Posted On:  23 hrs ago


Online 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:  1 month ago


New design of PAN card w.ef. 1st January 2017

All TEN-FCs & PAN Centres are hereby informed that the Income Tax Department (ETD) has prescribed certain changes in the existing design of the PAN Card. Accordingly, with effect from January 1, 2017, PAN cards are being printed as per the new design specifications approved by ITD.

article author One Roof Consultant

Posted On:  2 months ago


Latest changes in new passport rules

In order to streamline, liberalize and ease the process of issue of passport, the Ministry of External Affairs has taken a number of steps in the realm of passport policy which is expected to benefit the citizens of India applying for a passport. According to press information bureau the steps introduced will benefit the process of issue of new passport. The official notification will be soon published by the government in the official gazette to give effect to the change. The details of the new rules of passport application are given below

article author CA Chirag Chauhan

Posted On:  2 months ago


Top 18 unusual witty excuses for not filing return on time by Indians

Each year the Chartered Accountant receives a number of unusual witty excuses from assesses who didn’t file their tax return on time or didn’t file the return at all. Some of the excuses are as follows: 1)      My family member was hospitalized due to which I cannot file my return on time 2)      My financial condition was not good at the time of filing the return as I cannot afford to pay CA Fees 3)      I don t know how to file the return and with whom to file the r

article author CA Chirag Chauhan

Posted On:  5 months ago


E- Nivaran- hassle free solution for your tax related grievances

E- Nivaran is a special grievances redressal system launched by the income tax department in order to track the taxpayer complaints and resolve them as early as possible. This system is enabled on each assessee’s ID who is registered on the Income tax e-filing portal. The assessee can file his complaint relating to his/ her income tax return online and can resolve their problem from different departments like NSDL, UTISL or CPC. The assessee doesn’t have to visit the IT office for submission of documents as he can upload the documents through e- Nivaran. The following are the various categories and sub category of departments with whom we can lodge our complaint and resolve the same

article author CA Chirag Chauhan

Posted On:  7 months ago


Due date of Filing Income Tax Returns for Financial Year 2015-16 Assessment Year 2016-17

Filing of Income Tax Return is tedious task and should be complete well before the due dates. Most of times there are confusion in relation to due dates applicable for various type of whose earn different kind of Income.The point to be noted is Basic limit include all Income without any deduction in Section 80C to 80U and any other deduction. So in case your Income is 3 Lakhs .

article author CA Chirag Chauhan

Posted On:  8 months ago


New TCS Tax Collected at Source, PAN quoting and AIR compliance for Cash Transaction of more than 2 Lakhs from 1 June 2016 – Income Tax Section 206C

Professionals and clients both are confused about applicability of new rules for Tax Collected at Source (TCS) for cash transactions, Quoting of PANand Annual Information of Return to be filed. TCS provision are applicable to all Firm, LLP, Companies, Co-op Society. In case of Individual and HUF, TCS provision are applicable only if turnover / sales in preceding year is more than tax audit limit. The article gives a simple layman interpretation which will be helpful for all.

article author CA Chirag Chauhan

Posted On:  8 months ago


Conditions for relaxation from higher TDS u/s 206aa for Non-Residents and Foreign Company

Income earned by non-residents in the form of royalties, technical fees, etc. is subjected to TDS as per Section 195 of the Income-Tax Act, 1961. The section does not mention any rate at which the TDS should be deducted. Rates are mention in PART-II of the First Schedule.

article author One Roof Consultant

Posted On:  8 months ago


Vat Registration in Rajasthan (TIN no.)

