{"pagination":"<div class=\"pagging text-center\"><nav><ul class=\"pagination\"><li class=\"page-item active\"><span class=\"page-link\">1<span class=\"sr-only\">(current)<\/span><\/span><\/li><li class=\"page-item\"><span class=\"page-link\"><a href=\"https:\/\/www.filingdigits.com\/blog\/loadRecord\/2\" data-ci-pagination-page=\"2\">2<\/a><\/span><\/li><li class=\"page-item\"><span class=\"page-link\"><a href=\"https:\/\/www.filingdigits.com\/blog\/loadRecord\/3\" data-ci-pagination-page=\"3\">3<\/a><\/span><\/li><li class=\"page-item\"><span class=\"page-link\"><a href=\"https:\/\/www.filingdigits.com\/blog\/loadRecord\/2\" data-ci-pagination-page=\"2\" rel=\"next\">&gt;<\/a><span aria-hidden=\"true\"><\/span><\/span><\/li><\/ul><\/nav><\/div>","result":[{"id":"47","homepage_show":"1","blog_name":"Essential ITR Updates for AY 2024-25: What You Need to Know!","blog_url":"essential-itr-updates-for-ay-2024-25--what-you-need-to-know-","category":"7","category_url":"","description":"<p>The Central Board of Direct Taxes has announced significant changes to the Income Tax Return (ITR) forms for the assessment year 2024-25, impacting a broad range of taxpayers.<\/p>\r\n<p>**ITR 1 (Sahaj) Guidelines:** Applicable for resident individuals with income up to ?50 lakh, it covers salary, one house property, other income sources, and agricultural income up to ?5,000.<\/p>\r\n<p>**Bank Account Details Mandatory:** Taxpayers must now disclose all operational bank accounts held in the previous financial year, including account types.<\/p>\r\n<p>**Deductions for Agniveers:** A new provision under Section 80CCH offers deductions for young Agniveers serving in the armed forces under the Agnipath scheme.<\/p>\r\n<p>**ITR 4 (Sugam) Updates:** This form suits individuals, HUFs, and firms (excluding LLPs) with total income up to ?50 lakh, including business and profession earnings.<\/p>\r\n<p>**Additional Changes:** This year, the forms were notified earlier compared to last year. A key update is the inclusion of a \"receipts in cash\" section in the ITR-4 Form, replacing the separate column for cryptocurrency.<\/p>\r\n<p>It's crucial for taxpayers to stay abreast of these changes to ensure accurate and compliant tax filings. For detailed guidance, visit.<\/p>","date":"Dec 25,2023","status":"1","image":"","link":"","posted_by":"Admin","tags":"","created_at":"0000-00-00 00:00:00"},{"id":"46","homepage_show":"1","blog_name":"Removing a Director from Your Company: A Comprehensive Guide","blog_url":"removing-a-director-from-your-company--a-comprehensive-guide","category":"4","category_url":"","description":"<p>Directors play a vital role in a company's day-to-day operations. They represent the shareholders and manage various aspects of the business. However, there are circumstances when the removal of a director becomes necessary. FilingDigits is here to assist you through this process efficiently.<\/p>\r\n<p><strong>Reasons for Director Removal<\/strong><\/p>\r\n<p>Directors can be removed for various reasons, including:<\/p>\r\n<ol>\r\n<li><strong>Disqualifications<\/strong>: Violating the Companies Act can lead to disqualification.<\/li>\r\n<li><strong>Prolonged Absence<\/strong>: Directors absent from board meetings for over 12 months may face removal.<\/li>\r\n<li><strong>Contractual Violations<\/strong>: Engaging in agreements against the Companies Act can be a cause.<\/li>\r\n<li><strong>Disqualification Orders<\/strong>: Court-issued disqualification orders necessitate removal.<\/li>\r\n<li><strong>Criminal Convictions<\/strong>: Directors sentenced to at least six months in prison.<\/li>\r\n<li><strong>Non-compliance<\/strong>: Failure to adhere to the Companies Act provisions.<\/li>\r\n<li><strong>Voluntary Resignation<\/strong>: Directors can also choose to resign voluntarily.<\/li>\r\n<\/ol>\r\n<p><strong>Methods for Director Removal<\/strong><\/p>\r\n<p>Directors can be removed through:<\/p>\r\n<ol>\r\n<li><strong>Resignation<\/strong>: When directors voluntarily resign.<\/li>\r\n<li><strong>Absence<\/strong>: If a director remains absent from board meetings for 12 months.<\/li>\r\n<li><strong>Shareholder-initiated<\/strong>: When shareholders decide to remove a director.<\/li>\r\n<\/ol>\r\n<p><strong>Key Legal Provisions<\/strong><\/p>\r\n<p>Several legal provisions govern director removal:<\/p>\r\n<ol>\r\n<li><strong>Section 169, Companies Act, 2013<\/strong>: Outlines legal procedures and requirements.<\/li>\r\n<li><strong>Section 115, Companies Act, 2013<\/strong>: Relates to appointment of additional directors.<\/li>\r\n<li><strong>Section 163, Companies Act, 2013<\/strong>: Allows proportional representation in director appointment.<\/li>\r\n<li><strong>Rule 23, Companies (Management and Administration) Rules, 2014<\/strong>: Provides guidelines for director removal.<\/li>\r\n<\/ol>\r\n<p><strong>Compulsory Criteria for Director Removal<\/strong><\/p>\r\n<p>Certain requirements must be met for director removal:<\/p>\r\n<ol>\r\n<li><strong>Special Notice<\/strong>: Section 115 requires issuing a Special Notice.<\/li>\r\n<li><strong>14-Day Notice<\/strong>: Directors must receive the Special Notice 14 days before the resolution.<\/li>\r\n<li><strong>Director's Representation<\/strong>: Directors have the right to present their case in writing.<\/li>\r\n<li><strong>No Reappointment<\/strong>: A removed director cannot be reappointed.<\/li>\r\n<\/ol>\r\n<p><strong>Form DIR-12<\/strong><\/p>\r\n<p>Form DIR-12 is crucial for director removal. It's a legal requirement under the Companies Act 2013 and must be submitted when removing a director.<\/p>\r\n<p><strong>Procedure for Director Removal<\/strong><\/p>\r\n<p>Here's a step-by-step guide:<\/p>\r\n<p><strong>1. Resignation by Directors<\/strong><\/p>\r\n<ul>\r\n<li>Hold a Board Meeting with 21 days' notice.<\/li>\r\n<li>Discuss and pass a resolution accepting the resignation.<\/li>\r\n<li>File Form DIR-11 and DIR-12.<\/li>\r\n<li>The director's name will be removed from the Ministry of Corporate Affairs website.<\/li>\r\n<\/ul>\r\n<p><strong>2. Director Absence from Board Meetings for 12 Months<\/strong><\/p>\r\n<ul>\r\n<li>File Form DIR-12 after a director has been absent for 12 months.<\/li>\r\n<li>The director's name will be removed from the Ministry of Corporate Affairs database.<\/li>\r\n<\/ul>\r\n<p><strong>3. Director Removal by Shareholders<\/strong><\/p>\r\n<ul>\r\n<li>Call a Board Meeting and inform directors of the intended removal.<\/li>\r\n<li>Pass a resolution for an Extraordinary General Meeting (EGM).<\/li>\r\n<li>Issue a 21-day notice for the EGM.<\/li>\r\n<li>Members vote on the resolution for removal.<\/li>\r\n<li>Allow the director to present their case.<\/li>\r\n<li>Submit Form DIR-11 and DIR-12.<\/li>\r\n<li>The director's name will be officially removed from the Ministry of Corporate Affairs website.<\/li>\r\n<\/ul>\r\n<p><strong>Consequences of Failing to File Form DIR-12<\/strong><\/p>\r\n<p>Timely submission of Form DIR-12 is crucial. Penalties for delay include government fees and potential compounding offenses.<\/p>\r\n<p><strong>Implications of Director Removal<\/strong><\/p>\r\n<p>Removing a director has significant implications, including the termination of their duties and potential legal consequences. It's essential to handle the process with sensitivity and confidentiality.<\/p>\r\n<p><strong>Conclusion<\/strong><\/p>\r\n<p>Removing a director is a major decision that requires adherence to legal procedures. Whether through an ordinary resolution, board resolution, or court order, fairness, transparency, and alignment with the company's best interests are paramount. FilingDigits can guide you through this process, ensuring compliance and efficiency.<\/p>\r\n<p>For any queries or assistance related to director removal, please <a href=\"https:\/\/www.filingdigits.com\/services\/statutory-filings---compliances\/alteration-in-indian-directors\">click here<\/a> or send your query to <a target=\"_new\">inbox@filingdigits.com<\/a>. You can also connect with us through WhatsApp at +91-74286 88100.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><em>Last updated: 20th Dec 2023<\/em><\/p>","date":"Dec 20,2023","status":"1","image":"","link":"","posted_by":"Admin","tags":"","created_at":"0000-00-00 00:00:00"},{"id":"45","homepage_show":"1","blog_name":"Ordering Your Aadhar PVC Card Through UIDAI Website: A Simple Guide","blog_url":"ordering-your-aadhar-pvc-card-through-uidai-website--a-simple-guide","category":"10","category_url":"","description":"<p>The Aadhar card is a vital document that serves as proof of identity and residence for Indian citizens. With the convenience of technology, you can now obtain your Aadhar card in a PVC format through the official UIDAI website. This blog will guide you through the straightforward process of ordering your Aadhar PVC card online.