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How to Pay Payroll Liabilites in QuickBooks
 
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Payroll can get overwhelming, here's a quick video on how I recommend paying your payroll liabilities. Remember I'm not a tax professional ;) I'm an entrepreneur who specializes in QuickBooks. Join my Quarterly and Year End Forms Course and learn how to process: 941, 940, DE9, DE9C, W2's, W3, 1099-misc & 1096. Click here to join and for more details: QBO: https://canduskampfer.com/YearEndFormsQBO Desktop: https://canduskampfer.com/YearEndTaxForms Don't miss a tip, Join my Tips & Tricks: https://CandusKampfer.com/tips Candus' Free Mini Course: https://canduskampfer.com/minicourse/ Find out how to Join my QuickBooks Simplified Community: http://quickbookssimplified.com Are you new to QuickBooks or are you struggling to figure out the software? Would you love a course that is step by step vs searching for each answer and trying to figure it all out on your own? I would like to share with you my course called Confidence with QuickBooks. Everyone who has taken the course loves it. For more details visit: http://ConfidenceWithQuickBooks.com If you need help with QuickBooks, set up an appointment here: https://canduskampfer.com/private-sessions-with-candus/ Click here to be notified of upcoming Webinars & Workshops: https://canduskampfer.com/webinar-wai... Learn how to process: 941, 940, DE9, DE9C, W2's, W3, 1099-misc & 1096. Click here to join and for more details: https://canduskampfer.com/quarterly-and-year-end-forms-cou Have a great day! Candus :)
Views: 29298 Candus Kampfer
How to Calculate income Tax? | Tax calculations explained with Example by Yadnya
 
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This video has basics of Income Tax calculations with detailed example based on FY 2016-17 tax calculations - help you how to calculate Income Tax Most of us have no clue on how and what basis income tax is calculated on our income. We blindly believe on our company's Finance department or our tax consultant and do not even check the calculations. So, in this video, we have tried to simplify how Income tax is calculated on your income. Income tax assessment comprises of following stages: -Computation of total income. -Deducting valid deductions. -Determination of the tax payable thereon. -Paying the tax. -Filling Income Tax Return Form Find us on Social Media and stay connected: Facebook Page - https://www.facebook.com/InvestYadnya Facebook Group - https://goo.gl/y57Qcr Twitter - https://www.twitter.com/InvestYadnya
Income Tax Expense vs. Income Tax Payable
 
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This video shows the difference between Income Tax Expense and Income Tax Payable. Income Tax Expense represents all income taxes accrued during a period, regardless of the period in which the income taxes will be paid. Income Tax Payable generally represents the income taxes that are currently due and must be paid to the government within the next year (thus, Income Tax Payable is typically a current liability on the balance sheet). This video provides an example to show how Income Tax Expense and Income Tax Payable can differ due to a temporary tax difference. The video then uses journal entries to show how Income Tax Expense and Income Tax Payable are recorded. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like us on Facebook, visit https://www.facebook.com/Edspira Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Facebook, visit https://facebook.com/Prof.Michael.McLaughlin To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin This video was funded by a Civic Engagement Fund grant from the Gephardt Institute for Civic and Community Engagement at Washington University in St. Louis.
Views: 28763 Edspira
SHOULD ASSESSE PAY TAX LIABILITY BEFORE OR AFTER SUBMITTING TAX RETURN| COMMON TAX MISTAKES
 
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Case AQ - Should i pay tax liability before or after sending acknowledgement ? #makeknowledgefree Hi everyone, i have one query regarding ITR my employer has deducted tds and still some tax is payable now i want to fill my ITR ...but i am confused that first ITR should be filled or remaining tax has to be paid ...and do let me know how to pay remaining tax.. Solution - By Amlan Dutta This is a very common doubt and most people end up doing error ...clearly you are required to not only first pay tax using challan 280 , but also you are required to take credit of such taxes in the return itself in schedule IT ..when you do this , you will observe that tax payable liability is nil.....it is only then that you are supposed to upload the return . Let me give a example ...my total income is 10 lakhs FD interest ..bank deducts 1 lakh TDS ...now taxable liability 1.3 lakhs ...i first now pay 30,000 using challan 280 and then take credit of both TDS of 1 lakh and paid self assessment of 30000 Rs so that sum total of tax credit (tax credit on account of available TDS credit (here -non salary ) TDS of 1 lakh and paid self assessment tax of 30000 rs ) equals my total tax liability as per slabs . Many people pay the self assessment tax and then forget to take credit ...many pay tax and then wonder where to show it in TDS schedule Is what you paid any tax deduction at source .You only paid when you realised that the tax deduction at income source is not sufficient to meet tax liability So what you paid now is income tax ( which is called self assessment when paid after year ends and advance if paid before years ends in advance ) So clearly then , you will take credit of such paid taxes in Schedule IT (income tax ) and not TDS schedule for the simple reason that it is not TDS , After taking credit of all the tax tax credit for TDS and paid taxes and making tax liability nil and only now when the return shows nil tax . liability, am i supposed to upload my return ...Note if i upload return without paying 30000 or without taking credit of it in return , it is a defective return and i shall get a defective notice and shall be requested to cure it later on . If one does this mistake and realizes it before receipt of a defective notice , one can always revise it under section 139(5) However , if one does this mistake and then receives a defective notice , then one has no option but to cure it using section 139(9) filing for response to defective notice ...he can't file a revised return post receipt of a defective notice If return is not cured within time period allowed for curing defective return , then fresh belated return under section 139(4) has to be filed ! My Watsapp is 0 9 1 7 0 0 2 3 2 7 ...call up if you get stuck
Views: 1817 Make Knowledge Free
Example: Payroll Tax Liability and Expense | Intermediate Accounting | CPA Exam FAR | Chp 13
 
