BUSINESS LAWS AND TAXATION PRESENTATIONBYV.T.MURASHILLIN M.com;,LL.B(spl);,FCA;, DISA(ICAI) MURASHILLIN ASSOCIATES CHARTERED ACCOUNTANTS USA CENTRE,COEN ROAD,HUBLI-20

INCOME REVENUE EARNED DURING THE YEAR YEAR: < 12 MONTHS OR = 12 MONTHS REGULAR OR CASUAL CAPITAL VS REVENUE PREVIOUS YEAR ASSESSMENT YEAR

PERSON INDIVIDUAL/HUF FIRM CO AOP/BOI LOCAL AUTHORITY CO-OP SOCIETY ARTIFICIAL JURIDICAL PERSONS INCLUDES LEGAL REPRESENTATIVES

SOURCES OF INCOME INCOME FROM SALARIES HOUSE PROPERTY BUSINESS/PROFESSION CAPITAL GAINS OTHER SOURCES

INCOME FROM SALARY MONTHLY/ONE TIME FIXED ALLOWANCES DEDUCT P.TAX ONE OR MANY EMPLOYERS FORM NO 16 IS THE BASE

INCOME FROM HOUSE PROPRTY SOP LOP RENT-M.TAX STD DED 30% DEDUCT INT. ON HL

BUSINESS/PROFESSION NET INCOME AFTER ALL EXPS. ONE TIME RECEIPT TAXABLE?

CAPITAL GAINS SALE PRICE LESS: COST+IMPROVEMENT COST OF INDEX (LTCG) LTCG VS STCG INVESTMENTS TO SAVE CAPITAL GAIN TAX CG SAVING A/C

INCOME FROM OTHER SOURCES BANK INTEREST SITTING FEES RENT OF OPEN LAND RENT OF MACHINERY EXAM REM.

INCOME TAX EXEMPT LIMIT IT IS TAXED IN THE HANDS OF MALE / FEMALE IT IS TAXED IN THE HANDS OF MALE / FEMALE LIMIT EXEMPT LIMIT EXEMPT FOR MALE Rs For female Rs For sr.citizens Rs

Income tax rates UP TO RS % UP TO RS % % % % % > % > % ED.CESS 2% ON TAX SHE CESS- 1% ED.CESS 2% ON TAX SHE CESS- 1%

RATES OF TAX FOR PS FIRMS 30% +10%SC+2%EC+1%HSC 30% +10%SC+2%EC+1%HSC COMPANIES COMPANIES DOMESTIC 30% + 10% SC+2+1% DOMESTIC 30% + 10% SC+2+1% FOREIGN 50%+2.5%SC +2+1% FOREIGN 50%+2.5%SC +2+1%

Terms for discussion PAN PAN TDS TDS RETURN FILING RETURN FILING TAXABLE INCOME TAXABLE INCOME SALARY SALARY RENT RENT BUSINESS/PROFESSION BUSINESS/PROFESSION CAPITAL GAIN CAPITAL GAIN OTHER INCOME OTHER INCOME

PAN AND TAN PAN FOR INDIVIDUAL PAN FOR INSTITUTION TAN FOR INSTITUTION PENALTY RS 10000

TDS EMPLOYER’S RESPONSIBILITY GROSS SALARAY – KNOWN DEDUCTIONS NO DONATIONS CONSIDERED EQUAL TAX DEDUCTIONS OVER 12 MONTHS REMIT TO BANK (7 TH OF NEXT MONTH) PENALTY FOR NON/SHORT DEDUCTION

DEDUCTIONS AVAILABLE 80C LIC NSC TUITION FEES HL PRINCIPLE MF PPF ADDL FOT INFRA BONDS

CONCLUSION IGNORANCE OF LAW IS NOT AN EXCUSE IGNORANCE OF LAW IS NOT AN EXCUSE TAKE THE HELP OF EXPERTS LIKE C As TAKE THE HELP OF EXPERTS LIKE C As

THANK YOU THANK YOU