<\/p>\r\n<p><strong>Step 1: Visit the Official UIDAI Website<\/strong><\/p>\r\n<p>Start by visiting the official website of the Unique Identification Authority of India (UIDAI) at <a href=\"http:\/\/www.uidai.gov.in\/\" target=\"_new\">www.uidai.gov.in<\/a>.<\/p>\r\n<p><strong>Step 2: Click on the \"Order Aadhar PVC Card\" Option<\/strong><\/p>\r\n<p>On the UIDAI website's homepage, you'll find a dedicated option for ordering your Aadhar PVC card. Click on this option to begin the process.<\/p>\r\n<p><strong>Step 3: Enter Your Aadhar Number<\/strong><\/p>\r\n<p>You will be prompted to enter your 12-digit Aadhar number. Ensure that you provide the correct number as it will be used to retrieve your Aadhar details.<\/p>\r\n<p><strong>Step 4: Verify the OTP<\/strong><\/p>\r\n<p>After entering your Aadhar number, a One-Time Password (OTP) will be sent to your registered mobile number. Enter this OTP on the website to verify your identity.<\/p>\r\n<p><strong>Step 5: Preview Your Aadhar Details<\/strong><\/p>\r\n<p>Once your OTP is verified, you will have the opportunity to preview your Aadhar details. Make sure to review this information carefully to confirm its accuracy.<\/p>\r\n<p><strong>Step 6: Make the Payment<\/strong><\/p>\r\n<p>To complete the process, you will be required to make a payment for your Aadhar PVC card. The cost of the PVC card includes printing, packaging, and delivery charges. You can make the payment online through various available methods.<\/p>\r\n<p><strong>Step 7: Receive Confirmation<\/strong><\/p>\r\n<p>After successful payment, you will receive a confirmation message with your SRN (Service Request Number). This number will be used to track the status of your Aadhar PVC card.<\/p>\r\n<p><strong>Step 8: Card Printing and Delivery<\/strong><\/p>\r\n<p>The UIDAI will process your request, print your Aadhar PVC card, and dispatch it to your registered address. You can track the delivery status using the SRN provided.<\/p>\r\n<p><strong>Step 9: Receive Your Aadhar PVC Card<\/strong><\/p>\r\n<p>In a short period, your Aadhar PVC card will be delivered to your doorstep. Ensure that you collect it and keep it safe for future use.<\/p>\r\n<p><strong>Benefits of Aadhar PVC Card<\/strong><\/p>\r\n<p>The Aadhar PVC card is a durable, convenient, and easy-to-carry version of your Aadhar card. It is secure and resistant to wear and tear, making it a reliable form of identification. Plus, it includes a hologram and other security features to prevent fraud.<\/p>\r\n<p><strong>Conclusion<\/strong><\/p>\r\n<p>Ordering your Aadhar PVC card through the UIDAI website is a hassle-free process that ensures you have a durable and secure form of identification at your fingertips. Follow these simple steps to get your Aadhar PVC card today.<\/p>\r\n<p>For any assistance or queries related to your Aadhar card or other government-related services, feel free to reach out to us at inbox@filingdigits.com. We are here to simplify your interactions with government agencies and provide you with the support you need<\/p>","date":"Dec 20,2023","status":"1","image":"","link":"","posted_by":"Admin","tags":"Aadhar,Aadhar PVC Card,Aadhar Printing,UIDAI","created_at":"0000-00-00 00:00:00"},{"id":"44","homepage_show":"1","blog_name":"Relaxation in Late fee for Filing of GST returns (Jul 2017- Apr 2021)","blog_url":"relaxation-in-late-fee-for-filing-of-gst-returns--jul-2017--apr-2021-","category":"5","category_url":"","description":"<h5><em><span style=\"color: #000000;\"><strong><img src=\"https:\/\/www.filingdigits.com\/uploads\/image\/d1d799ff318878563b914dd4c3f4811e.jpg\" alt=\"\" width=\"600\" height=\"424\" \/><\/strong><\/span><\/em><\/h5>\r\n<h5><em><span style=\"color: #000000;\"><strong>GST Scheme to provide relief to taxpayers regarding the late fee for pending returns from Jul 2017 to Apr 2021:<\/strong><\/span><\/em><\/h5>\r\n<p style=\"text-align: justify;\">To provide relief to the taxpayers, late fee for non-furnishing&nbsp;<strong>FORM GSTR-3B<\/strong>&nbsp;for the tax periods from&nbsp;<strong>July 2017 to April 2021<\/strong> has been reduced\/waived as under: &ndash;<\/p>\r\n<ol style=\"text-align: justify;\">\r\n<li>Late fee capped to a maximum of <strong>Rs 500\/- (Rs. 250\/- each for CGST &amp; SGST) per return<\/strong>&nbsp;for taxpayers, who did not have any tax liability for the said tax periods;<\/li>\r\n<li>Late fee capped to a maximum of <strong>Rs 1000\/- (Rs. 500\/- each for CGST &amp; SGST) per return<\/strong>&nbsp;for other taxpayers;<\/li>\r\n<\/ol>\r\n<p style=\"text-align: justify;\">The reduced rate of late fee would apply if GSTR-3B returns for these tax periods are furnished between&nbsp;<em>01.06.2021 to 31.08.2021.<\/em><\/p>\r\n<p style=\"text-align: justify;\">&nbsp;<\/p>\r\n<p><strong><u>Easing of the late fee imposed under CGST Act:<\/u><\/strong><\/p>\r\n<p>To reduce the burden of late fee on smaller taxpayers, the upper cap of late fee is being rationalized to align late fee with tax liability\/ turnover of the taxpayers, as follows:<\/p>\r\n<ol>\r\n<li>&nbsp;The late fee for delay in furnishing of <strong>FORM GSTR-3B&nbsp;<\/strong>and&nbsp;<strong>FORM GSTR-1&nbsp;<\/strong>to be capped,&nbsp;<strong>per return<\/strong>, as below:<\/li>\r\n<\/ol>\r\n<p style=\"padding-left: 40px;\">(i)&nbsp;&nbsp;&nbsp;<strong>For taxpayers having nil tax liability<\/strong>&nbsp;in&nbsp;<strong>GSTR-3B<\/strong>&nbsp;or nil outward supplies in&nbsp;<strong>GSTR-1<\/strong>, the late fee to be capped at Rs 500 (Rs 250 CGST + Rs 250 SGST)<\/p>\r\n<p style=\"padding-left: 40px;\">(ii)&nbsp;&nbsp;<strong>For other taxpayers<\/strong>:<\/p>\r\n<p style=\"padding-left: 40px;\">a. For taxpayers having Aggregate Turnover in preceding year upto Rs 1.5 crore, late fee to be capped to a maximum of Rs 2000 (Rs 1000 each for CGST &amp; SGST);<\/p>\r\n<p style=\"padding-left: 40px;\">b. For taxpayers having Aggregate Turnover in the preceding year between Rs 1.5 crore to Rs 5 crore, late fee to be capped to a maximum of Rs 5000 (Rs 2500 each for CGST &amp; SGST);<\/p>\r\n<p style=\"padding-left: 40px;\">c. For taxpayers having Aggregate Turnover in the preceding year above Rs 5 crores, late fee to be capped to a maximum of Rs 10000 (Rs 5000 each for CGST &amp; SGST).<\/p>\r\n<p style=\"text-align: justify;\">2. The late fee for delay in furnishing of <strong>FORM GSTR-4&nbsp;<\/strong>by composition taxpayers to be capped to Rs 500 (Rs 250 CGST + Rs 250 SGST) per return, if tax liability is nil in the return, and Rs 2000 (Rs 1000 CGST + Rs 1000 SGST) per return for others.<\/p>\r\n<p style=\"text-align: justify;\">3. Late fee payable for delayed furnishing of <strong>FORM GSTR-7&nbsp;<\/strong>to be reduced to Rs.50\/- per day (Rs. 25 CGST + Rs 25 SGST) and to be capped to a maximum of Rs 2000\/- (Rs. 1,000 CGST + Rs 1,000 SGST) per return.<\/p>\r\n<p><em>Above proposals to be made applicable for <strong>prospective<\/strong>&nbsp;tax periods.<\/em><\/p>","date":"May 31,2021","status":"1","image":"","link":"","posted_by":"Admin","tags":"GST,GST Late Fees,GSTR,GST Returns,GST Filing, GSTR 3B,GSTR 1","created_at":"0000-00-00 00:00:00"},{"id":"43","homepage_show":"1","blog_name":"Insurance and Their Tax Benefits","blog_url":"insurance-and-their-tax-benefits","category":"7","category_url":"","description":"<h5>Tax Benefits On Payment of Life, Health Insurance Policy, AND Expenses on Medical Treatment<\/h5>\r\n<p style=\"text-align: justify;\">Payment of premium on life, health insurance policy not only gives insurance cover to a taxpayer but also offers certain tax benefits. Let us clear about deductions available to a taxpayer on account of payment of life &amp; health insurance premiums and expenses on medical treatment.<\/p>\r\n<p style=\"text-align: justify;\">Total income from all the heads of income is called &ldquo;Gross Total Income&rdquo; (GTI). To arrive at taxable income, one has to deduct from GTI, the deductions allowable under section 80C to 80U. In other words, we can say that Taxable Income = Gross Total Income less Deductions under section 80C to 80U.<\/p>\r\n<p style=\"text-align: justify;\">Following general rules should be kept in mind before claiming these deductions under section 80C to 80U:<\/p>\r\n<ul style=\"text-align: justify;\">\r\n<li>No deduction under section 80C to 80U shall be allowed from the income like Capital Gains, Winnings, Some special section (Sec 115).