Manasi & Associates

29/05/2024

*CBDT* notifies 57 types of Incomes & Expenses to be reflected in *AIS* of IT Portal:

1. Salary
2. Rent received
3. Dividend
4. Interest from savings bank
5. Interest from deposit.
6. Interest from others.
7. Interest from income tax refund
8. Rent on plant & machinery
9. Winnings from lottery or crossword puzzle u/s 1158B
10. Winnings from horse race u/s 115BB
11. Receipt of accumulated balance of PF from employer u/s 111
12. Interest from infrastructure debt fund u/s 115A(1)(a) (ia)
13. Interest from specified company by a non-resident u/s 115A(1)(a)(aa)
14. Interest on bonds and government securities
15. Income in respect of units of non-resident u/s 115A(1) (a)(ab)
16. Income and long-term capital gain from units by an offshore fund u/s 115AB(1)(b)
17. Income and long-term capital gain from foreign currency bonds or shares of Indian companies u/s 115AC
18. Income of foreign institutional investors from securities u/s 115AD(1) (1)
19. Income of Specified Fund from securities u/s 115AD(1)(1)
20. Insurance commission
21. Receipts from life insurance policy.
22. Withdrawal of deposits under national savings scheme
23. Receipt of commission etc. on sale of lottery tickets
24. Income from investment in securitization trust
25. Income on account of repurchase of units by MF/UTI
26. Interest or dividend or other sums payable to government
27. Income of specified senior citizen
28. Sale of land or building
29. Receipts for transfer of immovable property.
30. Sale of vehicle
31. Sale of securities and units of mutual fund
32. Off market debit transactions
33. Off market credit transactions
34. Business receipts
35. GST turnover
36. GST purchases
37. Business expenses
38. Rent payment
39. Miscellaneous payment
40. Cash deposits
41. Cash withdrawals
42. Cash payments
43. Outward foreign remittance/purchase of foreign currency
44. Receipt of foreign remittance
45. Payment to non-resident sportsmen or sports association u/s 1158BA
46. Foreign travel
47. Purchase of immovable property.
48. Purchase of vehicle
49. Purchase of time deposits
50. Purchase of securities and units of mutual funds
51. Credit/Debit card
52. Balance in account
53. Income distributed by business trust
54. Income distributed by investment fund
55. Donations received
56. Receipt on transfer of Virtual Digital Assets
57. Winning from Online Games u/s 115 BBJ

04/09/2023

http://www.manasiassociates.co.in/gst-documents-e-invoice-qr-code-applicability-from-1st-august2023/

02/05/2023

23/04/2023

09/04/2023

http://www.manasiassociates.co.in/union-budget-2023-updates/

Chartered Accountants in Chandigarh – Consult the chartered accountants at Rakesh Kanwar & Co. for financial advice & guidance in income returns in Chandigarh.

11/08/2022

http://www.manasiassociates.co.in/new-gst-rule-on-residential-property/

Chartered Accountants in Chandigarh – Consult the chartered accountants at Rakesh Kanwar & Co. for financial advice & guidance in income returns in Chandigarh.

16/03/2022

http://www.manasiassociates.co.in/benefits-a-person-can-avail-in-income-tax-if-person-is-paying-housing-loan/

Chartered Accountants in Chandigarh – Consult the chartered accountants at Rakesh Kanwar & Co. for financial advice & guidance in income returns in Chandigarh.

06/03/2022

http://www.manasiassociates.co.in/list-of-relatives-covered-under-section-562-of-income-tax-act1961

Chartered Accountants in Chandigarh – Consult the chartered accountants at Rakesh Kanwar & Co. for financial advice & guidance in income returns in Chandigarh.

03/03/2022

Google Location is Now Compulsory for GST Registration

The Goods & Service Tax (GST) Department has made it compulsory to enter the exact google location of premises while doing new GST Registration or while Adding a New Place of Business at the time of Amendment in GST Registration. A screenshot of the tab that would appear while doing GST Registration is given below for reference.

The Map Data has been taken

Read more at:

Google Location is Now Compulsory for GST Registration

18/12/2021

Don't miss the date

14/06/2021

Issues on New Income tax Portal - listed hereunder: -

1. DSC not getting registered or updated
2. New Incorporated companies or Firms are not able to register themselves on ITD Portal
3. Forget password option not working
4. IT Returns in PDF can't be downloaded
5. IT acknowledgements in PDF can't be downloaded
6. DIN Number not getting auto populated in new ITD website
7. Challan Numbers not getting validated
8. no tab for VSV tab
9. Unable to file TDS Returns
10. Unable to file 15CA/15CB
11. E proceedings tab not workings
12. Grievances registered on ITD website are deleted without addressing
13. Old demands outstanding not reflected
14. Old Grievances registered not reflected
15. Unable to file Income Tax Returns for FY 2021
16. Accounts get locked, if we try to login and not able to login due to non-operatibility of site
17. Unable to raise refund reissue request
18. Unable to view Form 26AS
19. PAN Number is not shown as valid
20. Mismatch in PAN Data is shown when technically there is no mismatch
21.JSON Utility not available
22.while filing Verification in ITR if we select 'Self'in capacity then Name disappeared n Shown in validation errors.
23. UDIN is also not able to update for last month audit and other certification.
24. Rectification of return options not available.
25. Return processed in March 2021 now shows under processing in view details.