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Companies also report as a current liability amounts owed to employees for salaries or wages at the end of an accounting period. In addition, they often also report as current liabilities the following items related to employee compensation. 1.Payroll deductions. 2.Compensated absences. 3.Bonuses. Payroll Deductions The most common types of payroll deductions are taxes, insurance premiums, employee savings, and union dues. To the extent that a company has not remitted the amounts deducted to the proper authority at the end of the accounting period, it should recognize them as current liabilities. Social Security Taxes. Since January 1, 1937, Social Security legislation has provided federal Old Age, Survivor, and Disability Insurance (OASDI) benefits for certain individuals and their families. Funds for these payments come from taxes levied on both the employer and the employee. Employers collect the employee's share of this tax by deducting it from the employee's gross pay, and remit it to the government along with their share. The government taxes both the employer and the employee at the same rate, currently 6.2 percent based on the employee's gross pay up to a $118,500 annual limit. The OASDI tax is usually referred to as FICA (the Federal Insurance Contribution Act).
New Income Tax Calculation | Rebate | 2018-19 Explained
 
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Namaskar Dosto. Is video me hum dekhenge ki kaise aapke income tax kocalculate karna hai aur is sal ke naye income tax slab ki b bat krenge iske sath sath hum tax renate kibat krenge jaha pe bhut se logo ko confusion hai. Isme jo salary ki batki gyi hai wosare deduction ko hatane k bad ki hai jaise isme 80c jaise deductions include nhi hai . To umeed hai dosto aapko videopasand ayega Mutual fund, Banking aur Finance ke bare me aur jan ne ke lie SUBSCRIBE kijiye. Facebook: https://www.facebook.com/MARKETMAESTROO For any BUSINESS INQUIRY - [email protected]
Views: 1233294 Market Maestroo
Why Deferred Tax Liabilities Get Created in an M&A Deal
 
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Why Do Deferred Tax Liabilities Matter? They're part of any M&A deal. By http://breakingintowallstreet.com/biws/ You'll find you always see them in the purchase price allocation schedule, and they impact the combined company's taxes after the deal takes place. You see them all the time, especially for highly acquisitive companies like Oracle. They reflect the fact that there are TIMING differences between when a company records taxes on its publicly filed Income Statement and when it actually pays those taxes. Specifically, when a buyer writes up the seller's PP&E or Other Intangible Assets in a deal, the buyer depreciates or amortizes them over time... but only on the BOOK version of its statements! It can't do that on the TAX version of its statements it files when paying taxes to the government, which means that the actual amount of cash taxes it pays will be different from what's on its Income Statement. Here's the Easiest Way to Think About DTLs: Instead of thinking about the company's historical situation or its taxable income, think about its FUTURE TAXES. If future cash taxes exceed future book taxes, a DTL will be created. We need to pay ADDITIONAL taxes for items that are not truly tax-deductible. If future cash taxes are less than future book taxes, a DTA will be created. We will pay LESS in taxes than the company's book Income Statement implies. As the book and cash tax payments equalize over time, the DTL or DTA goes away. Two Most Common Questions on DTLs: "Wait a minute - why does a DTL get created immediately? Isn't it caused by the book and cash taxes being different many times historically?" Nope, not necessarily - that CAN be a cause, but DTLs/DTAs can also be created by events that change the company's FUTURE tax situation. So you need to think about how taxes will change in the future, not how they've changed in the past, to determine this. "Wait a minute, the taxable income for book purposes is LOWER than it is for tax purposes - doesn't that create a Deferred Tax ASSET (DTA) instead?" Nope. The relevant question is not how the taxable income differs, but how the FUTURE TAXES will differ. If the company will pay more in cash taxes than book taxes in the FUTURE, as a result of these write-ups, or any other changes, then a DTL gets created.
How to Pay Less Tax (Legally) - Robert Kiyosaki
 
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Robert Kiyosaki will be speaking LIVE in: South Africa: http://www.nacsouthafrica.com/tv Catch PART 1 HERE:https://www.facebook.com/srseminars/videos/1118521498191246/ Subscribe to access more great videos, or check out: www.SRPL.net ========================== One of the reasons the rich keep getting richer is because when people say “Go to school and get a job” they’re telling their kids to become employees or small business owners. How much tax do they pay? Regular employees pay about 50% in tax while self-employed people like doctors, lawyers & accountants pay 60% tax. Business Owners on the other hand pay 20% tax with investors paying 0% tax. It is absolutely possible to go around paying 0% tax. You don't have to be a crook to not pay taxes, you just have to be smart. In fact, the government wants you to pay no tax. They use taxes as incentives to get you to do what they want you to do. The reason I pay no taxes is because I have four houses I live in but five thousand houses I rent out. By me providing housing, I pay zero tax -- because that's what the government wants me to do! - Robert Kiyosaki ========================== Robert Kiyosaki will be speaking LIVE in: South Africa: http://www.nacsouthafrica.com/tv Catch PART 1 HERE:https://www.facebook.com/srseminars/videos/1118521498191246/ Subscribe to access more great videos, or check out: www.SRPL.net
Views: 118881 Success Resources
How to pay Payroll Taxes through QuickBooks
 
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Want to learn E-Pay instead: https://canduskampfer.com/epay-to-pay-payroll-taxes-in-quickbooks/ Join my Quarterly and Year End Forms Course and learn how to process: 941, 940, DE9, DE9C, W2's, W3, 1099-misc & 1096. Click here to join and for more details: QBO: https://canduskampfer.com/YearEndFormsQBO Desktop: https://canduskampfer.com/YearEndTaxForms Don't miss a tip, Join my Tips & Tricks: https://CandusKampfer.com/tips Candus' Free Mini Course: https://canduskampfer.com/minicourse/ Find out how to Join my QuickBooks Simplified Community: http://quickbookssimplified.com Are you new to QuickBooks or are you struggling to figure out the software? Would you love a course that is step by step vs searching for each answer and trying to figure it all out on your own? I would like to share with you my course called Confidence with QuickBooks. Everyone who has taken the course loves it. For more details visit: http://ConfidenceWithQuickBooks.com If you need help with QuickBooks, set up an appointment here: https://canduskampfer.com/private-sessions-with-candus/ Click here to be notified of upcoming Webinars & Workshops: https://canduskampfer.com/webinar-wai... Learn how to process: 941, 940, DE9, DE9C, W2's, W3, 1099-misc & 1096. Click here to join and for more details: https://canduskampfer.com/quarterly-and-year-end-forms-cou Have a great day! Candus :)
Views: 32765 Candus Kampfer
Tax Liabilities, Payments, and Penalties, oh my!
 