<\/li>\r\n<li>The aggregate amount of deduction under section 80C to 80U cannot exceed Gross Total Income excluding incomes as above.<\/li>\r\n<\/ul>\r\n<p style=\"text-align: justify;\"><span style=\"color: #99cc00;\"><strong>Deduction in respect of Insurance Premium (Sec 80C)<\/strong><\/span><\/p>\r\n<p style=\"text-align: justify;\">Section 80C provides deduction in respect of various items like insurance premium, PPF, NSC, principal component of home loan, Time Deposit Scheme, NPS, etc. Let us focus on the provisions of section 80C relating to deduction on account of payment of life insurance premium.<\/p>\r\n<p style=\"text-align: justify;\">Apart from several other items provided under section 80C, a taxpayer, being an individual or a HUF, can claim deduction under section 80C in respect of premium on life insurance policy paid by him\/it during the year.<\/p>\r\n<p style=\"text-align: justify;\"><strong>Policy Ownership &amp; Deduction Amount?<\/strong><\/p>\r\n<p style=\"text-align: justify;\">An individual can claim deduction in respect of policy taken in the name of taxpayer or his\/her spouse or his\/her children. In case of a HUF, deduction is available in respect of policy taken in the name of any of the members of the HUF.<\/p>\r\n<p style=\"text-align: justify;\">Deduction will not be available in respect of premium paid in respect of policy taken in the name of any person, other than given above.<\/p>\r\n<p style=\"text-align: justify;\">Total deduction amount u\/s 80C allowed is up to Rs. 1,50,000.<\/p>\r\n<p style=\"text-align: justify;\"><strong>Restriction on amount of deduction &amp; Holding Period:<\/strong><\/p>\r\n<p style=\"text-align: justify;\">Deduction for insurance is restricted to 10% in case of policies issued on or after 1-4-2012. In case of policy taken on or after 1-4-2013 in the name of any person suffering from a disability or severe disability referred to in section 80U or suffering from disease or ailment as given in section 80DDB, the limit will be 15% of capital sum assured.<\/p>\r\n<p style=\"text-align: justify;\">In case of UTI ULIP, LIC, the minimum holding period is 5 years while in case of Life Insurance, it is 2 years. If the related policy is terminated before the period mentioned then deduction allowed earlier will be converted in the income of the current year.<\/p>\r\n<p style=\"text-align: justify;\"><span style=\"color: #99cc00;\"><strong>Deduction in respect of medical insurance premium (Sec. 80D)<\/strong><\/span><\/p>\r\n<p style=\"text-align: justify;\">As per section 80D, an individual or a HUF can claim a deduction in respect of the following payments:<\/p>\r\n<ul style=\"text-align: justify;\">\r\n<li>The medical insurance premium paid by assessee, being individual\/HUF by any mode other than cash.<\/li>\r\n<li>Any contribution made by assessee, being individual to Central Government Health Scheme (CGHS) or such other Scheme as may be notified by the Central Government.<\/li>\r\n<li>A sum paid by assessee, being individual on account of preventive health check-up.<\/li>\r\n<li>Medical expenditure incurred by assessee, being individual\/HUF on the health of a senior citizen person provided that no amount has been paid to effect or to keep in force an insurance on the health of such person.<\/li>\r\n<\/ul>\r\n<p style=\"text-align: justify;\"><strong>Ownership of Policy &amp; Allowable Amount?<\/strong><\/p>\r\n<p style=\"text-align: justify;\">For individual, deduction is available in respect of medical insurance policy taken in his own name, or in the name his\/her spouse, his\/her parents and his\/her dependent children. In case of HUF, the policy can be taken on the health of any member of such HUF.<\/p>\r\n<p style=\"text-align: justify;\">Deduction on account of <em>medical expenditure<\/em> shall be allowed only when it is incurred on the health of the aforementioned persons who are <em>senior citizens<\/em>.<\/p>\r\n<p style=\"text-align: justify;\">In case of an <em>individual<\/em>, amount of deduction cannot exceed:<\/p>\r\n<ul style=\"text-align: justify;\">\r\n<li>Rs. 25,000, in aggregate, in respect of medical insurance premium or any payment made for preventive health check-up if payment is made for benefit of assessee, himself or his\/her spouse or dependent children.<\/li>\r\n<li>Rs. 25,000, in aggregate, in respect of medical insurance premium or any payment made for preventive health check-up paid for benefit of <strong>parents<\/strong> of assessee.<\/li>\r\n<li>Rs 50,000 in aggregate in respect of <strong>medical expenditure<\/strong> incurred on the health of assessee, himself, his\/her spouse or dependent children or parents. (This deduction is available if amount is paid for benefit of a senior citizen and no amount has been paid to effect or to keep in force insurance on the health of such person.)<\/li>\r\n<li>Rs. 50,000 in aggregate in respect of medical expenditure incurred on the health of any parent of assessee.<\/li>\r\n<li>Amount of preventive health check-ups of assessee, his family and parents could not exceed Rs. 5,000.<\/li>\r\n<\/ul>\r\n<p style=\"text-align: justify;\"><strong>In case of HUF<\/strong><\/p>\r\n<ul style=\"text-align: justify;\">\r\n<li>In case of a HUF, amount of deduction cannot exceed Rs. 25,000, in aggregate, in respect of premium paid by it on health of any member of such HUF.<\/li>\r\n<li>The aforesaid limit of Rs. 25,000 will be increased to Rs. 50,000 in case of:<\/li>\r\n<\/ul>\r\n<p style=\"text-align: justify;\">When the premium is paid in respect of any senior citizen.<\/p>\r\n<p style=\"text-align: justify;\">When medical expenditure is incurred on the health of a senior citizen person if no amount is paid in respect of health insurance of such person<\/p>\r\n<p style=\"text-align: justify;\"><strong>Mode of Payments<\/strong><\/p>\r\n<p style=\"text-align: justify;\">Payment should be made by any mode other than cash (however, payment on account of preventive health check-up can be made in cash).<\/p>\r\n<p style=\"text-align: justify;\">&nbsp;<\/p>\r\n<p style=\"text-align: justify;\"><span style=\"color: #99cc00;\"><strong>Deduction in respect of expenditure on training\/medical treatment of a dependent, being a person with disability (Section 80DD)<\/strong><\/span><\/p>\r\n<p style=\"text-align: justify;\">A resident individual\/HUF, incurring expenditure on maintenance of relative dependent, being a person with a disability, can claim deduction under section 80DD. Deduction is available in respect of any of the following:<\/p>\r\n<ul style=\"text-align: justify;\">\r\n<li>Expenditure incurred on medical treatment (including nursing), training, rehabilitation of a dependent person with a disability.<\/li>\r\n<li>Amount paid or deposited under a scheme of LIC or any other insurer or UTI or specified company duly approved by the Board, for maintenance of dependent person with disability.<\/li>\r\n<\/ul>\r\n<p style=\"text-align: justify;\"><strong>Dependent person means:<\/strong><\/p>\r\n<ul style=\"text-align: justify;\">\r\n<li>In case of an individual, it will include spouse, children, parents, brothers and sisters of the individual, or any of them who is mainly or wholly dependent on such individual; and<\/li>\r\n<li>In case of a HUF, it will include any member of the HUF, who is mainly or wholly dependent on such HUF.<\/li>\r\n<\/ul>\r\n<p style=\"text-align: justify;\">Provided that such dependent person has not claim any deduction under section 80U.<\/p>\r\n<p style=\"text-align: justify;\"><strong>Amount of deduction<\/strong><\/p>\r\n<p style=\"text-align: justify;\">If the taxpayer incurs any expenditure as mentioned for disability, then a flat deduction of Rs. 75,000 is available, irrespective of the amount of such expenditure. However, if the dependent person is suffering from severe disability (i.e., disability of 80% or above), then the amount of deduction will be Rs. 1,25,000.<\/p>\r\n<p style=\"text-align: justify;\"><span style=\"color: #99cc00;\"><strong>Deduction in respect of expenditure on medical treatment of specified diseases (Section 80DDB)<\/strong><\/span><\/p>\r\n<p style=\"text-align: justify;\">As per section 80DDB, a taxpayer can claim deduction in respect of expenditure incurred by him on medical treatment of specified diseases. The provisions in this regard are as follows:<\/p>\r\n<ul style=\"text-align: justify;\">\r\n<li>Deduction under section 80DDB can be claimed by an individual or a HUF, who is resident in India. Deduction is available in respect of amount actually paid by the taxpayer on medical treatment of a specified disease or ailment.