If you own a business you need to read this!
Imagine you own a shop.
Every month, you sell things and collect some tax from your customers, right?
Now, the government has a new rule called Rule 86B.
Hereโs what it means for you:\
โก๏ธ If your shop is super busy and sells more than โน50 lakhs worth of goods in a month, listen up!
โก๏ธ When itโs time to pay taxes, you can use the tax money youโve already collected to pay off 99% of what you owe the government.
โก๏ธ But hereโs the twist: you need to pay 1% of your tax bill with your own money, not with the tax you collected.
โก๏ธ Why is this important? It helps stop people from cheating on their taxes with fake receipts.
And if youโre a small shop, donโt worry โ this rule is for the big players.
So, keep your business clean, and remember, playing by the rules keeps you out of trouble!
