Taxation is one of our favourite areas of us and we are very passionate as well as experienced about it. We have been in the tax Consultancy service for long 25 years. Many businesses in West Bengal, Bihar, Chattisgarh, Odissa have benefited from us. We have been working since the time of Sales tax law, then VAT came and now GST is going on. We are really efficient in calculation of Income tax and return filing.
So you can trust DNRLGK with your eyes closed.
A short story of Income Tax
- Income tax is a type of Direct tax, which is imposed by the Government of India on income generated by businesses (Sole Proprietorship Business, Partnership Firm, Pvt. Ltd Company, LLP, Ltd. Company etc.) and individuals (Salaried persons and professionals).Obviously there are several slabs and systems for the same.
- Among Direct Taxes Income Tax is the most significant being the major source of revenue for the Government and also it affects almost every individuals.
- The law of Income Tax is contained in the Income Tax Act, 1961.
- It is a huge and complex subject, DNRLGK TAXATION CONSULTANTS is presenting this complex subject in a simple form.
- We are very much competent to solve A to Z problems regarding Income Tax.
We calculate tax accurately, arrange and file Income Tax Returns with care for our valued clients since 1998.
DNRLGK will be the best choice for you to prepare your Income Tax File.
The State Government levies the professional tax on the professionals and members. The levy and governance of professional tax in West Bengal is regulated under the West Bengal State Tax on Professions, Trades, Callings and Employments Act, 1975.
What is RC and EC number in Professional Tax (PT)?
RC and EC refer to Certificate of Registration and Certificate of Enrollment, respectively. Hence, the RC and EC numbers are unique numbers that are allotted by the State government.
Employers are required to deduct Professional Tax as per existing Slab and deposit the same to the prescribed Authority. Thus, Registration is required in respect of Individuals employed, while Enrolment is required in relation to Business, Trade or Profession.
Who are liable to pay Profession Tax in West Bengal?
Salaried individual’s or professionals who have a monthly salary of more than Rs. 10,000 are liable to pay professional tax in West Bengal. The Professional Tax needs to be paid on an annually basis for the following entities :
# Proprietorship concern.
# HUF
• Firm
• Company
• Corporation, or other corporate body
• Society
• Club or
• Association
The above shall be engaged in any profession/trade/calling/employment in West Bengal and is mentioned in the Profession Tax Schedule. Professionals such as Legal practitioners, Management consultants, Tax consultants, Licensed shopkeepers, Occupier for factories, Licensed shipping brokers, Medical practitioners, Architects, Engineers, Chartered accountants, Licensed boat suppliers need to pay such tax in West Bengal.
What is GST ?
The goods and services tax (GST) is a tax on goods and services sold domestically for consumption. The tax is included in the final price and paid by consumers at point of sale and passed to the government by the seller.
GST is a single tax on the supply of goods and services. That means the end consumer will only bear the GST charged by the last dealer in the supply chain. Several economists and experts see this as the most ambitious tax reform since independence.
What are the benefits of GST ?
The GST can be beneficial as it simplifies taxation, reducing several different taxes into one straightforward system. It also is thought to cut down on tax avoidance among businesses and reduces corruption.
10 Benefits of Goods and Service Tax (GST)
• Easy compliance,
• Uniformity of tax rates and structures,
• Removal of cascading,
• Improved competitiveness:
• Gain to manufacturers and exporters,
• Simple and easy to administer,
• Better controls on leakage,
• Higher revenue efficiency,
DNRLGK will be the best option for you in this verse filed of taxation. Get registration & feel relax.
What is TDS ?
- Introduction the concept of TDS was introduced with an aim to collect tax from the very source of income. As per this concept, a person (deductor) who is liable to make payment of specified nature to any other person (deductee) shall deduct tax at source and remit the same into the account of the Central Government.
Why TDS is refunded?
A TDS Refund arises when the taxes paid by way of TDS are greater than the actual tax payable calculated for the Financial Year. It is calculated after consolidating income earned from various sources.
Therefore, you can claim a TDS refund when filing your income tax returns (ITR) for the financial year. The TDS (Tax Deducted at Source) refund process is easy and does not take a long time, provided you have the necessary documents.
# We generate TAN (TAX DEDUCTION AND COLLECTION ACCOUNT NUMBER) for Employer, Business houses, who needs to deduct Tax at sources.
# We deposit TDS, make TDS Returns and properly file the same.
# We Generate TDS Certificates within prescribed time in the prescribed forms.
Tax collection at source (TCS) is an extra amount collected as tax by a seller of specified goods from the buyer at the time of sale over and above the sale amount and is remitted to the government account. As per Income Tax Act, 1961 certain persons, being the Sellersmust collect a specified percentage of tax at the time of receipt of amount from their buyers or at the time of debiting of the account of the Buyer whichever is earlier. Section 206C of the IT Act mentions the particular goods, on sale of which tax needed to be collected from the purchasers.
DNRLGK will be the best choice for you to resolve issues relating to TDS & TCS.