<\/li>\r\n<li>In case of an individual, the aforesaid expenditure should be incurred on medical treatment of an individual or wholly\/mainly dependent spouse, children, parents, brothers and sisters of the individual;<\/li>\r\n<li>In case of a HUF, expenditure should be incurred on the medical treatment of any member of the family, who is wholly\/mainly dependent on such HUF.<\/li>\r\n<\/ul>\r\n<p style=\"text-align: justify;\"><strong>Amount of deduction in Sec. 80DDB<\/strong><\/p>\r\n<p style=\"text-align: justify;\">Amount of deduction will be lower of the following:<\/p>\r\n<p style=\"text-align: justify;\">Amount actually paid on medical treatment specified above; or Rs. 40,000.<\/p>\r\n<p style=\"text-align: justify;\">However, the limit of Rs. 40,000 will be increased to Rs. 1,00,000, if the expenditure is incurred on medical treatment of a senior citizen.<\/p>\r\n<p style=\"text-align: justify;\">&nbsp;<\/p>","date":"May 31,2021","status":"1","image":"","link":"","posted_by":"Admin","tags":"Tax Saving,Income Tax,Deductions,Insurance","created_at":"0000-00-00 00:00:00"},{"id":"42","homepage_show":"1","blog_name":"Company Incorporation Guide \/ Form Spice+ \/ Selection of the Class of Company ","blog_url":"company-incorporation-guide---form-spice----selection-of-the-class-of-company-","category":"4","category_url":"","description":"<p>While Incorporation of the company, we have to choose Class of the company<\/p>\r\n<p>in S No 1(a) of Spice+ Form. Here we have provided available classes of the company which can help you to apply company registration:&nbsp;&nbsp;<\/p>\r\n<table style=\"border-collapse: collapse; width: 98.7731%; height: 967px;\" border=\"1\">\r\n<tbody>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 6.56716%; text-align: center; height: 10px;\">\r\n<p><strong>S No<\/strong><\/p>\r\n<\/td>\r\n<td style=\"width: 14.1748%; text-align: center; height: 10px;\"><strong>Type of Company<\/strong><\/td>\r\n<td style=\"width: 17.0666%; text-align: center; height: 10px;\"><strong>Class<\/strong><\/td>\r\n<td style=\"width: 22.6352%; text-align: center; height: 10px;\"><strong>Category<\/strong><\/td>\r\n<td style=\"width: 39.5562%; text-align: center; height: 10px;\"><strong>Sub-Category<\/strong><\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 6.56716%; text-align: center; height: 17px;\">1<\/td>\r\n<td style=\"width: 14.1748%; height: 17px;\">Producer Company<\/td>\r\n<td style=\"width: 17.0666%; height: 17px;\">Shall be pre-filled as Private<\/td>\r\n<td style=\"width: 22.6352%; height: 17px;\">Pre-filled as Company limited by Shares&nbsp;<\/td>\r\n<td style=\"width: 39.5562%; height: 17px;\">Select any sub-category other than &lsquo;Guarantee and Association company&rsquo;.<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 6.56716%; text-align: center; height: 17px;\">2<\/td>\r\n<td style=\"width: 14.1748%; height: 17px;\">Unlimited Company<\/td>\r\n<td style=\"width: 17.0666%; height: 17px;\">May select either Private or Public<\/td>\r\n<td style=\"width: 22.6352%; height: 17px;\">Pre-filled as Unlimited Company<\/td>\r\n<td style=\"width: 39.5562%; height: 17px;\">Select any sub-category other than &lsquo;Guarantee and Association company&rsquo;.<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 6.56716%; text-align: center; height: 17px;\">3<\/td>\r\n<td style=\"width: 14.1748%; height: 17px;\">Private&nbsp; (OPC)<\/td>\r\n<td style=\"width: 17.0666%; height: 17px;\">Shall be Pre-filled as One Person Company<\/td>\r\n<td style=\"width: 22.6352%; height: 17px;\">Pre-filled as Company limited by Shares&nbsp;<\/td>\r\n<td style=\"width: 39.5562%; height: 17px;\">Pre-filled as Non-Govt. Company<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 6.56716%; text-align: center; height: 17px;\">4<\/td>\r\n<td style=\"width: 14.1748%; height: 17px;\">IFSC Company<\/td>\r\n<td style=\"width: 17.0666%; height: 17px;\">May select either Private or Public<\/td>\r\n<td style=\"width: 22.6352%; height: 17px;\">Pre-filled as Company limited by Shares&nbsp;<\/td>\r\n<td style=\"width: 39.5562%; height: 17px;\">Select any sub-category other than &lsquo;Guarantee and Association company&rsquo;.<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 6.56716%; text-align: center; height: 17px;\">5<\/td>\r\n<td style=\"width: 14.1748%; height: 17px;\">Section 8 Company<\/td>\r\n<td style=\"width: 17.0666%; height: 17px;\">May select either Private or Public<\/td>\r\n<td style=\"width: 22.6352%; height: 17px;\">Select either Company<br \/>limited by shares or<br \/>Company limited by<br \/>guarantee<\/td>\r\n<td style=\"width: 39.5562%; height: 17px;\">Select any sub-category. However, Guarantee and association company option can be selected only if 'Company limited by guarantee' selected in field 1(c).<\/td>\r\n<\/tr>\r\n<tr style=\"height: 70px;\">\r\n<td style=\"width: 6.56716%; text-align: center; height: 70px;\">6<\/td>\r\n<td style=\"width: 14.1748%; height: 70px;\">Nidhi Company<\/td>\r\n<td style=\"width: 17.0666%; height: 70px;\">Shall be pre-filled as Public<\/td>\r\n<td style=\"width: 22.6352%; height: 70px;\">Select either Company<br \/>limited by shares or<br \/>Company limited by<br \/>guarantee<\/td>\r\n<td style=\"width: 39.5562%; height: 70px;\">Select any sub-category. However, Guarantee and association company option can be selected only if 'Company limited by guarantee' selected in field 1(c).<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 6.56716%; text-align: center; height: 17px;\">7<\/td>\r\n<td style=\"width: 14.1748%; height: 17px;\">New Company (Others)<\/td>\r\n<td style=\"width: 17.0666%; height: 17px;\">May select either Private or Public<\/td>\r\n<td style=\"width: 22.6352%; height: 17px;\">Select either Company<br \/>limited by shares or<br \/>Company limited by<br \/>guarantee<\/td>\r\n<td style=\"width: 39.5562%; height: 17px;\">Select any sub-category.However, Guarantee and association company option can be selected only if 'Company limited by guarantee' selected in field 1(c).<\/td>\r\n<\/tr>\r\n<tr style=\"height: 66px;\">\r\n<td style=\"width: 6.56716%; text-align: center; height: 66px;\">8<\/td>\r\n<td style=\"width: 14.1748%; height: 66px;\">Part l Section 8 Company<\/td>\r\n<td style=\"width: 17.0666%; height: 66px;\">May select either Private or Public<\/td>\r\n<td style=\"width: 22.6352%; height: 66px;\">Pre-filled as Company limited by Guarantee<\/td>\r\n<td style=\"width: 39.5562%; height: 66px;\">Select any sub-category.<\/td>\r\n<\/tr>\r\n<tr style=\"height: 65px;\">\r\n<td style=\"width: 6.56716%; text-align: center; height: 65px;\">9<\/td>\r\n<td style=\"width: 14.1748%; height: 65px;\">Part l LLP to Company<\/td>\r\n<td style=\"width: 17.0666%; height: 65px;\">May select either Private or Public<\/td>\r\n<td style=\"width: 22.6352%; height: 65px;\">Pre-filled as Company limited by Shares&nbsp;<\/td>\r\n<td style=\"width: 39.5562%; height: 65px;\">Select any sub-category other than &lsquo;Guarantee and Association company&rsquo;.<\/td>\r\n<\/tr>\r\n<tr style=\"height: 28px;\">\r\n<td style=\"width: 6.56716%; text-align: center; height: 28px;\">10<\/td>\r\n<td style=\"width: 14.1748%; height: 28px;\">Part l Firm to Company<\/td>\r\n<td style=\"width: 17.0666%; height: 28px;\">May select either Private or Public<\/td>\r\n<td style=\"width: 22.6352%; height: 28px;\">Select any category<\/td>\r\n<td style=\"width: 39.5562%; height: 28px;\">Select any sub-category. However, Guarantee and association company option can be selected only if 'Company limited by guarantee' selected in field 1(c).<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<p>&nbsp;<\/p>\r\n<p>For any help in company registration <a href=\"https:\/\/www.filingdigits.com\/services\/business-registrations\" target=\"_blank\" rel=\"noopener\">click here<\/a>&nbsp;<\/p>","date":"Apr 25,2021","status":"1","image":"","link":"https:\/\/www.filingdigits.com\/blogdetails\/Company+Incorporation+Guide+Spice+Form+Selection+of+the+Class+of+the+Company","posted_by":"Admin","tags":"Incorporation, Guide","created_at":"0000-00-00 00:00:00"},{"id":"40","homepage_show":"1","blog_name":"Accounts Receivable Guide To Managing Cash Flows","blog_url":"accounts-receivable-guide-to-managing-cash-flows","category":"12","category_url":"","description":"<p>There is a direct relationship between your firm &rsquo;s growth and its working capital requirement. As your sales grow, your level and composition of working capital, namely, Inventory, Receivables, Cash, Payables, Short Term Loans etc. will also change. Accounts Receivables (AR) is one of the major components impacting the requirement of working capital. AR is a result of sales made to the customers on credit. A business can benefit from selling its goods and services on credit, thereby resulting in increased profits but at the same time, credit sales act as a stumbling block of funds and there can also be a possibility of bad debts due to defaults in payments by the customers. Therefore, it is essential for the business to carefully analyze and invoice on credit only to its reliable customers.