What Does 86 cash Mean?
What Does 86 cash Mean?
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1 lakh as earnings tax. This volume ought to have been paid out in Each and every of The 2 previous monetary many years for which the cut-off date to file return of income underneath subsection segment 139(1) from the reported Act has expired.
Ans. It's been Obviously presented the limit is for refund received in the course of the previous fiscal yr regardless of the period for which the refund were claimed.
A U.S. postal inspector alleged in courtroom papers that Michael Poliak, an proprietor of the organization, has admitted to creating income from healthcare fraud and illegal marijuana product sales. Poliak could not be arrived at for comment.
Alternatively, In the event the turnover is fewer than Rs. six crores within a economical year although the taxable supplies for just about any thirty day period exceeds Rs. 50 lakhs, then Rule 86B stands captivated.
♦ This proviso presents energy towards the commissioner or the officer authorised by him In this particular behalf to eliminate
Applicability: This rule is applicable to registered persons acquiring taxable value of source (apart from exempt provide and zero-rated source) in a month which happens to be in excess of Rs.50 lakh. The Restrict must be checked each month just before submitting Each individual return.
Ans. One does not must cumulatively calculate the taxable provides by merging values of the earlier thirty day period. One particular needs to only locate the taxable provides of the current month to ascertain if it exceeds Rs. fifty lakhs. If Certainly, one particular really should comply with this provision.
Broaden your request to INCLUDE more money choices that concentrate on consolidating unsecured financial debt.
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I did not utilize rule 86B in a particular thirty day period. Would there be a penalty, curiosity or reversal of ITC in subsequent month?
Purchasing alternative belongings involves larger dangers than common investments and is particularly suitable only for stylish traders. Different investments are sometimes offered by prospectus that discloses all risks, service fees, and expenses. They don't seem to be tax efficient and an investor really should check with together with his/her tax advisor prior to investing.
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Constantly select the Thai baht solution as exchange costs are very poor if you select to pay in your house currency. If you intend on using a debit card Be sure that your bank in your house state has licensed your card for use in Thailand.
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