Profession Tax (PT) is a tax levied by the respective State Government in India. In Karnataka, Profession Tax has to be paid by everyone following a Profession or is engaged in any business or holds employment in public or private as specified in the Schedule to the Act. PT registration is mandatory for all professions […]
The Government of India mandates that the individuals and business of all types file income tax returns as per the specification stipulated. The various dates are here below: How to file: First and foremost let us understand what income tax is. Income tax is a tax on profit or tax on salary as stipulated by […]
What is PAN Card? A permanent account number (PAN) is a ten-character identifier issued by Indian IT department to any individual. A PAN is a unique identifier issued to all judicial entities identifiable under the Indian Income Tax Act, 1961. The income tax PAN and its linked card are issued by the Indian Income Tax […]
Let us understand what is MSME Udyam? The Government of India has replaced the previous Udgyog Aadhar Registration with Udyam number with changes in classification for both manufacturing and service sectors. Udyam registration is absolutely necessary to avail MSME benefits announced by the GOI from time to time. Udyam Registration Number has to be generated […]
Are you a professional income tax assessee struggling to maintain your income tax file ? Amendments to acts, pre-conditions, ill advice and ignorance are the root of your problems. The income tax provisions of 44AD & 44ADA make it very easy for Professionals to file and maintain their income tax returns. Let us explore and […]
ESIC is a self-financed social security and healthcare insurance scheme for the working class, which has benefited a large number of workers in the unorganized sector who cannot afford the medical expenses. ESIC is mandatory for a company with 9+ employees. The ESIC department may leverage data from various sources and issue notices which may […]
“The best things in life are free, yet eventually the authorities will figure out how to tax them!” Introduction: We all know that PF is mandatory for organizations with employees over 20, but did you every wonder how this 20 plus is computed? For example, a company has got 5 employees on roll and contract employees […]
The whole nation along with MSME in particular are proud of your Govt. & appreciate their step by step prudent decisions & the much needed OXYGEN given to MSME YESTERDAY. Our sincere HEARTFELT THANKS FOR THE INITIATIVES. Do we need more? YES. Given the situation we are in, the SKY too is not ENOUGH, but […]
We MSME were requesting the honourable Govt of India to stop our bleeding by providing us some sort of financial stimulus in this period economic recession compounded by COVID – 19. The Govt of India took a positive measure by addressing the tax and statutory compliances which was immediately required due to financial year coming […]
Hon FM Ms. Nirmala Sitaraman today announced a package of Rs. 1.7 lakh crore to handle the distress cost due to Corona Virus Pandemic and lockdown announced. · PM Garib Kalyan Scheme will entail Rs. 1.7 lakh crore, which will include direct cash transfer into Jan Dhan accounts through DBT (direct bank transfer) and food security. […]