<\/p>\r\n<p>Accounts Receivable Outsourcing involves ensuring timely collection of dues from its customers and managing the whole process in an organized and professional manner. AR helps in analyzing deeply the overall health of the business.<\/p>\r\n<p>Some of the issues faced by businesses today make a compelling argument in favor of outsourced AR management.<\/p>\r\n<ul>\r\n<li>Despite of rigorous follow ups with the customer, sometimes the business ends up writing off the bad debts since the employees do not find them worth their time.<\/li>\r\n<li>It happens that you decide on aggressive collections say during a quarter or year-end but end up denting the relationship with some customers.<\/li>\r\n<li>Lack of professional awareness on managing working capital issues hampers day to day operations. While everything looks good in terms of incremental sales but slow recovery ends up hitting your profitability.<\/li>\r\n<li>A lot of money parked in accounts receivable reflects on poor business acumen. Investors or lenders do not find such businesses attractive thus hitting your growth and expansion plans.<\/li>\r\n<li>Increased cost of funding from the banks in the form of Over Draft or other Working Capital Loans because of blockage of funds in working capital.<\/li>\r\n<li>Frequent cash squeezes making it difficult for you to honor your financial commitments thereby impacting your credit worthiness in the market.<\/li>\r\n<\/ul>\r\n<p>Conclusion- Good account receivable management is the life blood if not the heart or brain of one&rsquo;s operations. Poor account receivable management along with other factors have led to falling of great enterprises and with laws such as the Insolvency and Bankruptcy Code in place, it is better that we have the cash flowing and never dishonor on outstanding commitments.<\/p>\r\n<p>AR management is a professional process which helps you strengthen your receivable position and broadly includes the following activities;<\/p>\r\n<ul>\r\n<li>Assessing the customer&rsquo;s credit rating.<\/li>\r\n<li>Advising on matters relating to supplier contracts, invoicing and bookkeeping.<\/li>\r\n<li>Help reach a balance where customers&rsquo; needs and the firm&rsquo;s credit policy are in line.<\/li>\r\n<li>Making recovery faster while maintaining good customer relations ensuring a more collaborative environment.<\/li>\r\n<li>Ensuring Bad Debts are detected in timely manner and advising on ways to mitigate risks leading to &lsquo;debt turning bad&rsquo; situation.<\/li>\r\n<li>Timely scanning and monitoring customers for credit risks.<\/li>\r\n<li>Entertaining customer concerns.<\/li>\r\n<li>Collection Management.<\/li>\r\n<\/ul>\r\n<p>Some tangible benefits that do arise on outsourcing AR Management include but are not limited to the following;<\/p>\r\n<ul>\r\n<li>Strong financial position which leads to increased credit worthiness and decreased financing cost.<\/li>\r\n<li>Receive a summarized report on AR position and recovery with a review of Service Level Agreement (SLA) matrix, performance and Turn Around Time (TAT) compliances.<\/li>\r\n<li>Shortening Payment terms.<\/li>\r\n<li>A Standard Operating Procedure on Bill Dispute Resolution Process.<\/li>\r\n<li>Proactive approach to AR management including early intervention to decrease the amount of avoidable write offs.<\/li>\r\n<li>Increased promoter\/senior management efficiency because the time is now allocated to vital activities necessary for growth and smooth operations.<\/li>\r\n<li>Faster recovery of funds and efficient allocation to short term investment avenues such as Government Bills leads to increased Return on Funds or Capital Employed.<\/li>\r\n<li>Time to Time advisory and consultancy relating to good AR management practices.<\/li>\r\n<\/ul>\r\n<p>Source : <a href=\"http:\/\/aristotleconsultancy.com\/accounts-receivable-guide-to-managing-cash-flows\/\">Aristotle<\/a><\/p>\r\n<p>&nbsp;<\/p>","date":"Apr 25,2021","status":"1","image":"","link":"","posted_by":"Admin","tags":"","created_at":"0000-00-00 00:00:00"},{"id":"38","homepage_show":"1","blog_name":"Partnership Firm- Benefit & Registration","blog_url":"partnership-firm--benefit---registration","category":"10","category_url":"","description":"<p style=\"text-align: justify;\">A Partnership Firm is consisting of two or more people having the mutual understanding to run a business and earned profit. Partnership firms are governed by the Indian Partnership Act, 1932 in India. Persons who sign the deed are known as partners and collectively can be seen as a partnership firm.<\/p>\r\n<p><strong>Benefits of a partnership firm:<\/strong><\/p>\r\n<ul>\r\n<li>Can be formed just by a notarised deed i.e. easy formation.<\/li>\r\n<li>Can be operated easily, with no restrictions in the law.<\/li>\r\n<li>Can have a greater\/larger operational size than a proprietorship firm.<\/li>\r\n<li>Can be managed better.<\/li>\r\n<li>Business risk is shared between partners.<\/li>\r\n<li>Easy sharing of profit too.<\/li>\r\n<\/ul>\r\n<p><strong>Disadvantages of a partnership firm:<\/strong><\/p>\r\n<ul>\r\n<li>Not properly protected by law.<\/li>\r\n<li>Unlimited liability of partners<\/li>\r\n<li>Disagreement between partners<\/li>\r\n<li>Limitation of capital<\/li>\r\n<li>The high tax rate in Income tax law<\/li>\r\n<\/ul>\r\n<p><strong>Features of a partnership firm:<\/strong><\/p>\r\n<ul>\r\n<li>Minimum 2 or more partners<\/li>\r\n<li>Registration is not compulsory<\/li>\r\n<li>Contract in the form of partnership deed<\/li>\r\n<li>Partners can not be minor.<\/li>\r\n<li>Unlimited liability of partners<\/li>\r\n<li>Mutual consent for any change in partnership<\/li>\r\n<li>Partners have to work in the best interest of the firm<\/li>\r\n<\/ul>\r\n<p><strong>Registration &amp; Documents:<\/strong><\/p>\r\n<p style=\"text-align: justify;\">A partnership firm can be started anytime without being registered with the registrar and without doing any legal formalities. If you want to get register as a partnership firm then an application can be filed under the Indian Partnership Act, 1932. The application is to be filed with the jurisdictional Registrar of Firm. The Registrar of Firm after being satisfied will issue a certificate of registration to the firm.<\/p>\r\n<p><strong>Documents in brief:<\/strong><\/p>\r\n<ul>\r\n<li>Application form as prescribed in law (Generally Form 1)<\/li>\r\n<li>ID, Address proof &amp; Photos of all Partners<\/li>\r\n<li>Partnership deed duly signed<\/li>\r\n<li>Proof of business address<\/li>\r\n<\/ul>\r\n<p>For more details on the registration of the firm, <a href=\"https:\/\/www.filingdigits.com\/services\/business-registrations\/partnership-firm-registration\">Visit us<\/a>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>","date":"May 25,2021","status":"1","image":"","link":"","posted_by":"Admin","tags":"","created_at":"0000-00-00 00:00:00"},{"id":"37","homepage_show":"1","blog_name":"GST registration for foreigners under GST Act- GST REG 09","blog_url":"gst-registration-for-foreigners-under-gst-act--gst-reg-09","category":"5","category_url":"","description":"<p style=\"text-align: justify;\">A Non-resident taxable person who is occasionally supplying goods or services or paying GST on an occasional basis, compulsory to have GST registration u\/s 24 of CGST. A non-resident taxable person making taxable supply in India has to compulsorily take registration. There is no threshold limit for registration.<\/p>\r\n<p><span style=\"color: #99cc00;\"><strong><u>Time Limit<\/u><\/strong><\/span><\/p>\r\n<p style=\"text-align: justify;\">A non-resident taxable person must get registered under the GST Act mandatorily irrespective of their aggregate annual turnover. The prior intimation is required to be filed before 5 days of commencement of any business activity in India.