Showing posts from April, 2018

10 Things you Must Know before Renting an Apartment

Nimmadhi Offers some Easy steps:

1. Set a budget. 2. Where to search? 3. What to search for? 4. The renter’s resume. 5. What’s included? 6. Read before you sign 7. Contract issues 8. What to look for 9. Know your landlord 10. Get your deal

1. Set a budget. Consider how much you can afford to pay and follow the “rule” not to exceed 30-percent of your monthly income. Focus your search according to your budget and though you may be forced to compromise when finding a bigger apartment in a better area, make sure it’s worth spending the extra money. If you’re looking for a cheaper place to rent, try roommate services to share an apartment, but make sure you know what types of people or habits you’d prefer to avoid. 2. Where to search? Not going to use a broker’s services because of the extra cost the next thing is to look in the newspaper classifieds, apartment hunter publications, college campus bulletin boards or on the Internet. You’ll know the rental market much better and will probably get yourself…

“Congratulations! Mr.Akash for getting a Rental flat without brokerage from Nimmadhi Property services”.


New ITR forms make it difficult to evade tax on HRA: Here's why

The new income tax return (ITR) form-2 requires tax payers to give their tenant's PAN while providing details of income from house property. This detail was optional till the last financial year. 

This reflects the Government's increased focus on combating tax evasion and ensuring that more and more tax payers honestly file their tax returns. Driven by the desire for greater efficiency and improved compliance, the Revenue Authorities are increasingly relying on digital tax data gathering and analysis of the same, to assess taxpayers. The Government's focus on e-assessments is another endeavour to use information technology to effectively assess tax returns and plug tax avoidance. 

The new tax return forms for Financial Year (FY) 2017-18, which were released on 3 April 2018, attempt to digitally collect as much information as possible, to process the tax returns efficiently. 

Here are some of the changes in the new ITR forms and their impact on salaried taxpayers: 

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What is eWay Bill? E way Bill Rules & Generation Process

Under GST, transporters should carry an eWay Bill when moving goods from one place to another when certain conditions are satisfied. In this article, we cover the following topics: What is an Eway Bill?When to Generate?Who should Generate?Cases when eWay bill is Not RequiredStatus of Implementation across IndiaHow to generate eWay BillValidity of eWay BillDocuments required1. What is an eWay Bill? EWay Bill is an electronic way bill for movement of goods which can be generated on the eWay Bill Portal. Transport of goods of more than Rs. 50,000 (Single Invoice/bill/delivery challan) in value in a vehicle cannot be made by a registered person without an eway bill.