Who has to register under Karnataka Shops and Commercial Establishment Act, 1961. Entrepreneurs owning shops and commercial establishments in the State of Karnataka have to compulsorily register with Department of Labour, Government of Karnataka as per the Karnataka Shops and Commercial Establishment Act, 1961. A Shop includes offices, storerooms, go downs, …

Income Tax Return Forms ITR 1, 2 and 4S Simplified for Convenience of the Tax Payers;   A New Form ITR 2A Proposed which can be Filed by an Individual or HUF who does not have Capital Gains, Income from Business/Profession or Foreign Asset/Foreign Income; In Form ITR 2 and …

As you may be aware, the due date (May 15, 2015) for filing of TDS statements for Q4, Financial Year 2014-15 is approaching fast and therefore, CPC (TDS) is reaching out to you to ensure that best practices are followed in exercise of the above activity. Key information to note:   CPC …

Companies (Amendment) Bill, 2014    The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today gave its approval for moving of the following Official Amendments in the Companies (Amendment) Bill, 2014 :- i. Doing away with the requirement for filing a declaration by a company before commencement of business …

  Taking Home saver account offered by many bank Viz SBI (SBImaxgain), HSBC (Smart Home), SCB (HomeSaver), IDBI (HomeLoan Interest Saver), Citi Bank (Home Credit) instead of normal housing loan will have many benefits and you can use this as a tool to save income tax.   In our other article ‘Looking …

  Here are five smart things to know about Employee Stock Option Plan (ESOP):   ESOP is a programme for employees where they can own equity shares of the company they work for and participate in its growth. Companies use ESOP to attract and retain talent.   ESOP gives the …

  I have written a couple of articles about Kingfisher defaults to bankers and income tax department. In continuation of Kingfisher saga, here is the update.   The Beginning It was started with Income Tax Department conducting a survey u/s 133A of I T Act, on the premises of Kingfisher …

  Where payment has been made to non-residents who did not have PAN and tax has been deducted on the strength of the provisions of DTAAs, the provisions of section 206AA could not be invoked by the AO to insist on the tax deduction at 20% having regard to overriding nature of Section 90(2). …

  I. KARNATAKA VALUE ADDED TAX   The Following commodities have been exempted from Tax from 1.04.2015 to 31.3.2016: Paddy, Rice and Wheat Pulses Flour and Soji of Rice and Wheat and Maida of Wheat   The Following commodities have been exempted from Tax from 1.04.2015 Footwear of all kinds …

  It is that time of the year when tax planning becomes essential to reduce tax liability. Little bit of planning will help you to reduce your tax outgo on your share transactions.   Book loss and adjust against past profit if any and save tax. You can reduce your …