Suthar J T & Co. - Chartered Accountants

Suthar J T & Co. - Chartered Accountants Welcome to Suthar J T & Co.'s official page. We are a Leading Ballari based firm of Charter

Happy CA Day to all CA fraternity..
30/06/2020

Happy CA Day to all CA fraternity..

12/06/2020


The 40th GST Council Meeting was held today that is on the 12th of June 2020 via video conference. The hon’ble FM chaired the Council Meeting at 11 AM. This was the first Council Meeting after the outbreak of COVID-19. Everyone had their eyes on the Council Meeting. On the one hand where taxpayers were expecting certain relaxations from the government. The government was looking out to generate some revenue sources. Here are the key decisions that were taken in the 40th GST Council Meeting:

1.No Late fee on 3B for Nil Tax Liability:

For all those who have no tax liability but have not filed their GSTR-3B from 1st July 2017 to January 2020 there will be no late fee.

2. Late fee capped to Rs 500 on GSTR-3B

Taxpayers with tax liability but have not filed return the late fee on GSTR-3B has been capped to Rs 500.

3.Those who have not filed their GSTR-3B return can file it till September 30.

4. Relief to small taxpayers:

A further relief is given to small taxpayers with turnover up to 5 crores for the late filing of return for the month of Feb to April. They can file their return till July 6th with no interest and then with a reduced rate of 9% till 30th September.

Small taxpayers with turnover up to 5 crores can file returns for May to July till September 2020. No late fee will be charged till September 2020.

10/06/2020

E-way bill generated on or before the 24th day of March, 2020 and whose validity has expired on or after the 20th March, 2020, the validity period of such e-way bill shall be deemed to have been extended till the 30st day of June, 2020 -- Notification no. 47/2020 Central Tax.
GST Update.

Government rolls out facility of NIL GST return through SMS.
08/06/2020

Government rolls out facility of NIL GST return through SMS.

ITR 4 for AY 2020-21 is available for e-filing. (05/06/2020) www.sutharjtca.in
07/06/2020

ITR 4 for AY 2020-21 is available for e-filing. (05/06/2020)

www.sutharjtca.in

ITR 1 for AY 2020-21 is available for e-filing. (02/06/2020) www.sutharjtca.in
02/06/2020

ITR 1 for AY 2020-21 is available for e-filing. (02/06/2020)

www.sutharjtca.in

31/05/2020

*6 Key changes notified in Income Tax Return for the FY 2019-20:-*

1. *House ownership:* Individual taxpayers who are joint owners of house property cannot file ITR 1 or ITR4.

2. *Passport*: One needs to disclose the Passport number if held by the taxpayer. This is to be furnished both in ITR 1-Sahaj and ITR 4-Sugam. Hopefully, it will be made mandatory in other ITR Forms as and when they are notified.

3. *Cash deposit*: For those filing ITR 4-Sugam, it has been made compulsory to declare the amount deposited as cash in a bank account, if such amount exceeds Rs 1 crore during the FY.

4. *Foreign travel*: If you have spent more than Rs 2 lakh on travelling abroad during the FY, you need to disclose the actual amount spent.

5. *Electricity consumption*: If your electricity bills have been more than Rs 1 lakh in aggregate during the FY, you need to disclose the actual amount.

6. *Investment details*: Details of investment qualifying for deduction under chapter VIA with bifurcation of details of investment made during the period from April 1, 2020 to June 30, 2020.

For every assessment year, the last date for filing tax returns is July 31, However, this year ITR filing date has been extended till November 30, 2020 due to pandemic Covid-19.

Thanks Regards

30/05/2020

CBDT UPDATE
IT returns forms 1 to 7 for AY 2020-21(FY 2019-20) notified Today (30/05/2020)

FM launches facility of through Aadhaar based e-KYC.Getting a PAN has never been this easy! All you need, is your Aadh...
29/05/2020

FM launches facility of through Aadhaar based e-KYC.
Getting a PAN has never been this easy! All you need, is your Aadhaar number.
Just visit the e-filing portal of IT Department & follow the steps provided to generate your ePAN, within minutes!

*CBDT UPDATE 28.05.2020📝*CBDT notifies *new Form 26AS* [Annual Information Statement] pursuant to Finance Act, 2020 amen...
28/05/2020

*CBDT UPDATE 28.05.2020📝*

CBDT notifies *new Form 26AS* [Annual Information Statement] pursuant to Finance Act, 2020 amendment, inserts new Rule 114-I to be effective from June 1st and omits Rule 31AB;

*Apart from the TDS / TCS details, revised Form 26AS shall now contain information relating to assessee’s specified financial transaction, payment of taxes, demand/ refund and pending / completed proceedings*.

Welcome decision by Income tax department to extend the new procedure of approval/registration of entities registered u/...
27/05/2020

Welcome decision by Income tax department to extend the new procedure of approval/registration of entities registered u/s 10(23C), 12AA, 35, 80G of IT Act, 1961 to 1st October, 2020.

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Near Papaiah Hall, Glass Bazar
Bellary
583101

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Monday 9am - 6pm
Tuesday 9am - 6:30pm
Wednesday 9:30am - 5pm
Thursday 9:30am - 5pm
Friday 9:30am - 5pm
Saturday 9am - 5pm

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+919173802868

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