Videos uploaded by user “Soatech”
Service Tax in a Works Contract
For any help in service tax please contact us 9986089033/9343877926 or visit our site http://soatech.in If you are in business where you provide turnkey key solution from design stage to building a house or complex or do some part of the process. Then you might have to pay service tax as this comes under the purview of works contract in service tax regime Examples are: Painting Contractor, Interior Designing and Renovation, Leasehold Addition and other relevant activities Works contract” means a contract wherein transfer of property in goods involved in the execution of such contract is leviable to tax as sale of goods and such contract is for the purpose of carrying out construction, erection, commissioning, installation, completion, fitting out, repair, maintenance, renovation, alteration of any movable or immovable property or for carrying out any other similar activity or a part thereof in relation to such property Know more about service tax implication in the video
Views: 5461 Soatech
Stand Up India Scheme
In recent past, Government has launched many schemes to push and support start-ups in India. One of such scheme is Stand-Up India Scheme.
Views: 1795 Soatech
Presumptive Taxation for Professional Service Providers
For any help in taxation please visit http://soatech.in goo.gl/l7RTI With the start-up boom and globalization, lot of working professionals are getting into full-time profession or on part-time basis. Then the logical question arises how the income will be taxed. Interestingly under Income Tax Act, there are two ways to pay tax First Method: Maintain the books of accounts and pay tax on the income Second Method: Pay on the basis of prescribed rates in income tax Many times for free-lancers or small time service providers, maintaining books of accounts could be a painful and tiring process. In that scenario, income tax can be paid on presumptive basis. Section 44ADA of Income Tax covers presumptive taxation for professionals. Following professions are covered under this: Legal Medical Engineering Architectural Accountancy Technical Consultancy Interior Decoration Film Artist Company Secretary Information Technology Any other profession notified by the Board When You Can Avail Benefit of Presumptive Profession When total gross receipts does not exceed INR 50 lakhs in a year What is the Presumptive Rate It is 50% of total gross receipts Example: Lets say Shyam is in the business of providing mobile app services to its client in US. It bills INR 3000000 in a year. Then the profits of the business on presumptive basis will be INR 1500000 And then income tax has to be calculated accordingly Some of things to keep in mind Eventhough tax is payable on presumptive basis, advance tax is still payable If the assesse claims lower profits then the prescribed rate of 50% then the books of account has to be maintained and tax audit has to be done. Need help in tax compliance.
Views: 2974 Soatech
What is Works Contract Rate Under GST
For any help in GST compliance, please write to us [email protected] or call us on 9343877926/9986089033
Views: 21890 Soatech
Procedure to Take Input Tax Credit under GST
There is lot of confusion surrounding the topic to taking input tax credit under GST. Below is a step by step process process to take Input Tax Credit Under GST Eligibility under GST Documents required to take credit under GST Taking Input Tax Credit Provisionally What forms to be filed? Matching of Input Tax Credit Due Dates for filing the forms Let’s look at all the steps in detail
Views: 1992 Soatech
Karnataka Solar Power Policy 2014-2021
For more details http://soatech.in or call us on 9343877926/9986089033
Views: 1873 Soatech
How to Start Spice Export Business in India
Find out in this video, how to start export business in India. You can call us on 9343877926 or 9986089033 for any clarification. For any help in setting up the business. you can visit us at http://www.soatech.in/register-a-company-in-bangalore-india/
Views: 35463 Soatech
How to Register a Company in Bangalore
In this video know how to register a company in bangalore. Need help in registration http://soatech.in/register-a-company-in-bangalore-india/ What is the requirement to register a company? If you are looking to register a company then you need to have minimum two directors in the company. In One Person company you need to have one director. Objective of the business should be clearly defined. Also the name of the company should be unique. All the directors should have Director’s Identification number commonly referred to as DIN Who all can become Directors and Share holders in a company? Director should be individuals . A resident or non-resident Indian can be a director. On Other hand a Body corporate can be a share holder in the company provided it is represented by somebody in the company. In most of the cases, a body corporate typically appoints a director on the board of the company What Documents are required Address and ID proof of directors and shareholders Address proof for place of business Memorandum of Association and Articles of Association When the Process of Company Registration Begins The registration process begins when the name of the proposed company is applied . Once the name approval comes, then documents like MOA and AOA along with other details is uploaded on MCA website. Here is the link www.mca.gov.in
Views: 890 Soatech
All About Liberalised Remittance Scheme Part1
In this scheme know about liberalised scheme in India. For any help http://soatech.in or 9343877926/9986089033
Views: 1233 Soatech
When Softex Form Has to be Filed?