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2/14/2019 Day 45 #TaxtipThursday Tax Liabilities, Payments, and Penalties, oh my!
Finding the Tax Liability of a company that has dividend payments made to it
 
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Finding the Tax Liability of a company that has dividend payments made to it
Views: 720 Tim Liptrap
How to Pay Sales Tax in QuickBooks Desktop 2016
 
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One of the biggest things we help our clients with is paying sales tax in QuickBooks. If you don't know how or want to be sure you're doing it correctly check out this video and I'll help walk you through on QuickBooks Desktop 2016.
QuickBooks Online Plus 2017 Tutorial Paying Payroll Tax Liabilities Intuit Training
 
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FREE Course! Click: https://www.teachucomp.com/free Learn about Paying Payroll Tax Liabilities in QuickBooks Online Plus 2017 at www.teachUcomp.com. A clip from Mastering QuickBooks Online Made Easy. Get the complete tutorial for free at https://www.teachucomp.com/free - the most comprehensive QuickBooks Online tutorial available. Visit us today!
Views: 2667 TeachUComp
LEARN HOW TO SET OFF TAX LIABILITY AND GENERATE CHALLAN.
 
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Govt extends last date for filing and payment of GST by 5 days; now file your return till August 25 Input Tax Credit Set Off in GST | Section 49(5) of CGST | जी एस टी में इनपुट टैक्स क्रेडिट सेट ऑफ़ कैसे होगा ? Set off of Input credit of IGST Firstly, IGST output tax then, CGST and lastly SGST/ UTGST Set off of input credit of CGST Firstly, CGST Output tax then IGST Set off of input tax credit of SGST/ UTGST Firstly, SGST/UTGST Output tax then, IGST No CGST input credit to be set off against SGST/ UTGST Output tax or No SGST/ UTGST input credit to be set off against CGST output tax Reverse Charge Tax liability cannot be set off against any input credit, thus paid through electronic cash ledger .
Views: 49601 ACCURATE GUIDE
How to Calculate GST Tax Liability using Excel Template in a Minute
 
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In this video , we can able to learn "How to setoff the Input Tax Credit with Output Tax Liability in GST Scenario in Single Minute" using Excel Template. Click in the Below Link https://drive.google.com/open?id=0B4CLhGBhLvDYenBWNHNXZXAwRFE Visit our Website to Learn :www.excelskillcorner.com
Views: 9187 Excelskill Corner
Withholdings Not Enough To Pay Tax Liability?
 
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The IRS encourages everyone to use the Withholding Calculator to perform a quick “paycheck checkup” This is helpful for tax planning strategies (avoid penalties or tax plan for a smaller refund and more money in your pocket during the year (when you need it)). www.irs.gov/W4App If you have questions or need help with your tax planning, then please feel free to like, share, subscribe, and comment! My social media sites are: https://twitter.com/FieryAccountant https://www.instagram.com/the_fiery_accountant/ https://www.facebook.com/BrendalisSanchezCPAMBA/
Personal Tax Planning: Pay Package of Rs 18 Lakhs but Tax Liability Less than 3%
 
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#SBR_250_02_10_2018 https://youtu.be/SBXgFczr8c8 (13 Minutes) Tax Planning-Pay Package of Rs. 1800,000 Tax Liability Less than 3% Problem 317-P2 on Page No. 489-491 (Dr Singhania's Book) B Com (Hons) II year, Semester-III (Academic Year 2018-19) SEC (Optional Paper) 4 Points: Personal Tax Planning
HOW TO CREATE GST PAYMENT CHALLAN AND ADJUST TAX LIABILITY THROUGH ITC AND CASH PAYMENT
 
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GST का पेमेंट कैसे करे ऑनलाइन, GST CHALLAN कैसे GENERATE करें, GST LIABILITY को ITC से SET-OFF KAISE करना है Check-out my latest videos by clicking links below : HOW TO CREATE GST PAYMENT CHALLAN AND SET-OFF TAX LIABILITY THROUGH ITC AND CASH PAYMENT: https://youtu.be/5RhGdA_XojU HOW TO FILE TRANS 1, HOW TO FILE TRAN 1 https://youtu.be/gjPQYUDKf3M GST : GSTR 3B RETURN AND PAYMENT DATE EXTENDED, GST PAYMENT DATE EXTENDED : https://www.youtube.com/watch?v=Qpn9-1hAr1Y&t=32s HOW TO CLAIM ITC IN GSTR 3B : https://www.youtube.com/watch?v=2LMjENkXHIU&t=142s CASH LIMIT UNDER GST : https://www.youtube.com/edit?o=U&video_id=WZyc5N-R52o 0.1 GST : GSTR 3B ONLINE LIVE DEMO/HOW TO FILE NIL RETURN FOR JULY : https://youtu.be/cz4_AmFsCSY 1. GST : How to File GSTR-3B: https://www.youtube.com/watch?v=UGoLkxaG8wA&t=193s 1.1. GST : HOW TO AMEND NAME, MOBILE NUMBER, EMAIL ID, HSN IN GST REGISTRATION : https://www.youtube.com/edit?o=U&video_id=-rhPOJwyRtQ 2. GST : SET-OFF AND CARRY FORWARD OF ITC UNDER GST : https://www.youtube.com/edit?o=U&video_id=NX7EKjH09qE 2.1. GST : how to find your state ward/circle/sector and center commissionerate/division/range : https://youtu.be/3x7QZ8xFlE8 3. GST : GST : How to download final Reg. certificate with certificate analysis in Hindi https://www.youtube.com/watch?v=H_g_TjglcEU&t=53s 4. GST : How to Check your Gst Registration Status through ARN !! https://www.youtube.com/watch?v=5G9SLZ24ttM&t=9s 5. GST : HOW TO FIND DEALER TYPE - A DEALER IS A REGULAR DEALER OR COMPOSITE DEALER !! https://www.youtube.com/watch?v=NVP8x7nrSOA 6. GST : Clarification regarding cgst and sgst rate bifurcation/proportion for intra-state sale @50-50 : https://youtu.be/14kmDepaMgY 7. MS EXCEL : How to insert multiple lines in a single cell in excel using ENTER : https://www.youtube.com/watch?v=G5fggPTEFiQ&t=28s 8. INCOME-TAX : HOW TO REGISTER PAN FOR FILING INCOME TAX RETURNS (ITR), REGISTRATION UNDER INCOME TAX : https://www.youtube.com/watch?v=UIaH2yB9XOk&t=14s
Views: 27641 Ratan Sarraf
GSTR 3B Live Filing: offset liabilities pay GST and submit GSTR 3B online, GSTR 3B Offset Liability
 
