Franchise training kit - Return Touch

Authorized by Income Tax Department as E-Return

Intermediary(ERIN – 100000000001510)

Touch in : www.returntouch.com [email protected] (+91)9051 7676 71

WELCOME FRANCHISE

Study Circle Meeting

Abdul Gaffar MondalDirector, Return Touch E-mail : [email protected]

Scope of IncomePAN Card – New/UpdateTAN No. – New/UpdateIncome Tax ReturnAuditing ServiceProfessional Tax Registration/ReturnProfessional Tax Enrolment/Challan PaymentVAT Registration /Return(quarterly)CST Registration /Return(quarterly)Service Tax Registration /Return(quarterly)NGO, Trust, Club, Society Registration80G RegistrationCompany/LLP RegistrationTrade Mark RegistrationWeb Design/Payment Gateway IntegrationOther Service related to TAX

PAN Card – New/Update

Checklist of Documents For PAN :

Address ProofIdentity ProofDOB Proof

TAN No. – New/Update

Checklist of Documents For TAN :

PAN No.Address ProofRegistration Certificate

Income Tax ReturnHeads of Income :-

Income from salaries Income from house property Income from Profits and gains of business or profession Income from Capital GainsIncome from Other Sources

Income Tax ReturnFinancial Year :

The Year in which income is received, earned or accrued is called “Financial Year” .

Assessment Year :The income is received, earned or accrued

is taxed in the next year which is known as the “Assessment Year” .

Example : For assessment year 2016-2017, the financial year is 2015-2016 (1st April, 2015 to 31st March, 2016) .

Contd . . . .

Income Tax ReturnWho Can Use ITR ?

An Individual

A HUF

A Firm

A Local Authority

A Company

•Any Employee of Govt./Private Company•Any Pensioner•Any Businessmen•Any Person Who Claim TDS Refund•Any Person Who Apply Loan•Any Insurance Agent•Doctor•Advocate

•NGO•Club•Trust•Society

Contd . . . .

Income Tax ReturnITR FORM :

ITR – 1ITR - 2ITR – 2AITR - 3ITR - 4ITR – 4SITR - 5ITR – 6ITR - 7

For Individuals having Income from Salary & Interest.For Individuals & HUFs not having Income from Business or ProfessionFor Individuals & HUFs not having Income from Business or Profession and Capital Gains and who do not hold foreign assetsFor Individuals/HUFs being partners in firms and not carrying out business or profession under any proprietorship

For Individuals & HUFs having income from a proprietary business or profession

For Individuals/HUF having income from presumptive businessFor persons other than,- (i) individual, (ii) HUF, (iii) company and (iv) person filing ITR-7

For Companies other than companies claiming exemption under section 11

For persons including companies required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D) or section 139(4E)

Contd . . . .

Income Tax Return

Checklist of Documents For ITR :

PAN Details*Address Proof*Bank Statement/Account No. & IFSC Code*Trade LicenseA copy of last year's tax returnTDS certificatesSavings Certificates/DeductionsInterest Statement showing interest paid to you throughout the year.

Contd . . . .

Income Tax ReturnIncome Tax Slabs & Rates for Assessment Year 2016-

171. Individual resident aged below 60 years

Education Cess : 3% of the total of Income Tax and Surcharge.Surcharge : 12% of the Income Tax, where taxable income is more than Rs. 1 crore.

Contd . . . .

Income Slabs Tax RatesWhere the taxable income does not exceed Rs. 2,50,000/-.

NIL

Where the taxable income exceeds Rs. 2,50,000/- but does not exceed Rs. 5,00,000/-.

10% of amount by which the taxable income exceeds Rs. 2,50,000/-. Less : Tax Credit u/s 87A - 10% of taxable income upto a maximum of Rs. 2000/-.


Rs. 25,000/- + 20% of the amount by which the taxable income exceeds Rs. 5,00,000/-.

Where the taxable income exceeds Rs. 10,00,000/-.


Income Tax ReturnIncome Tax Slabs & Rates for Assessment Year 2016-172. Individual resident aged above 60 years or below 80 years

Education Cess : 3% of the total of Income Tax and Surcharge.Surcharge : 12% of the Income Tax, where taxable income is more than Rs. 1 crore.

Contd . . . .


NIL


10% of amount by which the taxable income exceeds Rs. 3,00,000/-. Less : Tax Credit u/s 87A - 10% of taxable income upto a maximum of Rs. 2000/-.





Income Tax ReturnIncome Tax Slabs & Rates for Assessment Year

2016-173. Individual resident aged above 80 years

Education Cess : 3% of the total of Income Tax and Surcharge.Surcharge : 12% of the Income Tax, where taxable income is more than Rs. 1

crore.

Contd . . . .


