Posted On:  4 months ago


How to Pay Zero Tax for Income up to Rs 12 Lakhs from Salary for Financial Year 2017-18

Most of salaried individual do their tax planning at the end of the year, as many are not aware of what all options are available to save taxes. Very few start planning at the beginning of the year. The article will help individuals to plan their taxes well in advance so that can invest and plan in systematic manner much in advance. The Article gives you brief idea on how to save tax and at the same time make proper investment and cover insurance and Medical expenses risk.

article author CA Chirag Chauhan

Posted On:  5 months ago


Exempt Services under GST in India from May 2017

Services by Government or a local authority excluding the following services— (i) services by the Department of Posts by way of speed post, express parcel post, life insurance, and agency services provided to a person other than Government;

article author CA Chirag Chauhan

Posted On:  7 months ago


Procedure for Transfer from RPF / Superannuation fund to NPS

In the budget of 2016-17, the Government had announced that the subscribers from recognised Provident Funds and Superannuation Funds would be able to transfer their corpus from these funds to National Pension System (NPS) without any tax implication. With the NPS gaining momentum vis-à-vis other retirement products and a number of queries being raised on the transfer of amounts from recognised Provident/Superannuation Funds to NPS, Pension Fund Regulatory and Development Authority (PFRDA) has clarified the process through a circular dated 06.03.2017.

article author One Roof Consultant

Posted On:  9 months ago


100 Key Highlights of Union Budget 2017 presented by FM Arun Jaitely FY 2017-18

100 Key Highlights of Union Budget 2017 presented by FM Arun Jaitely FY 2017-18

article author CA Chirag Chauhan

Posted On:  9 months ago


Varishtha Pension Bima Yojana 2017 with guaranteed 8% return

Cabinet today approved a pension scheme for senior citizens under which Life Insurance Corporation of India (LIC) will provide a guaranteed return of 8 per cent for 10 years. This is part of government’s social security and financial inclusion programme.

article author CA Chirag Chauhan

Posted On:  9 months ago


Submission of Life Certificate for Pensioners extended to 28.02.2017

The date of submission of life certificate by pensioners under Employees’ Pension Scheme 1995 was extended upto 15.01.2017 vide Head Office letter no. Pension-1/17( 1)2016/jeevan Praman/22750 dated 28.11.2016.

article author One Roof Consultant

Posted On:  10 months ago


EPF- Special provision for Employees’ Enrolment Campaign, 2017

In exercise of the powers conferred by section 5 read with sub-section (1) of section 7 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby makes the following Scheme further to amend the Employees’ Provident Funds Scheme, 1952, namely

article author One Roof Consultant

Posted On:  10 months ago


Employees Pension (Seventh Amendment) Scheme, 2016

In exercise of powers conferred by section 6A read with sub-section (1) of section 7 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby makes the following Scheme further to amend the Employees’ Pension Scheme, 1995, namely

article author One Roof Consultant

Posted On:  10 months ago


Receive digital payment for business and pay Zero Tax for sales up to 1 Crore - Section 44AD

The government on 19th December 2016 issued a press release for encouraging and Promoting Digital Payments & Creation of Less-Cash Economy. One of the measure was to reduced rate in presumptive taxation for transaction in digital mode. The rate of presumptive income of 8% will be reduce to 6% if receipts are done in digital form like wallets, NEFT, RTGS, etc

article author CA Chirag Chauhan

Posted On:  1 year ago


Contribution to pension fund on salary exceeding Rs. 15000 per month with effect from 1st September 2014

Kind attention is invited to the notification no. GSR- 609 dated 22.08.2014 through which following provisions were inserted in sub Para 4 of Para 11 of Employees Pension Scheme 1995 (determination of pensionable salary). The provisions of Para 11 (4) is reproduced below for your ready reference

article author One Roof Consultant

Posted On:  1 year ago


Know all about Tax Planning – What, Why and How?

Tax planning can be defined simply as planning your cash outflow towards payment of taxes in legitimate manner most beneficial to you. It draws attention to “Payment of taxes”, here question to be answered is how one can reduce that taxes or one can postpone it to future date using tax planning tools. “Legitimate Manner” means it should not be tax evasion using illegal tools of tax saving and hiding certain transactions.

article author CA Chirag Chauhan

Posted On:  1 year ago


All about Deduction U/S 80C to 80U

Taxes are an integral component in our country, with them accounting for a major portion of the income earned by the government, income which is utilised to provide certain basic provisions to citizens. Individuals who earn more than a certain amount are expected to pay taxes, as per the existing tax slabs. While these taxes can be harsh on the bank balance of a taxpayer, the government also provides certain provisions wherein one can save tax. Tax deductions can help one reduce the taxable income, lowering their overall tax liability and thereby helping th

article author Ashish Srivastava

Posted On:  1 year ago


How to save Rs 10 crore as retirement corpus

Want to retire with 8 digit figure as your corpus? 10 Crore in your Bank Account? Yes you can do that even if you are in your 30’s . Though it sounds ambitious and difficult to achieve, proper planning, Investing in discipline, and calculative risk taking can make this possible. Just Rs 15000/- per month investment as per the plan can help you achieve the goal.

article author CA Chirag Chauhan

Posted On:  2 years 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:  2 years ago


16 Changes in Income Tax Form for Financial Year 2015-16 Assessment Year 2016-17

The Finance Act, 2015 abolished the wealth-tax. Thus, taxpayers are no longer required to file returns of wealth tax from assessment year 2016-17 onwards. However, the Hon'ble Finance Minister in his budget speech had announced that information which was to be furnished in wealth tax return will now form part of ITR.

article author One Roof Consultant

Posted On:  2 years ago


Important changes in ITR forms issued for AY 2016-17

Important changes made in ITR forms to give effect of amendment made in budget 2015.

article author CA Nikesh Sheth

Posted On:  2 years 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:  2 years ago


Change in Employee Provident Fund Taxation in Budget 2016 applicable from 1 April 2016

The budget was announced giving a nightmare in the day for the salaried assessees as the finance minister announced that PF is taxable. Only interest accrued on 60 per cent contribution to EPF after April 1, 2016 will be taxed; principal amount to remain exempt. Also PPF contributions will continue to be tax exempt; no tax on withdrawal and small salaried employees with up to Rs 15,000/month income will be kept out of purview of proposed taxation of EPF.

article author One Roof Consultant

Posted On:  2 years ago


How to Pay Zero Tax for Professionals (CA, CS, Lawyers, Doctors, etc) earning Income of Rs 16 Lacs in Financial Year 2016-17- Section 44ADA Budget 2016

The Present Scheme of Presumptive Taxation is only for certain Business. Budget 2016 has introduce presumptive taxation scheme to reduce the compliance burden of the small professional tax payers having income up to Rs 50 Lacs from professions.

article author CA Chirag Chauhan

Posted On:  2 years ago


How to Pay Zero Tax for Income up to Rs 12 Lakhs from Salary for Financial Year 2016-17 Budget 2016

The Budget has made no significant change for Tax Rates for Individuals. The Individuals who earn income of Less than 5 Lakhs rupees will get Rs 5000/- as Tax rebate under section 87A.

article author CA Chirag Chauhan