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Posted On:  2 years ago


Registration process for Gumasta License, documents required, fees under Shop & Establishment Act 1948

Registration of Shops and establishment in Mumbai is mandatory under Maharashtra Shops and Establishment Act. Gumasta is governed by the Municipal Corporation of Greater Mumbai under the Maharashtra Shops and Establishment Act 1948 for other regions there are state government Municipal Corporation responsible for providing license. This act enables the registration and obtaining of certificate from Municipal Corporation for your new shop/ business.

article author CA Chirag Chauhan

Posted On:  2 years ago


Tax Saving By Interest on Home Loan

Tax Saving by interest on home loan

article author CA MANISH BINDAL

Posted On:  2 years ago


Make money while saving taxes

The Best Mechanism to Save Up on Taxes and also Make Money out of It.

article author ROHIT SHARMA

Posted On:  2 years ago


IEC can be applied with only 2 Documents

IEC can be applied with only 2 Documents

article author Deesha Shah

Posted On:  2 years ago


Gumasta Renewal and Changes procedure as per under Shop & Establishment Act 1948

Gumasta is to be renewed on expiry of its terms as per Maharashtra Shop & Establishment Act 1948 which is governed by the Municipal Corporation of Greater Mumbai. Following procedure is to be followed for renewal or change in Gumasta license: • Logon to http://www.mcgm.gov.in • Go to Citizen Service after which click on Shop & Establishment Tab. • In case of renewal download Form- B (attached below in annexure B) • In case of Application for Notification of Change download Form- E (attached

article author CA Chirag Chauhan

Posted On:  2 years ago


Tax treatment of dividend received from a foreign company

Dividend received from an Indian company which has given dividend distribution tax is exempt from tax under section 10(34). Exemption under section 10(34) is granted to dividend received from an Indian company and not to a dividend received from a foreign company. Thus, dividend from a foreign company received by an Indian resident is taxable

article author One Roof Consultant

Posted On:  2 years ago


Income Tax Benefit for taking Life Insurance Policy 80C, Health Insurance 80D, and Expenditure on Medical Treatment 80DD

Payment of premium on life insurance policy and health insurance policy not only gives insurance cover to a taxpayer but also offers certain tax benefits. In this part you can gain knowledge about deductions available to a taxpayer on account of payment of life insurance premium, payment of health insurance premium and expenditure on medical treatment.

article author One Roof Consultant

Posted On:  2 years ago


Education loan scheme

Delhi government start a scheme to provide education loan to needy students. In my personal opinion, it is a welcome step by Delhi Government. Following are small details about EDUCATION LOAN SCHEME:- Under the education loan scheme, the loan for pursuing professional and technical courses is being provided. The loan upto Rs.7.50 lakhs, if studying in India and upto Rs.15 lakhs if studying abroad can be sanctioned. The student/applicant

article author Sukhwinder Singh

Posted On:  2 years ago


Fast Track Company Formation

MCA through official notifications on 01.05.2015 introduce a new concept for incorporation of a company. Now we can incorporate a company in a single day through INC 29 in India. This facility is only available for OPC, Private Company, Public Company, Producer Company. It always keeps in mind INC 29 is only an option, so existing incorporation process also continued.

article author Sukhwinder Singh

Posted On:  2 years ago


List of Registers, Records & Notices to be maintained by the employer having Gumasta License under Shop and Establishment Act

Gumasta a mandatory compliance to be followed for the purpose of registration under the Maharashtra Shop & Establishment Act 1948. It also takes into account duties on part of the Employer/ Manager of various establishments and the records etc to be maintained by them and is governed under the Bombay Shops & Establishments Act, 1948 or Under the Minimum Wages Act, 1948.

article author CA Chirag Chauhan

Posted On:  2 years ago


Conveyance is it a necessity?

