Tax Department Unveils Draft Rules for Registration Under GST.

The government has put out the draft rules for the goods and services tax for discussion ahead of the September 30 meeting of the centre and states to discuss the regulations. In view of the right deadline, the finance ministry has asked for feedback by September 28. Rules relate to company registration in delhi, invoice and payments, laying down procedures, guidelines and documentation. 

It’s encouraging to see that the rules largely envisage electronic interactions between the tax authorities and industry with only need-based physical intervention like verification of premises on the application filed for business registration in gurgaon Indirect tax. Further all the PAN details are to be verified online with CBDT database which is expected to bring larger part of the business in the mainstream. 

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Understanding Incorporations Requirements.

In order to incorporate a business, you must file a company formation documents with the state of the government. Unlike a sole ownership or general partnership certificate, both of which are form as soon as the owner or owners conducting business, a corporation law or LLC must be created with the state, and each state has its own incorporate requirements.

Regardless of whether you are forming a Corporation or a corporation company the company formation documentary is called the Articles of Incorporation or Certificate of Incorporation. This document provides the state with necessary information on your business. The information included of Incorporation is a matter of public record, meaning that anyone can access it.

Company formation - whatyou’ll need

While the information required can vary greatly by state, there is common information that most states require to be included in the Certificate of Incorporation, including:

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Income Tax Department Raids Roadside eateries, Small Business to make Declaration Scheme Success.

The income tax department is leaving no stone unturned in its bid to make the income declaration scheme (IDS) a success. With less than 10 days to go before the September 30 Deadline, Small business and roadside eateries many of which have never seen an IT officer before are the latest to feel the heat. 

Also, about 100 raids or surveys were conducted in Ahmadabad and eateries and well known shops in New Delhi and Kolkata.
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5 Advantages of an Online Company Formation Services.

It used to be that formation of public in India was process that most owners for new business dreaded doing. But that was before online company registration was made possible. Now gone are the days when a company owner has to go the inconvenience of personality visiting a registration center, Faced with the possibility of having to wait days before his business can be declared official. 

Today, forming a company is now a simple and straightforward process. That said, there are still plenty of would-be business owners who are reluctant to take advantage of registering a company through the Internet simply because it is known to be a notorious playground for shameless scammers and fraudsters. To combat this problem, online company registration service providers have taken extra measures to provide security and protect the privacy of their clients.

There are actually plenty of reasons why entrepreneurs ought to register their companies through the Internet, but here we are only going to talk about the 5 advantages of registering a company online in India.

Why NRIs have to file tax return in India?

·         If an NRI has to claim a refund, then he or she must have to file a return. This may happen where the tax deducted at source is more than the actual tax liability e.g. a bank may deduct the tax on an NRO fixed deposit at 30.9% but as per Double Taxation Avoidance Agreement (DTAA) this income may be taxed at lower rate, or say if income for the year was below the exemption limits but the bank deducted tax at source on interest amount, a refund can be claimed by filing a tax return. Prior to your move, you spent a few months in India and earned salary in India, your employer has provided you a Form 16 and all taxes are duly deducted by your employer. For an NRI, it is must to file a tax return in India, if his or her gross income from this employer and including all your incomes in India for the entire financial year exceed Rs 2, 50,000. Business registration in gurgaon

If you have a house property in India you might need to file a return. "You own two or more than two house properties in India, though none of these is let out. There is no rental income. In such a case - as per Income Tax Act - only one house property shall be considered to be self-occupied and its income shall be considered nil and all others will be considered deemed to be let out properties and therefore you will have resulting Income from House Property and you will be required to file a return in India." 

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Income Tax Collection Rises 30% in June Quarter.

The Tax department is hopeful of meeting the revenue assortment target for twelvemonth 2016-17, a prime official aforesaid on Tuesday. 

Indirect tax assortment rose regarding thirty.8 per cent throughout april-june to RS one, 99, 970 crore, against Rsone, 52,740 large integer within the corresponding amount a year past, 
The collection up to June indicates that twenty five.7 per cent of the annual budget target of indirect taxes has been achieved within the 1st 3 months of the yr. Chartered accountant in Delhi. 
 
We have done fine to date. assortment within the June quarter from central excise customs and serve tax place along square measure thirty per cent a lot of from the year-ago amount. Central board of excise and customs chairman Najib sovereign on the sidelines of an occurrence here.

GST Bill: Green Light for One Nation One Tax.

After being subject to months of haggling and histrionics, the goods & services tax GST finally had its historic day in the rajya sabha with the passage of the bill to amend the constitution paving the way for what is popularly referred to as the concept of one nation one tax.

Barring the AIADMK which staged a walkout on the plea that it violated federalism all others, including congress voted for the bill.

Led by the former finance minister P. Chidambaram. The congress supported by members of some parties made a valiant effort to extract an assurance from finance minister Arun jaitely that as and when he would introduce the subsequent legislation to operationalize the GST it would be as finance rather than money bills. This was to ensure that they would also be voted in the rajya sabha.

     The constitutional amendment will enable both centre and the states to simultaneously levy the            GST, which will subsume all indirect taxes currently levied including excise duties and service tax.      It will be levied on consumption rather than production.