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GSTR 3B Live Filing offset liabilities pay GST and submit GSTR 3B online. Many new GST users were asking me about GSTR 3B filing. In this video we live filing a GST return having Outward Supplies (IGST, CGST, SCGST), ITC, Offset Liability, Payment of GST and Submission of GSTR 3B. If you watch this completely you can easily file GSTR 3B yourself online. #gstr3B ***watch*** *** HOW TO FILE INCOME TAX RETURN (ITR 4) A.Y. 2018-19 FOR SMALL BUSINESSMAN (in hindi) | ITR 4 FILING*** https://www.youtube.com/watch?v=Qo4L9jzrAnc *** ITR 4 (SUGAM) FILE करने से पहले ये CONDITIONS जरूर जान लें | ITR 4 for FY 2017-18 and AY 2018-19*** https://www.youtube.com/watch?v=c5WLmxou5AY INCOME TAX RETURN VIDEOS: *** How to fill Housing Loan interest and principal in Income Tax Return, Housing loan details in ITR*** https://www.youtube.com/watch?v=0xIFd-jhyEU *** SALARY BREAK UP IN ITR 1 ( AY 2018 -19), HOW TO ADD SALARY DETAILS IN ITR AY 2018-19, SALARY IN ITR*** https://www.youtube.com/watch?v=vje6yoTDIDw *** how to file income tax return for interest income, FD or saving bank interest कैसे दिखाए ITR में*** https://www.youtube.com/watch?v=zEwbaBKVGPY *** HOW TO FILE INCOME TAX RETURN A.Y 2018-19 (WITH DETAILED FORM 16), Salary Details in ITR 1 2018-19 https://www.youtube.com/watch?v=qPGBvLn8KBE *** how to file income tax return for income from capital gain, How to show capital loss in ITR 2018-19 https://www.youtube.com/watch?v=e9PXuHcn488 *** HOW TO CHOOSE ITR FORM ITR1 ITR2 ITR3 ITR4 ITR5 ITR6 | New ITR form 18-19 | सही ITR FORM कैसे चुने?*** https://www.youtube.com/watch?v=na0kIFnuZ0w *** INCOME TAX RETURN FOR AY 18-19, List of document to FILE ITR, NEW ITR FILING PROCESS 2018*** https://www.youtube.com/watch?v=SoyoF3nUozg *** ऑनलाइन अपना TDS देखें और TDS निकालने की PROCESS जाने | TDS statement | How to check TDS | 26AS*** https://www.youtube.com/watch?v=Yz9XgaYECXA *** income tax return filing for FY 17-18 & AY 18-19 for pensioner or retired person | ITR1 live filing*** https://www.youtube.com/watch?v=mAy0IYYO2yE *** How to file Income tax return A.Y 2018-19 - इनकम टैक्स रिटर्न कैसे फाइल करे? New ITR1फाइल करें खुद*** https://www.youtube.com/watch?v=KRdxW80DyUo *** Income Tax slab rate for FY 2018-19 and AY 2019-20 | slab rate for FY 2018-19 | TAX RATE 18-19 | TAX*** https://www.youtube.com/watch?v=3oRHuf3z86w *** How to E-Verify Income tax return or ITR V (2018-19) to save time to send hard copy of ITR V to CPC*** https://www.youtube.com/watch?v=t7CWgvw2SY4 Visit our website: https://cagurujii.blogspot.in/ Follow Us: * Facebook Page: https://www.facebook.com/CAGuruji/ *Twitter: https://twitter.com/cagurujii *Instagram: https://www.instagram.com/caguruji/ * Website: https://cagurujii.blogspot.com/ * Our another channel *Right Info Corner: https://www.youtube.com/c/rightinfocorner ****Makeup products I usually apply for videos are: Lipstick: Sugar Cosmetics: https://amzn.to/2qK3IkU Lakme 9 to 5 : https://amzn.to/2HdcKh7 Foundation: Maybelline FIT ME: https://amzn.to/2qInXzp COMPACT: Maybelline FIT ME: https://amzn.to/2qK476V MASCARA: MAYBELLINE COLLOSAL MASCARA: https://amzn.to/2qKhDal KAJAL: MAYBELLINE COLLOSAL : https://amzn.to/2qKoi4p **Products I use for video recording: Mike for Audio recording: http://amzn.to/2xb0FVh iball Rocky with mike, headphone and speakers: http://amzn.to/2vnISYy Camera:http://amzn.to/2xbyvZY DSLR: http://amzn.to/2w1UMJB Xiaomi Redme note 4 : http://amzn.to/2g3kn14 Camera Stand: http://amzn.to/2xNB9FE Mini Tripod Universal YT-228 for Digital Camera & All Mobile Phones- Black (YT-228 Tripod) http://amzn.to/2xO1Av2 Laptops: Lenovo Ideapad 320E 80XH01GKIN 15.6-inch Laptop (6th Gen Core i3-6006U/4GB/1TB/FreeDOS/Integrated Graphics) http://amzn.to/2f1WZgQ HP HP 15 HP Notebook 15-BS549TU 2017 15.6-inch Laptop (Celeron N3060/4GB/500GB/Windows 10 Home Single Language(64 bit)/Integrated Graphics), Jet Black http://amzn.to/2xNK4XW Desktop: Lenovo 510S-08IAP 90GB000QIN 21.5-inch All-in-One Desktop (Intel Core i3 7th Gen/7100/4GB/1TB/DOS/Integrated Graphics) LED IPS Monitor: http://amzn.to/2xNepWm Please Like, Share and Subscribe #gst #gstr3b #gst3bfile #howtofilegstr3b #howtopaygst #caguruji #gstr3bfiling #gstr3bnew #gstr3blive #gstr3blatestupdates #gstr1 #gstr4
Views: 85730 CA Guru Ji
Current Liabilities Accounting (Payroll Deductions, Employee Vs Employer Payables & Expense)
 
