income from business and profession


ICAI - President's Message - June 2016

Dear Professional Colleagues All of us have our share of hopes and expectations present and future While certain part of those may appear logical and is likely to come true the remaining we ourselves

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FAQ on the Income Declaration Scheme, 2016

Circular No 17 of 2016 F No 142 8 2016 TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes TPL Division Dated 20th of May 2016 Clarifications on the Income

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The Income Declaration Scheme 2016 to open from 1st June 2016

The Income Declaration Scheme 2016 incorporated as Chapter IX of the Finance Act 2016 provides an opportunity to all persons who have not declared income correctly in earlier years to come forward and

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Pre-MEF Data Verification

As you are aware every year Professional Development hosts an online form popularly known as MEF ie Multipurpose Empanelment Form atwww meficai orgThis year in order to make the Members aware as to wh

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Big Boost to Ease of Doing Business- Passing of Bankruptcy Code

Big Boost to Ease of Doing Business Passing of Bankruptcy Code Code is a comprehensive and systemic reform which will give a quantum leap to the functioning of the credit market and would take India f

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Experts Opinions

Income tax

what are all the tax incidence of companies as per income tax act 1961

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Consolidation of 2 specified businesses into a company.

If I merge two sole proprietor businesses on which I am claiming deduction u s 35AD into a company by transferring all its assets and liabilities into the company then whether can I claim deduction u

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Income from dj musical systems

Dear Expert 1 My Question is if Income Source form DJ Musical Systems in rental basis income from salary so which ITR i file itr 4 or itr 4s 2 My Question is if Income Source form Travelling means fou

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procedure of claiming income tax relief for arrear of salary u/s 89

sir plz suggest about the procedures regarding income tax relief for arrear of salary i e procedure of how to claim relief

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section 148 of income tax

return filed for the AY and got a lettet from department u s 148 of income tax act and again return filed is that come under revised return

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Dtaa under section 90 of income tax act 1961

One of My Clients have been in Germany from Jan 2016 to date He recieved his salary in Germany butnot remitted his money to India Please do correct me if i am wrong anywhere in my contentions He is a

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Tax on professional fees paid

Hi I work in a company and am on contract My company pays me salary as professional fees An amount of 10 is deducted from monthly salary saying tax on professional fees I spend the given amount of tim

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Now, register your businesses through an app in Delhi

The Delhi government has launched a mobile application that would make registration of businesses in the city instant Govt officials said the app will improve Delhi s ranking among cities with ease of

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Cenvat credit for sugar manufacturer for service tax paid on professional fees/services

Whether the Service Tax paid on Professional fees will be allowed as Cenvat Credit in Case of Company having Sugar Manufacturing businessa

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Business brand name

Hi This is Avin Shettigar I am starting a Accounts Finanace Tax and Management Consultancy Advisory business Please suggest some good brand names for my business

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  • Implication of Income Tax on Salaried Employee PPT



  • Exemption from service tax for the services provided by Government or a local authority to a business entity

    Exemption from service tax for the services provided by Government or a local authority to a business entity


  • Business Transactions Vs Investment Transactions

    Taxation of business and investment transactions


  • Income Tax Chart 2016-17

    Here it is duly revised and updated U can take a printout and paste place it at suitable place for day to day reference Ur suggestion advise for its improvement is most welcome U can download copy of other useful chart from http smahendraco com Home aspx


  • Various threshold limits for TDS and advance tax

    As amended by Finance Act 2015


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Tips received by waiters from customers is not salary income

Background and facts Section 15 of the Indian Tax Laws ITL includes the following incomes as chargeable to tax under the head Income from Salary Salary head Salary that is due from an employer or a fo

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Ease of doing business

INTRODUCTION We are the citizens of a truly networked and interdependent world united by global economy In the past business and economies were like plays maybe by the same author performed in separat

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Beware: tax evaders take bath in this "Kumbhmela" of income declaration scheme 2016 or else?

Arjuna Fictional Character Krishna by taking a holy bath in Kumbhmela a person purifies himself Now the Income Tax Department has come up with the Income Declaration Scheme 2016 to purify the Tax evad

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A study on income declaration scheme 2016

The scheme is basically brought as a last opportunity to declare black money and the wealth to see a black money free economy in our country in the coming time The scheme proposes reasonable taxation

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Profession tax enrolment amnesty scheme, pay tax for 3 years instead of 8 years

Arjun Fictional character Krishna Profession Tax is also paid by the self employed person The Sales Tax Department of Maharashtra has introduced Amnesty Scheme So what is this scheme all about Krishna

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Updated on : 6/2/2016 9:51:13 AM

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