What is Annual Information Statement (AIS)? What information is shown in AIS? How AISis different from 26AS? How to access AIS? How to give feedback on AIS?
this presentation consists of the information abou TDS ans TCS and their implications under GST. It also includes the differnce between both the terms.
New income tax regime Vs Old Income Tax Regime - what is good for you Husys Consulting Ltd
In this document, we looked at the differences between the New Income Tax Regime and how our old Income Tax Regime. How is it useful for employees. There is a clear difference in using these regimes. Employees are allowed to use any of these.
#hrexpert #hrservices
#labourlaws #payrollmanagement #hrbusinesspartner #eor #peo #hrsupport #hrtechnology
#hrconsulting #gigworkers
#careerstargroup
#smebusiness #hr #hrconsultancy #hrtech
#hroutsourcing #smesector #outplacement
#msme #globalworkforce #payrolling #indiapeo #indiaentry #smesurvival #peoindia #hrcloud #indiapayroll #listing
Follow Husys on :
Linkedin : https://www.linkedin.com/company/143536/
Facebook : https://www.facebook.com/Husys
Twitter : @Husys
Slide Share : https://www.slideshare.net/grhusys/
Any questions can be directed to: reach(at)husys.com Phone : +91-9948078937 (India)
Traditionally India’s tax regime relied heavily on indirect taxes. Revenue from indirect taxes was the major source of tax revenue till tax reforms were undertaken during nineties. The major argument put forth for heavy reliance on indirect taxes was that the India’s majority of population was poor and thus widening base of direct taxes had inherent limitations. But the Indian system of indirect taxation is characterized by cascading, distorting tax on production of goods and services which leads to hampering productivity and slower economic growth. There are endless taxes in present system few levied by Centre and rest levied by state, to remove this multiplicity of taxes and reducing the burden of the tax payer a simple tax is required and that is Goods and Service Tax (GST). This paper throws an insight into the Goods and Service Tax concept, advantages, disadvantages and international scenario
this presentation consists of the information abou TDS ans TCS and their implications under GST. It also includes the differnce between both the terms.
New income tax regime Vs Old Income Tax Regime - what is good for you Husys Consulting Ltd
In this document, we looked at the differences between the New Income Tax Regime and how our old Income Tax Regime. How is it useful for employees. There is a clear difference in using these regimes. Employees are allowed to use any of these.
#hrexpert #hrservices
#labourlaws #payrollmanagement #hrbusinesspartner #eor #peo #hrsupport #hrtechnology
#hrconsulting #gigworkers
#careerstargroup
#smebusiness #hr #hrconsultancy #hrtech
#hroutsourcing #smesector #outplacement
#msme #globalworkforce #payrolling #indiapeo #indiaentry #smesurvival #peoindia #hrcloud #indiapayroll #listing
Follow Husys on :
Linkedin : https://www.linkedin.com/company/143536/
Facebook : https://www.facebook.com/Husys
Twitter : @Husys
Slide Share : https://www.slideshare.net/grhusys/
Any questions can be directed to: reach(at)husys.com Phone : +91-9948078937 (India)
Traditionally India’s tax regime relied heavily on indirect taxes. Revenue from indirect taxes was the major source of tax revenue till tax reforms were undertaken during nineties. The major argument put forth for heavy reliance on indirect taxes was that the India’s majority of population was poor and thus widening base of direct taxes had inherent limitations. But the Indian system of indirect taxation is characterized by cascading, distorting tax on production of goods and services which leads to hampering productivity and slower economic growth. There are endless taxes in present system few levied by Centre and rest levied by state, to remove this multiplicity of taxes and reducing the burden of the tax payer a simple tax is required and that is Goods and Service Tax (GST). This paper throws an insight into the Goods and Service Tax concept, advantages, disadvantages and international scenario
Impact of GST on Real Estate Sector | PresentationTaxmann
Topics Covered in this Webinar:
1. Real Estate Sector in great difficulty
2. Issues under the Real Estate Sector
3. Constitutional Background
4. GST Council
5. Sale of the complex before completion
6. Transactions out of GSTneither goods nor service para 5 of
Schedule III of CGST Act
7. Real Estate Projects
8. Some General Observations
9. Separate accounts for each real estate project
10. Promoter
And, Many More Details.