Most of us are hardly aware of the concept of conveyance. What exactly does it mean? Conveyance in simple terms is to gain the title of the land/ ownership of the land in the favour of the members of the society. A common man fails to understand the importance of this term. After the registration of a society it is necessary that the Builder/Developer is required to transfer the title of land to the members of the society within 4 months of formation to the society or any legal body.

article author Him Padechia

Posted On:  2 years ago


How to save long term capital gain on sale of property-deductions u/s 54 of income tax act

At the time of sale of any Long term Capital Asset, the gain is taxed at a steep rate of flat 20%. In order to save up on those taxes, the act has given us an option of claiming exemptions from paying such Capital Gains if the tax payer reinvests the amount in certain specified forms of Investment and thereby save up on Long Term Capital Gain Tax.

article author ROHIT SHARMA

Posted On:  2 years ago


What is Swach Bharat cess ??

Know all about swach bharat cess, a complehensive guide on applicability of swach bharat cess, Return filing etc.

article author CA Nikesh Sheth

Posted On:  2 years ago


Reference to Valuation officer for Capital Asset Valuation - Section 55A income Tax

At times in the process of completion of the assessment of a taxpayer or for any other purpose,the tax authorities need to ascertain the value of any capital asset. In such a case, the taxauthorities can make a reference to the valuation officer for ascertaining the value of thecapital asset. Section 55A contains the provision relating to the power of the tax authorities formaking a reference to the valuation officer for ascertaining the value of a capital asset. In thispart you can gain knowledge about various provisions of section 55A.

article author CA Chirag Chauhan

Posted On:  2 years ago


How to Pay Zero Tax for Income up to Rs 10 Lakhs

Earning an Income of Rs 10 Lacs? The Simple Tax Planning can save your Taxes and Build your Portfolio of Investments, Risk coverage and Savings. Keep in Mind following Points. 1. Basic Exemption is taken as Rs 2.5 Lacs. It can be more in case of Senior Citizen 2. 80 C Deduction can provide with many opportunity to save tax and make long

article author CA Chirag Chauhan

Posted On:  2 years ago


Exemption for capital gains arising on transfer of residential house property

Introduction A person wanted to shift his residence due to certain reason, hence, he sold his old house and from the sale proceeds he purchased another house. In this case the objective of the seller was not to earn income by sale of old house but to acquire another suitable house. If in this case the seller was liable to pay income-tax on capital gains arising on sale of old house, then it would be a hardship on him. Section 54 gives relief from such a hardship. Section 54 gives relief to a taxpayer who sells his residential house and from the sale proceeds he acquires another residential house. The detailed provisions in this regard are discussed in this part.

article author CA Chirag Chauhan

Posted On:  2 years ago


Know all about Payment of Gratuity Act,1972

Complete Act provides light on payment of gratuity with reference to Applicability of Gratuity, Calculation of Gratuity, Liability of Gratuity, Appeal provisions as per Payment of Gratuity Act,1972

article author CA Chirag Chauhan

Posted On:  2 years ago


Presumptive Scheme for Professional Like CA, Lawyers, etc under section 44AG Income Tax Act

Draft Report of Justice R.V. Easwar (Retd) Committee to simplify the provisions of Income-tax Act, 1961 has recommended presumptive income scheme for professional were estimated income will be 33.33% of receipts in case it is less than one crore and taxes will be computed accordingly. 1. A PRESUMPTIVE INCOME SCHEME FOR PROFESSIONALS The existing scheme of taxation provides for a simplified presumptive income scheme for persons engaged in business. The Committee was of the view that this scheme is quite popular amongst small traders. It was felt that there is a strong case for introducing a similar simplified presumptive income

article author CA Chirag Chauhan

Posted On:  2 years ago


Food Coupon Meal Vouchers Income Tax Benefit under Salary Income

Is Food Coupon like Sodexo coupons which are very famous given by employers to employee. Most of time employers and employee are not aware of taxability of food coupon and assume they are exempted. Rule (3)(7)(iii) dealing with such perquisites says ‘The value of free food and non-alcoholic beverages provided by the employer to an employee shall be the amount of expenditure incurred by such employer. The amount so determined

article author One Roof Consultant

Posted On:  2 years ago


Service Tax paid under wrong code - Remedies available?

Every assessee liable to pay service tax is to take registration with service tax department. Where assessee has been providing services from multiple premises, it may obtain separate registration for each of the premises or may obtain centralized registration for all the premises take together. Tax needs to be paid under the code for which registration has been obtained.

article author One Roof Consultant