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Views: 1431 Soatech
Reduction of Capital Under Companies act 2013
Find out in this video how the share-capital can be reduced in companies act 2013. For any help, please visit http://soatech.in or call us on 9343877926 or 9986089033.
Views: 6465 Soatech
How to Convert Partnership Firm Into Private Limited Company?
In this video find out how to convert partnership firm into private limited company. For help in converting visit http://soatech.in
Views: 3555 Soatech
Composition Rules under GST
http://soatech.in or contact us on 9343877926 or 9986089033 Composition rules under GST could be divided under following categories: Before GST becoming effective After GST becoming effective Conditions to be satisfied to continue to claim benefit of Composition Withdrawal of Composition Tax Validity Rate of Composition Before GST becomes effective Any person who has taken provisional registration and want to opt for composition scheme should file intimation in FORM GST CMP-01 before the GST becomes effective but not later than 30 days from the date of GST becoming effective. Point to be noted: When the form is filed after date of GST becoming effective till the time application is accepted, then such dealer cannot charge composition tax to its customers
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Bad Debts under Income Tax Act
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Whether Employer Contribution Paid after the due date is allowed under Income Tax Act 1961?
Under Income tax act 1961, an employer needs to contribute in time to claim the deduction. In this context provision of section 43B has to be taken into account. What Does Income Tax Provision Say Below is extract of the provision: Notwithstanding anything contained in any other provision of this Act, a deduction otherwise allowable under this Act in respect of any sum payable by the assessee as an employer by way of contribution to any provident fund or superannuation fund or gratuity fund or any other fund for the welfare of employees Provided that nothing contained in this section shall apply in relation to any sum which is actually paid by the assessee on or before the due date applicable in his case for furnishing the return of income under sub-section (1) of section 139 in respect of the previous year in which the liability to pay such sum was incurred as aforesaid and the evidence of such payment is furnished by the assessee along with such return Point to be noted Therefore it is quite clear that if the employer contributes on or before due date of income tax filing return then such sum will be allowed as deduction Income Tax Department View But still many times in the past, income tax officials have disallowed the amount if the remittance is not done within the due date of PF Act or ESI or any other act However this view has been rejected by Supreme Court and it has upheld that as long as employer contribution is paid before due date of filing the income tax return then it is allowed. The same has been accepted by the department in its circular 22/17.12.2015
Views: 550 Soatech
Income Tax Update-When Gifts Are Not Taxable Under Income Tax Act
For more details visit www.soatech.in. Today we are going to discuss when gifts received are not taxable. In many cases when gift value is less than 50000, then it is not taxable. Need help in Tax Planning visit http://soatech.in/statutory-compliance/ for more details
Views: 784 Soatech
VIRTUAL CFO-An Emerging Trend
In this video find why virtual cfo is on the rise. If you need virtual cfo services visit http://www.soatech.in/virtual-part-time-cfo-services-bangalore-mumbai-india/
Views: 316 Soatech
What is the rate for GST on Export of Services or Goods
For any help in compliance, please visit http://soatech.in or contact us on [email protected] or call us on 9343877926 or 9986089033
Views: 2575 Soatech
When the Private Limited Company Has to File MGT-14?
Know in this video, when the company has to file MGT-14. For any help in compliance contact us at http://soatech.in or call us on 9343877926 or 9986089033
Views: 1686 Soatech
Things to be Keep In Mind Before Starting a Bakery Business Online
These days every body want to start the bakery business to pursue the passion. However, there are certain challenges associated with it. In this video what things you should keep in mind before starting the bakery business online.
Views: 1148 Soatech
Can a Private Limited Company Take Loan from a shareholder Who is Not a Director?