Composition Scheme in Revised GST Model Law
Eligibility & Conditions for Composition Scheme in GST Law
Rate of Tax in Composition Scheme
Restrictions to opt Composition Scheme
Return Form & Due dates in Composition Scheme
Late fees
This informative presentation has the latest information on establishment of GST Council in India, its Composition, Functions and other useful tit bits.
Presentation on TCS under section 206C (1H ) Taxmann
In this Presentation 헗헿. 헩헶헻헼헱 헞. 헦헶헻헴헵헮헻헶헮 has shared an Overview on "TCS under section 206C (1H)"
Topics Covered in this Presentation :
1. Who is liable to collect tax at the source?
A. “Seller” is required to collect tax at the source.
2. From whom tax is to be collected
A. Tax is required to be collected from buyers of goods.
3. Time of tax collection at source
4. Rate of TCS
5. When TCS is not required
6. Lower/nil TCS certificate
7. A few clarifications
8. Case-studies
Impact of GST on Real Estate Sector | PresentationTaxmann
Topics Covered in this Webinar:
1. Real Estate Sector in great difficulty
2. Issues under the Real Estate Sector
3. Constitutional Background
4. GST Council
5. Sale of the complex before completion
6. Transactions out of GSTneither goods nor service para 5 of
Schedule III of CGST Act
7. Real Estate Projects
8. Some General Observations
9. Separate accounts for each real estate project
10. Promoter
And, Many More Details.
Composition Scheme in Revised GST Model Law
Eligibility & Conditions for Composition Scheme in GST Law
Rate of Tax in Composition Scheme
Restrictions to opt Composition Scheme
Return Form & Due dates in Composition Scheme
Late fees
This informative presentation has the latest information on establishment of GST Council in India, its Composition, Functions and other useful tit bits.
Presentation on TCS under section 206C (1H ) Taxmann
In this Presentation 헗헿. 헩헶헻헼헱 헞. 헦헶헻헴헵헮헻헶헮 has shared an Overview on "TCS under section 206C (1H)"
Topics Covered in this Presentation :
1. Who is liable to collect tax at the source?
A. “Seller” is required to collect tax at the source.
2. From whom tax is to be collected
A. Tax is required to be collected from buyers of goods.
3. Time of tax collection at source
4. Rate of TCS
5. When TCS is not required
6. Lower/nil TCS certificate
7. A few clarifications
8. Case-studies
TDS related slides and how to file TDS returns and correction or modification on tds return. what is PAn what is TAN, issues faced during tds returing filling, corrections based on the notice received from income tax departments,
income tax payments, notices related to income tax and tds returns
All About TDS Return Filing Online 2024.pptxLegal Pillers
TDS i.e. Tax Deducted at Source, is the tax that has been deducted by the Government of India at the time of payments of some specific transactions including rent, commission, professional fees, salary, interest etc. TDS Return is the quarterly statement or summary of all the transactions related to the TDS made in the specific quarter.
Income Tax for New Tax Return Filers- FAQs.pptxtaxguruedu
This article provides a detailed overview of income tax, including its definition, the administrative framework, return filing period, who is liable to pay tax, how to pay tax, precautions in tax payment, advance tax calculation, income tax challans, Form 26AS, exempt income, taxable income, maintaining books of account, professions, and the period for which records should be kept. It also covers topics such as revenue receipts, capital receipts, agricultural income, and relief from double taxation.
Various sections and sub-sections are discussed in detail for e-filling of returns. Certain sections are discussed and pan card provisions are involved.
Income tax notice under scruitny assessementsOnlineITreturn
Income Tax Notice for Scrutiny Assessments under Income Tax Act 1961 are made u/s 143(3) if the Assessing Officer considers it necessary or expedient to ensure that-
(a) the assessee has not understated the income or has not computed excessive loss; or
(b) has not underpaid he tax in any manner.
This presentation helps one to learn the process of e filing of Income Tax return in India. This learning can be utilise as profession as tax consultant to students of commerce field.
