The Director of a Private Limited Company holds a pivotal role as the top executive responsible for guiding and steering the organization toward success. This influential leader possesses a unique blend of strategic vision, operational expertise, and strong decision-making capabilities.

At the core of their responsibilities lies the task of ensuring effective corporate governance, maintaining compliance with legal and regulatory frameworks, and upholding the highest ethical standards. The Director provides strategic direction and guidance to the management team, fostering a culture of innovation, collaboration, and excellence throughout the company.

Financial acumen is a key strength of the Director, who oversees crucial aspects such as budgeting, financial planning, and risk management. By leveraging their expertise, the Director makes informed decisions to optimize performance, drive profitability, and achieve the company’s financial goals.

Relationship management with stakeholders is another essential aspect of the Director’s role. By building and nurturing strong partnerships with shareholders, investors, customers, suppliers, and regulatory bodies, the Director enhances the company’s reputation, fosters trust, and identifies strategic opportunities for business development.

The Director also recognizes the significance of corporate social responsibility, embracing sustainable practices and contributing to the betterment of the community. They serve as a role model for ethical business practices, championing diversity and inclusion, and guiding the organization towards responsible and impactful initiatives.

In summary, the Director of a Private Limited Company is a visionary leader who combines strategic thinking, financial expertise, stakeholder management, and ethical governance to lead the organization toward sustainable growth, success, and positive societal impact.

Meaning of Director in Private Limited Company

In a Private Limited Company, the Director is the highest-ranking executive responsible for guiding and overseeing the company’s operations, strategy, and overall success. They provide leadership, make key decisions, and ensure compliance with legal and regulatory requirements.

The Director plays a crucial role in setting the company’s strategic direction, defining goals, and making informed decisions that align with the organization’s vision. They are responsible for corporate governance, maintaining transparency, and acting in the best interests of the company and its stakeholders.

Financial management is a significant aspect of the Director’s role, encompassing budgeting, financial planning, and risk management. They monitor financial performance, make strategic financial decisions, and work towards maximizing profitability.

The Director also manages relationships with stakeholders such as shareholders, employees, customers, suppliers, and regulatory bodies. They foster positive interactions, communicate effectively, and represent the company’s interests.

Furthermore, the Director provides leadership and guidance to the management team and employees, promoting a positive work culture, fostering innovation, and driving organizational success.

It is important to note that the specific responsibilities of a Director may vary depending on the company’s size, industry, and corporate structure. The Director’s role is integral to the company’s operations, as they navigate challenges, drive growth, and ensure the company’s long-term prosperity.

Becoming Director in a Private Limited Company

To become a Director in a Private Limited Company, you should start by acquiring relevant qualifications and knowledge in business administration, finance, or the industry relevant to the company. This may involve pursuing a degree or certification program in business management or related fields. Alongside education, gaining practical experience in leadership roles and acquiring a strong understanding of the industry is essential. Build a track record of success by demonstrating your skills and expertise through work experience, projects, or entrepreneurial ventures. Networking within your industry and building professional relationships can also open doors to Director opportunities. Stay updated with industry trends, regulations, and best practices to showcase your knowledge and adaptability. When applying for Director positions, tailor your resume to highlight your qualifications, leadership abilities, strategic thinking, and a results-driven mindset. Continuous professional development and a commitment to learning will further enhance your chances of becoming a Director in a Private Limited Company.

To become a Director in a Private Limited Company, individuals need to obtain a Director Identification Number (DIN). The DIN is a unique identification number assigned to directors and is required for appointment as a director in any company. To obtain a DIN, individuals must apply to the DIN Cell, following the specific procedure outlined by the authorities. More detailed information about the process of obtaining a DIN in India can be found at the IndiaFilings Learning Center.

Types of Directors in Company

In a company, there exist various types of directors, each with distinct roles and responsibilities.

Here are some commonly found types of directors:

1. Executive Director: An Executive Director is a full-time employee who holds a senior management position within the company. They actively participate in the day-to-day operations and decision-making processes of the organization, often overseeing specific departments or functions.
2. Non-Executive Director: A Non-Executive Director is not involved in the daily operations of the company. They provide independent oversight and bring external expertise to the board. Non-Executive Directors contribute to strategic decision-making, corporate governance, and overall accountability.
3. Independent Director: An Independent Director is a non-executive director who is impartial and unbiased, with no affiliation to the company or its stakeholders. They bring an objective perspective, enhance corporate governance practices, and safeguard the interests of shareholders.
4. Managing Director/CEO: The Managing Director (MD) or Chief Executive Officer (CEO) is the top executive responsible for managing the overall operations and strategic direction of the company. They hold significant authority and are accountable for achieving the company’s goals and ensuring its success.
5. Nominee Director: A Nominee Director is appointed by a specific shareholder or investor who holds a substantial stake in the company. They represent the interests of the appointing party and provide their perspective during board discussions and decision-making processes.
6. Chairman/Chairperson: The Chairman or Chairperson of the Board leads the board of Directors, ensuring effective governance and board functioning. They facilitate board meetings, promote collaboration among directors, and act as a link between the board and management.
7. Alternate Director: An Alternate Director is appointed by a director to act on their behalf when they are unable to attend board meetings. They have the authority to make decisions in the absence of the appointing director.

Maximum and Minimum Number of Directors in Private Limited Company

The Companies Act, 2013, specifies the minimum and maximum number of directors for a Private Limited Company. Here are the specific requirements:

1. Minimum Number of Directors: A Private Limited Company must have a minimum of two directors. This means that the company should have at least two individuals appointed as directors.
2. Maximum Number of Directors: A Private Limited Company can have a maximum of fifteen directors. However, if the company intends to appoint more than fifteen directors, it must obtain approval from the shareholders through a special resolution.

Adhering to the prescribed minimum and maximum number of directors is crucial for a Private Limited Company to comply with the regulations outlined in the Companies Act. The directors’ role is vital in the management and decision-making processes of the company, and maintaining an appropriate number of directors ensures effective corporate governance and the smooth operation of the organization.

The minimum number of Director in the Company are as follows:

• Private Limited Company – Minimum two Directors in case of Private Limited Company
• Limited Company – Minimum three Directors in case of Limited Company.
• One Person Company – Minimum one Director in case of One Person Company.

Women Director Requirement in Company

Under the Companies Act, 2013 in India, certain companies are mandated to have at least one woman director on their board. Here are the key details regarding the requirement of a woman director in a company:

1. Applicability: The requirement applies to the following categories of companies: a. Listed companies – Companies whose shares are listed on stock exchanges. b. Public companies – Companies with a paid-up share capital of INR 100 crore or more, or a turnover of INR 300 crore or more.
2. Compliance Deadline: The companies falling under the above categories were given a specific timeline to comply with the requirement. For instance, listed companies were required to have a woman director on their board within one year from the date of applicability.
3. Role and Responsibilities: The woman director holds the same rights, responsibilities, and fiduciary duties as any other director. She actively participates in board meetings, contributes to decision-making processes, and helps ensure effective corporate governance.
4. Eligibility and Qualifications: The woman director should possess the necessary qualifications, experience, and expertise required for the role. The appointment process follows the same procedures as the appointment of any other director, as per the company’s articles of association and corporate governance guidelines.

It’s worth noting that the introduction of a woman director requirement aims to promote gender diversity and inclusivity in corporate leadership. By having women representation on boards, companies can benefit from a wider range of perspectives, skills, and experiences, leading to enhanced decision-making and governance practices.

Please keep in mind that specific regulations and requirements regarding the appointment of a woman director may vary across different jurisdictions. It is advisable to refer to the Companies Act and seek professional advice to ensure compliance with the applicable laws and regulations in your country or region.