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Accounting for payroll deductions as employee related liabilities, common types of payroll deductions are taxes, insurance premiums, employee savings & union dues etc., If a company has not remitted in the amounts deducted to the proper authority at the end of the accounting period, it should recognize them as a Current Liability, Examples of governmental types of payroll withholding taxes, (1) Social Security Taxes (FICA): Report the amount of unremitted tax on the gross wages paid as a Current Liability & as an Operating Expense, (2) Unemployment Taxes (FUTA): Record the amount of accrued but unpaid employer contributions as an Operating Expense & as a Current Liability when preparing financial statements and (3) Income Tax Withholding (Federal & State): Tax laws require employers to withhold from each employees pay the applicable income tax due on those wages, example explains that these withholdings have to be broken down between (1) employee payroll deductions and (2) employer payroll taxes where current liability payable accounts have to be setup for both employee and employer with wage expense for employee payroll deductions and payroll tax expense for employer payroll deductions, detailed accounting by Allen Mursau
Views: 34623 Allen Mursau
Estimated Tax Payments -- Small Business Tax Tip
 
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http://www.nchinc.com/ As a small business owner, you'll need to make estimated tax payments during the year to cover your federal income tax liability, unless you expect to owe less than $1,000. Generally, estimated taxes are due in four quarterly installments, due by April 15th, June 15th, September 15th, and January 15th. Keep in mind even though estimated taxes are often referred to as quarterly payments, the deadlines are not three months apart from each other. You can either mail in payment or pay electronically. Just remember to keep track of your estimated tax payments, and save the information for your records and next year's taxes. For more information on small business taxes, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
GSTR 3B : GSTR-3B Nil Filing with Late fees, Payment and Offset liability.
 
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How to file nil gstr 3b with Late fee? Late fees payment and Offset liability in GST. In this video, we know nil gstr 3b return filing with Late fee payment. Same procedure apply to gstr 3b december, gstr 3b january, gstr 3b february and gstr 3b march. Steps are explained for gstr 3b in hindi. Kno how to create challan in gst, payment in gst and late fee payment in gstr 3b. Join and know about gst return and income tax returns. LIKE and SUBSCRIBE If you like the video, please LIKE and SHARE it with your friends on social sites. Subscribe to this channel so that you do not miss out on the new videos on this series. Connect with eLearningGang Subscribe on Youtube : https://youtube.com/eLearningGang Important Playlist 1) See all Videos of MS Excel Tutorial in Hindi : https://www.youtube.com/playlist?list=PL36dLwVaM1GczZWwmyUT4B_cnBqkVhmFg 2) See All Videos of MS Excel Shortcuts Keys and Excel Tips & Tricks : https://www.youtube.com/playlist?list=PL36dLwVaM1Gd4lO237dQkd1hFcHFTKvPA 3) See all Videos of Income Tax Return Tutorial: https://www.youtube.com/playlist?list=PL36dLwVaM1GdR4O5LCdcotgMHVDkFbyTo 4) See all Videos of GST in Hindi : https://www.youtube.com/playlist?list=PL36dLwVaM1GdwfmQVS8P2OaYk-Vr60Vjl 5) See all Videos of Tally ERP9 for beginner: https://www.youtube.com/playlist?list=PL36dLwVaM1Gf36jltbdQVkMLY9XRMlxBC Copyright Notice: This video may not be downloaded or distributed in any way without permission from eLearningGang. Contact us if you have such a need.
Views: 106088 eLearningGang
QuickBooks Pro 2016 Tutorial Paying Payroll Tax Liabilities Intuit Training
 
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FREE Course! Click: https://www.teachucomp.com/free Learn about Paying Payroll Tax Liabilities in QuickBooks Pro 2016 at www.teachUcomp.com. A clip from Mastering QuickBooks Made Easy. Get the complete tutorial for free at http://www.teachucomp.com/free - the most comprehensive QuickBooks tutorial available. Visit us today!
Views: 11767 TeachUComp
How Do I Pay Myself in a Single-Member LLC? - All Up In Yo' Business
 