<\/p>\r\n<p><span style=\"color: #99cc00;\"><strong><u>Composition Levy<\/u><\/strong><\/span><\/p>\r\n<p style=\"text-align: justify;\">A non-resident taxable person CANNOT exercise the option to pay tax under composition levy.<\/p>\r\n<p><span style=\"color: #99cc00;\"><strong><u>Provisional GST Registration<\/u><\/strong><\/span><\/p>\r\n<p style=\"text-align: justify;\">Non-resident taxable persons shall file an application for registration in simple FORM GST REG-09 along with the supporting documents as prescribed to have provisional registration. An advance deposit of GST shall be paid to the government based on the estimated sale.<\/p>\r\n<p><span style=\"color: #99cc00;\"><strong><u>Self-Attested Documents for GST Registration<\/u><\/strong><\/span><\/p>\r\n<ul>\r\n<li style=\"text-align: justify;\">PAN card of Foreigner (Optional)<\/li>\r\n<li style=\"text-align: justify;\">PAN card of Indian Authorized Signatory<\/li>\r\n<li style=\"text-align: justify;\">Copy of Passport\/Visa Details<\/li>\r\n<li style=\"text-align: justify;\">Valid Phone no. and Email id for OTP\/EVC of Authorised Signatory<\/li>\r\n<li style=\"text-align: justify;\">Passport size photograph of the Applicant<\/li>\r\n<li style=\"text-align: justify;\">Proof of principal place of business<\/li>\r\n<li style=\"text-align: justify;\">Proof of details of Bank Account<\/li>\r\n<li style=\"text-align: justify;\">Other details like\r\n<ul>\r\n<li>List of Goods and Services<\/li>\r\n<li>TIN or Any unique number issued In or Outside India<\/li>\r\n<li>Proof of appointment of Authorized Signatory (Letter of Authorization or copy of board resolution)<\/li>\r\n<li>Authorized Signatories photo<\/li>\r\n<li>Incorporation certificate (for Company and LLP)<\/li>\r\n<li>DSC<\/li>\r\n<\/ul>\r\n<\/li>\r\n<\/ul>\r\n<p><span style=\"color: #99cc00;\"><strong><u>Final GST Registration<\/u><\/strong><\/span><\/p>\r\n<p style=\"text-align: justify;\">The non-resident taxable person can make taxable supplies only after the issuance of the certificate of registration. The certificate of registration shall be valid for the period specified in the application for registration or ninety days from the effective date of registration, whichever is earlier.<\/p>\r\n<p style=\"text-align: justify;\">The application for registration shall be signed by his authorized signatory who is a person resident in India having valid PAN.<\/p>\r\n<p style=\"text-align: justify;\">In case the non-resident taxable person intends to extend the period of registration indicated in his application of registration, an application in FORM GST REG-11 shall be submitted electronically through the Common Portal, before the end of the validity of registration granted to him. The validity period of ninety days can be extended by a further period not exceeding ninety days. The extension will be allowed only on payment of the amount of an additional amount of tax equivalent to the estimated tax liability for the period for which the extension.<\/p>\r\n<p style=\"text-align: justify;\"><span style=\"text-decoration: underline; color: #99cc00;\"><strong>Input Tax Credit<\/strong><\/span><\/p>\r\n<p style=\"text-align: justify;\">The input tax credit shall not be available in respect of goods or services or both received by a non-resident taxable person except on goods imported by him. The taxes paid by a non-resident taxable person shall be available as credit to the respective recipients.<\/p>\r\n<p style=\"text-align: justify;\"><span style=\"text-decoration: underline; color: #99cc00;\"><strong>Returns<\/strong><\/span><\/p>\r\n<p style=\"text-align: justify;\">The non-resident taxable person shall furnish a return in FORM GSTR-5 electronically through the Common Portal.<\/p>\r\n<hr \/>\r\n<p style=\"text-align: justify;\"><strong>For more help on GST Registration &amp; Compliances, please <a href=\"https:\/\/www.filingdigits.com\/services\/goods---services-tax--gst-\" target=\"_blank\" rel=\"noopener\">VISIT<\/a><\/strong><\/p>","date":"Sep 03,2020","status":"1","image":"","link":"","posted_by":"Admin","tags":null,"created_at":"0000-00-00 00:00:00"},{"id":"36","homepage_show":"1","blog_name":"Change in GST Registration and Aadhar Authentication","blog_url":"change-in-gst-registration-and-aadhar-authentication","category":"5","category_url":"","description":"<p style=\"text-align: justify;\">As per the recent notification of CBIC dated 20\/08\/2020, there are some changes in the GST registration procedure w.e.f. 21\/08\/2020. Main points are summarised as below:<\/p>\r\n<ul>\r\n<li style=\"text-align: justify;\"><span style=\"color: #ccffcc;\">Aadhaar Authentication<\/span> of relevant signatory has been enabled on GST portal, for the persons applying for GST registration as Normal Taxpayer\/ Composition\/ Casual Taxable Person\/ Input Service Distributor (ISD)\/ SEZ Developer\/ SEZ Unit, etc, in registration Form GST REG 01.<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"text-align: justify;\">Authorized signatory of all types of businesses applying for new registration, can opt to undergo e-KYC authentication of their Aadhaar number at GST portal. The date of submission of <span style=\"color: #ccffcc;\">registration application will be the date of such Aadhar authentication<\/span> and the proper officer has to act upon the application <span style=\"color: #ccffcc;\">within 3 working days<\/span>.<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"text-align: justify;\">It means GST registration will be <span style=\"color: #ccffcc;\">deemed to be approved<\/span> if the proper office has not acted upon within 3 days for an application submitted through Aadhar authentication.<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"text-align: justify;\">Aadhar authentication is necessary for all the persons and has to be done <span style=\"color: #ccffcc;\">using OTP<\/span> received on the mobile number registered with Aadhar of a particular person.<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"text-align: justify;\">Applicants, who, either do not provide Aadhaar, while applying for new registration or whose Aadhar authentication fails validation, would be subjected to <span style=\"color: #ccffcc;\">verification at the registered address<\/span> by the GST department. However, this is only up to Tax authority, based on the documents produced that can grant registration.<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"text-align: justify;\">In the above case, If Aadhar authentication is not opted for or if authentication fails in validation and no notice is issued within 21 days by GST official, registration will be deemed approved.<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"text-align: justify;\">Persons who are not resident \/citizen of India are <span style=\"color: #ccffcc;\">exempted from the Aadhaar<\/span> authentication process<\/li>\r\n<\/ul>\r\n<p><span style=\"color: #99cc00;\"><strong>In short, We can see GST registration approval time as below:<\/strong><\/span><\/p>\r\n<table style=\"border-collapse: collapse; width: 100%;\" border=\"1\">\r\n<tbody>\r\n<tr>\r\n<td style=\"width: 8.77254%; text-align: center;\"><strong>S. No.<\/strong><\/td>\r\n<td style=\"width: 30.6866%; text-align: center;\"><strong>Registration with<\/strong><\/td>\r\n<td style=\"width: 19.7295%; text-align: center;\"><strong>Time of Approval<\/strong><\/td>\r\n<td style=\"width: 40.8114%; text-align: center;\"><strong>If Notice issued<\/strong><\/td>\r\n<\/tr>\r\n<tr>\r\n<td style=\"width: 8.77254%; text-align: center;\">1<\/td>\r\n<td style=\"width: 30.6866%;\">Aadhar Authentication<\/td>\r\n<td style=\"width: 19.7295%; text-align: center;\">3 Days<\/td>\r\n<td style=\"width: 40.8114%; text-align: justify;\">Have to reply to the SCN first then registration will get approved or rejected.<\/td>\r\n<\/tr>\r\n<tr>\r\n<td style=\"width: 8.77254%; text-align: center;\">2<\/td>\r\n<td style=\"width: 30.6866%;\">Without Aadhar Authentication<\/td>\r\n<td style=\"width: 19.7295%; text-align: center;\">21 Days<\/td>\r\n<td style=\"width: 40.8114%; text-align: justify;\">Have to reply to the SCN first then registration will get approved or rejected.