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In this blog, I will let you know about the new turnover for making the e-invoice and its applicability.

The GST Department has announced new criteria for e-invoicing from the 1st- of August- 2023. If any GST holder’s turnover is crossed by the prescribed limit in any previous year or current year then he needs to generate an e-invoice and issue that invoice to their customers.

If anyone has not generated the e-invoice according to the guidance of the GST department after that this type of GST holder can’t able to take their ITC.

What is e-invoicing in GST?

E-invoice in GST refers to the standardized format of electronic invoices that businesses generate and report to the government as part of the GST compliance process in India. It is a structured digital format that contains specific fields and data elements required by the GST system.

The e-invoice format in GST is based on the eXtensible Markup Language (XML) format. It includes various details related to the invoice, such as the supplier’s and recipient’s GSTIN (Goods and Services Tax Identification Number), invoice number and date, item details, quantities, values, applicable taxes, and other relevant information.

The purpose of generating e-invoices in the GST format is to facilitate seamless integration between businesses’ invoicing systems and the GST portal. It helps in automating the reporting of invoice data to the government and ensures accuracy and consistency in compliance.

The process of generating e-invoices in GST involves businesses creating the invoice in their accounting or billing software using the prescribed format. The e-invoice is then uploaded to the GST portal or GST Suvidha Provider (GSP) for validation and reporting to the government.

By implementing e-invoicing in GST, the government aims to simplify the tax compliance process, reduce errors, and enhance transparency. It also enables the automatic reconciliation of invoices and helps in curbing tax evasion by ensuring that the invoice details reported to the government match the details provided by the recipient.

Some basic points of e-invoicing***

According to the current month’s status, If your turnover is going to cross the prescribed limit of invoicing in the current financial year then, you are required to prepare the e-invoice for the next financial year.

Example – If you are in 2023-2024 and your A.T.O is 4cr Now after the auditing your turnover is crossed the prescribed limit of GST so you have to start to prepare the e-invoice from the 1st of April 2024.

E-invoice not applicability

The GST department has announced who is not required to prepare the e-invoice under the GST.

1. Special Economic Zone unit (SEZ).
2. Insurer
3. Banking company, finance instructor, Non-banking finance company (NBFC)
4. Goods Transport Agency (GTA)
5. Supplier of passenger transport.
6. Supplier of services by way of admission to the exhibition of cinematograph films in multiflex screen.
7. OIDAR
8. Exempt supplies
9. B2C supplies

Who is required to prepare an e-invoice?

The GST department has announced who is required to prepare the e-invoice under the GST.

1. B2B suppliers
2. Exporters

Thanks,

This is a new annousment from the GST departement. many people have not filed their returns of GST, he has taken registration only for their own use they are not following the compliance of GST.

During the physical verification process, GST officers may visit the business premises to confirm the physical existence of the business and its operations. They may check the business premises for compliance with GST laws and regulations, including the maintenance of proper books of accounts, invoices, and other related documents.

What are the documents to be required at the time of the GST verification?

When the GST officials are visiting your shop, you need to protect yourself first, and after that, you need to show your GST registration details along with your books of account.

List of required documents:

• GST Certificate.
• Books of accounts.
• Sign board with the GST details.
• GST returns (GSTR-1, GSTR-3B and etc)
• Sales and purchase summary.
• Additional place of business.
• PAN and Aadhar checking.

So, you have to prepare all these kinds of stuff very quickly, because many frode peoples are using fraud GST registration for doing their all work.

*****Note Point – The GST officers will visit your shop from 16th May 2023 to 15th July 2023

Thanks,

This is Ravi Kumar, and Today I will let you know about the bank validation feature on the GST portal.

Let’s begin,

First of all, When we have been getting the GST registration then this time, it is a must to add the Bank account in the GST portal after that, the GST government would give you the refunds.

So, now the GST department has announced that please validate your Bank Account which is already has been added by you to the GST portal, and if you are not added the Bank account then please add your account and validate it. Because some of the bank validation is expired due to some reason like Aadhar linking, wrong PAN number, inactive PAN number and etc.

It is a must to validate your bank account details in the GST Portal after that you can get refunds from the GST Department.

How to check the Bank Account validation status?

Here are the steps to know about your account status on the GST portal

• Open your browser and put gst.gov.in

• After that, please click on the login button and enter your ID and Password.

• After login into the GST portal Please click on the view profile button.

• After clicking on it, Please turn down your scroll so you can see the bank account status option on your left-hand side.

• After clicking on the bank account status you can see your account status in the next tab.

Note Point****

There are some errors in the validation of bank details. let me show you.

• If you would see this type of error it means your bank validation will take a few more days for the validation.

• Here are the errors symbols for the bank validation.

• Success – It means your account is successfully registered in the GST portal and verified by the department.
• Failure – That means you have not uploaded the correct PAN details into the GST portal

• Success with remark – That means, you have not given the correct details to the Bank for an account opening.

• Pending for validation – If you are facing this issue then please wait till the validation.

• Special Notes – If you are having some errors for the account validation then please delete your account details from the GST portal and enter the correct details of the bank and then validate your account. I am sure after finishing these steps your account will be validated by the NPCI or GST department.

Thanks,

This is Ravi Kumar, and today I would let you know how to use the Word Counter tool.

Let’s begin,

The Word Counter tool is developed by the WizBrand team. and this tool is very useful to any SEO engineer or any digital marketing professional because our clients do not give any extra time to do any work that’s why we can use this tool and get the result very faster.

What is the Function of the Word Counter tool?

The Word Counter tool is a very demandable tool in the marketplace because it will be giving you the answer in just a second.

There are lots of functions in this tool

1. It will be giving a result in just a second.
2. Easy to use.
3. Developed by the Wizbrand team.
4. This tool is 100% free
5. The site readability tool is fairly easy to use.
6. No Usage Limits
7. You can directly type your text into the box and count words.
8. You can directly enter the Characters and paragraph as well.

What are the features of the Word Counter Tool?

The Word Counter tool has many features for the working

• This tool is 100% free
• You don’t need to waste your time for the characters counting just go to the WizBrand tool section and choose the site readability tool and then paste your paragraph or Characters into the given option.
• This tool will automatically count the table content.
• This tool will give you multiple types of results I.e. Word count, Character count, and Paragraph count.
• This tool is a user-friendly tool.
• It has a smart function this tool is working as a smart Ai tool.

How Wizbrad’s Word Counter tool would help us?

This tool is helping us in a lot of ways If your client has given you an assignment for the work and wants to know about how many words, characters, and paragraphs we have used in this webpage? so you can get the input from the site readability tool and say the result to your client.

How to use Word Counter tool in online?

This is a very simply tool for using and it will give us the result very fast.

• Go to the Wizbrand site.

• Click on the tool section.

• After that, please search the word counter tool name by clicking the CTRL+F.

• After selecting the Word counter tool please put your paragraph or whatever you want to know about the word and characters. If I am putting in some words then he can give me the answer very fast.

Thanks,

This is Ravi Kumar, and today I will let you know How to use the website link analyzer tool

Let’s get started,

This tool is generated by the WizBrand team and with the help of this tool you can analyze your website status because it will give you all the information about your website and also it will give you all the information about the words, characters, H1, H2, Tags, Links, Images, etc.

What is the Function of a website link analyzer tool?