With the help of this presentation one can learn e filing of Income Tax Return and can start his/her own practice as agent for filing of income tax returns
What Documents Are Required For TAN Application? A duly filled and signed application form, A passport-sized photograph of the authorised partner, ID proof of all partners. Copies must be made on an A4 paper,Address proof , latest partnership deed, Account statement,Registration certificate for the business and KYC details etc.
Applying for a Pan Card? Don't miss out on the important documents required for a PAN Card. Make your Pan Card application stress-free by knowing the documents needed beforehand.
Nowadays Form 15CA and 15CB are of a lot importance. We professional atleast have to issue one Form 15CB every day and form 15CA is also to be made by the professional on behalf of the client.
During trademark registration, you will face lot of trademark objections. In this section, we discuss how you can deal with trademark objection and what documents required for Trademark.
A trademark checklist starts with developing a trademark. Then, you need to search its availability, create and submit a trademark application, and enforce it.
Do your e-way bill registration faster . Find out everything about the registration process, details of the form, process of registration for transporters.
GST refund process involves many steps. RFD-01 must be filed on GST portal for most types of the refund whereas GSTR-1 and GSTR-3B filing is done for few.
MAG provides a comprehensive guide for GST compliance, detailing checklists for inward/outward supplies, reports, and internal documents, with specialized advice for consultants on various aspects like ITC, documentation, e-way bills, and reconciliation.
Cancellation of GST registration means that the taxpayer will no longer be a registered person under GST and will not have to pay/collect any GST, claim an input tax credit or file returns. GST registration cancelled is covered under Section 29 of the CGST Act and Rules 20 to 22 of the CGST Rules.
More from Manish Anil Gupta & Co. - A CA firm in Delhi, India (20)
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)
Annual Information Statement (AIS) - Extended version of From 26AS
1. The Income Tax Department has recently introduced the new Annual Information
Statement (AIS) on the Compliance Portal, which furnishes comprehensive information to a
taxpayer for a particular financial year. It includes information about taxpayers’ incomes,
financial transactions, tax details, Income Tax proceedings, etc. It also accepts feedback
from the assessees on the information shown in the AIS.
AIS displays both reported value (value reported by the reporting entities) as well as
modified value (i.e., the value after considering the assessee’s feedback) for each kind of
information, i.e., SFT, TDS, etc.
Objectives of the AIS
The objectives of introducing the AIS are:
• Showing complete information to the assessee with a facility to provide online feedback.
• Encouraging voluntary compliance and facilitating seamless prefilling of return.
• Preventing non-compliance.
Salient characteristics of the AIS
The characteristics of the AIS are:
• It contains information regarding dividends, interest, securities transactions, foreign
remittance information, mutual fund transactions, etc.
2. • Summary of AIS information is displayed in the Taxpayer Information Summary (TIS) for
ease of filing returns (prefilling will be enabled in a phased manner).
• Assessees will be able to submit online feedback on the information displayed in the AIS’s
and download information in PDF, CSV and JSON file formats.
• AIS Utility will enable taxpayers to view the AIS and upload feedback offline.
The information displayed in the AIS
In the AIS, the information is displayed in Part A and Part B.
PART A
It shows general information such as PAN, name, Aadhaar number, date of
birth/incorporation/formation, contact details of the assessee, etc.
PARTB
• Information relating to TDS and TCS;
• Information relating to Specified Financial Transactions (SFT);
• Information relating to the payment of taxes such as advance tax and self-assessment
tax;
• Information relating to the demand raised and refund initiated during a financial year;
• Information relating to pending proceedings and completed proceedings;
• Other information such as interest on refund, outward foreign remittance/purchase of
foreign currency, etc.
For example, for interest earned on the savings bank account - account number, account
type, source code, account status, the aggregate amount of interest from the savings
account from the said source is shown.
Procedure to check the AIS
The steps to check the AIS online are as follows:
Step 1: Log in at the Income Tax e-filing website at https://www.incometax.gov.in.
Step 2: After login, go to Services > Annual Information Statement (AIS).
Step 3: Click on the ‘Proceed’ button.
Step 4: It will take you to the compliance portal. You can view the Annual Information
Statement (AIS) and Taxpayer Information Summary (TIS) on the AIS home page.
