For example, if a 2% prepayment fee is imposed on a personal loan amount of ₹50,000 by your lender, the fee of the prepayment would be ₹1,000, and the total payable amount would be ₹1,180, including an 18% GST. No GST on Interest Rates When determining a lender, the inte...
Please note that you are required to pay full tax amount before completing any forms for interest and penalty waivers. For the latest news, please visit www.gst.gov.in. The Engineering Export Promotion Council (EEPC) has proposed the introduction of a faceless GST audit system. This ...
The bank took possession of the building in the year it was completed and the lessor claimed deductions on depreciation, interest on construction loan, expenses related to sale and lease back and accrued the rent from the bank. The Commissioner of Internal Revenue denied the claims of the ...
Scammers use Google and Facebook’s ad platforms to run fake ads for loan apps and lure customers into disastrous experiences. As per a MediaNama analysis, these digital lending apps use photos of famous media personalities, trusted bank logos, and misleading interest rates in the advertisements...
Home buyer can get additional tax deduction up to Rs 50000 on interest on loan taken for residential House rent Allowance or HRA Exemption U/S 10 (13A) House rent allowance granted by an employer to his employee is tax exempted to the extent provided ...
What is the effect of demonetization on bank loan interest rates? Does frequently checking a CIBIL score affect it adversely? I have an unsecuritized line of credit for $50,000 at 8.50%. How can I use this to make money? What is the GST on commission charged by e-commerce companies lik...
Published by Sourabh Kumar (Ex-Employee) Sourabh Kumar is Tech Influencer who wants to explore new fields, Documents and represent his gained knowledge to the world. He is having a vast experience in writing content in Technology, Social Issues, and the education field. Interest in learning ...
Interest is assessed on the outstanding tax amount when GST liabilities are not paid on time Failure to comply with GST regulations may result in the suspension or cancellation of your GST registration The maximum penalty for breaking the GST is 10% of the total tax amount due. However, there...