The Wizbrand team has developed a very useful tool i.e “website link analyzer tool”. This is a very useful and the greatest tool for knowing how many words are listed on any website, what is the number of Images, Number of Words on the page, Number of Characters on the page, Number of Internal Links on the page, Number of External Links on the page, Number of Paragraphs on the page, Number of Embedded Video on the page, Number of H1 on the page, Number of H2 on the page, Number of H3 on the page, Number of H4 on the page, Number of H5 on the page, Number of H6 on the page, Title of the page, Number of What found on page, Number of How found on page, Number of Why found on page, Number of When found on page, Number of Where found on page, Number of Words on the page, Number of Characters on the page, Number of Images on the page, Number of Internal Links on the page, and also you can know about the meta tags and the number of blogs.

What are the features of the website link analyzer tool?

There are lots of features in the website link analyzer tool.

1. You can see the list of blogs and whatever you have entered.
2. How many H1, and H2 tags have been used for any website?
3. How many images are embedded on any website
4. What are the numbers of characters on any page?
5. You can analyze the title of the page.
6. The number of Embedded Videos on the page.
7. Number of Paragraphs on the page.
8. List of the internal links on the page.

How Wizbrad’s website link analyzer tool would help?

The website link analyzer tool would help a lot to any person and digital marketer because it has great power to analyze any website’s word characters, images, Internal links, external links, tags and etc.

Any person can try to use this tool to know about their website status because, with one click on the website link analyzer tool, you can see the status of your website.

How to use the website link analyzer tool for analyzing the website online?

You can use this tool in an easy way because it is a very friendly tool for anyone.

• Please open your browser and search Wizbrand.com on your browser and click on the enter button.

• After that please click on the tool icon section.

• Now you can see the list of all tools in this section. So click on the website link analyzer tool and take all the advantages of this tool.

• After that, enter the URL of your website in the given column and then click on the submit button.

The website link analyzer tool is very simple to use.

Thanks,

This is Ravi Kumar, and today I am gonna show you how to create a company page on LinkedIn.

Let’s get Started,

This is a good way to sell your product on the online site, and also this is a part of digital marketing. If you are thinking that how we can promote our products and services in an online way and how to get more customers for buying my product.

So, this is a good way for selling your product in an online way, and due to this, you can get more customers through online ways.

How to create a company page on LinkedIn?

1. Please open your browser and write on it LinkedIn.com.

2. After that click on the signing button and enter your login id and password.

3. After the login, Please look at your right side here you can see a work button then click on it.

4. After that, Please do your scroll down and click on the create a company page button.

5. In this option you have to select your company type.

6. After clicking on that, you need to enter your company’s details, after putting all the details please click on the create page button, and one more thing please tick the check mark button after that click on the create page button.

7. After clicking on the create page button now you will be seeing the Description option and Location so what do you do? you must be entered the company descriptions because of this your company’s page got to touch a good level of the score on LinkedIn.

And after that, you must be entered your contact detail because of this your client can contact you easily and discuss with you about the quality of your products.

And finally please click on the save button, now you have successfully created your company page

Thanks,

This is Ravi Kumar, and today I will let you know about the payment of TDS/TCS in a new way.

Let’s Begin,

If you are thinking to pay the TDS/TCS from the NSDL portal then you can’t do the TDS/TCS payment from the NSDL portal.

How to pay TDS?

Now the Government has changed the platform for the TDS/TCS payment and you can’t pay your TDS/TCS amount from the NSDL portal because in this portal you can see a message that is for the TDS/TCS payment.

The Government has introduced a new way for the payment of TDS/TCS.

• Go to the income tax portal

• Click on the e-Pay Tax option.

• After that, you have to enter your TAN number and your registered mobile number because you will receive an OTP for doing the next process.

• After clicking on the Continue button please enter the OPT this OTP is received in your registered mobile number.

• In this option, you have to select the assessment year for your payment and after selecting the assessment year the pay TDS section will be automatically enabled and visible to you for the proceeding then click on the proceed button.

• Note*** The challan number is automatically selected by the portal for the payment of TDS/TCS so you don’t have to select any challan number just click on the proceed button.

• In the next step, you can see the three options for the payment of your tax and also the minor head for the payment of this challan is auto-selected by the portal.

• In the next option, you have to select the section of your TDS payment.

• After that, select the major head and enter the tax amount in the given column by the government and then, click on the continue button.

• And if you have any interest payment liability then enter the interest amount in the Interest column.

• After completing all these steps now in the next step you have to select the bank payment option and pay your interest by selecting the bank

• After the payment, you can see your payment details and then please click on the continue button.

• After clicking on the continue button you can see the details of your challan and also you can the CRN number of your payment.

Thanks,

This is Ravi Kumar and today I am gonna show you the basic points about the GSTIN holders

Let’s begin,

• GST or goods and Service Tax is an indirect taxation device in India. With the reason of 1 country and One Tax, GST has come to be broadly popular and applicable across our country. but, similar to the two aspects of a coin, GST has both advantages and downsides. it’s essential vital for each entrepreneur to realize approximately the benefits and losses of GST.

• If anyone got the registration under the GST and you have the GSTIN number of Delhi because you are carrying your business from Delhi. You are filling your GST returns and ITR returns on the basis of Delhi’s business activities.

• And now you are thinking that you want to open another office for carrying your business in a different location and you don’t want to change the nature of your business.

• So, it is mandatory to take the registration under the GST and run your business very smoothly and take all the advantages of the government because the government has given many advantages for registration under the GST.

• *****Note point – You can opt for different GSTIN registration with your single PAN card.

Advantages of registration under the GST.

• GST reduces the number of indirect taxes – This means there are many indirect taxes was happened before the coming of GST like VAT, excise duty, service tax, customs duty and etc. but after coming to GST in India he destroyed all the indirect taxes.
• Online GST registration – If you think that you would start a business then you don’t need to waste your time for thinking of registration. You can take your GST registration by online way within a few minutes.
• The number of GST compliances is very less – If you have taken the registration under the GST after that, a few compliances are mandatory to file the GST returns every month.
• Threshold limit – The threshold limit of GST Registration is quite high i.e. Rs. forty lakhs annual turnover or Rs. twenty lakhs annual turnover for special states under GST.
• ITC – You can claim Input Tax Credit easily after filing the GSTR-1.
• Tax evasion – It is easy to detect tax evasion under GST Registration.
• Composition scheme – It offers a composition scheme to pay taxes at a fixed rate and decrease the tax legal responsibility and tax rates.
• GSTIN Value – It provides a single GSTIN that can be used for all the aspects of GST.
• Reduce the cascading effects – After coming to the GST in India, he reduced the tax on tax effects.
• Different Tax Compliances – The GST has different types of compliances for the GSTIN holders if your turnover is up to 1.5 Crores go and opt CUMP scheme, If your turnover is up to Rs. 2.5 crores go and opt QRMP scheme, and if your turnover is more than 5 crores go and opt normal scheme.
• TAX – One nation one tax.

Disadvantages of registration under the GST

• Operational costs – The GST has increased the business costs for supplying goods, products, and services.
• SMS for verification and paying taxes – Many SMEs are still hesitant to do online transactions and pay taxes online.
• Late fee – If you have filed your GST returns after the due date then you have to pay late fees for this.
• Interest – If you have filed your GST compliances after the due date then you need to pay the interest amount for the delay of your filing.
• Invoice – It is mandatory to create an invoice for any supplies.
• e-Invoice – If your turnover is more than 10 crores you need to generate your invoice through the e-invoicing process.
• Difficulty in remote areas – It is still difficult for businesses in remote areas to enroll under GST.
• Compliances of filling in GST – Without filling your GST return you can’t generate your e-way bill

CASE- 2

If you have 2 GSTIN numbers in a single PAN card so how many compliances did you do?

