June 2019 – Semantic Taxgen Pvt Ltd

Month: June 2019

Startup Income tax Benefits

June 08, 2019

Tax exemption u/s 80iac-Exclusive deduction of Income of Startup    A. Benefits: Tax Holiday for 3 consecutive financial years out of its first ten years since incorporation Refer to the following notification for more details:  B. Eligibility The entity should be a recognized Startup Only private limited or Limited Liability partnership is eligible for Tax exemption under […]

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Startup Benefits

June 08, 2019

BENEFITS OF REGISRATION UNDER STARTUP 1. SELF CERTIFCATION UNDER VARIOUS LABOUR LAWS A. Objective  To reduce the regulatory burden on Startups, thereby allowing them to focus on their core business and keep compliance costs low.   B. Benefits Startups shall be allowed to be self-certify compliance for 6 Labour Laws and 3 Environmental Laws through […]

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How to get startup license

June 08, 2019

Under the Startup India Action Plan, startups that meet the definition as prescribed under the G.S.R. notification 501 (E) are eligible to apply for recognition under the program. The Startups have to provide support documents, at the time of application. Eligibility Criteria for Startup Recognition: The Startup should be incorporated as a private limited company […]

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ANYALSIS OF ITR5/ITR6 AND ITR7

June 08, 2019

ITR6 :- For companies other than companies claiming exemption under section 11 (Means Companies Registered under Section 8 Company) ITR 7 :- For Persons including companies required to furnish return under sections 139(4A) – Charitable or Religious institution 139 (4B) – Political Party OR  139(4C) –Scientific research institution, News agency or association  139(4D)-other Institution 139(4E)- […]

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Difference Between ITR-3 and ITR-4

Difference between ITR 3 and ITR 4

June 08, 2019

Difference Between ITR 3 and ITR 4 ANYALSIS OF ALL SOURCES OF INCOME WITH SOME LIMITATIONS SPECIALLY COVERING BUSNIESSES WHO HAS NOT FILED ITR 1 AND ITR 2 :- INDIVUAL/ HUF AND FIRM INCOME :- ITR 4- simple return for Business. (Sahaj) For Individuals, HUFs and Firms (other than LLP) being a Resident having Total […]

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ITR 4- simple return for Business. (Sahaj)

June 08, 2019

For Individuals, HUFs and Firms (other than LLP) being a Resident having Total Income upto Rs.50 lakhs and having income from Business and Profession which is computed under sections 44AD, 44ADA or 44AE Note :-ITR 4 Can not be filed by the following person:- This return cannot be filed for an Individual who is either […]

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Income tax Return 2

June 08, 2019

For Individuals and HUFs not having income from profits and gains of business or profession . Note 2:-   Who will have to file ITR 2 instead on ITR 1 :-    Income more than 50 L .     Agricultural Income more than Rs.5000/-. Income from capital Gains (Sales of share , property and other movable assets). Income […]

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Income tax Return 1 (Salary Return)

June 08, 2019

ITR 1 –Simple Return for Salary For Individuals being a Resident (other than Not Ordinarily Resident) having Total Income upto Rs.50 lakhs, having Income from Salaries, One House Property, Other Sources (Interest etc.), and Agricultural Income upto Rs.5 thousand. Note 1 :- (Not for an Individual who is either Director in a company or has […]

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