How To Name Your Business?
Deciding a good name for the business is vitally important and challenging at the same place. There are several other factors which need to be ...Read More
Comprise taxation on income earned in a financial year a part of which is taxable as per rates prescribed for that year. With the financial year running from 1 April to 31 March of following year, broadly taxpayers are classified as residents or non-residents where the individual taxpayers can be classified as 'residents but not ordinary residents'.
An individual is considered resident in India if he is in India in tax year for:
A resident is "not ordinarily resident" in India in any tax year if he:
Income is categorized under five broad heads/classes where the taxable component of income is ascertained as per the rules for particular head/class of income followed by aggregation for determining total taxable income. These include:
Salaries – Received against services rendered and include wages, pension, fees, commission and taxable value of perquisites.
Income from house properties that comprise income that arises from use of residential/commercial properties. Here, only two prescribed deductions are permitted while computing income.
Profits and Gains from Business/Profession that covers income earned from business/profession that is net of permissible deductions, against revenue earned.
Capital Gains that covers gains which arise from transfer of capital assets and the period of holding determining classification of asset, which then determines manner of taxation. The gains comprise short-term assets and long-term capital assets.
Income from Other Sources that are residuary head/class of income covering any income not specifically dealt with under other heads.
For foreign nationals, Indian tax law provides exemption of income earned subject to prescribed conditions. This is based on conditions like –
|Income Range||Very senior Citizen(who is
80 years or above at any
time during previous year)
|Senior Citizen(who is 60 years
or above but below 80 years
at any time during previous year)
|General Category & non Resident
Other than (a) & (b)
|Upto Rs. 2,50,000||Nil||Nil||Nil|
|Rs. 2,50,001 to Rs. 3,00,000||Nil||Nil||5%|
|Rs. 3,00,001 to Rs 5,00,000||Nil||5%||5%|
|Rs. 5,00,001 to Rs 10,00,000||20%||20%||20%|
|Above Rs. 10,00,000||30%||30%||30%|
*For FY 2017-18, the Finance Minister has provided a maximum Rebate of Rs. 2,500 under Section 87A who are a RESIDENT INDIVIDUAL & Total Income Less Deductions (under Section 80) is equal to or less than Rs 3,50,000. If both the above conditions are satisfied, rebate of Rs 2,500 will be available under Section 87A. The rebate is limited to Rs 2,500. Which means if the total tax payable is lower than Rs 2,500, such lower amount of tax will be the rebate under section 87A. This rebate is applied on total tax before adding Education Cess(3%). This rebate is also available to Senior Citizens who are 60 years old but less than 80 years old.
Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh but up to Rs.1 crore and 15% of income tax, where the total income exceeds Rs.1 crore.
Domestic Company - Turnover upto Rs. 50 crores
Domestic Company - Turnover exceeding Rs. 50 crores
Firms Foreign Company
Kinds of Taxes
Partnership Firms and LLPs (Limited Liability Partnerships) are to be taxed at the rate of 30%.
Do you looking for Income tax Consultants or Tax consultants in Delhi ? We offer Income tax Consultants or Tax consultants in Delhi services at affordable price, which meet the client's requirements and expectations completely. We offer expert consultancy to Corporate, foreign Companies, individuals (both Residents and Non-residents), partnership firms who are liable to pay Tax according to the Indian legislation authority. We are also dealing in filing Income Tax Return for various category of persons under the income tax act. This is another important aspect about which people are generally not aware of and because of lack of knowledge and at times poor guidance land in making improper financial decisions, which is an important aspect of everyone’s life. We can develop tax strategies that can help our clients in managing new tax laws according to our legislation. Our expert services include - Tax Planning, Reducing Tax Liabilities & Risks, Finalization of Accounts, Filing of Returns, Preparation of Tax planning and preparation. So, come to us for filing your Income Tax Return and enjoy the benefits of good financial planning advise and that too in a cost effective manner. Below mentioned our Income tax Consultants or Tax consultants related service that we offer to our clients:
Private Limited Companies are those types of companies where minimum number of members is two and maximum number is two hundred. A private limited company has the limited liability of members but at the same time it has many characteristics as those of a partnership firm. A private limited company has all the advantages of partnership namely flexibility, greater capital combination of different and diversified abilities, etc., and at the same time it has advantages of limited liability, greater stability and legal entity. In this sense, a private limited company stands between partnership and widely owned public company. Identifying marks of a private limited company are name, number of members, shares, formation, management, directors and meetings, etc., The maximum number of directors shall have to be mentioned in the Articles of Association. In the grand of privileges and exemptions, the Companies Act has drawn a distinction between an independent private company and other private company which is a subsidiary to the other public company.
All the information related to any client is considered confidential and never be disclosed to anyone.
Having years of experience in respective areas and backed by skilled and experienced workforce keep us ahead.
The key to good customer service is building good relationships with clients and ensure a great impression.
Not happy with the service? You can request a refund at anytime within 30 days!.
Get support through phone, email, mobile app or live chat - 24/7, 365 days.
Easily pay online with EMI payments, credit or debit card, net banking, PayPal and more.
Thank you very much for all your help in setting up my new company and clearing up all outstanding business in my sole trader accounts. For the first time in years I have peace of mind regards my business accounts. Your workforce are a credit to you, the girls at reception are so helpful and Chris has been brilliant. It is very much appreciated.
A US consultancy group
Rajput Jain & Associates. are a tremendous value added to me as an executive and a busy parent. It just makes sense to delegate my tax file to them -- they are proactive, extremely service oriented, and most importantly, I am completely confident they are finding every dollar of tax savings available to me.
A Leading Service Provider
We use Rajput Jain & Associates for all our accounting, Corporation tax, VAT and other compliance needs. The service is professional, courteous and prompt. I would recommend Rajput Jain & Associates to any company requiring a comprehensive accounting and tax service.
A Leading Consultancy Firm in Dubai