• GST registration – You have to get different GST registration for both working places with a single PAN card.
• GST filling – You need to file the GSTR-1, and GSTR-3B every month, and it has to be mandatory to do your other annual compliances for both GSTINs every year.
• ITR – Only one ITR would be filed for both GSTINs because you have used a single PAN for the GST registration.
• Benefits – You can take all the benefits which are provided by the government under the GST, and you can get your ITC from your clients.
• Place of supply – You can do your supplies according to your GSTIN state without any issues.
• Taxes – Every month paid taxes for both GSTIN.
• Transfer Tax – You can transfer your supply according to your GSTIN.
• Bookkeeping – You would have to do different bookkeeping for your different GSTINs.
• Auditing – You have to generate both the GSTIN audit report according to your GST supplies
• CA fees – It depends on your CA how much fees he would be asked for doing the annual compliances of your both GSTIN.

Thanks,

This is Ravi Kumar, and today I am gonna show you the method of obtaining 2 GSTIN numbers on the same PAN card.

Let’s Begin,

What tells us the section 25(1) of the CGST act?

The Goods and Service Tax (GST) is a vacation spot-primarily based indirect tax levied at the delivery of goods and services. It has changed many indirect taxes including VAT, carrier tax, CST, excise obligation, and so on. to establish GST as a comprehensive indirect tax, the government introduced the CGST Act with impact from 1st July 2017.

As per section 25(1) CGST Act 2017 – When any person undertakes their business activity in more than one state/UT, They are compulsorily required to be obtained separate GSTIN numbers for each unit and all these GSTINs be registered under one PAN only.

Importance of PAN Card

As mandated in the Income Tax Act of 1961, a PAN card is a haven for all individuals, corporations, partnerships, non-profits, and so forth. The IT department makes use of the PAN card to track all monetary transactions which take location inside the country

Getting a PAN card online enables a corporation to get hold of several remittances and invoices and is also useful while submitting IT returns. in case you are without a PAN card, you can not experience the tax benefits and schemes provided by the government and you may be vulnerable to paying taxes at the very best price applicable. if you don’t have one yet, it’s excessive time you observe on a PAN card online.

It’s additionally a count of private choice whether or not GST registrations can be completed with a single PAN card. This happens while a person operates many commercial enterprise verticals within the same state or UT. In this sort of situation, he can opt to have separate GST registrations for every of these verticals, problem to gratifying conditions noted in Sec 25 (2) of the CGST Act.

Thanks,

This is Ravi Verma, and today I will let you know how to know if my Aadhaar card is linked to my PAN card

Let’s get started,

The Indian government has already announced that, If you have not linked your PAN Card to your Aadhar card, so you can’t do any other process related to your PAN card and Aadhar card.

And right now If you are thinking that you have to link your Aadhar with your PAN card then First of all you have to pay 1000 Rs as a penalty due to delay.

• So How can you check If your Aadhar is linked to Your PAN?

Step 1 – Please open your browser and write on it https://www.incometax.gov.in/ and then click on the enter button.

Step 2 – After that click on the link Aadhar Status button, This option is given in your income tax dashboard on the left-hand side corner.

Step 3 – After clicking on it, you can see a new window.

Step 4 – Now you have to enter your PAN number and your Aadhar number and then click on the view Link Aadhar Status button.

Step 5 – If your Aadhar has linked with your PAN card then the portal will give you a message your PAN is already linked with your Aadhar.

Thanks,

This is Ravi Verma, In this Article, I will show you how to download the CSI file from the income tax portal.

Let’s Begin

What is the importance of a CSI file for the TDS return filling?

The CSI file is the most important part of the TDS return filing process because after we have paid our TDS liabilities per month wise then it is important to know what is the payment amount, date, section, payment type, etc. All these things are available in the CSI file, and because of this, the CSI file acts as a date and payment management agent when we file our TDS return.

That’s why the CSI file is the most important part of the TDS return process.

Steps to download the CSI file

• Go to your web browser and open it.

• Search Incometax.gov.in and click on the enter button after that click on the 1st heading option of the income tax page.

• After that, you have to enter your login ID i.e your TAN number and password in the given field.

• After that, go to the e-file option.

• Under the e-file option, you will see the e-pay tax option then click on it.

• After that, click on the payment history option.

• Click on the filter button and select your quarter’s payment date.

• Only select the date nothing select the other option, after doing this step click on the filter button.

• After selecting your payment do scroll down, here you will be given the option to download the challan file, then click on this button.

• After doing these steps your CSI file has been downloaded to your desktop.

Thanks,

This is Ravi Verma, in this Article I will tell you about the new method for filing the GSTR-1 NIL return.

Let’s start,

Why do we have to file the NIL GSTR-1 return?

If a business has no sale or purchase in a month, it must file its NIL GSTR-1 return for this month on the GST portal. but make a note for this, if you want to amend any invoice and if you will issue a credit note and Debit note to your client in that case you need to file your GSTR-1 return on the regular basis. you don’t need to file the NIL return in that case.

How to file my NIL GSTR-1 return in a new way?

a. Open your GSTR portal with your credentials.

B. After logging into your GSTR portal click on the continue to dashboard button.

C. Click on the file return button.

D. Select your GSTR-1 filing quarter, financial year, and the period after that click on the search button.

E. Click GSTR-1 Column.

F. Click the button on the NIL GSTR-1 file.

G. Please read this instruction that is for NIL GSTR-1 filing.

H. Do scroll down you will get a button of file statement then click on it.

I. After completing this process select your filing mode like EVC, DSC, or any which you have for filling. After that, you can file easily your NIL GSTR-1 return by yourself.

Thanks

Hi Guys

This is Ravi Varma In this article I will tell you about the applicability of e-invoicing.

Let’s start

The Government of India is introducing a new invoicing method i.e e-invoicing. In this scheme who person their aggregate turnover is 20 crore that type of person can do their all invoicing processes by using of e-invoicing portal otherwise, their invoice is not a vailed for a tax invoice. by using the e-invoice portal you can send your invoices to your clients.

The Government of India has a plan to introduce a new circular if the turnover of a person is 5 crores or more than 5 crores then that type of company comes under the e-challan facility. Because on January 1, 2023, our government has to present an e-challan circular. For every company whose turnover is more than 5 crores or 5 crores then this type of company would generate its tax invoice using the e-invoicing portal.

And after that, our Indian government has a new plan for e-invoicing usability. All taxpayers who have GST numbers then such persons will generate all their tax invoices with the help of the e-invoicing portal otherwise their invoices will not be valid invoice and their suppliers may not be able to collect their ITC.

NOTE POINT***

Our government has made an e-invoicing scheme and their scheme is for every type of person who has a GST number. He will generate all taxable invoices by e-invoicing method otherwise his supplier may not be able to collect ITC.

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This is Ravi Verma, In This Article, I would tell you about Quarterly ITC.

Let’s start,

That is a very simple way to find Quarterly GSTR-2B in our GST portal. Under this table, we can see our Quarterly ITC monthly wise.

We would know what is the month wise ITC which we can avail. we would know what is our eligible ITC and what is our uneligible ITC with the help of the quarterly GSTR-2B table.

_{The government helps us a lot to know the amount of our ITC.}

Steps to know how to see quarterly GSTR-2B.

• Goto to your browser and enter GST.

• After that put in your User ID, Password, and Captcha code as well, and now click on the login button.

• After that click on the Continue to dashboard button.

• Now Click on the File return Button.

• After that select your period, year, and quarter.

• Do scroll down and click on the GSTR-2B Quarterly table.

• Under this Table, you can see easily your all ITC Amount accordingly month-wise.

• And you can also download the summary in PDF and Excel format.

Thanks

This is Ravi Verma, In this article, I will tell you about the questions under the GST

let’s begin

• What is GST?

