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Posted On:  2 years ago


Tax Deduction and Collection Account Number TAN and Income Tax FAQ

Assessing deducting Tax at Source sometime has many question in his mind in relation to TAN Number and application of same. The article provide FAQ with respect to Tax Deduction and Collection Account Number

article author CA Chirag Chauhan

Posted On:  2 years ago


E-filing of appeal before CIT-Appeals is made mandatory

The Income tax Department on 30.12.2015 has announced for providing efficient taxpayers services to digitize various functions.

article author CA Chirag Chauhan

Posted On:  2 years ago


Mandatory PAN Provision: Challenge ahead for organised trade!

Notification No. 95/2015 dated 30th December, 2015 issued by CBDT made quoting of PAN on various transaction mandatory. The Serial no. 18 of the amended Rule 114B is real challenge for trade and business. The seller of goods or provider of service is entrusted with various responsibilities similar to existing TDS provisions. Articles decoding the provisions in short.

article author Chetan Oswal

Posted On:  2 years ago


Income Tax Compliance for Trust

Formation of Trust is an easy option. However there are compliance requirement as per Income Tax Act. Article provide you brief guidance for compliance which needs to be done as per Income Tax Act.

article author CA Chirag Chauhan

Posted On:  2 years ago


Income Tax Compliance for Partnership Firm in India

Partnership and LLP are the preferred mode to start a business. You can always scale up to form Company later on. Formation if partnership if easy process as per partnership act, however most of the time partners forget to comply with the provision of Income Tax Act. The article give you brief about compliance by Partnership Firm in relation to Income Tax Act.

article author CA Chirag Chauhan

Posted On:  2 years ago


FAQ on Service Tax returns

The online Burden of service tax related transaction is on ACES.ACES stands for Automation of Central excise and service it is the official government site which handles every now and then of service tax through online which begins from registration (ST-1) to filing return of service tax (ST-3). A new service tax assessee doesn’t know the X Y Z of the service tax site (ACES). He/she may even not know how to file statutory Service tax returns using ACES tax application or he doesn’t have the knowledge which return to file online or when to file(period of return filing)etc. To solve the doubt of the new assessees below are some questionnaires for them with the solution:

article author One Roof Consultant

Posted On:  2 years ago


FAQs on filing of returns using EXCEL downloadable utility & service tax returns using web-form (online)

As everything which is manual and time consuming has become online and become hassle free. The forms for payment of tax are also made available online one can download the form and fill the details and upload the form online. Same is in the case of Service tax return the ACES site provide the assessee the facility to download EXCEL downloadable utility and through the use of this utility the assessee can fill the details and generate XMl which latter can be uploaded on the ACES site through the assessees account. But everything has its own difficulties the assessee may face various difficulties like the utility is supportable for certain versions of EXCEL only. The utility may get updated every now and then so filing the return in an old utility may be a wrong decision. The assessee may not know the steps to fill the utility. The assessee must give attention to the below FAQs before making the use of EXCEL utility

article author One Roof Consultant

Posted On:  2 years ago


FAQ FOR ST3 SERVICE RETURN:

Service tax return is filed generally either yearly, monthly, quarterly or half yearly the assessee may not having the knowledge that whether is eligible to file return yearly, monthly, quarterly or half yearly. He/ She may not have the knowledge whether he is liable to file/pay service tax or not as we know negative list assessee is excluded from payment of service tax. The assessee may not know the method to file the return or may not know how to fill the data in the return. He may wrongly fill any field in the return. To solve this problem below are some questionnaires which will help you to evolve you of the problems faced at the time of filing the online return:

article author One Roof Consultant

Posted On:  2 years ago


FAQ on Service Tax returns, on-line Payment of Service tax and Dealer/Importer Service tax Return

