Complete Guide About GSTR-3B Offline Utility with FAQs

1. FAQs on GSTR3B Offline Utility Q1. How can I download and open the GSTR3B Offline Utility in my system from the GST Portal? 1. Login to the GST Portal 2. Go to Downloads >Offline tools >GSTR3B Offline Utility > Download 3. Unzip the downloaded Zip file which contain GSTR3B_Excel_Utility excel sheet 4. Open … Read more

17 Most Asked Questions on Income Tax Provisions for non-residents


FAQs on Provisions useful for non-residents Q.1 Is the residential status of a person relevant for determining the taxability of the income in his hands? Yes, the residential status of a person earning income is very much relevant for determining the taxability of such income in his hands. Taxability of any income in the hands … Read more

FAQs on Interest u/s 234A, 234B & 234C

234a 234b 234c interest-min

FAQs on Interest under section 234A, 234B & 234C Q.1) What are the consequence on failure to pay advance tax? ​​ ​If you fail to pay Advance Tax or pay at a rate less than stipulated rates you will be required to pay Interest under sections 234B & 234C of the Income Tax Act, 1961. … Read more

FAQs on Income from other sources


FAQs on Income from other source Q.1) What is Casual Income? Casual income means any receipts which are of a casual and non-recurring nature. For example, income earned by way of winnings from lotteries, races including horse races, crossword puzzles, etc. Q.2) Under which head pension received from employee provident fund organization under Employee Pension … Read more

17 Most Common Queries on Computation of Income Tax

computation of income tax

Q.1) Under how many heads the income of a taxpayer is classified? S​ection 14​ of the Income-tax Act has classified the income of a taxpayer under five different heads of income, viz.: Salaries Income from house property Profits and gains of business or profession Capital gains Income from other sources​​ Q.2) What is gross total … Read more

14 Most Common Questions on Set Off and Carry Forward of Losses

14 Most Common Questions on Set Off and Carry Forward of Losses

Q.1) If income from any source is exempt, then can loss from such source be adjusted against any other taxable income? If income from a particular source is exempt from tax, then loss from such source cannot be set off against any other income which is chargeable to tax. E.g., Agricultural income is exempt from … Read more

27 Common Questions on Presumptive Taxation Scheme A.Y.2019-20

Q.1) What is the meaning of presumptive taxation scheme? As per sections 44AA of the Income-tax Act, 1961, a person engaged in business is required to maintain regular books of account under certain circumstances. To give relief to small taxpayers from this tedious work, the Income-tax Act has framed the presumptive taxation scheme under sections … Read more

23 Common Questions on Salary Income – Answers with Examples

Q.1) What is considered as salary income? section 17​​ of the Income-tax Act defines the term ‘salary’. However, not going into the technical definition, generally whatever is received by an employee from an employer in cash, kind or as a facility [perquisite] is considered as salary. Q.2) What are allowances? Are all allowances taxable?| What … Read more

25 FAQs on Refund on account of Recipient of Deemed Export – All Solved!

1. What are Deemed Exports? Deemed Exports are those supplies of goods that are notified by the government on the recommendation of the council as ‘Deemed Exports’ where: The goods supplied do not leave India; Payment for such supplies is received in Indian Rupees/ Convertible Foreign Exchange; and Such goods are manufactured in India. Following … Read more

20 Most Common Queries on Electronic Liability Register – Solved!

1. What is an Electronic Liability Register? All return related liabilities accrued are displayed in the Electronic Liability Register: Part I: Return related liabilities. Payments made from the Electronic Cash Ledger and/or credit utilized to discharge the liabilities are also shown in the register. Liabilities pertaining to GST CMP-03, GST ITC-03 and GST REG-16 are … Read more

FAQs for Refund of Excess Amount from the Electronic Cash Ledger

1. How can I claim refund of excess amount available in Electronic Cash ledger? Login to GST portal for filing refund application under refunds section. Navigate to Services > Refunds > Application for Refund option. Select the reason of Refund as ‘Refund on account of excess balance in cash ledger’. File refund application in GST … Read more

How to Track GST Refund Status Online?

How can I track the status of refund on the GST Portal after logging to the GST Portal? 1. To track your submitted refund application, login to the GST Portal. 2. Navigate to Services >Refunds >Track Application Status command. 3. Enter the ARN and click the SEARCH button. The search results are displayed. 1. Can … Read more

18 Most Common Queries for Cancellation of GST Registration – Answered!

1. Under which circumstances can a registered Taxpayer file for cancellation of GST registration? A registered Taxpayer can file for cancellation of GST registration on the occurrence of any of the following events: 1. Discontinuance of business or closure of business. 2. Taxable person ceases to be liable to pay tax. 3. Transfer of business … Read more

41 Latest FAQ on GST Real Estate Sector

F. No. 354/32/2019-TRU Government of India Ministry of Finance Department of Revenue (Tax Research Unit) Dated the 7th May, 2019, New Delhi Subject: FAQs on real estate- reg. A number of issues have been raised regarding the new GST rate structure notified for real estate sector effective from 01-04-2019. A compilation of Frequently Asked Questions … Read more

How to Activate & De-activate GST API Access?

How can I activate or de-activate an API session? 1. Login to the GST Portal with your authorized credentials. 2. Go to My Profile section. 3. From the Quick Links panel, select Manage API Access. 4. Click the Yes radio button. 5. The screen will display the Duration drop-down. 6. Open the drop-down list and … Read more

12 Most Common Queries to Create GST Challan Online

1. How do the new payment systems benefit the taxpayer and the Commercial Tax Department? No more queues and waiting for making payments as payments can be made online 24 X 7 Instant online receipts for payments made online GST Practitioners can make payments on behalf of the clients. Single Challan form to be created … Read more