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Tuition fee and child education allowance exemption under section 10 and 80C

It is better to plan your income tax liability in advance. If you are in employment you can plan your income for maximum tax benefits. One of the main expenditure that you can claim as a deduction is tuition fee you pay for your children. You can take double benefit for your child's edu... Click to read full article

GST Payer 05/11/2017 under Income-Tax

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Partnership firm registration and guide on partnership firms in India

Registration of a partnership firm is not compulsory. A partnership between 2 or more people is an arrangement where they agree on an object and are bound by agreed terms while performing their duties to achieve a common goal. Partnership can be formed for any purpose. If you want to promote a... Click to read full article

Pulkit Sharma 05/11/2017 under Legal

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Invoice uploaded but GSTR 1 not submitted by the Supplier

Some common software glitches are yet to find a solution by GSTIN 1. GSTR 2 - Invoice uploaded by the Supplier. But the supplier failed to submit GSTR 1 In such cases the receipient should add those invoices , which have been displayed in GSTR 2A  as the supplier already uploaded the i... Click to read full article

Shijoy James 26/10/2017 under GST

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GSTR 3B - Save GSTR 3B error for July 2017 return

GSTR 3B - Save GSTR 3B error for July 2017 return Some dealers are complaining that they are experiencing an error message while clicking the button SAVE GSTR 3B. This issue can be solved by following methods First go the INTEREST AND LATE FEE Tab of GSTR 3B Enter  the values &#3... Click to read full article

Shijoy James 26/10/2017 under GST

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GST Services - Payment Create Challan - Mobile Number is invalid error

GST Services - Payment Create Challan - Mobile Number is invalid error Several dealers are complain that while generating the Chalan, there is an error shows up 'MOBILE NUMBER IS INVALID" To overcome this issue , the dealer have to first go the gst.gov.in. portal . Then go to... Click to read full article

Shijoy James 26/10/2017 under GST

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Late fee on delay in GST return filing

If you missed to file your GST returns on time, you will have to pay late filing fee. Government started charging late filing fee from August 2017 itself. In this post I will share with you a calculator to estimate the late filing fee you have to pay, if you miss to file your GST returns on time... Click to read full article

Pulkit Sharma 22/10/2017 under GST

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Income Tax calculator and slab rates for FY 2017-18 (AY 2018-19)

INCOME TAX CALCULATOR FOR FY 2017-18 (AY 2018-19) INCOME FOR THE YEAR Deductions (LIC, PPF, etc...) NET - TAXABLE INCOME TAX ON TOTAL INCOME ... Click to read full article

Pulkit Sharma 22/10/2017 under Income-Tax

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Billing software for Indian startups

Your startup need a billing solution. Billing is not an overhead but main activity of any business. Having a good billing software helps you efficiently manage your business. Whether to buy a paid or use free billing software? As a startup, your main concern should be to control your costs.... Click to read full article

Pulkit Sharma 17/10/2017 under KYG-Invoicing

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Opinion on not taxing petroleum products under GST

GST – One Nation One Tax – is an initiative by the Government to eliminate various indirect taxes and incorporate all of them into one, thereby reducing the tax complexity. But five products viz petroleum crude, high-speed diesel, motor spirit (commonly known as petrol), natural gas a... Click to read full article

SWATI KHARKIA 10/10/2017 under GST

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Project report format for trading business in excel

If you have started a new business or expending an existing business, you need to prepare project report to get financing from a bank or any other financial institution. It is not always expending the business or starting a business that requires external financing but also working capital req... Click to read full article

Pulkit Sharma 14/10/2017 under General

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Professionals classified listing to search legal and tax experts in India

KnowYourGST.com has become a big website within a short span of time. The site receive around half a million visitors every month and website is highly targeted towards practical solutions on various tax laws. The site was launched to help tax payers comply with GST laws. However over the peri... Click to read full article

Pulkit Sharma 08/10/2017 under General

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A complete guide on VAT in United Arab Emirates (Dubai)

VAT is proposed to be implemented in UAE from January 2018. We in India have vast experience of handling indirect taxes. We had all possible indirect taxes, may it be taxes on services (service tax), taxes on manufacturing (Excise) or taxes on trading (VAT). Latest tax we migrated to is GST (G... Click to read full article

Pulkit Sharma 08/10/2017 under General