Not known Facts About 86 cash
Not known Facts About 86 cash
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After observing the safeguards, it can exempt the applicable taxpayers from pursuing this provision. That's why it really is recommended that genuine taxpayers who're troubled by this new rule ought to carefully draft their representation towards the Section so as to circumvent the restriction of constructing 1% tax payment via cash.
Thus, it signifies that minimum one% from the output tax legal responsibility shall be discharged in cash using e-cash ledger
On top of that, he claimed, the FBI’s “chaotic and slapdash” inventory of her valuables neglected to incorporate $seventy five,000 in gold coins that she has now sued to Get better.
One particular lakh as revenue tax. This sum should have been paid out in Each and every of The 2 previous monetary decades for which the deadline to file return of earnings less than subsection area 139(one) on the stated Act has expired.
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Homes in a very DST can't get replaced with other Homes. Which means that one particular residence can't be marketed making sure that A further can be obtained.
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Their delivers for other currencies also are near its counterparts’, and much better than financial institutions’ Trade fees.
Therefore if in any month, the limit of Rs. 50 lakhs will not be crossed but the turnover is over Rs. 6 crores in the economical calendar year, Rule 86B doesn't have to be complied with.
Ans: The Commissioner or any officer approved by him are given the power to remove the limitations following these kinds of verification and safeguards as he may perhaps deem match. Because of this the real taxpayers who're unintentionally going through the brunt of the rule have a possibility of constructing an software prior to the Division.
Nicely discussed all challenges, Sir, could you you should explain that whether or not if 1% ITC paid in cash for your month of January more info will be viewed as for subsequent months although checking the exception proviso to this Rule?
X-A single is situated just 300m far from the favored tourist attraction Patpong. If you have around in Bangkok by MRT, you may alight at Samyan station and walk about 7 minutes to succeed in X-A single.
c) Scrutiny of returns: Scrutiny of returns is often carried out by the right officer to confirm the correctness of the return as per Portion 61 on the CGST Act 2017. Thereafter, the discrepancies are communicated to the taxpayer for in search of rationalization. Non-payment of necessary one% cash ingredient can catch the attention of the Division’s awareness via this area.
♦ This leisure states that if the individual has compensated a lot more than 1% making use of e-cash ledger for discharging OUTPUT TAX upto the claimed month in existing financial 12 months then this restriction won't implement i.