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Learn more about 180 Law Co. LLC by visiting http://180lawco.com. One question that I get asked quite often, because it’s a really good question, is how the owner of a single-member LLC is supposed to pay him/herself. There are two possible answers to this question, depending on how the LLC is taxed. Unless the LLC elects otherwise, a single-member LLC is considered a “disregarded entity” and all of the income to the LLC is treated as income to the business owner, and is all subject to self-employment tax. So basically, the owner of a single-member LLC can pay himself however and whenever he wants, keeping in mind a few important considerations: 1. Make sure you are prepared to pay taxes. Since the LLC is a disregarded entity, if the business earns $100k but you only “pay” yourself $50k, you are still going to be responsible for paying all of the taxes, including self-employment taxes, on the full $100k. (For simplicity’s sake, I am pretending there are no deductions or anything.) So you need to set aside enough money to make sure you can cover your taxes. 2. The business has to remain adequately capitalized. This means that you need to keep enough money in the business to cover all your overhead, debts, bills, salary for employees, etc. You should also leave some extra “padding” for possibly building up your business, purchasing equipment, and whatever else you may decide to do with your business. In the books, any payments to yourself should be recorded as “Member Distribution” or “Member Withdrawal.” If the LLC elects to be taxed as an S Corporation, on the other hand, you have to be paid a “reasonable” salary. Self-employment taxes will only be paid on that salary rather than on the full amount of profit the business earns. Any money that the business owner takes above that reasonable salary is considered a dividend and won’t be subject to self-employment taxes. To learn more about S Corporations, watch my earlier video What the Heck is an S Corporation at http://youtu.be/i5to7Da3wMw?list=UUNh7tqEn68tf0oOfq4NsFsg If your LLC is not taxed as an S Corp, you don’t need to put yourself on payroll, since those member distributions aren’t treated as normal payroll. If your LLC is taxed as an S Corp, then the salary you earn can be part of your payroll, and any additional dividends will be separate from that. Whether or not you elect to have your LLC taxed as an S Corp and how to handle and record the money that you pay yourself is an important conversation that should be had with your accountant, bookkeeper, & attorney. Doing it the “right” way can help minimize your tax liability and can make your life (and that of your accountant) much easier come tax time. Contact Aiden and learn more at www.180lawco.com. [email protected] | 720-379-3425 Thumbs up & subscribe if you want more AUIYB! Follow Me! IG: @allupinyobusiness Twitter: @_AllUpInYoBiz www.facebook.com/180lawco www.google.com/+aidenkramerlawAUIYB www.pinterest.com/AUIYB The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by 180 Law Co. LLC, with its principal office located at 50 S. Steele Street, Suite 250, Denver, CO 80209. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship 180 Law Co. LLC or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. All Up In Yo’ Business® is a registered trademark of 180 Law Co. LLC. ©180 Law Co. LLC. All rights reserved.
Views: 394962 180 Law Co. LLC
ADVANCE TAX: Liability to Pay, Online Payment; Interest for Default
 
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Payment of Advance Tax (by Whom) Due Dates of Advance Tax (4 Instalments) Interest under Section 234C; 234B & 234A Filing of Return before / After Due Date Online Payment of Tax: Advance or Self-Assessment
Liability to pay in certain cases - Chapter 16 of CGST Act
 
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Covering Sections 85 to 94, the topics revolve around various situations and whose liability it will be to pay the dues of GST in those cases. To download the Powerpoint Presentations (PPT), go to the relevant section on - http://gstination.com/the-gst-academy . Check out our recently published book on GST - http://gstination.com/books/the-simplified-indian-gst-law/
Views: 2968 GSTiNATION
QuickBooks Pro 2018 Tutorial Paying Payroll Tax Liabilities Intuit Training
 
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FREE Course! Click: https://www.teachucomp.com/free Learn about Paying Payroll Tax Liabilities in QuickBooks Pro 2018 at www.teachUcomp.com. A clip from Mastering QuickBooks Made Easy. Get the complete tutorial for free at https://www.teachucomp.com/free - the most comprehensive QuickBooks tutorial available. Visit us today!
Views: 818 TeachUComp
GST : Liability in Special Cases : Goods & Services Tax
 
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Views: 3735 CA dilip badlani
Liability of Advance Tax Payment, Interest @ 1% p.m. under section 234C
 
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#SBR_066_09_06_18 https://youtu.be/4OGbRzP2yXU (24 Minutes) Instalment Last Date First.... 15-Jun- .....15% Second... 15-Sep-...45% Third... 15-Dec...75% Fourth.. 15-Mar-100% CALCULATION OF INTT. UNDER SECTIONS 234C TOTAL TAX LIABILITY INCL. EDU CESS LESS : TDS BY EMPLOYER, BANK LIABiLITY FOR ADVANCE TAX ONLY IF AMOUNT EXCEEDS Rs. 10000 CALCULATION OF INTT. UNDER SECTIONS 234B LIABLITY FOR ADVANCE TAX LESS : ADVANCE TAX PAID LIABILITY FOR SHORTFALL CALCULATION OF INTT. UNDER SECTIONS 234A TOTAL TAX LIABILITY INCL. EDU CESS LESS : TDS BY EMPLOYER, BANK LIABILITY FOR DELAY IN FILING RETURN
Learn how to Offset GST Liability in GSTR 3B
 
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Latest Class of GSTR 3B - Uploaded in November 2018 : https://www.youtube.com/watch?v=ExXNXRXNB6E Visit us : https://www.onlinecca.com/
Views: 118919 Amar Jeet Singh
"Service Tax liability : Due dates and mode of payment"
 
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Service Tax liability - Due dates of payment of service Tax - Mode of payment of service tax - Requirement & procedure of online payment of service tax -~-~~-~~~-~~-~- Please watch: ""Small Taxpayers and Small and medium enterprises SME's under GST"" https://www.youtube.com/watch?v=Vebq51tXF7g -~-~~-~~~-~~-~-
Views: 1554 TLDC
Deferred Tax Assets and Liabilities
 
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Deferred tax assets vs Deferred tax liabilities For free complete access to chapter & entire accounts syllabus : visit www.tutorlive.in & get free Notes , sample paper
Views: 17164 tutorlive 9 to12
GST Payment, Challan Creation, E-payment, E-Cash Register, E-Credit Register
 
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Watch Live Screen of GST Online Payment. Learn how to create GST Challan, Also know about GST E-Cash Register, Credit Register, Liability Register.
Views: 112534 Amar Jeet Singh
Taxation of an LLC
 
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An LLC can choose how to be taxed based on what will be best for the company's bottom line. This choice needs to be made shortly (immediately) after you set up your LLC. Read more at http://www.legalees.com/llc-tax-election/
Views: 73005 LegaLees
GSTR-3B - Why showing late-fee liability even after payment? How to Offset Late fees With Example?
 
