GST Return Due Date for financial year 2023-24 and GST Return Monthly Calendar helps businesses and professionals to keep a track of the GST return filing dates. With the GSTR-3B due dates and GSTR-1 due dates, you can avoid paying any interest or penalty incurred on late filing. Below is the list of GST Return Due Date for FY 2023-24.
Leave Encashment: Tax Exemption Increased to Rs 25 Lakhs
Leave Encashment tax exemption limit is increased to Rs 25 lakhs as per the latest CBDT notification.
The Central Board of Direct Taxes (CBDT) increases the tax exemption limit on leave encashment for non-government employees from Rs 3 lakhs to Rs 25 lakhs. The honourable Finance Minister Ms. Nirmala Sitharaman proposed the increase in tax exemption limit on leave encashment for non-government salaried employees in the Budget Speech 2023. The new tax exemption limit will come into effect from 1st April 2023.
LUT (Letter of Undertaking) for 2023-24
LUT is an essential document that allows exporters of goods and services to export goods and services without the payment of GST.
In this article, we will explore the meaning of LUT, Purpose, Eligibility and procedure to file LUT for 2023-24.
Depreciation As Per Companies Act 2013 – [Updated]
Depreciation as per companies act 2013 measures the wearing out or loss of value of a depreciable asset from use or obsolescence. Depreciation on assets can be claimed as an expense in the Profit and Loss A/c of a business.
Depreciation as per Companies Act, 2013 is applicable for assets purchased on or after 1st April 2014. It only prescribes the useful life of different assets and does not provide any specific depreciation rates.
You can use the depreciation formula and the useful life given in Schedule II of Companies Act, 2013 to calculate the rate of depreciation as per companies act. Besides, we have calculated and given the mca depreciation rates under Depreciation Rates as per companies act 2013 for AY 2023-24.
In this article, we will delve into the intricacies of depreciation as per Companies Act 2013, unraveling its significance and implications.
DPT 3 Due Date, Notification, Last Date 2023 [Updated Now]
DPT 3 Due Date for FY 2022-23 is 30th June 2023. There is no official circular is released regarding DPT3 on the MCA portal. However, as per Companies (Acceptance of Deposits) Rules, 2014 DPT3 is to be filed 30 days from 1st May of that financial year that is 30th June of every financial year.
DPT 3 Due Date
The due date for online filing of form dpt 3 is 30-06-2023.
Below are the details:
- One time Return for disclosure of details of outstanding money or loan received by a company but not considered as deposits in terms of rule 2(1)(c) of the Companies( Acceptance of Deposits) Rules, 2014- due date is Within 30 days from 1st May 2019.
- Return of deposits’ or ‘Particulars of transactions by a company not considered as deposit as per rule 2 (I) (c) of the Companies (Acceptance of Deposit) Rules, 2014’ Or ‘Return of Deposit and Particulars of transactions by a company not considered as a deposit.
LLP Form 11| Due Date, E-Filing
LLP Form 11 is the annual return that a Limited Liability Partnership registered under the LLP Act 2008 must file every year. It is crucial that you keep yourself up to date with the latest compliance requirements to provide top-notch services to your clients and to avoid penalties.
In this article, we will delve into the meaning of Form 11, due date and also how to file the form 11 online. Let’s dive in!
80C Deduction for AY 2023-24: Maximize your Tax Savings!
80C Deduction is available to the Individuals and HUFs. The maximum allowable 80C deduction for FY 2022-23 is 1.5 lakhs. You can avail this deduction by investing in tax saving investments such as ELSS.
We shall discuss in detail the deductions under section 80C in the below article.
Section 80TTA – Claim Tax Deduction on Savings Account Interest
Section 80TTA provides a deduction of Rs 10,000 on interest earned on the Savings account. However, only individuals and HUFs can claim deduction under this section.
So, Senior citizens can claim deduction under section 80TTB, which has a higher deduction limit of Rs 50,000. Furthermore, you cannot claim an 80TTA deduction for interest earned on time deposits such as fixed deposits or recurring deposits.
Link PAN to Aadhar Easily
Link PAN to Aadhar by 30th June 2023 to continue your financial transactions. In other words, you will be able to buy or withdraw money only if you link PAN to Aadhar before the deadline.
Linking PAN with Aadhaar is a simple process. Yet, if you need help, check out How to link aadhaar with PAN card online step by step given below.
How to file Income Tax Return for Salaried Employee?
Learn how to file income tax return for Salaried Employee online. It is easy and you can file your ITR at the comfort of your home. Ensure that you file your return before the Income-tax due date to avoid any penalty.
If you are a salaried individual with an income of less than Rs 50 lakhs, you must use the ITR-1 form to file your income tax return. You can choose to file your ITR either online or offline.