ITR latefilling for Computer Sales ITR latefilling for Computer Sales & Services businesses does indeed incur penalties. The penalty amount varies based on the tax due and the delay period. 🕒 If the filing is delayed up to 30 days, the is 5% of the tax due. ⏳ Beyond the initial 30 days and up… Read More »
Tax Audit Report for Construction Works Tax Audit Report for Construction Works Certainly, there exist consequences when it comes to the delayed submission of documentation regarding construction works and materials. The specific penalties are contingent on the governing jurisdiction, encompassing: 1. Daily Fine for Late Submission: A monetary penalty levied for each day beyond… Read More »
ITR for Computer Sales & Services ITR for Computer Sales & Services is July 31 of the assessment year. For example, the due date for filing ITR for the financial year 2022-23 is July 31, 2023. However, there are some taxpayers who are allowed to file their ITRs after the due date. These taxpayers… Read More »
Tax Audit Report for Architecturals The penalty and due date of the tax audit report for Architecturals, Engineering, and Surveying Services in India are as follows: ◘ Due Date: The due date for filing the tax audit reports for businesses providing Architectural, Engineering, and Surveying Services in India is generally September 30th of… Read More »
ITR for Computer Repair Running a computer repair and maintenance service business can be both rewarding and challenging. As a business owner in this industry, it’s crucial to understand your tax obligations and whether you need to file an Income Tax Return (ITR). This article delves into the eligibility and requirements for filing ITR… Read More »
Computer Repair and Maintenance Services Yes, there are penalties for computer repair and maintenance services if they fail to file their Income Tax Return (ITR) on time. The penalties depend on the number of days late the return is filed. Up to 30 days late: A penalty of Rs. 500. 31 to 60 days… Read More »
Tax Deductions for Architectural Tax Deductions for Architectural, engineering, and surveying services can claim certain tax deductions while filing their Income Tax Return (ITR). These deductions help reduce the taxable income and subsequently lower the tax liability. Here’s an explanation with three hashtags related to the answer: 1. ProfessionalExpensesDeduction: Professionals in architectural, engineering,… Read More »
Eligibility for ITR Yes, motor and truck rental services are Eligibility for ITR filing in India. When you provide motor and truck rental services, the income earned from these services is considered as business income and needs to be reported in your ITR. This income should be reported under the relevant head, which… Read More »
ITR for Automotive Repair Services When filing your ITR for Automotive Repair Services, there are several tax deductions you can consider. 1. Business Expenses Deduction: You can claim deductions for various business-related expenses incurred in providing automotive repair services. This includes expenses such as tools, equipment, spare parts, and salaries of technicians. These expenses… Read More »
ITR Penalties for Motor & Truck Rental Yes, there can be penalties for Motor & Truck Rental Services if they fail to file their Income Tax Return (ITR) on time in India. 1. Late Filing Penalty: If Motor & Truck Rental Services fail to file their ITR by the due date, they may incur… Read More »