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Have you paid late-fee penalty and still unable to file returns. Showing this message: "You have late-fee liability for current tax period or carry forward late-fee liability for previous tax period, arising due to delayed filing of GSTR-3B." How to do payment offset? Watch this video for solutions https://youtu.be/GO5AeNsa-K4 How to file nil return in gstr 3b with Late fee? How to do Late fees payment and Offset liability in GST. How to offset Late fees payment in GST ✓ High Res. Thumbnail ✗ Info Cards Added ✗ End Screen Added ✗ Shared on Twitter ✓ Liked on Facebook ✗ Captions Added ✗ Comment Pinned ✓ Comment Hearted TAGS techshakya tec shakya 15 tek sakye late filing penalties can i file returns for previous years? gstr 3b return 15 gstr 3b nil return gstr 3b nil return filing in hindi gstr 3b late fee 2 gstr 3b 20 gstr 3b return filing online 16 gstr 3b and gstr 3 gstr 3b after due date 4 gstr 3b correction gstr 3b due date 8 gstr 3b date 6 gstr 3b error gstr 3b filing 19 gstr 3b filing error gstr 3b guide gstr 3b help 13 gstr 3b in busy gstr Copy To... X = Where this video ranks in YouTube Search Results (* For You) Up next AUTOPLAY 14:07 Gstr 3b nil Return with late fee demo | New GSTR 3b format eLearningGang 13K views GSTR-3B filing made simple Tally for GST 91K views Ad 18:44 New GSTR3B Return Filling Online, New GSTR-3B Return Filling Process , GSTR3B Liability Offset GST by Saurav Dutta 17K views 5:27 HOW TO CANCEL/SURRENDER GST NUMBER FULL PROCEDURE IN HINDI -GST CANCELLATION PROCESS Extra Tech World 21K views 12:21 GSTR 3B : GSTR-3B Nil Filing with Late fees, Payment and Offset liability. eLearningGang 26K views 1:18:59 Basic Concepts of Income Tax CA. Ranjeet Kunwar 159K views 14:30 GSTR 3B COMPLETE GUIDE LITTLE CLOWN 78K views 10:02 Tax saving tips new 2018 | preventive health check up u/s 80D | Deduction u/s 80D | 80D new changes CA Guru Ji 3.4K views New 4:41 File GSTR 3B in easy steps. ConsultEase 53K views 6:15 how to file GSTR 3B with Late Fees and Offset Liability Amit Bhadra & Co, 6.1K views GSTR3B direct upload from tally erp 9 release 6.3 (in json format) RTS professional studies 31K views GSTR 2 Return, Prepare Online & Reconciliation with GSTR 2 A Amar Jeet Singh 477K views GST धमाका !! GSTR 3B RETURN COMPLETELY CHANGED !!! LIVE DEMO!!! ALL ABOUT TAXES 6.8K views LIVE DEMO GSTR-4 Q4 Jan'18 Mar'18 COMPOSITION DEALER’s Quarterly RETURN | V2.1 | CA DIVYANSHU SENGAR CA DIVYANSHU SENGAR 30K views HOW TO CHANGE PRIMERY CONTACT DETAILS ON GST PORTAL Amit Shah 304 views GST-| New Changes In GSTR-3B 21 FEB 2018 | Most Information Related To File GSTR-3B | Online Seva 52K views How And Where To Fill Reverse Charges Documents Entry Or Details In GSTR1 Virat Infotech 1.9K views GST : What is Debit Note & Credit Note , How & where to fill Debit/Credit Notes in GSTR-1, 2, 3B Ratan Sarraf 46K views GSTR-3B late fee of August in September. Trick to Solve(may work) Do U know 17K views Filing of GSTR 3B Return, Generate GST Challan & Online Payment - Live GSTIN. Amar Jeet Singh 1.1M views GST-| New Changes In GSTR-3B 21 feb 2018 | Most Information Related To File GSTR-3B | CONSULT KiNG 37K views GSTR-3B : Late Fee Payment , Return Filing
Views: 4711 Adpro Tech
Part-1 कैसा होगा GST Portal पर आपका Account (Electronic Tax Liability Register) By CA Mohit Goyal
 
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Part-1 - https://youtu.be/G9OXUjtwAGA Part-2- https://youtu.be/THmkq-olOxY Part-3- https://youtu.be/p2OPwXFnRbk E way Bill GST- https://youtu.be/-38jny4iIs4 Job Work under GST- Current Video Link - https://youtu.be/l4BL2fMZOKM Payment Methods GST- https://youtu.be/sfqOF-j-luk Download Link -https://drive.google.com/open?id=0B25CnEGGlk_jZjM3T0pDbWhkNG8 tipsntricksguru present : Payment of taxes under GST 2017 Latest Forms,Procedures , how to fill GST PMT 1,Electronic Tax Liability Register, By CA Mohit Goyal In Hindi and English please watch full video for understanding the concepts ,unique identification number ,Tax payment ,limits, Procedure ,interest, penalty, late fee for more latest updates Subscribe the channel you can also follow us :- Website - http://tipsntricksguru.com/ YouTube - https://www.youtube.com/c/tipsntricks... Facebook -https://www.facebook.com/tipsntricksguru Twitter - https://twitter.com/tipsntricksguru
Views: 7699 tipsntricksguru
How To Create GST Challan &  Payment of Tax Liability LIVE DEMO In Hindi
 
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This is a LIVE Demo for GST Challan Creation & Payment of Tax via GST Portal by vky malik. This demo on GST Challan Creation & Payment of Tax is in Hindi language. What is Cash Ledger and Credit Ledger and how to use How to Create GST Payment Challan? To make GST payment, GST payment challan must first be generated from the GST portal. Once the payment challan is generated, payment can be made by internet banking, credit/debit card, NEFT or cash payment at designated banks. In this article, we look at the procedure for creating GST payment challan and making GST payment. GST Payments Modes GST payments can be made through the following modes: 1. Internet Banking through authorised banks; 2. Credit card or Debit card through the authorised bank; 3. National Electronic Fund Transfer or Real Time Gross Settlement from any bank; or 4. Over the Counter payment through authorised banks for deposits up to ten thousand rupees per challan per tax period, by cash, cheque or demand draft. Discription This video is merely a general guide meant for learning purposes only. All the instructions, references, content or documents are for educational purposes only and do not constitute a legal advice. We do not accept any liabilities whatsoever for any losses caused directly or indirectly by the use/reliance of any information contained in this video or for any conclusion of the information. Prior to acting upon this video, you're suggested to seek the advice of your financial, legal, tax or professional advisors as to the risks involved may be obtained and necessary due diligence, etc may be done at your end. Download GSTR 4 Offline Utility https://tutorial.gst.gov.in/offlineutilities/returns/GSTR_4_Offline_Utility.zip How to Registration a new GST Number https://youtu.be/XqG3TF1kg1A How to File GSTR 3B Return Online Line Demo https://youtu.be/mPKaHoq4ruQ How to File GSTR 4 Return Live Demo https://youtu.be/21lk2rbuBFA HOW TO OPT COMPOSITION SCHEME LIVE DEMO https://youtu.be/bVtPdjT23Is HOW TO WITHDRAWAL COMPOSITION SCHEME https://youtu.be/LOvMz4rKnio
Views: 174 Vky Malik
Advance Tax - How to Calculate and Penalties involved on missing deadline
 
