Sunil Bhave

GST Accounting Entries for Intra state Transactions (i.e. within the State) Mr. A purchased goods Rs. 2,00,000 locally (intrastate). He sold them for Rs. 3,00,000 in the same state. He […]

Returns Under GST Detail of 27 returns prescribed under Goods and Services Tax (GST).  Under the GST law, a  tax payer will be required to furnish 3 returns monthly and […]

Penalties under Income Tax Act 1961

Income Tax : Penalties 1. Penalty under Section 270A (Penalty for under reporting and misreporting of income): If during the assessment proceedings, it is found that an assessee have under […]