E-Tax Payment facilitates the payment of direct taxes online. If TAN/ PAN is valid, you will be allowed to fill other details of challan like accounting head under which payment is made, name and address of TAN, and also select the bank through which payment is to be made, etc. To pay your Income Tax dues online, first, you have to log...
Continue readingRelief & Changes in Due Dates
INCOME TAX The due date of filing Income Tax Return for Financial Year 2018-19 has been extended from 31/03/2020 to 30/6/2020 The due date of Vivid se Vishwas scheme which is introduced to resolve pending tax disputes has been extended from 31/03/2020 to 30/06/2020 without the payment of 10% additional amount The filing date...
Continue readingTax Deducted at Source (TDS)
Tax deducted at source is a means of collecting tax on income, dividends, or asset sales, by requiring the payer to deduct tax due before paying the balance to the payee. Who is liable to deduct tax at source ? People responsible for making certain payments of incomes or amounts are liable to deduct...
Continue readingSurvey, Search and Seizure
SURVEY In general terms, “Survey” means : To look closely at or examine something or someone or A general view, examination or description of something or someone But here we are discussing survey in context to the inspection of books of accounts, cash, stock, other valuables, etc. at the business premises by the Income...
Continue readingSources of Funding Available for Companies
Businesses and entrepreneurs face many challenges in the complex business environment. One of the biggest challenges is to raise external funding, or capital funding, to expand their businesses into new markets or locations, to invest in research & development, or to fend off the competition. And, while companies do aim to use the profits...
Continue readingPost Office Schemes
Post Office Savings Scheme : Interest Payables, Rates, Periodicity 4.0% per annum on individual/joint accounts Minimum Amount for opening of an account and maximum balance that can be retained The minimum amount of Rs. 20/- for opening 5-Year Post Office Recurring Deposit Account (RD) : Interest Payables, Rates, Periodicity 6.9% per annum (quarterly compounded)...
Continue readingMaintenance of Books of Accounts and Audit
Under Section 44AA, certain records and books of accounts have to be maintained by the assessee. A person carrying on any profession in legal, medical, engineering, architecture, accountancy, technical consultancy, interior decorator, authorized representative, film artist, the company secretary is required to keep and maintain books of accounts and documents as specified:- Cash Book...
Continue readingHOW TO SET UP A COMPANY IN INDIA
ACompany is a legal entity which is formed by registration with the Ministry of Corporate Affairs. The process is not complicated though time taking. To begin with, we have to decide, in order of preference, at least one suitable name up to a maximum of six names, the names should be indicative of the...
Continue readingTrademark Registration Process
Before beginning the trademark registration process, the entrepreneur or the trademark professional must conduct a trademark search of the trademarks which are already registered as it provides the information about the registered trademarks. Once the search completes, the applicant can apply with the Trademark Registrar. The registration must be made in the prescribed manner...
Continue readingRepresentative Assessee
Income Tax Return of the Deceased by his Legal Heir The Income Tax Return for a Deceased person has to be filed, If he/she has taxable income. His legal heir/representative needs to file the return on his behalf for the income earned till the date of his death. The legal heir is the person...
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