R A R E And ASSOCIATES_Tuticorin

In this case assessee (male/female below 60 years) having salary/business or professional income/income from other sources of Rs 7,85,000/- (including saving bank account interest Rs. 10,000/-) and living in a house/flat acquired with borrowed funds, will be required to pay no tax as under: Net Income from Salary/Business/Profession Other Sources                             Rs. 7,85,000 Income From House Property                   (Fully self occupied)                                                  Nil Less: Interest on funds borrowed                                             Rs. 2,00,000         ...

A much needed clarity given by circular 40/14/2018 GST dated 6th April,2018 to trade and administration. The clarity sought by local tax administration as much as local bodies explained below Form for LUT: Earlier the (exporters) were required to download the FORM GST RFD-11 from the website of the Central Board of Excise and Customs (www.cbec.gov.in) and furnish the duly filled form to the jurisdictional Deputy/Assistant Commissioner. Now, the registered person (exporters) shall fill and submit FORM GST RFD-11 on the common portal and the LUT shall be deemed to be accepted as soon as an acknowledgement for the same, bearing the Application Reference Number (ARN), is generated on-line. Document for LUT: Earlier, self deceleration by the exporter to the effect that he has not been prosecuted should suffice for the purposes of Notification No. 37/2017- Central Tax dated 4th October, 2017.  Now, by this circular it has been clarified that no such document needs to b...