Every person (i.e. Individual, Hindu Undivided Family (HUF), Association of Persons (AOP), Body of Individuals (BOI), Firms, Companies and Local Bodies) is liable to file its income tax return if his gross total income in a financial year exceeds Rs. 2.50 lakhs.
Moreover, if a person has credit card or doing foreign travelling or investing a specified sum in mutual funds or in bonds or sell/purchase an immovable property or deposited in cash exceeding a sum exceeding Rs. 10.00 lakh in a financial year in his saving bank account, he has to file his income tax return. To file an income tax return, one must have ‘permanent account number’(i.e. PAN).
We are assisting to get PAN as well as we are providing services for filing income tax return.
The persons having business income have to maintain their books of account for the purpose of filing their income tax return.
We are also providing our services for maintaining such books of account.
National Pension System (NPS) is a voluntary, defined contribution retirement savings scheme designed to enable the subscribers to make optimum decisions regarding their future through systematic savings during their working life Under the NPS, individual savings are pooled in to a pension fund which are invested by PFRDA regulated professional fund managers in to the diversified portfolios comprising of government bonds, bills, corporate debentures and shares. These contributions grow and accumulate over the years, depending on the returns earned on the investment made.
Introduced by the Government of India and regulated by the Pension Fund Regulatory & Development Authority (PFRDA).
Tax benefits of NPS
Tax benefits for Individuals (All Citizen Model)
Self employed individual is eligible for tax deduction of up to 10% of Gross Income under section 80CCD (1) of Income Tax Act, 1961 within Rs.1.5 Lacs limit under section 80CCE
Additional investment of Rs.50,000 will be eligible for tax deduction under section 80CCD (1B) of Income Tax Act, 1961. This is over and above of Rs. 1.5 lacs limit under section 80CCE
Goods and Service Tax Act has been introduced and enforced by Government on 1st July 2017 as a big tax reform after subsumed State Value Added Tax (VAT), Entertainment Tax, Central Sales Tax, Octroi Duty, Entry Tax, Purchase Tax, Luxury Tax, Lottery Tax, Betting & Gambling Tax, State Surcharges and State Cesses – all are at State Levels and Central Excise Duty, Additional Excise Duty, Excise Duty levied under Medicinal and Toilet Preparations(Excise Duty) Act, 1955, Service tax, CVD, Special Additional Duty of Customs, Central Surcharge and Central Cesses – all are at Central Govt level.
It is mandatory for all persons doing business and having turnover exceeding Rs. 20.00 lakh in a financial year (i.e. year starting from 1st of April and ending on 31st of March in subsequent calendar year) to get registration under GST.
We are providing our services for the registration under GST as well as assisting in all compliances relating with GST like filing of all type of GST returns and other related services.
We are also assisting in formation of Private/Public Limited Companies as well as Limited liabilities Partnerships and also filing all necessary documents and forms at Ministry of Corporate Affairs (MCA) website.