<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<p>&nbsp;<\/p>\r\n<p><span style=\"color: #ffcc99;\"><strong>To Get apply for GST Registration with filingdigits, you can visit at <a style=\"color: #ffcc99;\" href=\"https:\/\/www.filingdigits.com\/services\/goods---services-tax--gst-\/gst-registration\" target=\"_blank\" rel=\"noopener\">Click Here<\/a><\/strong><\/span><\/p>","date":"Aug 22,2020","status":"1","image":"","link":"","posted_by":"Admin","tags":null,"created_at":"0000-00-00 00:00:00"},{"id":"35","homepage_show":"1","blog_name":"Know about IEC (Import-Export Code) and Its benefit","blog_url":"know-about-iec--import-export-code--and-its-benefit","category":"8","category_url":"","description":"<p style=\"text-align: justify;\">An IEC is a key business identification number which mandatory for export from India or Import to India. No export or import shall be made by any person without obtaining an IEC unless specifically exempted. For services exports, however, IEC shall not be necessary except when the service provider is taking benefits under the Foreign Trade Policy.<\/p>\r\n<p style=\"text-align: justify;\">Every importer\/exporter irrespective of the type of business organization is required to obtain IEC. IEC contains a ten-digit alphanumeric registration number just as PAN issued by the Directorate General of Foreign Trade. For our country's growth and development, Import and export business has significance importance. Therefore keeping in mind the same DGFT has introduced a mandatory requirement to have IEC for the trade\/commerce\/business of import and export.<\/p>\r\n<p style=\"text-align: justify;\"><span style=\"color: #ccffff;\"><strong>Benefits of IEC:<\/strong><\/span><\/p>\r\n<ul style=\"text-align: justify;\">\r\n<li style=\"text-align: justify;\">You will be able to claim various export incentives offered by the Govt of India.<\/li>\r\n<li style=\"text-align: justify;\">Free to do import or export by maintaining great competitiveness.<\/li>\r\n<li style=\"text-align: justify;\">There no compliance or filing is required for an IEC.<\/li>\r\n<li style=\"text-align: justify;\">No expiration of the validity<\/li>\r\n<li style=\"text-align: justify;\">Able to cover the global market<\/li>\r\n<\/ul>\r\n<p style=\"text-align: justify;\"><span style=\"color: #ccffff;\"><strong>Why IEC is required:<\/strong><\/span><\/p>\r\n<ul style=\"text-align: justify;\">\r\n<li style=\"text-align: justify;\">For every import and export, you need IEC. Whether this is goods or services.<\/li>\r\n<li style=\"text-align: justify;\">To clear our shipment from custom.<\/li>\r\n<li style=\"text-align: justify;\">To ship the goods to another country i.e. to export the goods.<\/li>\r\n<li style=\"text-align: justify;\">To realize or to make the payment for import and export.<\/li>\r\n<\/ul>\r\n<p style=\"text-align: justify;\"><span style=\"color: #ccffff;\"><strong>How to apply IEC?<\/strong><\/span><\/p>\r\n<ul style=\"text-align: justify;\">\r\n<li><strong><a href=\"https:\/\/www.filingdigits.com\/services\/license---permits\/import-export-code--iec-\" target=\"_blank\" rel=\"noopener\">Click Here<\/a><\/strong><\/li>\r\n<\/ul>\r\n<p style=\"text-align: justify;\"><span style=\"color: #ccffff;\"><strong>What are the various documents required to apply IEC?<\/strong><\/span><\/p>\r\n<ul>\r\n<li style=\"text-align: justify;\">Mobile no. and email-id of organization<\/li>\r\n<li style=\"text-align: justify;\">Pan of individual\/company\/LLP\/partnership firm as the case may be<\/li>\r\n<li style=\"text-align: justify;\">ID proof of individual Aadhar card\/Voter id\/Passport<\/li>\r\n<li style=\"text-align: justify;\">List of directors in case company applicant<\/li>\r\n<li style=\"text-align: justify;\">Registered address proof of business premises i.e. Rent agreement, sale deed, lease deed or electricity bill with NOC from owner<\/li>\r\n<li style=\"text-align: justify;\">Canceled Cheque with Organisation name<\/li>\r\n<li style=\"text-align: justify;\">Digital Signatures<\/li>\r\n<li style=\"text-align: justify;\">Nature of Business activities<\/li>\r\n<\/ul>","date":"Aug 16,2020","status":"1","image":"","link":"","posted_by":"Admin","tags":null,"created_at":"0000-00-00 00:00:00"},{"id":"34","homepage_show":"1","blog_name":"Important deductions under Income Tax Act- avail to get maximum tax saving","blog_url":"important-deductions-under-income-tax-act--avail-to-get-maximum-tax-saving","category":"7","category_url":"","description":"<p style=\"text-align: justify;\">To reduce your tax liability to a maximum extent, you can use certain deductions allowed under the income tax act. Deductions are only allowed if you have made eligible tax-saving investments or spend eligible expenses. There are a number of deductions available under various sections that will bring down your taxable income. Most of the covered under section 80C. Other preferred deductions are 80D, 80E, 80G or 80GG, etc. In this article, let us discuss some of the important deductions under chapter VIA that a taxpayer can claim.<\/p>\r\n<table style=\"border-collapse: collapse; width: 100%; height: 637px;\" border=\"1\">\r\n<tbody>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; text-align: center; height: 17px;\"><span style=\"color: #99cc00;\"><strong>S. No.<\/strong><\/span><\/td>\r\n<td style=\"width: 14.8016%; text-align: center; height: 17px;\"><span style=\"color: #99cc00;\"><strong>Amount Limit<\/strong><\/span><\/td>\r\n<td style=\"width: 12.1639%; text-align: center; height: 17px;\"><span style=\"color: #99cc00;\"><strong>Section<\/strong><\/span><\/td>\r\n<td style=\"width: 43.3466%; text-align: center; height: 17px;\"><span style=\"color: #99cc00;\"><strong>Description<\/strong><\/span><\/td>\r\n<td style=\"width: 20%; text-align: center; height: 17px;\"><span style=\"color: #99cc00;\"><strong>Remark\/Condition<\/strong><\/span><\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">1<\/td>\r\n<td style=\"width: 14.8016%; height: 348px; text-align: center;\" rowspan=\"12\">1,50,000<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80C<\/td>\r\n<td style=\"width: 43.3466%; height: 17px; text-align: justify;\">National Savings Certificate (Accrued Interest)<\/td>\r\n<td style=\"width: 20%; height: 17px;\">&nbsp;<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">2<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80C<\/td>\r\n<td style=\"width: 43.3466%; height: 17px; text-align: justify;\">National Savings Certificate (New Invest)<\/td>\r\n<td style=\"width: 20%; height: 17px;\">&nbsp;<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">3<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80C<\/td>\r\n<td style=\"width: 43.3466%; height: 17px; text-align: justify;\">Repayment of Housing Loan (Principal Part)<\/td>\r\n<td style=\"width: 20%; height: 17px;\">&nbsp;<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">4<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80C<\/td>\r\n<td style=\"width: 43.3466%; height: 17px; text-align: justify;\">Payment towards Life Insurance Premium<\/td>\r\n<td style=\"width: 20%; height: 17px;\">&nbsp;<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">5<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80C<\/td>\r\n<td style=\"width: 43.3466%; height: 17px; text-align: justify;\">Unit Linked Insurance Premium (ULIP)<\/td>\r\n<td style=\"width: 20%; height: 17px;\">&nbsp;<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">6<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80C<\/td>\r\n<td style=\"width: 43.3466%; height: 17px; text-align: justify;\">Contribution in Provident Fund<\/td>\r\n<td style=\"width: 20%; height: 17px;\">&nbsp;<\/td>\r\n<\/tr>\r\n<tr style=\"height: 35px;\">\r\n<td style=\"width: 9.68792%; height: 35px; text-align: center;\">7<\/td>\r\n<td style=\"width: 12.1639%; height: 35px; text-align: center;\">80C<\/td>\r\n<td style=\"width: 43.3466%; height: 35px; text-align: justify;\">Investments made in Debentures\/Shares of Companies (Eligible)<\/td>\r\n<td style=\"width: 20%; height: 35px;\">&nbsp;<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">8<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80C<\/td>\r\n<td style=\"width: 43.3466%; height: 17px; text-align: justify;\">Tuition Fees<\/td>\r\n<td style=\"width: 20%; height: 17px;\">&nbsp;<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">9<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80C<\/td>\r\n<td style=\"width: 43.3466%; height: 17px; text-align: justify;\">Equity Linked Savings Scheme (Eligible)<\/td>\r\n<td style=\"width: 20%; height: 17px;\">&nbsp;<\/td>\r\n<\/tr>\r\n<tr style=\"height: 35px;\">\r\n<td style=\"width: 9.68792%; height: 35px; text-align: center;\">10<\/td>\r\n<td style=\"width: 12.1639%; height: 35px; text-align: center;\">80CCC<\/td>\r\n<td style=\"width: 43.3466%; height: 35px; text-align: justify;\">Deduction in respect of contribution to eligible pension funds (Private)<\/td>\r\n<td style=\"width: 20%; height: 35px;\">&nbsp;<\/td>\r\n<\/tr>\r\n<tr style=\"height: 71px;\">\r\n<td style=\"width: 9.68792%; height: 71px; text-align: center;\">11<\/td>\r\n<td style=\"width: 12.1639%; height: 71px; text-align: center;\">80CCD (1)<\/td>\r\n<td style=\"width: 43.3466%; height: 71px; text-align: justify;\">Deduction in respect of contribution to eligible pension funds- NPS, OTher (Govt.)