Lewis-H | Reputations

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QuickBooks cloud hosting for bookkeeping

How can I use QuickBooks cloud hosting for accounting and bookkeeping? Is it possible to use QuickBooks from a remote location? As for business, I am constantly traveling.

March 12, 2020 2
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QuickBooks enterprise software for taxation

How can I use QuickBooks enterprise software for taxation and accounting? Is it possible or should I have to switch to other software?

March 12, 2020 2
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Professional tax

Professional Tax calculation is based on predetermined slabs and on the basis of the salary or monthly income levels. It is usually around Rs 200 a month, with the maximum payable in a year being Rs 2,500....

March 12, 2020 5
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I Tax rebate on housing Loan

The interest portion of the EMI paid for the year can be claimed as a deduction from your total income up to a maximum of Rs 2 lakh under Section 24. From Assessment Year 2018-19 onwards, the maximum deduction...

March 4, 2020 5
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Income Tax Retated

For generating UDIN, the document type is to be selected as ”GST & Tax audit”. Then the date of the signing of the report is to be mentioned. The relevant section of the Income-tax Act,1961 is...

February 18, 2020 5
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Prusmptive income to regular assessment

In presumptive taxation under Section 44AD, your net income is considered as 8% of your turnover and you will pay tax on that income. If your receipts are in the digital (non-cash) form then only...

February 18, 2020 5
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February 13, 2020 10
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About sec 44 AB

Section 44AB of the Income Tax Act stipulates provisions pertaining to the tax audit under the Income Tax Audit. A tax audit is conducted to ensure that the taxpayer has properly maintained the books...

February 12, 2020 5
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Long term capital gain

Long-term capital gains tax is a tax on profits from the sale of an asset held for more than a year. The long-term capital gains tax rate is 0%, 15% or 20% depending on your taxable income and filing...

February 12, 2020 5
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Can LLP become a partenr in another partnership firm ?

LLP being a partnership firm cannot be a partner of another firm on the logic that the partnership firm does not be a legal person with a distinct and separate identity.

February 12, 2020 5
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Refund of tds

First is to declare it in your IT return form and the income tax department will automatically compute the refund and credit it to your bank account. Second way is to fill form 15G and submit it...

February 12, 2020 5
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What is Gratuity, its Benefits and How to Calculate it?

The gratuity amount depends upon the tenure of service and last drawn salary. It is calculated according to this formula: Last drawn salary (basic salary plus dearness allowance) X number of completed...

February 11, 2020 5
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penalty under GST of stock declared under income tax survey

The penalty will be 10% of tax subject to a minimum of Rs. 10,000. The tax officer will issue an order within three years from the due date for filing of relevant annual return.

February 11, 2020 5
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What is E-invoicing under GST?

E-invoicing is the new system through which business to business (B2B) transactions are authenticated electronically by GSTN for further use on the common GSTN portal. The biggest benefits that e-invoicing delivers...

February 11, 2020 5
Registered
GST

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February 11, 2020 10