Comprehensive Income Tax Returns for Businesses and Professionals
Extensive support to identify tax risks, tax opportunities, tax savings and tax compliances. For successful businesses and professionals like you, to help you grow, expand and nurture your work.
Plan Description
We understand your needs as a successful business, being in the same boat as you. This elite plan for businesses and professionals offers the most comprehensive documentation and corporate tax risk prevention methodologies available. We even help you prepare your Balance sheet and P&L statements.
Who is this Plan for?
This plan caters to the special requirements of:
- Businesses that must maintain books of account and/ or submit audit reports.
- Businesses who must pay advance taxes and file TDS returns.
- Professionals required to maintain books of account and/ or submit audit reports.
- Professionals required to pay advance taxes.
What Do I Get?
- Call-back from a tax expert and advice on documents to be submitted.
- Tax scrutiny and double checking for discrepancies in figures.
- Validation by a professional CA.
- Identification and Computation of tax liability.
- Preparation of summary sheet.
- E-filing of income tax return.
Why Choose Us?
- You get the benefits of comparative advantage obtained through specialization.
- Obtain top-of-the-line tech-enabled tax preparation services from one of the leading government certified e-return intermediaries in the country.
- Unmatched affordability across the industry.
- Highly experienced tax experts dedicated to your success.
How to Proceed?
- Sign up with us or call our Toll-Free number. We’ll create a record of your tax implications.
- Buy one of our subscriptions based on your tax profile.
- Receive a call back from the CA assigned to you.
- Depending on your completed profile you would be asked to submit documents to enable the CA to process your returns, apply deductions, income tax slabs, and tax exemptions or help in preparing Balance sheets and P&L statements.
- The tax expert prepares your return, verifies it with you and submits it to the tax department.
FAQ
What are the prescribed income tax rates for business in 2018?
Companies turning over up to Rupees 250 crore in a year will be subject to corporate tax at a rate of 25% of net profit after applying cash or non-cash expenses and depreciation. This is as per the Union Budget proposed income tax slab for domestic companies in 2018.
To this calculated corporate tax amount is added a Health and Education Cess 4% for all categories of tax assessees.
What constitutes income for a business?
According to the Income Tax Act, 1961, companies or businesses or professions have the following
sources of income:
- Profits and Gains from the Business & Profession;
- Capital Gains;
- Earnings from House Property;
- Earnings from other sources like interest, lotteries and so on.
The income calculated is adjusted as per section 79, set off and carry forward of losses are deducted and total gross income is determined. Deductions under Chapter VI-A are made from the total gross income to arrive at net income. The computed value of net income is chargeable to income tax.
What is Dividend Distribution Tax?
Section 115-O of the Income Tax Act governs the tax law related to Dividend Distribution Tax. This is levied in addition to the tax on income. The current rate of DDT is 15%. Surcharge 12% and HEC 4% is also applicable on DDT.
What taxes are levied on Long Term Capital Gains?
LTCG tax on holdings worth over Rupees 1 lakh on equity shares or equity oriented mutual funds is charged at the rate of 10% without indexation. Current LTCG holders get relief from capital gains tax till January 31, 2018.
What is Minimum Alternate Tax?
Minimum Alternative Tax or MAT: Applicable to companies whose determined tax liabilities under Section 115JA are less than 18.5% of book profits.