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As the name suggests, Advance Tax is part payment of your income tax liability in advance. So instead of paying everything at the end of the year, you pay it 3 times in a year in parts. The concept of Advance tax exists because govt wants you to pay income tax as you earn month after month and not at the end of the year. Advance tax is to be paid when your annual tax liability exceeds Rs 10,000 overall . However important point is that Advance tax is applicable on your Income from sources other than your Salary like 1. Interest on Fixed deposits or Savings bank deposits exceeding Rs. 10,000/- 2. Rental income on House Property/properties 3. Capital Gains on sale of Mutual Funds or Shares 4. Income from any other sources not mentioned as above. Which means that if you are a salaried employee who does not have any other income source and if your employer deducts TDS regularly , then Advance Tax is not applicable in your case. You dont need to worry about it. You have to pay advance tax 3 times in a year, which is 15th Sept , 15th Dec and 15th Mar and you should be paying not less than 30% , 60% and 100% of your income tax liability before these dates. Below picture makes it clear for you. Which means that if your income tax liability for a year is Rs 1,00,000 , then you should pay advance tax of Rs 30,000 by 15th Sept, another Rs 30,000 by 15th Dec and rest Rs 40,000 by the end of 15th Mar What if I don’t pay Advance Tax on time ? If Advance Tax is applicable in your case, then you should be paying it on time, but if you don’t pay it on time, then you can pay it on the next due date along with the interest. So those who have not paid the first installment (i.e. September 15) of Advance Tax (if applicable to you), then you can pay it together with second installment (on of before 15th Dec), but with interest on the first instalment for deferment of the same by three month and if you are not paying it even on Dec 15th , then you can pay it by the end of the year along with the interest. You will be charged with penalty under Sec 234B and 234C incase you don’t pay your advance tax on time. Let me quickly share what is sec 234C and sec 234B Understanding Penalty under Section 234C Lets first understand sec 234C. Under this section, if you don’t pay your installments of advance tax on time, then you are charged 1% of simple interest for next 3 months on the amount of shortfall. So this is the penalty to be paid because of DELAY! Understanding Penalty under Section 234B If your total advance tax paid by last due date (15th Mar) is less than 90% of your advance tax liability, then you will have to pay 1% interest on the balance amount each month until you complete the payment. which means that suppose your income tax liability is Rs 1,00,000 in total and if you have not paid anything upto 15th Mar, then you will be charged 1% on the outstanding balance (Rs 1 lac in this case) each month, unless you pay it, so if you pay in June , then you will be charged for 3 months penalty and it would be Rs 3,000 in total other than penalty under sec 234C. Lets understand sec 234B and 234C with help of case studies. Lets assume that your total Income Tax payment for the year would be Rs 50,000, then as per rules of Advance tax, you should be paying - Rs 15,000 by 15th Sept - Another Rs 15,000 by 15th Dec - And Rest 20,000 by 15th Mar Now imagine you don’t pay any advance tax , then how much penalty you will pay under sec 234B and 234C under various situations ? Below I have explained 4 situations where you pay your full income tax on different dates. Check out how much penalty you will have to pay under these situations ! More at http://www.jagoinvestor.com/2014/12/advance-tax-and-penalty.html
Views: 12930 jagoinvestor
Tax Hacks - Know the Penalty for Delay in Advance Tax Payment | Explained in हिंदी
 
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Failed to pay advance tax in time? Watch why you should pay advance tax if your tax liability is going to be more than ₹10,000 in any financial year. Tax Hack - It is advisable to pay your income tax in advance as failure to pay advance tax results in a penalty of 1% interest per month on the tax dues. If you found this video useful then don't forget to subscribe to our channel. SMS TAXHACKS to 56767 or visit our website: https://life.futuregenerali.in/ to know more about tax saving options.
How To Pay Less Tax
 
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Did you know: While you can’t evade tax, there are some ways you can lessen your income tax liability? For example: Donations! This is a great way to donate to a good cause, while also reducing your tax bill. How about supporting a worthy cause like The Love Trust? Watch our video to learn more.
Views: 37 Love Trust SA
Can I set up a payment plan to pay my tax liability?
 
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Since 1971, Robert Hall & Associates has built a reputable track record helping individuals and businesses of all sizes with day to day accounting and tax issues. We provide personalized service and expert tax advice. We can identify a number of money saving deductions for your business or individual income tax return. Our mission is to provide clients with creative and innovative, yet practical solutions that improves profitability, anticipates needs and exceeds expectations, enabling them to continue their success. Our goal is to become intimately aware of all aspects of a client's business. For more information, visit our website at www.RobertHallTaxes.com or call us at 818.242.4888. Find us on Facebook at www.facebook.com/RHATaxConsultants
Views: 121 RobertHallTaxes
Filing of GSTR 3B Return, Generate GST Challan & Online Payment - Live GSTIN.
 
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Latest Class of GSTR 3B - Uploaded in November 2018 : https://www.youtube.com/watch?v=ExXNXRXNB6E Visit us : https://www.onlinecca.com/
Views: 1801550 Amar Jeet Singh