GST is called the Goods and Services Tax. it is an oblique tax that has changed many oblique taxes in India which include the excise responsibility, VAT, offerings tax, and so on. the products and carrier Tax Act became handed in the Parliament on 29th March 2017 and came into impact on 1st July 2017.

In different words, items and service Tax (GST) is levied on the supply of products and services. items and offerings Tax law in India is a complete, multi-level, vacation spot-based tax that is levied on every fee addition. GST is a single domestic indirect tax law for the whole USA.

• What are Inter-state supply and Intra-state supply?

In GST, the terms interstate and intrastate have brilliant significance inside the willpower of IGST, CGST, or SGST. Interstate supply draws IGST, while intrastate delivery draws CGST and SGST. In this text, we take a look at the definition of interstate supply and intrastate delivery in keeping with the GST Act.

Interstate Supply?

underneath GST, the supply of products or offerings from one nation to some other would be called interstate supply. The GST Act defines interstate supply as while the place of the supplier and the region of supply for the patron is in:

Two different States; or
Two special Union territories; or
Nation and a Union territory.

similarly to the above, the delivery of products imported into India, until they cross the customs station is likewise categorized as interstate delivery. also, the supply of products or services to or with the aid of a unique financial region developer or a special financial zone unit is classed as interstate delivery.

Intrastate Supply?

beneath GST, the delivery of goods or offerings inside the identical state or Union territory is called an intrastate supply. however, the delivery of goods or offerings to a special monetary sector developer or unique monetary zone unit located in the equal country would now not be intrastate supply. Any delivery of products or offerings to a special financial region developer or special monetary region unit is assessed as interstate delivery.

• What is RCM?

commonly, the dealer of goods or services will pay the tax on supply. below the opposite fee mechanism, the recipient of goods or services turns into liable to pay the tax, i.e., the price ability gets reversed.
The objective of transferring the weight of GST payments to the recipient is to widen the scope of levy of tax on diverse unorganized sectors, to exempt specific classes of providers, and to tax the import of offerings (for the reason that provider is based outdoor India).

• What is input Tax credit?

Input Tax Credit score approach at the time of paying tax on output, you could reduce the tax you’ve got already paid on inputs. Say, you are a Company – tax payable on output (final) is Rs 500 tax paid on entering (PURCHASES) is Rs 250 you can claim to Input Tax credit score of Rs 250 and you handiest want to deposit Rs 250 in taxes.

• What is the due date for filing GSTR-1?

The due date for filing GSTR-1 is the 11th.

• What is the due date for filing GSTR-3B?

The due date for filing state-wise GSTR-3B is 20th and 22nd.

• What is GSTR-2B?

GSTR-2B is a vehicle-drafted ITC statement this is generated for each everyday taxpayer on the basis
of the records supplied with the aid of his suppliers in their respective GSTR-1/IFF, GSTR-five (non-resident
taxable person) and GSTR-6 (input carrier distributor). The assertion suggests the supply and non-availability of input tax credit to the taxpayer towards each file filed through his suppliers.

• How GST is set of?

• When E-Way bill is required to be generated?

E-way bill technology is a digital way invoice required to be generated at the time of the delivery of goods by each registered man or woman if the fee of the consignment exceeds INR 50,000.

It means if the cost of one consignment (invoice/ bill/ delivery challan) exceeds Rupees Fifty Thousand, then an E-way bill is needed to be E-way bill generated.

An e-way bill is needed to be carried by means of a person who’s in the price of the conveyance sporting any consignment of goods for which values exceed as prescribed above

• What is the Time Limit to cancel the E-Way bill?

In case wrong facts are entered while generating an E-Way bill, such an E-Way bill can be canceled within 24 hours of generation. a brand new e-way bill shall be created with accurate information.

• What is the validity of the E-Way Bill?

An e-way bill is valid for intervals as indexed underneath, which is based on the gap traveled with the aid of the goods. Validity is calculated from the date and time of era of the e-manner bill-

• What is the detail required in the E-Way bill?

1. Invoice/ Bill of Supply/ Challan related to the consignment of goods
2. Transport by road – Transporter ID or Vehicle number
3. Transport by rail, air, or ship – Transporter ID, Transport document number, and date on the document

• What is IFF?

An invoice Furnishing Facility (IFF) facility has been provided to taxpayers below QRMP Scheme (Quarterly filers of shape GSTR-1 and also of shape GSTR-3B returns), as in step with sub-rule (2) of Rule-fifty nine of the CGST guidelines, 2017.

• How much interest rate is in GST?

There are two types of rates under the GST (1) 18%- Tax paid after the due date and, (2) is 24%- If we claimed excess ITC then we will pay a 24% GST interest rate.

• How much the late fee is in GST?

the number of overdue expenses to be paid might be Rs.one hundred fifty, The late fee could be Rs.75 below CGST and Rs.75 underneath SGST. If the above return changed into a return with ‘Nil’ tax legal responsibility then late fees would be Rs. 60, The past charge could be Rs.30 under CGST and Rs.30 underneath SGST.

• What are the time limits for claiming ITC?

The time limit for claiming ITC is 180 days.

• GST implication in case of the sale of fixed assets?

The use time of any property is for 5 years after that this property is removed, so if we sell any immovable property then we claim ITC till the age of 5 years, and if he completes 5 years, then we cannot claim his ITC.

This is Ravi Verma, In this article, I will tell you about new changes of GSTR-1

Let’s start,

The government has implemented new changes in GSTR-1.

• When we file our GSTR-1, we see a submit option, this option is used to submit our GSTR-1 report.
  Now the government has removed this option from our GST portal.

Since there are many useless options available in the GST Portal, the government is planning that no additional options appear under the GST Portal.

• As soon as we click on the Generate summary button then we will see the new button that is proceed to the File/Summary button,

After clicking on this button we will see all the columns of GSTR-1 by the GST Portal, under this option we will see the data of all our columns as per the GST table and we can also see the total amount under this column, which will appear the consolidated summary in front of me of my all transactions.

• After clicking the file statement you can file your GSTR-1 return by your DSC and EVC

This is Ravi Verma, In this article, I will tell about the rate of TDS

Let’s start,

The Government of India has imposed different rates of TDS on all the individuals on different incomes so that all the individuals continue to pay tax on their income to the government.

TDS rate chart for FY 2022 – 2023

Thanks,

This is Ravi Verma, in this article I will tell you about the late fee and interest of GSTR-3B.

Lets Start,

As per the GSTR rules, when a company does not file GSTR-3B by its due date, interest and late fees are levied on the company.

• Calculation of Interest.

Under GSTR-3B, we can calculate our interest as follows,

Case 1:- If we pay tax for January month after the due date of February, then we have to calculate interest according to net liabilities.

***Net Liabilities = Gross liability Tax – ITC = Net Liability

Example – If our tax amount for the month of January is Rs 1,00,000 (Tax 120000 – ITC 20000 = Net tax 100000) and our due date is February 22, suppose we pay the tax with a delay of 5 days, then the interest is calculated in the net liability Basic.

Formula:- (Total tax – total ITC)Net Tax *18%*day / year(365) = Interest amt.

Case 2:- If we pay tax for the month of January after the month of February, then we have to calculate the interest as per the gross liabilities.

Example – If our tax amount for the month of January is Rs 1,20,000 (without ITC claim) and our due date is February 22, suppose we pay the tax with a delay of 1 month i.e March, then the interest is calculated in the gross liability Basic.

Formula:- (120000) Gross Tax *18%*day(08+31=39) / year(365) = Interest amt.

Note point *** If you are paying your taxes in the same period, the interest tax rate will be 18% and the tax will be calculated as the basic salary of the net liability.