In this video find out whether private limited company can take loan from shareholders. For any help, please visit http://soatech.in
Views: 1563 Soatech
Income Tax Update Procedure to furnish and verify Form 26A for removing of default
Form 26 A has been notified so that deductor can prove that payee has paid tax on his income. For any help in compliance visit http://soatech.in or call us on 9343877926/9986089033
Views: 563 Soatech
How to Get Income Tax Clearance Certificate
For any help in getting income tax clearance certificate visit http://soatech.in or call us on 9343877926/9986089033
Views: 5391 Soatech
how to remove directors under companies act 2013
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Views: 4638 Soatech
Whether Insurance Amount Received on Maturity is Taxable under Income Tax Act 1961 1
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Views: 1170 Soatech
How to Appoint a Director under Companies Act 2013
In this video find out the process to appoint a director under Companies Act 2013. Need help this in regard, visit http://www.soatech.in/accounting-services-in-bangalore/ We help you to register the company right way. Appointment of directors, appointment of director companies act 2013, how to appoint a director under companies act 2013, how to appoint a director, procedure to appoint a director
Views: 648 Soatech
Whether PAN Card is Required for Propriteroship business?
Many times we have been asked, whether PAN is required for Proprietorship business?. For any help please visit http://soatech.in or call us on 9343877926/9986089033
Views: 1595 Soatech
When a Company Should Appoint Woman Director?
Find out in this video, when a company should appoint woman director. For any help please visit http://soatech.in or call us on 9343877926/9986089033
Views: 417 Soatech
Service Tax Refund Procedure-How To Apply For Refund
Service Tax Refund can be tedious process. In this video get the step by step by step process to get the service tax refund. For more details visit http://soatech.in https://goo.gl/swzuoY Here is the text of the video Before you apply for service tax refund, you should know when you can apply for service tax refund a) When there is excess payment of service tax and which cannot be used for squaring off future service tax liability b) When there is accumulated cenvat credit used in providing output service which has been exported without payment of service tax Conditions to be satisfied for claiming excess payment of Service Tax Refund: 1.The excess payment has not been made on account of Interpretation of Law, Taxability, Classification or Valuation of any Exemption Notification . 2.In case an Assesse having Central Registration has paid Excess Service Tax because of delayed receipt of the details of the payment, such excess can be adjusted without limit . 3.In cases other than specified above-the maximum amount of service tax that can be adjusted is Rs one lac for a relevant month or quarter . 4.While claiming such adjustments, the details shall be intimated to the Superintiendent within 15 days from the date of such payment . Documents to be submitted for claiming excess payment of Service Tax Refund 1.Application in prescribed Form –R. 2. Copy of TR-6/ GAR-7/PLA/ copy of return evidencing payment of duty. 3. Copy of invoices (in original) 4. Documents evidencing that duty has not been passed on to the buyer. 5. Any other document in support of the refund claim. 6. Any other document as prescribed by the Central Excise Officer. For more details visit http://soatech.in/how-to-apply-for-service-tax-refund-a-step-by-step-process-to-get-service-tax-refund/
Views: 2328 Soatech
Treatment of FOC goods or services under GST
For any help in gst, please write to us [email protected]
Views: 1060 Soatech
Transitional provisions under GST Law-Part1
After GST is going to implemented, the common question is what happens to input credit claimed earlier under various state laws, service tax and excise. In this video get the details. For any help in GST compliance, please visit http://soatech.in
Views: 1941 Soatech
Whether Service Tax is Payable on Adsense Income?
