July 2018 - SS Financials

Documents and information for filing Income Tax Return

Posted by SSdigitalBE
On July 19, 2018
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Income Tax

It is a good idea to keep all the necessary documentary proof handy while filing your income tax return without which filing your income tax return could be difficult. You need to file income tax return well in time as you may face a penalty of Rs 10,000 if you fail to file income tax […]

Don’t hide your any income while filing ITR

Posted by SSdigitalBE
On July 18, 2018
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Income Tax

Quoting all your income details in ITR is utmost important. Though interest from bank deposits, bonds and most post office schemes is fully taxable, it has been found that almost 80% of taxpayers do not report any interest income. Not declaring this income amounts to tax evasion and could fetch a notice from the tax […]

Utilise the deductions while filing your income tax

Posted by SSdigitalBE
On July 18, 2018
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Income Tax

Correct filing of income tax can help you lot in saving money. In normal terms tax, return filing process often completed mechanically. However, if you spend a little time and more consideration into it can allow you to claim deductions which you might have failed while submitting your investment declarations. Here are some important points […]

Income Tax Rates for Assesssment Year 2019-20

Posted by SSdigitalBE
On July 18, 2018
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Income Tax

You must know the Income Tax Rates as there has been multiple changes in the tax structure. Here is the complete information on the income tax rates for the assessment year 2019-20. Income Senior Citizen age > 60 yrs Tax (%) 0 to 2,50,000 0 to 3,00,000(If age>80 yrs 5,00,000) 0 2,50,001 to 5,00,000 3,00,001 […]

GST in Brief and Accounting Entries

Posted by SSdigitalBE
On July 15, 2018
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GST Accounting Entries

GST in Brief: Particulars Explanation Who Should Register under GST Entities registered under the Pre-GST law (i.e., Excise/ VAT/Service Tax etc.) Businesses with turnover above the threshold limit of Rs. 40 Lakhs In case of inter state trade threshold limit is NIL Those paying tax under the reverse charge mechanism Person who supplies via e-commerce […]