Latest news:  
  • Limit for E-Invoicing has been reduced to 5 crores from existing 10 crores respectively.



Home / All questions

 

Hey there, You can ask us Anything !!

all questions



Have a question regarding GST, Income Tax, Accounts, Finance, Trademark, FSSAI, Company Formation, Startup, MSME, or any such things then feel free to drop a question and we will try our best to resolve your query.

You can check your question getting answered within 24 Hours and ya, That’s a Promise !


Ask Question

ask question to finaccle



How can be income tax calculated in FY 2021-22 on Provident fund? . Intrest on PF also taxable?

As per current law, an employee's own contribution to the EPF account is not taxable. However, effective from April 1, 2020, the employer's contribution to the EPF account...

  •  R D Modi
  •  734 Views
  •  Income tax
  •  Ukai, Surat

My gst number was in the state of "cancelled suo moto".I filed all my pending returns upto the date of cancellation.Effective cancellation date is 19.03.2021. in gst portal i can't file revocation of application. What should I do now to get active gst number

Many taxpayers are facing this difficulty. In case you are not able to file revocation application on portal, file manual application with GST department. You should first visit d...

  •  Mary
  •  654 Views
  •  Income tax
  •  Trichy

If an individual has received a compensation / reward / muafza from the goverment against the compulsory land acquisition to exapnd highway then where should we declare such amount in Income tax while filing the ITR ?

The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013’, shortly known as RFCTLARR Act, which came into effect from January...

  •  ANAS YAWAR
  •  594 Views
  •  Income tax
  •  NEW DELHI

If i file my return u/s 44 ad for the past 3 years, turnover respectively Rs. 1.2 crore , 1 crore , 95 lakhs.Then i file my return in the 4 th year (turnover Rs.93 lakhs) under normal peovisions, with maintaing books of accounts. If am i eligible to file u/s 44 ad in the next year i.e 5 th year, assume that my turnover in the 5 th year is 98 lakhs???

No, you won't be eligible to opt for 44AD for the next 5 years as you have opted out once and have filed your return under normal provisions, presuming that by normal provisio...

  •  Radar
  •  587 Views
  •  Goods and Services Tax (GST)
  •  Thanjavur

Hello Sir, I am a software engineer. For year ending 31st March 21, my salary was 560000. I took LIC of Rs 14500 and medical premium of Rs 19850 for my family. what is my income tax liability?

There are two tax regime in Income tax i.e. old and new regime. You can use our tax calculator tool to compute income tax liability under both regime.  Our expert says Old reg...

  •  Riddhya Pandey
  •  561 Views
  •  Income tax
  •  Unknown

Date of my invoice is 14/01/2021. Value of invoice was Rs 450050 (including GST). on 5/6/21, my client paid me Rs 12000 additionally for late payment interest. My question is do I need to pay interest on GST portion of this Rs 12000 i.e 12000*12%= 1440 since my bill date was of January month and 3B should have been filed till 20th Feb 2021.

GST on interest for late payment has to be paid in the month in which it is received. Since you have received interest in the month of June,21, then you need to discharge GST liab...

  •  Adesh Jambusaria
  •  544 Views
  •  Goods and Services Tax (GST)
  •  Unknown

What is the last date of filing ITR of year 2019-20?

The last date to file Income Tax Return for the Financial year 2019-20 is 31st May 2021....

  •  Amir Tejani
  •  543 Views
  •  Income tax
  •  Unknown

I have filed my ITR on 04-01-2021 and refund was rs 45800, but i have not received it. How can i check status of same and what can be the reason for such delay? Please help

You can check your refund status at this link. The possible reason for delayed refund can be: 1. Incorrect bank details 2. ITR not verified yet 3. Refund may be adjusted...

  •  Uma Kirti
  •  534 Views
  •  Income tax
  •  Unknown

I have forgot to take input tax credit of Rs.5428 for the month of march-2021, how can I claim now ?

As per section 16(4) of the CGST Act, you can claim your Input Tax Credit for a financial year till the due date of GSTR 3B of September of next financial year or date of filing o...

  •  Ramesh Jain
  •  515 Views
  •  Goods and Services Tax (GST)
  •  Unknown

How many years can i file my return u/s 44 ad If i opt 44 ad for the first time ??

There is no limit related to years in Section 44AD of income tax. You can file under the said section untill you get liable for Audit i.e you turnover crosses 1 crore or you want ...

  •  Rad
  •  515 Views
  •  Goods and Services Tax (GST)
  •  Sivagangai


Recent Questions

My gst number was in the state of "cancelled suo moto".I filed all my pending returns upto the date of cancellation.Effective cancellation date is 19.03.2021. in gst portal i can't file revocation of application. What should I do now to get active gst number


If an individual has received a compensation / reward / muafza from the goverment against the compulsory land acquisition to exapnd highway then where should we declare such amount in Income tax while filing the ITR ?


If i file my return u/s 44 ad for the past 3 years, turnover respectively Rs. 1.2 crore , 1 crore , 95 lakhs.Then i file my return in the 4 th year (turnover Rs.93 lakhs) under normal peovisions, with maintaing books of accounts. If am i eligible to file u/s 44 ad in the next year i.e 5 th year, assume that my turnover in the 5 th year is 98 lakhs???


How can be income tax calculated in FY 2021-22 on Provident fund? . Intrest on PF also taxable?


How many years can i file my return u/s 44 ad If i opt 44 ad for the first time ??


I can't understand the tds portion in gst. Could u write a blog ???


I file my income tax return u/s 44ad for the past 2 a.y.This year i should file my return u/s 44ab, because of my gross turnover exceeds Rs. 2 crores.Can i file my return again u/s 44ad in the next A.y, if my income is going to below Rs. 2 crores ??


Date of my invoice is 14/01/2021. Value of invoice was Rs 450050 (including GST). on 5/6/21, my client paid me Rs 12000 additionally for late payment interest. My question is do I need to pay interest on GST portion of this Rs 12000 i.e 12000*12%= 1440 since my bill date was of January month and 3B should have been filed till 20th Feb 2021.


I have filed my ITR on 04-01-2021 and refund was rs 45800, but i have not received it. How can i check status of same and what can be the reason for such delay? Please help


Hello Sir, I am a software engineer. For year ending 31st March 21, my salary was 560000. I took LIC of Rs 14500 and medical premium of Rs 19850 for my family. what is my income tax liability?


What is the last date of filing ITR of year 2019-20?


I have forgot to take input tax credit of Rs.5428 for the month of march-2021, how can I claim now ?





Flexible Accounting Solutions for your business.