Q.9 When intending to point out that refund in the preceding economical year need to be more than one lakh, would the limit be calculated for all refunds taken alongside one another?
♦ Since 1% payment by cash is always to be checked in “present-day” FY hence, within the month of April of any economic 12 months [being the 1st thirty day period], this proviso will not be applicable.
Although this rule is notified with the right intention in your mind, the government are unable to help but go over a find team of authentic taxpayers likewise within just its ambit. An illustrative list of this sort of taxpayers has actually been delivered beneath:
COT vacation will be authorized by MPF ahead of the member’s journey through DTS authorization. The member must build/ compete their authorization in DTS prior to departure and be authorised by MPF and also the finance workforce, helpful Aug 2024.
♦ This peace is joined with RECEIPT of refund of ITC on account of zero-rated provides effected with no payment of IGST i.e. effected underneath bond or LuT.
Ans. It mandates cash payment of one% from the output tax liability with a month-to-month basis with the registered individuals who're covered by this rule. This payment of liability in cash would be essential no matter the fact that there is an present equilibrium from the Digital credit score ledger.
♦ However, the moment it can be founded that rule 86B applies, then it should be checked that whether the registered person falls inside the exception given In this particular proviso
Investing in different property entails bigger challenges than common investments and is particularly ideal only for stylish traders. Alternate investments will often be marketed by prospectus that discloses all risks, costs, and charges. They don't seem to be tax efficient and an Trader should check with along with his/her tax advisor prior to investing.
On top of that, he mentioned, the FBI’s “chaotic and slapdash” stock of her valuables neglected to incorporate $75,000 in gold coins that she has now sued to Get well.
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discharged the liability next rule 86(B) through the credit history ledger instead of cash ledger. am i liable for curiosity if paid discharged by way of cash ledger later
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