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Belated filing of returns under Tamil Nadu Value Added Tax Act 2006 will attract interest at the rate of two per cent per month in addition to the tax amount due for the entire period of default with effect from 29.5.2013 and prior to 29.5.2013 at the rate of one and a quarter per cent under Section 42 of the TNVAT Act, 2006.
Reply from:
ABHIVIRTHI Tax and Industrial Consultancy
R.R.JAGADEESAN
VAT PRACTITIONER AND INDUSTRIAL CONSULTANT
H-63, PALAAMI ENCLAVE
NEW NATHAM ROAD
MADURAI-625 014
CELL. 9994990599
What else can I help you with?
How is accrued interest income treated on your tax return?
Accrued interest paid on a bond bought between interest payment dates is shown on Form 1099-INT (Interest Income). Include the amount of interest in Part I (Interest) line 1 (List name of payer) of Schedule B (Interest and Ordinary Dividends). Under your last entry, subtotal all the interest listed, write 'Accrued Interest' with the amount paid to the seller. That amount isn't taxable to you. Subtract it from the subtotal and enter the result on line 2 and also on line 8a of Form 1040. For more information, go to www.irs.gov/formspubs for Publication 550 (Investment Income and Expenses).
What is the amount where you don't pay federal taxes?
The amount where you don't pay federal taxes will depend on how you're filling. If you're self-employed, the minium is $400. However, if you're single and under 65, then the minimum is $9,750. There are different amounts for different statuses.
What is the penalty for late filing of returns under mvat vat act?
Under the Maharashtra Value Added Tax (MVAT) Act, the penalty for late filing of returns is typically a fine of up to Rs. 5,000, depending on the circumstances and duration of the delay. Additionally, interest may be charged on the outstanding tax due for the period of delay. It's important to note that repeated late filings can lead to increased penalties and legal consequences. Always consult the latest regulations or a tax professional for specific situations.
Will export oriented units continue to file quarterly returns after goods and service tax?
Yes, export-oriented units (EOUs) will continue to file quarterly returns after the implementation of the Goods and Services Tax (GST). Under the GST framework, EOUs are required to comply with the same filing obligations as other businesses, which includes submitting returns periodically. However, they may benefit from specific provisions and exemptions related to exports. Overall, while the frequency of filing remains, the nature of the returns may change under GST regulations.
Interest payable found on the balance sheet?
Interest payable is liability for business that's why shown under liability side of balance sheet of business.
Do you have to report interest under 10 on your taxes?
Yes, you are required to report all interest income, regardless of the amount, on your taxes.
Do I need to report interest under 10 on my taxes?
Yes, you are required to report all interest income, regardless of the amount, on your taxes.
Do you have to report interest income under 10 on your taxes?
Yes, you are required to report all interest income, regardless of the amount, on your taxes.
When must insurable interest exist in life insurance?
The interest must exist at the time the policy is taken out. Where the insurable interest is created under categories 2, 3 and 4 above, the amount that can be insured is limited to the amount of interest the policyholder has in the life insured
Do I have to enter interest income under 10 on my tax return?
Yes, you are required to report all interest income, regardless of the amount, on your tax return.
Do you need to report interest income under 10 on your taxes?
Yes, you generally need to report all interest income, regardless of the amount, on your taxes.
Does long term debt and short term portion of long term debt include interest?
No. Only the current amount of interest due and/or accrued is shown as Interest Payable under Current Liabilities.
How is accrued interest income treated on your tax return?
Accrued interest paid on a bond bought between interest payment dates is shown on Form 1099-INT (Interest Income). Include the amount of interest in Part I (Interest) line 1 (List name of payer) of Schedule B (Interest and Ordinary Dividends). Under your last entry, subtotal all the interest listed, write 'Accrued Interest' with the amount paid to the seller. That amount isn't taxable to you. Subtract it from the subtotal and enter the result on line 2 and also on line 8a of Form 1040. For more information, go to www.irs.gov/formspubs for Publication 550 (Investment Income and Expenses).
Oem carburetor keeps filling up and overflowing filling up the engine with fuel?
float valve most likely has some grit under it or the float is bad or out of adjustment this part of the carburetor regulates the amount of fuel into the bowl from the fuel pump ASE certified master tech / L1
What is the amount where you don't pay federal taxes?
The amount where you don't pay federal taxes will depend on how you're filling. If you're self-employed, the minium is $400. However, if you're single and under 65, then the minimum is $9,750. There are different amounts for different statuses.
If a dog were filling out a resume he might list his mastery of thus game under skills?
If a dog were filling out a resume he might list his mastery of the game fetch under skill. The required answer was: Fetch. Thankx
If you owe 6000 on a car and u pay 6000 in under a year will you avoid the apr?
No, your interest rate usually starts from the date you sign the loan agreement and drive the car off the lot. Each month your payment consists of two parts: the principal and the amount of interest accrued for that month. For example: your loan amount is 6,000.00 Interest rate is 6% Amortized for 1 year Your 1st installment is 507.53 (Principal 493.68 Interest 13.85)