If you do not pay your taxes in the same period, pay the tax next month then we calculate the gross liability payment tax and the tax rate is 18%.

Case3:- If we claim excess ITC for the payment of tax then the interest rate will increase by 24% p.a.

Formula:- 120000*24%*day / 365 = total interest

Calculation of late?

Date of Filing – Due date of Filing * 25Rs = Total late fees.

In case of NIL liability

Date of Filing – Due date of Filing * 10Rs = Total late fees.

Thanks,

Hi Guy’s

This is Ravi Verma, In this article, I will tell you about adding new UAN holders to the EPFO portal.

Let’s Go,

• Employee’s most important point before registration on EPFO portal of employees.

If we want to add any new employee on the APFO portal of the employer then before that we have to take some details from the employee.

All these details are very important for us at the time of registration.

1. Aadhar card
2. Bank details
3. Pan card details
4. Marital status
5. Mobile number
6. Email ID
7. Date of Joining
8. Monthly wages

In this case, if your employee is a foreigner

1. Passpor Copy is required.

How to generate a new UNA number of employees?

1. Open your browser and seach www.epfindia.gov.in

2. Go to the option of Services and below it, you will see the option of Employer, click on it.

3. And click on the online ECR/challan submission option.

4. Now enter your User ID and Password and click on the Sign-in button.

5. After log-in please go to the member option and under this, you will see the register individual option you will click on this option.

6. In this step your employer portal will have many options like employee name, date of birth of employee, joining date, email id, qualification, nationality etc. You fill all these required columns accordingly.

7. In this option, we have to enter the required KYC details of our employee, only then the portal provides his UAN to the employee, In this we can work with the Aadhar card of the employee.

NOTE:- Inside this, you have to fill the same name which is written in the Aadhar card of the employee.

8. After clicking on save when we will scroll down we will see our employee data which we have just saved

9. After doing all these procedures, we now have to approve the data of our employee, only then it will be visible on our portal, so for that we have to
We have to go back to the member portal and click on Approvals inside it and on that we will get the option of approval.

10. If we go inside Approvals then we will get the option to Approve our Employee, by clicking on that we have to Approve our Employee.

11. If you want to verify your employee’s data, you can verify again by clicking View.

12. After this you will get the approved message

Thanks,

If you want to know how to check UAN number of employees then visit my next blog

This is Ravi Verma, In this article, I will tell you about how to file CMP-08 under the composition scheme,

Let’s start,

• What is composition scheme?

A small number of compliances have been brought under this scheme by removing many compliances, due to low compliance small businesses focus on their business and their business grows.

In this scheme, the turnover of any person is 1.5 Crore can opt for this scheme and in this scheme, the taxpayers have to file only a limited number of returns.

1. GSTR-4
2. CMP-08
3. GSTR-9A

• Filing process of CMP-08

1. Log in to your GST portal with your User ID and Password and also enter the captcha code.

2. Go to the Dashboard and click on the FILE RETURN button.

3. Select your financial year, quarter, and your period, and click on the search option.

4. After clicking on the search button you will see the option of CMP-08 then click on Preparation Online

5. Inside this, you will see 4 columns which you have to fill.

. Outward supplies (including exempt supplies):- In this column, you’ll need to report all your sales types. And according to the nature of your business, you have to calculate the tax on your sales and submit it to the government.

. Inward supplies attracting reverse charge including import of services:- Whatever you have imported in this and if the tax is to be paid through reverse charge mechanism, then you will also have to put it.

. Tax payable (1+2):- Any taxes you paid in columns 1 and 2 will appear in this column.

. Interest payable, if any:-If you have not filed your return on the due date then the penalty will be applicable to you.

6. After doing all these things, please click on the save button.

7. Once you click on the save button you will be able to go to the proceed to file button and then click on it.

8. Click on CREATE challan bottom and enter your tax amount under this challan.

8. After that, tick the notification option and select your authorized signatory, finally click on the FILE GST CMP-08 button.

9. Now you have to file your return with the help of your digital signature / electronic verification code

The late fee of CMP-08 is Rs 200 per day i.e. 100 CGST and 100 SGST. This late fee does not exceed Rs.5000.

in addition to late fees, the taxpayer is also required to pay interest @ 18% per annum in the event of failure to make payment within the prescribed due date. Such interest is to be calculated on the amount of tax payable.

Thanks,

Hi Guy’s

This is Ravi Verma, In This Article, I will tell you about how to File an EPF return.

Let’s Start,

• What is EPF ?

Provident fund (PF Act, 1952) is one of the main savings platforms in India, When an employee works in a company, he is paid a salary by the company and under this, the employer deducts some amount from his salary and deposits it in the Employees Provident Fund, And the percentage by which the employer deducts some amount from his employee’s salary and deposits it in his employee’s provident fund, the same amount is deposited by the employer in his employee’s provident fund on his behalf.

• Mandatory Columns to fill EPF

1. UAN number.
2. Name of employee
3. Grosss wages
4. EPF wages
5. EPS wages
6. EDLI wages
7. EPF contribution(12%)
8. EPS contribution 8.33%
9. Different between EPF and EPS 3.67%
10. NCP (If any employee has taken leave, enter the day in this column)
11. Refund of Advance

Note – Don’t use (,) commas.

• How to create a csv file from excel?

After making your reports in excel

1. Click on the File button.

2. Click on the save as an option.

3. And choose CSV (comma delimited)

4. Select your location and save this data.

5. After saving your file go to your file location and right-click on this file and select the Open with Notepad option.

6. First of all, remove the dot (.) of your data.

7. After removing all dots (.), now change all commas to hashtags (#).

8. Please click on the edit option and under that you will click on replace option.

9. Click the replace all option.

10. Now save your data and turn it off.

• Steps of the online EPF filling process.

Step 01:- Go to your browser and search unifiedportal.gov.in and click the EPFO option.

Step02:- Login to your EPF portal with your credentials.

Step03:- After login to your EPF portal go to and click on the payment option under this option you will see ECR return filing option then click on it.

Step04:- Click on the ECR upload option.

Step05:- Enter return filing date, salary credited date, then after doing all the things select your ECR report, also please select your file type and comments and click on the upload option.

Step06:- After clicking on the Uploaded button scroll down and click on the Verify option.

Step07:- After this, you will receive your TRRN number.

Step08:- Now start creating Challan.

Step09:- Click on Create challan option.

Step10:- This is the calculation sheet of EPF.

Step11:- After verifying all the details please do scroll down and click on generate challan option.

Step12:- Now you have to click on the final button, after clicking on this button your challan has been successfully submitted, after clicking on this you can no longer make any changes in the challan.

Step13:- Now click on the payment option you can easily file your EPF return.

Thanks,

This is Ravi Verma, in this article, I will tell you about the question and answer of GSTR-1

Let’s Start,

• What is GSTR-1?

In GSTR-1 we give a summary of all our sales so that the government can know how much tax we have collected which we have to submit to the government.

• Who is required to file the GSTR-1?

All such taxpayers who have taken registration under GST and they are selling every month, whether of goods or services, in this case, it becomes necessary to file GSTR-1.

• Is GSTR-1 filing mandatory?

Yes, It is necessary for everyone to file GSTR-1, whether they have sales or not, it is necessary to file the return, if no one does this, then the government imposes a penalty.

• What are the available modes of preparing GSTR-1?

GSTR-1 can be prepared using the following modes:
A. Online entry on the GST Portal
B. Uploading of invoice and other GSTR-1 data using Returns Offline Tool
C. Using third party application of Application Software Provider (ASPs) through GST Suvidha Providers (GSPs)

• What details have to be furnished in GSTR-1?

