top Benefits of E-Invoicing Software For Your Business. Billing Software for Retail Shop. Marg eOwner App to keep complete track of your business eOwner keeps a strong vigilance on your business and is a perfect Management app for entrepreneurs (Retailers, Distributors & C&F's).
The app keeps eyes on Sales, Collection & GPS tracking of field staff which guarantees an increase in the sales revenue which influences on time business decision making power and assures 100% business success. eOwner is a cloud based system integrated with MARG ERP 9+ which provide real time information for businesses to take an instant business decision.The eOwner app allows you to manage multiple businesses at one go and gives an in-depth analysis of your inventory.
The app gives a clear view of your financial reports like balance sheet, cash& bank, profit & loss, debtors balance and creditors balance. The features of eOwner app For queries related to Mobile Apps support email id eapps@margcompusoft.com. Marg ERP For Retail, Distribution, Inventory, and Manufacturing. ISO Certified software Development Company In India/Delhi. Mr Krishnam Raju D has 12+ years of working experience in diverse fields with enriching knowledge & philosophy in his life is derived from timeless verses of The Gita - "If You Don't Fight For What You Want, Don't Cry For What You've Lost...”
Formally educated as an MBA from IIM Lucknow and B.Tech from M.E.R.I, he is Born and Brought-up in Hyderabad with professional stints and education in Kolkata, Mumbai, Lucknow, Bihar and Jharkand, Kerala etc. Having started his career in Telecom as a Product Manager, grown through organizations as a ZSM, Product Head and has been served as the Youngest General Manager in Vodafone India as Zonal Manager. His tryst with ERP Industry started with UdyogSoftware - helping the company reach heights of Business, Channel and Product Expansion as CEO of Udyog Software India Limited. He believes the "Essence of every successful Business will always be the Team behind the cause. Best Retail POS Software India. Marg eOwner App to keep complete track of your business eOwner keeps a strong vigilance on your business and is a perfect Management app for entrepreneurs (Retailers, Distributors & C&F's).
The app keeps eyes on Sales, Collection & GPS tracking of field staff which guarantees an increase in the sales revenue which influences on time business decision making power and assures 100% business success. eOwner is a cloud based system integrated with MARG ERP 9+ which provide real time information for businesses to take an instant business decision.The eOwner app allows you to manage multiple businesses at one go and gives an in-depth analysis of your inventory. The app gives a clear view of your financial reports like balance sheet, cash& bank, profit & loss, debtors balance and creditors balance.
इ-इन्वॉइसिंग - भारत में इ-इन्वॉइसिंग प्रणाली पर पूरी जानकारी Read In English “ई–वे बिल” को माल परिवहन के लिए जीएसटी पोर्टल पर भरा जा सकता है।
35 वीं बैठक में, GST परिषद ने निर्दिष्ट समूहों के लिए एक ई–चालान प्रणाली लागू की है। ऑनलाइन चालान बनाने की आवश्यकता नहीं है। Difference Between TDS and TCS (Tax Collected At Source) - Tax Slabs and Faqs. What is TDS?
Tax deducted at source or TDS, as its name suggests, is an indirect way of collecting the tax, and it leads to the collection of revenue at the recipient’s income. It integrates the phrase of ‘pay as you earn’ and ‘make collection when it will be earned’, which shows the result of, the collection of tax is brought forward. As per the Income Tax Act, any payment on certain expenses, which falls under the provision of TDS, are to be paid after the deduction of defined percentage.In short, at the time of making payment, the payer contains a certain percentage of the amount and that needs to be deposited with the government. In this way, the tax on income is charged in advance, rather than on a recent date and the recipient will get the net amount, i.e. after TDS.
Some examples of expenses for which TDS is charged are salary, casual income, interest on securities, rent payment, fees payment, and payment of commission or brokerage, and so on. E-invoicing - Guide On E-Invoicing System In India. Some of the key benefits of e-invoicing are as follows: Standardization The generated e-Invoice can be used for GST Returns i.e. GSTR 1 or GST ANX – 1 and for generating the e-way bill. The majority of the information in structure GSTR-1 can be saved prepared for documenting while at the same time utilizing e-invoicing format.
Seamless Reconciliation There would be seamless reconciliation and authentication of data between the suppliers and the recipient resulting in better control over Input Tax Credit (ITC) and claim. E-Invoicing Faqs - Complete E-Invoicing Q&A. Q-1 What documents are to be reported in the IRP? Ans: The below documents need to be reported to the Invoice Registration Portal Invoices by the supplierCredit Notes by the supplierDebit Notes by the supplierAny other document as required by law Q-2: How can be the invoice registered? Ans: The invoices can be registered by the following modes: Web-based, API based, Offline tool based and GSP based. 10 Important Things Of TCS On Sale Of Goods & FAQ's. The Finance Act 2020 introduced this section. It was originally intended to be effective on April 1, 2020, i.e. the beginning of FY 2020-21. Since it has been effective in the middle of Financial Year 2020-21, w.e.f. October 1, 2020, whether the sale consideration up to September 30 2020, of the amount exceeding Rs. 50 Lakh shall be determined is the main concern here.
Since Rs. 50 Lakh threshold limit is considered for the whole financial year, the sale consideration for receiving TCS under section 206C (1H) shall be calculated w.e.f. April 1, 2020. E-Invoicing Faq's - Complete E-Invoicing Q&A. GST Calculation Formula. What is GST Calculator? GST calculator is a simple, ready-to-use online calculator, designed to help you compute your total GST amount. It enables you to determine the net or gross price of your product based on percentage-based GST Rates. What is GST? GST is a type of indirect tax levied on the supply of goods and services. GST came into effect on July 1, 2017, after the bill was passed on March 29, 2017. The current rate of GST in India is 18%. Every organization gets a unique GST Number after registering under the GST policy. Know Your Pan - Steps How to Know Your PAN by Name, DOB, & Income Tax Portal. Form 26AS - Step By Step Guide To View and Download Form 26AS From TRACES Website.
What is Form 26AS? Form 26AS is one of the important forms while filing for your Income-tax return at the end of every accounting year by every taxpayer. This form is a statement against the tax that has been collected on your behalf through your employer, bank, tenant. It also includes all the information regarding any advance tax such as withholding tax or self-assessment tax you have paid throughout the year. Form 26AS is a solidified statement and declaration of income for the particular accounting year by a taxpayer under section 203AA of the Income Tax Act,1961. This form contains detailed information on the income generated from multiple jobs against your PAN (Permanent Account Number). In simple terms, you can say Form 26AS is a detailed assessment of the income generated by a taxpayer and tax paid by himself, the bank, or other deductees at the source.
Now, the Income-tax department has introduced some new rules and changes due to the COVID-19 pandemic in 2020. Overview. HDFC Net Banking - Steps How to Register, Login and Check Balance Using HDFC Net Banking. Tax Collected at Source ( TCS ) – Payment, Exemption & Rates of TCS Tax. What is TCS Tax? TCS tax full form Tax Collected at Source is the form of tax payable by the seller, which the seller collects from the Buyer at the time of the sale. Saving Schemes : Types, Benefits and Rate of Interest of Saving Schemes. Many people don’t know how to manage their money and many people don’t even have enough funds for their daily living.
SBI Corporate Banking - Features & Benefits of SBI Khata, SBI Saral, SBI Vyapaar and SBI Vistaar. With a huge network of whopping 15000 branches across India along with 5 associated banks in the remotest corners of India, State Bank of India is considered the largest bank in India. The SBI offers a vast range of banking services and products to its retail and corporate customers.
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