The 5-Second Trick For 86 cash
The 5-Second Trick For 86 cash
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The DST cannot tackle new money once it is closed. Existing traders also are unable to lead much more cash. Their Preliminary expense is their remaining expenditure.
While it may appear to be Rule 86B is to severely dampen the convenience of executing enterprise, the intent at the rear of the notification from the claimed provision really should not be obscured. It really is to capture keep of folks issuing phony invoices and so are ‘fly by night time’ operators.
Ans. It's been Plainly offered the Restrict is for refund received in the previous monetary calendar year regardless of the period of time for which the refund were claimed.
Hence, in which zero rated materials are with payment of tax, 1% cash payment will even now be needed on output tax together with that on zero rated supplies.
Ans. The limit of one% is about the output tax liability only. Reverse demand payments can't be considered as payment of output taxes. Thus, the limit of one% will exclude the part of taxes which has been compensated underneath reverse cost.
A single route would be to concede which the FBI includes a right to choose their income or valuables and request return of at the very least a portion.
In the event the registered person under worry has discharged his legal responsibility in direction of output tax by electronic cash ledger for an sum in excessive of one% cumulatively of the overall output tax legal responsibility up on the explained month in the current monetary year.
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♦ If you're a real tax payer then you can implement towards the commissioner or authorised officer with
CBIC has further clarified that one% is usually to be calculated within the tax legal responsibility in a month and also the turnover of the respective thirty day period.
Please evaluate the legislation with your state To find out more with regards to the implications of not repaying a payday bank loan.
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discharged the liability adhering to rule 86(B) in the credit history ledger rather than cash ledger. am i responsible for fascination if paid out discharged by means of cash ledger afterwards
Ans. Only registered folks who have taxable materials of over Rs. fifty lakhs in a specific thirty day period (matter to certain exceptions) ought to comply with this provision.