The following details of a tax period have to be furnished in GSTR-1:
. Invoice level details of supplies to registered persons including those having UIN
. Invoice level details of Inter- state supplies of invoice value greater than equal to INR 2,50,000 to unregistered persons (consumers)
. Details of Credit/Debit Notes issued by the supplier against invoices
. Details of export of goods and services including deemed exports (SEZ)
. Summarised state level details of supplies to unregistered persons (consumers)
. Summary Details of Advances received in relation to future supply and their adjustment
. Details of any amendments effected to the reported information for either of the above categories.
. Nil-rated, exempted, and non-GST supplies
. HSN/SAC wise summary of outward supplies

• Which type of registered taxpayers are not required to file the GSTR-1?

The following taxpayers are not required to file GSTR-1:
1. Taxpayers under the Composition Scheme (Return to be filled by them in GSTR 4)
2. on-resident foreign taxpayers (Return to be filled by them in GSTR 5)
3. Online information database and access retrieval service provider (Return to be filled by them in GSTR 5A)
4. Input Service Distributors (ISD) (Return to be filled by them in GSTR-6)
5. Tax Deducted at Source (TDS) deductors (Return to be filled by them in GSTR 7)
6. E-commerce operators deducting TCS (Return to be filled by them in GSTR 8)

•  For which class of Taxpayers is DSC mandatory for filing returns?

DSC is mandatory in the case of all Public & Private Limited Companies, Limited Liability Partnerships (LLPs), and Foreign Limited Liability Partnerships (LLPs).

• What is the due date for filing the GSTR-1?

For normal taxpayers due date to file GSTR-1 for a given tax period is the 11th day of the succeeding month and small taxpayers with turnover up to 1.5 crores are required to file GSTR-1 quarterly, And small taxpayers file all their B2B invoices on the 13th of every month with the help of the IFF.

• What is the meaning of  ‘Total Invoice Value’ in GSTR-1?

The Meaning of Total Invoice Value is Taxable Value + GST = Total Invoice Value.

• Different Between Total Invoice Value and Taxable Value?

Total Invoice Value means = Taxable Value + Tax
and invoice value = only the value of the goods or service which does not include tax.

• Can I enter details of Goods and Services in the same invoice?

Yes, you can enter your goods and services in the same Invoice except under the CUMP scheme because under this scheme company provides the bill of supply, not the tax bill.

•  What are B2B Supplies?

when a registered person is purchased goods/services from another registration person then this type of supply is business to business supply(B2B).

• What is meant by B2C Supplies?

when an unregistered person purchases goods/services from another registration person then this type of supply is called business to customer supply(B2C).

•  What are Debit Notes?

When a registered company sells any goods/services to any other registered company and if the goods/services are not received according to the invoice, then that registered company issues a debit note to the other registered company, and with the help of this, he takes the money into its credit ledger.

• What are Credit Notes?

When a registered company buys goods/services from another registered company and supplies them by mistake at a lower rate, in this case, the other company issues credit to him.

• Whether purchases from unregistered person, which are subject to reverse charge, for which the recipient issues a tax invoice, is required to be reported ?

All the purchases from an unregistered person, which are subject to reverse charge, for which the recipient issues a tax invoice are to be reported in GSTR-2 (and not in GSTR-1).

•  Do I need to upload the invoice details at the time of filing GSTR-1?

Taxpayers can upload invoice details any time during the tax period and not just at the time of filing of GSTR-1.

• What is the meaning of B2C large invoice?

It means the B2C invoice value is More than 2.5lakh then this invoice is to enter in this column.

• All Amendmend record Details?

When we need to amend an invoice in our GSTR-1, we can easily amend it by going to the amendment column.

• What is the due date for the payment of monthly tax liabilities for normal taxpayers?

As a normal taxpayer, the due date for payment of tax is the 20th of every month.

Thanks,

Hi Guys

This is Ravi Verma, in this article I will tell you about how to file NIL GSTR-3B return in an online way.

Let’s start,

• What is GSTR-3B?

Goods and Services Tax was implemented in India on 1st July 2017, after which it becomes very important for individuals whose turnover exceeds 20 lakhs in a financial year, then it becomes very important for them to register in GST.

And if a person takes registration in GST, then from that day all the rules of GST apply to him.

Then that person has to file his GSTR-1 and GSTR-3B every month till his due date and if a person does not do so then interest is charged on him by the GST department

• What do you understand by NIL GSTR-3B Return?

When a company does not have any type of transaction in any month, then it becomes necessary for all the people to file nil GSTR-3B and if any person does not file his NIL GSTR-3B return then the government will charge a penalty on him.

• Steps to file NiL GSTR-3B returns.

1. GO to your browser and search gst.gov.in.

2. Click on the login button.

3. Enter your User ID & Password as well as captcha code, and click on the login button.

4. Now you are entering the GST portal, do scroll down and click on the continue to dashboard option.

5. Click on the file returns option.

6. Now select your Financial year, quarter, and period and click on the search option.

7. Scroll down and click on the GSTR-3B Prepare Online option.

8. As soon as click on you the prepare online option then you will see the option to choose your returns type after this you have to choose the NIL return option and click on the Next button.

9. The last step is to tick the acknowledgment box and select your mode whether you want to file your return with the help of DSC or do you want to file your return through EVC mode, select any mode and successfully file your return Do it.

10. Enter your OTP to file your GSTR-3B NIL return.

11. After entering the OTP you have received a message that your GSTR-3B return file is successful.

Thanks,

Hi Friends

This is Ravi Varma In this article I will tell about section 194j.

Let’s start,

• Definition of Section 194j

According to Income Tax ACT, when we pay professional fees, technical fees, royalty to any person, then we deduct TDS under section 194j and deposit it to the government.

• What are the fees to be covered under section 194j?

1. TDS on professionals fees
2. TDS on technical fees
3. Royaltys
4. Non compet fees
5. Directors fees

• Who is the Payer?

How any person other than individual or HUF is liable to pay TDS (TDS is required to be deducted in case of individual and HUF if the turnover of the year exceeds 1 crore in case of business or gross receipt in case of professional 50 lakhs)

• Who is the Payee?

He must be a resident of India.

• Tax Rates?

Within TDS, all services are divided into different rate categories.

1. Payment made to call center TDS will be charged@:- 2%
2. Fees for technical services TDS will be charged@:- 2%
3. Royalty for Sale,Distribution,Extubation of Films TDS will be charged@:- 2%
4. Fees for professional services TDS will be charged@:- 10%
5. Other case TDS will be charge @10%

• The Government of India has made a limit on every category of TDS, if any payment is made in excess of this limit, then the government charges TDS on it.

1. The professional fee is up to Rs 30000 per annum.
2. The Technical service fee is up to Rs 30000 per annum.
3. The royalty is up to Rs 30000 per annum.
4. The Compete fees is up to Rs 30000 per annum.
5. There is no limit prescribed by the government for the deduction of the director’s fee under TDS.

Note points:-

The extent of TDS depends only on the nature of payment and not the payee.

TDS will not be applicable if an individual / HUF pays professional fees or royalty to someone for their personal work.

Thanks,

This is Ravi Verma,

In this article, I will tell you how to deposit TDS for salary through online mode.

• What is TDS on salary?

When the salary of any person crosses the threshold limit, then the government levies the tax on his salary, which we call TDS.

• Who Is Liable to Deduct TDS On Salary?