Step 5: You can download the AIS and TIS by clicking on the download icon in the respective
tiles. The AIS can be downloaded in PDF or JSON formats, whereas the TIS can be
downloaded in PDF format.
3. If you download the PDF file, it will be password protected. To unlock it, enter the password
as a combination of PAN (in upper case) and date of birth in case of an individual assessee or
date of incorporation/formation in case of a non-individual assessee in the format
DDMMYYYY without any space.
For example, if an assessee has PAN, AAAAA9876Z and the date of birth is 31stMarch 1985,
his password will be AAAAA9876Z31031985.
Procedure for submitting online feedback on AIS Information
The steps to submit online feedback on the AIS information are as follows:
Step 1: Log in at the Income Tax e-filing portal and access the Annual Information
Statement.
Step 2: On accessing the AIS, the assessee will find the complete information for the chosen
financial year under Part B of the statement in the following sections:
• TDS/TCS Information;
• SFT Information;
• Payment of Taxes;
• Demand and Refund;
• Other Information
Step 3: Click on the appropriate tab to see the information source-wise.
Step 4: An assessee can expand the source-wise information by clicking on the left-hand
icon to see transaction-wise information.
Step 5: Choose the “Optional” tab in the feedback column to provide feedback on the
concerned transaction. An assessee can also give feedback on multiple transactions in bulk.
An assessee can select the following types of feedback:
• Information is correct
• Information is not completely correct
• Information relates to other PAN/Year
• Information is duplicate /included in other information
• Information is denied
• Customized Feedback. This is based on the information category. An additional
option, “Income is not taxable”, would be available in the feedback options drop-
down list if the transaction relates to an income.
Once the feedback is submitted, the information will reflect the modified figure in the
bracket.The revised value will be used to update the derived value in the Taxpayers
Information Summary (TIS).
The derived value in the TIS is then used to prefill the ITR form of the assessee.
The assessee can download the acknowledgement receipt from the activity history.
4. What is to be done if there is an error in the AIS or Form 26AS?
The AIS will include information currently available with the Income Tax department.
According to the Income Tax Law, certain entities are liable to report high-value transactions
to the department. The information in AIS will be shown only after the reporting entities
furnish information to the department. There may be possibilities that the data of a
particular period is not updated. Therefore, the assessees should check all the related
information and report complete and accurate information in the return of income. The
assessees may also follow the feedback mechanism to report mistakes in the AIS.
Which form should an assessee refer to when filing the ITR?
In case of deviation between the TDS or TCS information or the details of tax paid as shown
in Form 26AS vs AIS, the taxpayer may rely on the information displayed in Form 26AS for
filing the return. However, if the assessee has already filed his return of income and has
found additional information in the AIS, he can revise it on the basis of the information
shown in the AIS.
This will facilitate voluntary compliance and reduce underreporting of income by the
assessees.
Difference between AIS and Form 26AS
Presently, Form 26AS mainly depicts details of high-value transactions and TDS/TCS
transactions undertaken during the financial year.
Annual Information Statement is a way more detailed statement. It contains details of
foreign remittances, purchase and sale transactions of securities/immovable properties,
interest on deposits, savings account interest, etc. All the information is available in both
aggregate form and transaction wise.
For example, if the taxpayer has earned savings account interest of Rs. 1,400 and interest on
deposits of Rs. 35,000 from ABC bank during a particular financial year, Form 26AS will only
show details of deposit interest of Rs. 35,000, on which TDS is deducted. On the other hand,
the annual information statement will display the details of both transactions. In addition,
the assessee can also see the details of the bank account from where the income was
received, such as bank account number, bank name, account type, etc. Similarly, it will show
all other financial information of the previous year, like rent received, dividends, salary, etc.
AIS covers SFT information, payment of taxes, TDS/TCS transactions, demand or refund, and
other information. But, if the assessee has to check turnover, based on the details furnished
in Form GSTR-3B, it is visible only in Form 26AS. AIS does not display GST details.
Hence, the Annual Information Statement (AIS) is an extensive view of information for an
assessee displayed in Form 26AS with an additional facility to accept feedback from the
assessees on the information displayed in AIS.
Source:https://www.manishanilgupta.com/blog-details/annual-information-statement-extended-
version-of-from-26as