Sri Sakthi Groups

TAX STRUCTURE IN INDIA ☑ 1) What r u doing? Ans. : Business Tax : PAY: PROFESSIONAL TAX! ☑ 2) What r u doing in Business? Ans. : Selling the Goods. Tax : PAY SALES TAX!! ☑3) From where r u getting Goods? Ans. : From other Area/State/Abroad Tax : PAY CENTRAL SALES TAX, CUSTOM DUTY & OCTROI!  AND NOW LBT & LPT. ☑ 4) What r u getting in Selling Goods? Ans. : Profit Tax : PAY INCOME TAX! How do you distribute profit ? Ans : By way of dividend Tax : Pay DIVIDEND DISTRIBUTION TAX. ☑ 5) Where u Manufacturing the Goods? Ans. : Factory Tax : PAY EXCISE DUTY! ☑ 6) Do u have Office / Warehouse/ Factory? Ans. : Yes Tax : PAY MUNICIPAL & FIRE TAX! ☑7) Do you have Staff? Ans. : Yes Tax : PAY STAFF'S PROFESSIONAL TAX! ☑ 8) Doing business in Millions? Ans. : Yes Tax : PAY TURNOVER TAX! Ans : No Tax : Then pay Minimum Alternate Tax (MAT). ☑ 9) r u taking out over 25,000 Cash from Bank? Ans. : Yes, for Salary. Tax : PAY CASH HANDLING TAX! ☑ 10)...

NECESSARY IMPORTANT AMENDMENTS IN TDS RATES in Finance Bill 2016 SECTION Nature of Tranasaction INCREASE IN EXEMPTION LIMIT Amendment in TDS Rates Exsiting Current w.e.f. 01.06.2016 Exsiting Current w.e.f. 01.06.2016 192A Payment of Accmulated PF to employee 30000 50000 10% 10% 194BB Winning from Horse Race 5000 10000 30% 30% 194C Aggregate Contractual Payment 75000 100000 1% /2% 1% /2% 194D Insurance Commission 20000 15000 10% 10% 194DA Payment in respect of Life Ins...

The New TCS compliance regime W.E.F. 01.06.16 - Salient Features* *[Section 206C(1D)]:* Every *“Seller”* who *receives any amount in cash* as a consideration for sale of - - Bullion (exceeding Rs. 2 Lacs), -  Jewellery (exceeding Rs. 5 Lacs), or -  Any other goods or any service (exceeding Rs. 2 Lacs) shall, at the time of receipt of such amount in cash, collect from the buyer, TCS @ 1% of sale consideration. *No TCS shall be required on any amount on which TDS has been made by the payer under chapter XVII-B.* *NOTES:* 1)    *Seller* receiving consideration for sale of motor vehicle of value exceeding Rs. 10 Lacs (in cash or cheque), shall, collect TCS @ 1% of sale consideration. *[S.206C(1F)]* 2)    Tax collected at source shall be deposited within one week from the last day of the month in which collection is made. 3)  Quarterely TCS statement in form 27EQ shall be required to be filed on or before 15th June, 15th Oct., 15th Jan o...