This article provides that who is required to get register with sales tax department in rajasthan and what's the procedure for the same.

article author AMIT AGRAWAL

Posted On:  9 months ago


Profession Tax Enrolment Amnesty Scheme 2016 Maharashtra - Tax payable and documents required

The Maharashtra government has introduce Scheme for professionals and self-employed who has not enrolled for Professional Tax and not paid any Professional Tax (PT) till date. Government send usually notice to all those who are liable to pay professional tax and make them pay Professional Tax for 8 years with interest and penalty. To give one time relief to all government has introduce. This scheme is applicable only to the unregistered persons as on 1-4-2016, those who are already registered before 1-4-2016 cannot avail the scheme.

article author CA Chirag Chauhan

Posted On:  9 months ago


Procedure for Service Tax Registration online and Documents required

India's services sector has the largest share in the GDP, accounting for 57% in 2016, up from 15% in 1950. Service tax is a tax levied by Central Government of India on services provided or to be provided excluding services covered under negative list. Liability for registration in service Tax arises when turnover crosses Rs 9 Lakhs in any financial year. Liability to collect and pay service tax arises when turnover crosses Rs 10 Lakh.

article author CA Chirag Chauhan

Posted On:  10 months ago


Employees have to submit evidence for deduction of Claims in HRA/ LTA/ Housing Loan / 80C to 80U - Form 12BB

CBDT has introduce a standard format for Employers to collect declaration and proof of evidence supporting investment and expenditure. All employers use to collect the information, however there was no standard format and it was observed that most time emplyee do not provide detials of PAN card in case of HRA dedction of detials of Interest on hosing Loan in case loan taken other than from financial institution. The form is detalied one, which help in proepr compliance by Employer.

article author CA Chirag Chauhan

Posted On:  10 months ago


Register as Legal Heir in your E Filing Account of Income Tax (applicable in case of any deceased taxpayer)

To register as Legal Heir, please follow the below steps: Login to e-Filing website with User ID, Password, Date of Birth/ Date of Incorporation and Captcha. Go to My Account and click on "Register as Legal Heir." Provide the necessary details like Type of Request and Details of the Deceased like PAN, Date of Birth (DD/MM/YYYY), Surname, Middle Name and First Name.

article author CA Chirag Chauhan

Posted On:  10 months ago


Online PAN Verification – How to verify PAN card online ?

By using the Online PAN Verification facility, one can know/verify the Permanent Account Number (PAN). This facility is referred to as "PAN Verification" or "Know Your PAN". Any user can check the validity of pan card and cross check with department records.

article author CA Chirag Chauhan

Posted On:  10 months ago


How to reduce tax liability through HUF?

In this article we will discuss how to reduce the Tax Liability using HUF. As it is a separate legal entity in the eyes of Income Tax Act.

article author CA Kapil Goel

Posted On:  10 months ago


Received Notice for 26QB Statement not yet filed for Purchase of Property? How to reply and FAQ

As per Finance Bill of 2013, TDS is applicable on sale of immoveable property wherein the sale consideration of the property is equal or exceeds or to 50,00,000 (Rupees Fifty Lakh). Sec 194 IA of the Income Tax Act, 1961 states that for all transactions with effect from June 1, 2013, Tax @ 1% should be deducted by the purchaser/buyer of the property at the time of making payment of sale consideration. Tax so deducted should be deposited to the Government Account through any of the authorized bank branches.

article author CA Chirag Chauhan

Posted On:  10 months ago


Instructions for SAHAJ Income Tax Return AY 2016-17

These instructions are guidelines for filling the particulars in this Return Form. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962.

article author CA Chirag Chauhan

Posted On:  11 months ago


Instructions for SUGAM ITR4S filing Income Tax Return for FY 2015-16 AY 2016-17

This Return Form is applicable for assessment year 2016-17 only, i.e., it relates to income earned in Financial Year 2015-16.

article author CA Chirag Chauhan

Posted On:  11 months ago


Analysis of Deposits by Nidhi Companies

In this article we discuss how much a Nidhi Company can take deposits and from whom. These are the rules and limitations for taking deposits by Nidhi Companies

article author CA Kapil Goel

Posted On:  12 months ago


Starting a New Business or Profession? Compare Structure and type of Entity– Sole, Partnership, LLP or Company

The very first question in the mind of entrepreneurs when they start new business or profession is the structure of entity which can be formed which has legal status and easy to do compliance. Many Start up are confuse whether to Form a Private Limited Company or Limited Liability Partnership or Partnership to begin the new venture. The article gives you analysis which can help you to decide structure of the entity its tax benefit and compliance requirement.

article author CA Chirag Chauhan