K Rajasekhar & Associates

K Rajasekhar & Associates

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10/03/2020

PAN-Aadhaar link status: Beware! You may have to pay this big penalty after March 31
PAN-Aadhaar link status alert! If your PAN Card or Permanent Account Number Card is not linked to your Aadhaar Card, it may lead to a penalty of Rs 10,000.

If your PAN Card or Permanent Account Number Card is not linked to your Aadhaar Card, it may lead to a penalty of Rs 10,000. Failing to do so within the given timeline is likely to result in a penalty. The Income Tax Department has already announced that the Permanent Account Number, if not linked with Aadhaar, will become inoperative

24/01/2020

Press Release
Finance Ministry
22nd January 2020

*Now the GST Taxpayers can file their GSTR-3B Returns in a Staggered Manner*

*IF TURNOVER ABOVE 5 CRORES SAME DATE 20th CONTINUES*

*TURNOVER BELOW 5 CRORES DEALERS IN KARNATAKA FILE 3B on 22nd*

Full copy of press release:

New Delhi: Considering the difficulties faced by trade and industry in filing of returns, the government has decided to introduce several measures to ease the process.
Finance Ministry today said that now GST taxpayers can file their GSTR-3B returns in a staggered manner.
Presently the last date of filing GSTR-3B returns for every taxpayer is 20th of every month. *From now on, the last date for filing of GSTR-3B for the taxpayers having annual turnover of Rs. 5 crore and above in the previous financial year would continue to file the 3B returns on 20th of the month* Thus, around 8 lakh regular taxpayers would have the last date of GSTR-3B filing as 20th of every month without late fees.

The taxpayers having *annual turnover below Rs 5 crore in previous financial year* will be divided further in two categories. The tax filers from 15 States/ UTs, i.e., Chhattisgarh, Madhya Pradesh, Gujarat, Daman and Diu, Dadra and Nagar Haveli, Maharashtra, *Karnataka* Goa, Lakshadweep, Kerala, Tamil Nadu, Puducherry, Andaman and Nicobar Islands, Telangana and Andhra Pradesh will now be having the *last date of filing GSTR-3B returns as 22nd of the month without late fees.*
This category would have around 49 lakh GSTR-3B filers who would now have 22nd of every month as their last date for filing GSTR-3B returns.

For the remaining 46 lakh taxpayers from the 22 States/UTs of Jammu and Kashmir, Laddakh, Himachal Pradesh, Punjab, Chandigarh, Uttarakhand, Haryana, Delhi, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand and Odisha having *annual turnover below Rs 5 crore in previous financial year will now be having last date of filing the GSTR-3B as 24th of the month without late fees.*

Finance Ministry said that the necessary notification in this regard would be issued later by the competent authority.
Ministry further said that it has also taken a note of difficulties and concerns expressed by the taxpayers regarding filing of GSTR-3B and other returns. The matter has been discussed by the GSTN with Infosys, the Managed Service Provider, which has come out with above solution to de-stress the process as a temporary but immediate measure. For further improving the performance of GSTN filing portal on permanent basis, several technological measures are being worked out with Infosys and will be in place by April this year.

CA K Rajasekhar & Associates
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ITR Filing 2019: 5 incomes you must not miss to report in your Income Tax Return for AY 2019-20 17/08/2019

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ITR Filing 2019: 5 incomes you must not miss to report in your Income Tax Return for AY 2019-20 It is advisable to be extra careful while filing income tax return this year as even a small mistake can result in the issue of a notice from the Income Tax Department.

Income Tax Return 2019: Don’t have Form 16 and TDS not deposited yet? Here is how you may still file your ITR 14/08/2019

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Income Tax Return 2019: Don’t have Form 16 and TDS not deposited yet? Here is how you may still file your ITR Without Form 16 and with Form 26AS showing no TDS was deducted and deposited, many employees are in dilemma how to file ITR on time and whether to pay tax again.

Income Tax Return 2019: How will PAN and Aadhaar interchangeability affect your tax filing? 04/08/2019

Income-tax-return-2019-how-will-pan-and-aadhaar-interchangeability-affect-your-tax-filing

Income Tax Return 2019: How will PAN and Aadhaar interchangeability affect your tax filing? In the Union Budget 2019, the Finance Minister had announced the interchangeability of PAN and Aadhaar. Here's how it will affect your tax filing.

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