The employer is liable to deduct TDS on salary at the time of making the payment to the employee. When the employer pays the salary to his employee and if his salary structure exceeds 2.5 lakhs in 1 year, the employer deducts TDS on his salary and deposits it to the government because if the employer does not do so then the government will impose a penalty. And can also declare that company is a defaulter

• According to Section 192

When there is a relationship between the employer and the employee, the employer pays him the salary and if the salary of any of his employees is more than the threshold limit, then the employer has to deduct TDS from that salary and deposit it in the government portal.

In addition, the following employers are liable to make TDS on salary deduction:-

1. Individuals
2. Companies (Private or Public)
3. HUF (Hindu Undivided Family)
4. Trusts
5. Partnership firms
6. Co-operative societies

How to deposit TDS on salary in the government portal.

The steps to pay TDS through online mode on the government portal are as follows

Step 01:- Go to the TIN NSDL.com website:- https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp and choose e-payment for the TIN option

step 2:- After selecting it you will see an interface like this

Step 3:- So you select Challan NO/ITNS 281 and click to process.

Step 4:- After clicking on it you will directly enter to TDS Monthly Payment Portal.

Step 5:- Under this head,{ (Tax Applicable
(Tax Deducted/Collected At Source From)} you have to see the two options

• (0020) Company Deductees:- That is, if you are deducting the TDS of any company and depositing it, then this option has to be selected.
• (0021) Non-Company Deductees:- That is, if you are deducting the TDS of an individual or non-company and depositing it, then this option has to be selected.

Step 6:- Select Type of Payment.

• (200) TDS/TCS Payable by Taxpayer:- Select this option if you are depositing TDS for the first time

• (400) TDS/TCS Regular Assessment:- And if you want to make any kind of correction in your TDS report then select this option.

Step 7:- Nature of Payment

Select the nature of payment section 192 (TDS on salary)

Step 8:- Mode Of Payment

• Net-Banking:- Select it if you want to make online payment through net banking

•  Debit Card:- And if you want to make payment through offline mode then select it.

step 9:- Tax Deduction Account Number

Enter your company TAN number.

step 10:- Assessment Year

Choose your assessment year i.e. financial year is 2021-2022 then the assessment year will be 2022-2023.

Step 11:- Address

It is mandatory to enter your complete address along with state, district, and pin code.

Step 12:- Captcha Code

You can process this form only after entering the captcha code

Step 13:- Now you will get an option to confirm whatever you have filled while filling out this form.

Do scroll down and click I agree & submit to the bank

Step 14:- Now you have to choose your bank, the way you want to make the payment to the government.

Step 15:-Enter your user ID or password and proceed.

Step 16:- Now your bank’s gateway will open in front of you, in which you will have to enter the amount of tax, if there is any interest and penalty, then you will also have to enter it and after that, you will click on continue.

Last Step:- After this verification click on submit option and you will automatically move to the payment summary option And above you will get the message that your payment is made successful.

Note point*** Under section 206 AA If a payee does not furnish his PAN to the employer, the TDS rate shall be –

1. Rate as per respective section
2. Rate @20%

Whichever is higher

• Due Date for filing TDS returns

Note point**** TDS monthly payment always has to be made before 7th of the next month and if want to pay in offline mode then always before 6th of the next month

How to calculate TDS on salary?

According to the new slab rate

According to the old slab rate.

Example:- Ram’sannual salary is Rs 600000.

• Accourding to old slab rate

1. up to 250000 – NIL
2. Rs 250000 to 500000 – 5% (250000*5/100 = 12500) {(not allow tax rebate u/s 87A)}
3. 500000 to 1000000 – 20%(100000*20/100 = 20000)
4. More then 1000000 – NA

12500 + 20000 = 32500

32500/12 = 2708.333 P.M deposit

• According to new slab rate

1. up to 250000 – NIL
2. Rs 250001 to 500000 – 5% (250000*5/100 = 12500) {(not allow tax rebate u/s 87A)}
3. RS 5,00,001 TO RS 7,50,000 – 10%(100000*10/100 = 10000)

12500 + 10000 = 32500

32500 / 12 = 2708.333 P.M deposit

Thanks,

In view of the slowness of our MCA portal, our government has extended the date of some important forms.

Some compliance due dates of private limited and public limited companies have been extended and due dates of no other firms have been extended.

Thanks,

This is Ravi Verma,

In this article, I will tell you how to claim the correct ITC in GST Portal

As per section 38:- Now the government has changed the rules for claiming ITC.

If any person has to claim his ITC, then he will have to claim his ITCaccording to the government, if any person does not do so, then his registration can be canceled by the government.

As we know that we have to know our ITC in GSTR-2B, in this we get to know how much ITC we should claim while filing our GST return. Now the government has made changes under GSTR-2B, under which we now have to claim the same amount to take our ITC credit, which the government has shown in the column of ITC available.

Change in GSTR-2B

The government has introduced two new columns in GSTR-2B

• ITC Available Column – In this column, taxpayers can avail themselves its ITC without any problems (only available ITC can claim)

• ITC restricted Column – Under this column, you cannot avail your ITC as your vendor defaulter in this column can be counted in the column.

The government has inserted a new section 38, under this section in which the government has covered which taxpayer is a defaulter.

• newly registered taxpayers – If a person takes a new registration in GSTIN, then the government has imposed a restriction for that we cannot take our full ITC from that person.

• Defaulter Supplier (Not Paying GST Amount):- If a supplier does not pay tax in GST, the government has classified such a supplier as a defaulting supplier.

• The GSTR-1 tax amount does not exceed the GSTR-3B tax amount.:- If the tax on GSTR-1 of a supplier is more than the tax amount on GSTR-3B, then the supplier is declared a defaulter.uppler’s

• Claiming ITC in excess of GSTR-2B – If a supplier claims his ITC in excess of the GSTR-2B amount, then such supplier is a defaulter.

• Non-payment of full tax by ITC – If a taxpayer makes full payment of his tax through his credit ledger, then such GST holder will be declared a defaulter, In this, we will pay 99% of our tax in our credit ledger and 1% is to be done by cash.

• The government has already declared such person as a defaulter – A person who has not paid his taxes and does not follow the government rules, such person is declared a defaulter by the government.

Thanks,

Hello this is Ravi Verma

In this article, I will tell you that after how many days of filing TDS we can generate Form 16A from the TRACES portal.

• After how many days we should download Form-16A

When we file our return, after 3 to 4 days we have to generate our Form-16A by login on the TRACES portal.

When we file our return, the department verifies the report so that if there is an error in the report, the department informs us.

• The Due date for generation of Form-16A

You have to generate Form-16A after filing the TDS return within 15 days

• What is the penalty for not issuing Form-16A within the time limit?

if you are not issuing from-16A to your client then you will have to pay 100rs of each day.

An annual general meeting is held only once in a financial year and in this meeting we cover all the new provisions, shares, remuneration, introduction of directors, the introduction of new shareholders, all these things in annual general meeting. And only equity shareholders attend this meeting.

What are the cases covered under this?

1. Director’s report and Auditor’s report:- When the financial year ends in our company, before that we have to organize an annual general meeting of our company in which all the directors submit their director’s report, in which the director tells how hard he worked for the growth of the company. And all the activities of the company which takes place throughout the year are audited with the help of auditors and presented in the Annual General Meeting.
2. Dividend status:- In this Annual General Meeting, the profit-sharing ratio to all the shareholders is also considered.
3. Resignation of a director:- When a director has to take the designation from the company, the company also takes a decision in the Annual General Meeting.
4. Introduction of a new director:- If we have to appoint a new director, we have to appoint at this Annual General Meeting, its appointment is done by voting of all the members at the meeting.
5. Remuneration:- We also discuss in this Annual General Meeting how much remuneration we have to pay to the directors of the company.

We decide all who have to bring new compliances about our company at this Annual General Meeting.