Income Tax : Permanent Account Number is a number allotted to a person by the Assessing Officer for the purpose of identification. PAN of the n...
Income Tax : A person of Indian origin (PIO) is a person of Indian origin or ancestry who was or whose ancestors were born in India or nations ...
Income Tax : The Mission of Our Income Tax Department is To promote Compliance with our direct tax laws, through caring taxpayer service and st...
Income Tax : Many a times there are Mis match between TDS shown in Form 16 / Form 16A and actually deposited by Employer / Other party. However...
Income Tax : Indian citizen residing abroad, foreign citizen and other than individual (like company or trust or firm etc.) who wants to apply ...
Residential status of an individual or HUF or a company is of great importance in Indian Income Tax Act as the liability to pay tax in India does not depend on the nationality or domicile of the Tax payer but on his residential status. Residential Status is determined on the basis of physical presence i.e. the number of days of stay in India in any year.
Income Tax Department has released FORM ITR-3, ITR-4, ITR-5, ITR-6, ITR-7 for A.Y. 2014-15 vide its Income-tax Notification No. 28/2014, Dated- 30th day of May, 2014 and SAHAJ (ITR-1), ITR-2, SUGAM (ITR-4S) , ITR-V FOR A.Y. 2014-15 vide its Income-tax Notification No. 24/2014, Dated: April 1, 2014.
Partnership is simple to form and manage compared to company and LLP. However there are requirement of filing various forms in case of change in address, addition / removal of partner, change in firm name or business place etc. The article give you a tabular presentation of requirement for filing forms in Maharashtra State with time limit, documentation, section of Act, Filing fees and Penalties
The liability of each partner is limited to the contribution mention in agreement., The cost of formation is limited., Less restriction and compliance., Separate Legal Entity
Step wise Registration process of Partnership Deed in Maharashtra and challenges- Initially the process of registration in the state of Maharashtra was done manually and not system driven, however recently this process has changed to online in Maharashtra. The registration formality needs to be completed online with uploading of various Scanned Documents along with online Application forms.
