/ Tax Consultancy

Tax Law of India: Direct and Indirect Tax Laws

A tax may be defined as a pecuniary burden laid upon individuals or property owners to support the Government, a payment exacted by legislative authority. A tax is not a voluntary payment or donation, but an enforced contribution, exacted pursuant to legislative authority. Tax law in India consists of direct tax law and indirect tax law, and may be paid in money or as its labour equivalent (often but not always unpaid labour). India has a well-developed taxation structure. The …

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/ Tax Consultancy

Benefits of filing income tax returns – Tax consultant in India

Here are some advantages of filing ITR: 

Loans

Having filed the ITR will help individuals, like the one in the example above, when they have to apply for a vehicle loan (two-wheeler or four-wheeler). All major banks can ask for a copy of tax returns.

State Bank of India asks vehicle loan applicants for the latest salary-slip showing all deductions, TDS certificate / Form 16, copy of ITR for last two financial years.

Additionally, showing a copy of ITR receipts …

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/ Tax Consultancy

File your Income Tax Return for Assessment Year 2014-15 and 2015-16 by 31st March 2016

The Central Board of Direct Taxes (CBDT) has notified the Income Tax Returns (ITR) for Financial year 2014-15 (Assessment Year 2015-16). The new ITR forms have been released by CBDT for FY 2014-15 Income Tax Returns Filing.

What is Assessment Year & Financial Year?

Financial year (FY) is the year in which you have earned the income. If you are filing a return this year, the financial year will be 2014-15. For example, if you have had an income between …

After hearing enough rambling on FDI’s and its pressing have to be compelled to stop Indian monetary unit fall, one is incredibly curious to grasp concerning FDI and making an attempt to grasp what qualifies as FDI and what routes square measure out there for them to take a position in our country.

Foreign Direct Investment (FDI)

FDI because the name suggests, it’s associate degree investment directly created by a remote company into business in another country. Such investment may …

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Government might get Rs.400 cr in financial year 2016 via this levy

The government will impose a Swachh Bharat Cess of 0.5 per cent on all services presently liable for service tax, with effect from November 15, the finance ministry stated on Friday. The proceeds are exclusively for its Swachh Bharat initiatives. The funds would go to the Centre’s kitty and would not be shared with the states.

Finance Minister Arun Jaitley had announced the cess in his 2015- 16 …

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/ Business

Want to setup in India

In recent past Government of India has opened its doors for international companies to open their subsidiary company in India or branch in India. This move was highly welcomed by international business community and hence many international brand have started their subsidiary companies or branches in India.

Companies / Business having operations in countries other than India can set up wholly-owned subsidiary in India under those sectors where in 100% foreign direct investment is permitted under the Foreign Direct Investment …

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/ Direct Taxation

Rules for filing Tax Returns

New forms, additional information, completely paperless filing…. the Finance Ministry has introduced several changes in the way taxpayers will file their returns this year. As a taxpayer you need to be aware of these changes lest you file an incorrect return that gets rejected or results in a scrutiny notice.

This week’s cover story looks at the changes in the tax filling process and documentation and explains what taxpayers need to do. There is also a smart step-by-step guide to …

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/ Consultant

How to Register a Company in India

Registering a startup or a new business or a company in India first one has to go by, there are some official procedures a startup or a company has to follow in order to register them in Indian official records, MCA (ministry of Corporate Affairs) has to made registration process online few years back, please find below on how to go about these process when you want to register your company.

One don’t need to visit corporate office, you can …

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