Vishal Advance tax is a key part of tax compliance for individuals and businesses whose total tax liability exceeds ₹10,000 in a financial year. It allows you to pay your taxes in installments instead of a lump sum during the filing of your income tax returns. If you’re planning to calculate and pay your advance tax …
As a business owner or accountant, managing GST entries accurately is crucial for compliance. In this guide, we will explain how to make GST entries in Tally and ensure your Cash Ledger and ITC Ledger are always synchronized with the GSTIN Cash Ledger and GSTIN ITC Ledger. By following these steps, you can easily reconcile …
Introduction The Goods and Services Tax (GST) has transformed India’s indirect tax system into a unified structure. Among its many features, the Input Tax Credit (ITC) mechanism stands out as a revolutionary tool to prevent the cascading effect of taxes. ITC allows businesses to reduce their tax liability by claiming credit for the GST paid …
Are you aspiring to become a Tax and Accounts expert? Our comprehensive guide outlines the critical topics and skills you need to master to excel in the fields of taxation, accounting, and compliance. Whether you’re just starting or looking to advance your career, this roadmap will ensure you’re on the right path. Essential Topics to …
Gratuity Calculator Last Drawn Salary (₹) Years of Service Calculate Gratuity Gratuity Details Gratuity Calculator: How to Calculate Your Gratuity in Simple Steps Gratuity is a lump sum payment made by an employer to an employee in recognition of their long-term service to the organization. In India, employees who have completed …
Key Highlights of the Notification Extended Deadline: Taxpayers now have an additional 15 days to file their belated returns under Section 139(4) or revised returns under Section 139(5) of the Income-tax Act, 1961. Applicability: The extension applies specifically to resident individuals filing for Assessment Year (AY) 2024-25. Legal Authority: The CBDT exercised its powers under …
EMI Calculator Loan Amount (₹) Interest Rate (%) Loan Tenure (Years) Calculate EMI EMI Details Month Principal Interest EMI Remaining Balance Download Schedule (CSV) VishalHi, I’m Vishal Founder of FinTaxExpert.in, with 7+ years of experience in taxation, audits, and corporate finance. ✍️ I’m passionate about writing and researching in the fields of taxation …
HRA Calculator Basic Salary (₹) HRA Received (₹) Rent Paid (₹) Do you live in a metro city? YesNo Calculate HRA Reset HRA Calculator: How to Calculate Your HRA Exemption HRA Calculator: How to Calculate Your HRA Exemption House Rent Allowance (HRA) is a component of your salary that is provided by employers to help …
Managing GST transactions that span across financial years can be challenging. This article provides a comprehensive guide to addressing such scenarios, with specific focus on sales transactions pertaining to FY 2022-23 but reported or amended in FY 2023-24. We’ll also look at how to correctly report these in GSTR-9 and GSTR-9C, supported by an easy-to-understand …
A credit note under the Goods and Services Tax (GST) framework is an essential document for rectifying discrepancies in the original tax invoice. The 55th GST Council meeting introduced critical amendments to the treatment of credit notes, ensuring enhanced compliance, streamlined processes, and clarity in tax adjustments. This article delves deep into the concept of …