In exercise of the powers conferred by section 34 of the Karnataka Tax on Professions, Trades, Callings and Employments Act, 1976, the Government of Karnataka, hereby makes the following Order, to remove the difficulties, namely:-

1. Short title

This Order may be called the Karnataka Tax on Professions, Trades, Callings, and Employments (Removal of Difficulties) Order, 2021.

2. For the removal of difficulties, the following are that,-

• in section 6-A of the said Act, in sub-section (1), after the proviso, the following proviso shall be inserted, namely:-

  • “Provided also that for the month of April 2021, the statement shall be submitted on or before 20’s day of June 2021.”

• In section 10 of the said Act, in sub-section (2), the following provision shall be inserted, namely:-

  • “Provided that for the financial year 2021-22, in respect of a Person who stands enrolled before the commencement of the said year, the payment of the amount of tax due shall be paid before the 30th day of May 2021.” (Instead of 30th April 2021)

Summary of Extended Due date- Karnataka Professional Tax

The Actual due date for April 2021 - 20th May 2021

Extended due date for April 2021- 20th June 2021

The Actual due date for the Annual PT payment - 30th April 2021

Extended Due date for the Annual PT Payment - 30th May 2021

Regards,
CA Jeevan Reddy

Jeevan G & Co.,
Chartered Accountants

9113223506

www.letstalktaxes.in

The CBIC vide Notification No. 07/2021–Central Tax, dated April 27, 2021, issued the ‘Central Goods and Services Tax (Second Amendment) Rules, 2021’ to further amend Rule 26 of the Central Goods and Services Tax Rules, 2017 (“ CGST Rules” ) that deals with the method of authentication of documents or application

This is a great opportunity for people to rectify their previous mistakes by filing their new returns or revising their original returns who had earlier received messages/ Notices from the Income-tax department like
1) The Income Tax Department had identified high-value information which does not appear to be in line with income tax returns filed.

2) Signification transactions not reported.

3) Demand Notice received for incorrect/ miss reporting.

4) Income Tax Returns not filed.

And for people who had not filed their returns can do the filing by paying late fees. The Amount of Late Fees depends upon the Income, which may vary based on Taxable Income from Rs. 1,0000 to 10,000.

For the benefit of Income-tax filers,

We had discussed in our previous article about Under-reporting of income & penalties under the income-tax act on receiving such messages from the income tax department.

To understand the advantages of filing Income Tax Returns refer article- Why should you file your Income-tax return.

Hurry up! Just 30 Days! left.

If you have not filed returns, File the return now.

If you have under-reported/ Mis-Reported, Correct it now.

If you have failed to claim a refund, Claim it now.

Could not declare investment with the employer? , declare now while filing returns.

Knowledge has no value unless you use & Share it.

Regards,
CA Jeevan Reddy

9113223506

As the country is suffering from the COVID-19 pandemic, the CBIC has granted great relief to the taxpayers by extending the deadlines to file various GST returns.

1. >No late fees for filing GSTR-3B of March/April'21 up to 15 days for a taxpayer with a turnover of more than 5 crores

>No late fees for filing GSTR-3B of March/April'21 up to 30 days from the original due date for a taxpayer with up to 5 crores respectively.

>For the quarter ending 31st March, no late fees if GSTR-3B is filed within 30 days from the original due date.

2. GSTR-1 due date for April 2021 extended to 26th May and IFF due date extended to 28th May

3. GSTR-4 due date extended to 31st May

4. Timeline for all other proceedings, asset order etc. Where the last date of completion falls between 15th April to 30th May is extended to 31st May.

Take the benefit, avoid coming out of the home.

Knowledge has no value unless you use & Share it

Regards,

CA Jeevan Reddy

9113223506