http://soatech.in or contact us on 9343877926/9986089033 With digitisation, it has become quite common to earn income from websites. One of the popular ways to earn money from website is google AdSense. So now the common question which is asked Whether publisher has to pay service tax on AdSense income?. Let us look at some of the Frequently Asked Questions in this regard (FAQ) a) What is the nature of service publisher is providing? b) Which are the parties to contract? c) When the transaction would be construed as export of service? d) Whether Service Tax is payable on the transaction? e) Are there any specific form to be filed with RBI ? f) Under which code service tax is payable ? g) Whether Service Tax is payable if revenue is very small? Find answers to all of your queries
Views: 191 Soatech
GST Webinar- GST Concepts and Application
Find out in this webinar basics of GST, How to implement GST and other necessary information. For more details visit http://soatech.in or call us on 9343877926 or 9986089033
Views: 145 Soatech
Taxation of Approved Gratuity Trust Under Income Tax Act 1961
For any help, please write to us http://soatech.in or call us on 9343877926/9986089033
Views: 491 Soatech
Acceptance of Deposits by Private Limited Company Under Companies Act 2013
In this video find out acceptance of deposits by private limited company under Companies Act 2013. For any help please visit http://soatech.in
Views: 1112 Soatech
Income Tax Update No TDS on Reimbursement of expenses
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Views: 245 Soatech
Works Contract in GST
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Views: 16003 Soatech
Tution Fees Under Sec 80C
http://soatech.in or contact us on 9343877926 or 9986089033 Before we answer what will be disallowed and allowed, lets look at the income tax provision under section 80C as tuition fees (excluding any payment towards any development fees or donation or payment of similar nature) whether at the time of admission or thereafter (a) to any university, college, school or other educational institution situated within India (b) for the purpose of full-time education of any of the persons specified in sub-section (4); The person referred here is any two children of such individual. Taking into account following are some of frequently asked questions What is the amount allowed under section 80C Total amount cannot exceed INR 1.5 Lacs Whether both wife and husband can claim the same Yes both wife and husband can claim the exemption Whether admission fees is allowed under section 80C As per circular dtd 2.01.2017 It is clarified that the amount allowable as tuition fees shall include any payment of fee to any university, college, school or other educational institution in India except the amount representing payment in the nature of development fees or donation or capitation fees or payment of similar nature.
Views: 1956 Soatech
Transitional provisions under GST Law-Unavailed Input Credit on Capital Goods
Find out how unavailed input credit on capital goods will be treated in GST Law. For any help please visit http://soatech.in
Views: 549 Soatech
What is Profession as per section 44AA
http://soatech.in or call us on 9343877926/9986089033 Certain class of professionals are required to maintained books of accounts. Books of accounts need to be maintained if total gross receipts in the profession exceed one lakh fifty thousand rupees in any one of the three years immediately preceding the previous year, or, where the profession has been newly set up in the previous year, his total gross receipts in the profession for that year are not likely to exceed the said amount.
Views: 213 Soatech
Welcome to Soatech
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Views: 182 Soatech
Service Exports from India Scheme -SEIS Scheme
Click here http://soatech.in/service-exports-from-india-scheme-know-how-can-avail-benefit-under-it/ for further information
Views: 531 Soatech
Whether TDS is applicable on purchase of software
In this video find whether tds is applicable on purchase of software. For any help in tax compliance contact us at 9986089033/9343877926 or visit http://soatech.in
Views: 186 Soatech
TDS on Facebook Ads
For any help, please contact 9343877926 or 9986089033 or visit http://soatech.in
Views: 131 Soatech
Whether Job Work Service is Exempt from Service Tax?
For any help please visit http://soatech.in or call on 9343877926/9986089033
Views: 187 Soatech
Companies Act 2013 Exemption to Private Limited Companies
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Views: 501 Soatech
What are the legal issues with setting up a recruitment agency in India
If you are planning to start a recruitment agency in India, Then check out this video. For any help or guidance please visit http://www.soatech.in/register-a-company-in-bangalore-india/
Views: 174 Soatech
What happens to Existing Stock After Application of GST
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Views: 84 Soatech
Transitional provisions under GST Law Part4-–Treatment of Return of Goods After GST is Implemented
For any help in GST compliance, please write to us at [email protected] There could be a situation where exempt goods or duty paid goods are returned after GST is implemented. In this situation, question arises what will be treatment of such goods?, whether GST is payable or not?
Views: 209 Soatech
Transitional Provisions under GST Part7-Treatment of Cenvat Credit or Tax Credit Under Dispute
For any help, please visit http://soatech.in or write to us [email protected] could be a situation where there is a dispute between the department and registered taxable person with regard to the amount Cenvat credit or Input Tax credit. In such a scenario, the question arises how such dispute, appeal or review will be settled under GST? Find out the details in the video
Views: 111 Soatech