The online Burden of service tax related transaction is on ACES.ACES stands for Automation of Central excise and service it is the official government site which handles every now and then of service tax through online which begins from registration (ST-1) to filing return of service tax (ST-3). A new service tax assessee doesn’t know the X Y Z of the service tax site (ACES). He/she may even not know how to file statutory Service tax returns using ACES tax application or he doesn’t have the knowledge which return to file online or when to file(period of return filing)etc. To solve the doubt of the new assessees below are some questionnaires for them with the solution:

article author One Roof Consultant

Posted On:  2 years ago


FAQ on Employee Provident Fund Act 1952-Administrative provision of act

Q1) Does central government has the power to make employee PF act applicable to establishment to whom this act does not applies earlier? Answer / Interpretation of Act: If any establishment is having its own rules and regulation before this act came into power then the central government may make a notification in official gazette make the provision applicable to such other establishments.(For detail information refer bare act). Related section with Bare Act:

article author One Roof Consultant

Posted On:  2 years ago


Employee Provident Fund act 1952- Recovery Provision

Q1) what are the various made of recovery of money due from the employer? Answer / Interpretation of Act: There are various made of recovery of money due from the employer under the employee PF act (For details refer bare act). Related section with Bare Act: “Section - 8, Mode of recovery of moneys due from employers Any amount due—

article author One Roof Consultant

Posted On:  2 years ago


National Pension Scheme Return Analysis and Plan Comparison

The meaning of retirement has changed a lot as compared with the past generation. Retirement is no longer about living in a joint family with children and grandchildren, with all living needs taken care of by earning members of the family. Retirement today is about financial freedom, travel, gaining new hobbies and contributing to the society. It is no surprise then that any investment option which plans for one’s retirement generates a lot of interest.

article author One Roof Consultant

Posted On:  2 years ago


FAQ on Employee Provident Fund Act 1952-Penal Provision for Non Compliance

Q1) Who is responsible in case offences is against a company employee PF act? Answer / Interpretation of Act: If any person of the establishment is committing an offence under employee PF act then every person who at the time of offence committed is in charge and responsible to the company for the conduct of the business of the company, as well as the company, shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly. Related section with Bare Act: “Section - 14A, Offences by companies

article author One Roof Consultant

Posted On:  2 years ago


FAQ on Employee Provident Fund Act 1952-Pension Scheme and Insurance Scheme under Employee Provident Fund.

Q1) what is an employee provident fund scheme? Answer / Interpretation of Act: Employee Provident Fund Schemes is framed by central government in the official gazette for the establishment of provident fund under this act Related section with Bare Act: “Section - 5, Employees' Provident Fund Schemes The Central Government may, by notification

article author One Roof Consultant

Posted On:  2 years ago


FAQ on Employee PF Act 1952-Provision in relation to Employer

Q1) what is an establishment under Employee PF act what types of establishments are covered under the employee PF act? Answer / Interpretation of Act: Under employee PF act establishment includes all department or branches of the organization whether it is located in the same place (place means city or locality) or in different place all such department and branches shall be considered as establishments under this act. Related section with Bare Act: “Establishment to include all departments and branches 2A

article author One Roof Consultant

Posted On:  2 years ago


7 new ways for individuals to save income tax and plan your investment in 2015-16

For many people tax planning is related to only makinginvestments under Section 80C. But there are different provisions in the Income Tax Act and rules which, if used judiciously, may help in considerable tax saving and proper investment Many of you might be aware of deduction in 80C, 80D, etc.

article author CA Chirag Chauhan

Posted On:  2 years ago


Know More About Form 15CA

Form 15CA is a Declaration of Remitter and is used as a tool for collecting information in respect of payments which are chargeable to tax in the hands of recipient non-resident. This is starting of an effective Information Processing System which may be utilized by..

article author Manish Savalkar

Posted On:  2 years ago


Form 15CA and 15CB- amended Rule 37BB

This article is connected with my previous article which I had wrote on January 29,2015. Thanks to all reader who wrote my articles and apologized to people who call me or ask me queries on phone and email but I am not able to reply because of my busy schedule.

article author Manish Savalkar

Posted On:  2 years ago


Problem is Ecommerce and Solution is also Ecommerce

World is going online, to what extent your business is online? This question each and every business person should ask himself/herself if one’s business is not online. Going online and selling online utilising Ecommerce is need of day, following are top 10 reasons why Indian business should be available online by selling online or at least having online presence

article author CA Nikesh Sheth

Posted On:  2 years ago


Reason for Rejection of Service Tax Return and how to reply correctly.

Most of the Assessee of Service Tax has received mail from Automation of Central Excise and Service Tax (ACES) stating some returns got rejected after uploading of the XML file for the ST3 return period 2015-2016 Apr-Sep.

article author CA Chirag Chauhan