NIL

Where the taxable income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-

20% of the amount by which the taxable income exceeds Rs. 5,00,000/-.

Where the taxable income exceeds Rs. 10,00,000/-


Income Tax ReturnIncome Tax Slabs & Rates for Assessment Year 2016-174. Any NRI or HUF or AOP or BOI or AJP

Education Cess : 3% of the total of Income Tax and Surcharge.Surcharge : 12% of the Income Tax, where taxable income is more than Rs. 1 crore.* Abbreviations used : NRI - Non Resident Individual; HUF - Hindu Undivided Family; AOP - Association of Persons; BOI - Body

of Individuals; AJP - Artificial Judicial Person

Contd . . . .


NIL


10% of amount by which the taxable income exceeds Rs. 2,50,000/-.





Income Tax ReturnIncome Tax Slabs & Rates for Assessment Year 2016-

175. Co-operative Society

Education Cess : 3% of the total of Income Tax and Surcharge.Surcharge : 12% of the Income Tax, where taxable income is more than Rs. 1

crore.

Contd . . . .

Income Slabs Tax RatesWhere the taxable income does not exceed Rs. 10,000/-.

10% of the income.

Where the taxable income exceeds Rs. 10,000/- but does not exceed Rs. 20,000/-.

Rs. 1,000/- + 20% of income in excess of Rs. 10,000/-

Where the taxable income exceeds Rs. 20,000/-

Rs. 3.000/- + 30% of the amount by which the taxable income exceeds Rs. 20,000/-.

Income Tax ReturnIncome Tax Slabs & Rates for Assessment Year 2016-175. Firm

Income Tax : 30% of taxable income.Surcharge : 12% of the Income Tax, where taxable income

is more than Rs. 1 crore. Education Cess : 3% of the total of Income Tax and

Surcharge.

6. Local AuthorityIncome Tax : 30% of taxable income.Surcharge : 10% of the Income Tax, where taxable income

is more than Rs. 1 crore. Education Cess : 3% of the total of Income Tax and

Surcharge.

Contd . . . .

Income Tax ReturnIncome Tax Slabs & Rates for Assessment Year 2016-17

7. Domestic CompanyIncome Tax : 30% of taxable income.Surcharge : The amount of income tax as computed in accordance with above rates, and

after being reduced by the amount of tax rebate shall be increased by a surcharge

At the rate of 7% of such income tax, provided that the taxable income exceeds Rs. 1 crore

At the rate of 12% of such income tax, provided that the taxable income exceeds Rs. 10 crores.

Education Cess : 3% of the total of Income Tax and Surcharge.

8. Company other than a Domestic CompanyIncome Tax : @ 50% of taxable income @ 40% of the balanceSurcharge : The amount of income tax as computed in accordance with above rates, and

after being reduced by the amount of tax rebate shall be increased by a surcharge as under

At the rate of 2% of such income tax, provided that the taxable income exceeds Rs. 1 crore. At the rate of 5% of such income tax, provided that the taxable income exceeds Rs. 10

crores.

Auditing Service

Checklist of Documents For Audit :

Last Audit ReportBank Statement/Account No. & IFSC CodeCash Book(if any)Ledger Book(if any)Mobile No.

P Tax Registration/Return

Checklist of Documents For P TAX Reg. :

PAN No.Bank Statement/Account No. & IFSC CodeTAN No.Registration certificate number under Central/State act.Mobile No.E-mail ID

P Tax Enrolment/Challan Payment

Checklist of Documents For P TAX Enrol. :

PAN No.Bank Statement/Account No. & IFSC CodeTrade LicenseMobile No.E-mail ID

VAT Registration /Return

Checklist of Documents For VAT Reg. :

PAN No.Bank Statement/Current Account No. & IFSC CodeTrade LicenseMobile No.E-mail IDCurrent tax paid receipt(if ownership)Rent receipt(if rental)Deed of PartnershipAddress Proof

CST Registration /Return

Checklist of Documents For CST Reg. :


Service Tax Registration /Return

Checklist of Documents For Service Tax Reg. :


NGO, Trust, Club, Society Registration

Checklist of Documents For Reg. :

Registered AddressList of Members(min 7) with designation KYC of that members

80G Registration

Checklist of Documents For 80G Reg. :

Certificate of NGOAudit Report (3 yrs.)

Company/LLP Registration

Checklist of Documents For Reg. :

Registered AddressTrade LicensePAN No.Mobile No.Bank Statement

Trade Mark Registration

Checklist of Documents For TM Reg. :

Registered AddressTrade LicensePAN No.Mobile No.Bank Statement

Web Design/Payment Gateway Integration

Checklist of Documents :

Registered AddressAs Client requirement

and Finally . . .

For any query mail us at : [email protected]

Services

Franchise training kit - Return Touch