<\/td>\r\n<td style=\"width: 20%; height: 71px;\">Up to 10% of the salary (Basic+D.A) [Salaried] or 20% of the GTI [Self Emp.].<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">12<\/td>\r\n<td style=\"width: 12.1639%; text-align: center; height: 71px;\">80CCD (2)<\/td>\r\n<td style=\"width: 43.3466%; text-align: justify; height: 71px;\">Employer contribution to pension scheme of Govt. on behalf of the employee<\/td>\r\n<td style=\"width: 20%; text-align: justify; height: 71px;\">Only for a salaried person up to 10% of Basic Salary plus Dear Allowance<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">13<\/td>\r\n<td style=\"width: 14.8016%; height: 17px; text-align: center;\">50,000<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80CCD (1B)<\/td>\r\n<td style=\"width: 43.3466%; height: 17px;\">Additional Deduction for National Pension System Contribution<\/td>\r\n<td style=\"width: 20%; height: 17px;\">Over Rs 150,000<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">14<\/td>\r\n<td style=\"width: 14.8016%; height: 17px; text-align: center;\">25,000<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80D<\/td>\r\n<td style=\"width: 43.3466%; height: 17px;\">Deduction in respect of Medical Insurance Premium<\/td>\r\n<td style=\"width: 20%; height: 17px; text-align: justify;\">For self, Spouse, and Children<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">15<\/td>\r\n<td style=\"width: 14.8016%; height: 17px; text-align: center;\">25,000<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80D<\/td>\r\n<td style=\"width: 43.3466%; height: 17px;\">Deduction in respect of Medical Insurance Premium<\/td>\r\n<td style=\"width: 20%; height: 17px; text-align: justify;\">For parents less than 60 years of age (Additional Rs 25,000 for parents above 60 years of age)<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">16<\/td>\r\n<td style=\"width: 14.8016%; height: 17px; text-align: center;\">5,000<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80D<\/td>\r\n<td style=\"width: 43.3466%; height: 17px;\">&nbsp;<\/td>\r\n<td style=\"width: 20%; height: 17px;\">&nbsp;<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">17<\/td>\r\n<td style=\"width: 14.8016%; height: 17px; text-align: center;\">75,000<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80DD<\/td>\r\n<td style=\"width: 43.3466%; height: 17px; text-align: justify;\">Deduction in respect of maintenance including medical treatment of handicapped dependent<\/td>\r\n<td style=\"width: 20%; height: 17px; text-align: justify;\">For a person with disability and amount increased Rs.1,25,000 for a person with severe disability<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">18<\/td>\r\n<td style=\"width: 14.8016%; height: 17px; text-align: center;\">Rs 40,000\/ 100,000 or Actual- Lower<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80DDB<\/td>\r\n<td style=\"width: 43.3466%; height: 17px; text-align: justify;\">Medical treatment of specific diseases or ailments for himself\/herself or for a dependent.<\/td>\r\n<td style=\"width: 20%; height: 17px; text-align: justify;\">Rs. 40,000 for taxpayers less than 60 years of age and Rs.1,00,000 for Senior Citizens.<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">19<\/td>\r\n<td style=\"width: 14.8016%; height: 17px; text-align: center;\">No Limit<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80E<\/td>\r\n<td style=\"width: 43.3466%; height: 17px; text-align: justify;\">Deduction in respect of interest on loan taken for higher education<\/td>\r\n<td style=\"width: 20%; height: 17px; text-align: justify;\">Can be availed for a maximum period of 8 years<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">20<\/td>\r\n<td style=\"width: 14.8016%; height: 17px; text-align: center;\">150,000 p.a.<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80EEA<\/td>\r\n<td style=\"width: 43.3466%; height: 17px; text-align: justify;\">Deduction in respect of interest on loan taken for residential house property under affordable housing scheme purchased in the Financial Year 2019-20<\/td>\r\n<td style=\"width: 20%; height: 17px; text-align: justify;\">This deduction is over and above the deduction of Rs.2 Lakhs u\/s 24 in head HP.<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">21<\/td>\r\n<td style=\"width: 14.8016%; height: 17px; text-align: center;\">Any Amount<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80G<\/td>\r\n<td style=\"width: 43.3466%; height: 17px; text-align: justify;\">Deduction in respect of donation to certain funds, charitable institutions<\/td>\r\n<td style=\"width: 20%; height: 17px; text-align: justify;\">Cannot donate above Rs 2000 in cash.<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">22<\/td>\r\n<td style=\"width: 14.8016%; height: 17px; text-align: center;\">Max 60,000<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80GG<\/td>\r\n<td style=\"width: 43.3466%; height: 17px; text-align: justify;\">Deduction in respect of rents paid (Non-Salaried)<\/td>\r\n<td style=\"width: 20%; height: 17px; text-align: justify;\">Deduction shall be lower of:-\r\n<p>1. Actual Rent paid minus 10% of ATI<\/p>\r\n<p>2.Rs.5000 per month<\/p>\r\n<p>3. 25% of ATI<\/p>\r\n<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">23<\/td>\r\n<td style=\"width: 14.8016%; height: 17px; text-align: center;\">Any Amount<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80GGC<\/td>\r\n<td style=\"width: 43.3466%; height: 17px; text-align: justify;\">Deduction in respect of contributions given by any person to political parties<\/td>\r\n<td style=\"width: 20%; height: 17px; text-align: justify;\">&nbsp;<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">24<\/td>\r\n<td style=\"width: 14.8016%; height: 17px; text-align: center;\">Any Amount<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80O<\/td>\r\n<td style=\"width: 43.3466%; height: 17px; text-align: justify;\">Royalties from Foreign Enterprises<\/td>\r\n<td style=\"width: 20%; height: 17px; text-align: justify;\">&nbsp;<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">25<\/td>\r\n<td style=\"width: 14.8016%; height: 17px; text-align: center;\">&nbsp;<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80P<\/td>\r\n<td style=\"width: 43.3466%; height: 17px; text-align: justify;\">The income of Cooperative Societies<\/td>\r\n<td style=\"width: 20%; height: 17px; text-align: justify;\">100% deduction if engaged in certain specified activities.<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">26<\/td>\r\n<td style=\"width: 14.8016%; height: 17px; text-align: center;\">10,000<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80TTA<\/td>\r\n<td style=\"width: 43.3466%; height: 17px; text-align: justify;\">Deduction in respect of interest on deposits in a savings account<\/td>\r\n<td style=\"width: 20%; height: 17px; text-align: justify;\">&nbsp;<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">27<\/td>\r\n<td style=\"width: 14.8016%; height: 17px; text-align: center;\">50,000<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80TTB<\/td>\r\n<td style=\"width: 43.3466%; height: 17px; text-align: justify;\">Deduction in respect of interest on all types of deposits in case of senior citizens<\/td>\r\n<td style=\"width: 20%; height: 17px; text-align: justify;\">&nbsp;<\/td>\r\n<\/tr>\r\n<tr style=\"height: 17px;\">\r\n<td style=\"width: 9.68792%; height: 17px; text-align: center;\">28<\/td>\r\n<td style=\"width: 14.8016%; height: 17px; text-align: center;\">75,000\/125000<\/td>\r\n<td style=\"width: 12.1639%; height: 17px; text-align: center;\">80U<\/td>\r\n<td style=\"width: 43.3466%; height: 17px; text-align: justify;\">Deduction in case of permanent physical disability<\/td>\r\n<td style=\"width: 20%; height: 17px; text-align: justify;\">75000 for a person with 80% disability and 125000 with more than 80% disability<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<p><strong>For more information or To get professional services for Income Tax Return <a href=\"https:\/\/www.filingdigits.com\/services\/income-tax-returns\" target=\"_blank\" rel=\"noopener\">Click Here<\/a><\/strong><\/p>","date":"Aug 16,2020","status":"1","image":"","link":"","posted_by":"Admin","tags":null,"created_at":"0000-00-00 00:00:00"}],"row":"%22https:"}