taxes are income of government. india is a developing country, therefore taxes is important source of income to indian government. the majority of taxes which are mostly collected by the government is included in this presentation.
The Goods and Services Tax was implemented in July 2017 in an effort to subsume multiple indirect taxes. The new tax regime has been adopted quite well by businesses across the country since its implementation. The Goods and Services Act will also have a great impact on the tax system in India by reducing the unfavorable effect of tax on the cost of goods and services. It is expected that the creation of the Goods and Services Tax Act and its implementation will have a great impact on various aspects of business in India by changing the traditional pattern of pricing the products and services.
This presentation gives an introduction to Taxation
What is a TAX?
Types of Taxes in India
Direct Tax
Sub categories of Direct Tax
Indirect Taxes
Benefits of Taxes
Advantages of Paying taxes
Penalty for not Paying taxes
The Goods and Services Tax was implemented in July 2017 in an effort to subsume multiple indirect taxes. The new tax regime has been adopted quite well by businesses across the country since its implementation. The Goods and Services Act will also have a great impact on the tax system in India by reducing the unfavorable effect of tax on the cost of goods and services. It is expected that the creation of the Goods and Services Tax Act and its implementation will have a great impact on various aspects of business in India by changing the traditional pattern of pricing the products and services.
This presentation gives an introduction to Taxation
What is a TAX?
Types of Taxes in India
Direct Tax
Sub categories of Direct Tax
Indirect Taxes
Benefits of Taxes
Advantages of Paying taxes
Penalty for not Paying taxes
Taxation of Non Residents
Need & the Rationale
Residential Status under Income Tax Act, 1961 (ITA) & Foreign Exchange Management Act, 1999 (FEMA)
Non Resident Taxation
Scope of Total Income & Computation of Income
Filing of Return of Income
Exemptions to non-residents
Wealth Tax & Gift Tax
Minimum Alternate Tax for foreign company
Tax Deduction at Source
Section 195, 197 & 206AA
Tax Residency Certificate
Form 15CA/CB
Online buying behaviour of consumer electronics in india Pankaj Gaurav
Analysing the factors affecting Online buying behaviour of consumer electronics’ by examining the effect of perceived risks, perceived benefits and attitude toward online shopping on shopping behaviour through an administered questionnaire and regression analysis.
This was the informative seminar on the basic taxation principles in the Philippines. It was an hour-long speech on the basics of the Philippine Tax system presented to the students of the Mindanao State University - Iligan Institute of Technology on 12 August 2011 for the Political Science 2 Lecture Series by Vivienne Cemine.\. The document was uploaded by JR Lopez Gonzales of www.politikalon.blogspot.com.
Basic overview on GST- Goods & Service Tax IndiaArpit Verma
I. Introduction.
Introduction of Goods & Service Tax (GST) in India required an amendment in the Constitution to bring concurrent powers to both the Central & State Government so that both the Government could make law & impose GST on transaction of supply of Goods and Services. For this, The Constitutional (One Hundred and Twenty Second Amendment) Bill, 2014 introducing GST received the assent of the President on 8th September, 2016 and the same has been notified as the Constitution (101st Amendment) Act, 2016.
The Draft Model GST Law was placed on Public portal by Government of India on 14th June, 2016 inviting various comments and suggestions and once again Government placed Revised Model GST Law on 25th November, 2016 with the clear intention of implementing GST by April, 2017 which is applicable to whole of India including Jammu & Kashmir.
VI. Conclusion
The Country is eagerly waiting for roll-out of GST but this is a mammoth task before the government that is to be achieved within the target date of April, 2017. Task towards implementation of GST will take our country into a new tax regime and shall also result in generating more employment opportunities and also help all the business sectors to grow.
This word file contain all information regarding taxation in india, income tax returns, types of income tax , direct tax, indirect tax, wealth tax, income tax ,excise duty , which helps you to gain knowledge about taxation in brief, and also helps you in making internship report on taxation or income tax.
This presentation contain information regarding history of income tax, legal framework, tax collection bodies, types of tax, income tax, canons of taxation and definition for the term assesse, person, previous year, assessment year, income, total income and gross total income and agriculture income as per IT act 1961
This is a brief Analysis of KRBL Limited.
It includes Introduction of Company, History of the Company and Details of All Branded Rice of KRBL Limited with SWOT Analysis
Special Economic Zone is the most discussed and disputed topic in India. For the economic development and to encourage export of various things and to take place in globalization all the countries are contributing themselves and trying for it consciously and SEZ is one of the parts of this. All over the opposition to SEZ, but for financial development, export growth, increase employment of the country, SEZ is essential. Government has passed special SEZ Act and implementation is doing. It is necessary to see the SEZ in positive view. SEZ projects should be started in backward area for
development of regional equilibrium. SEZ have been acquired land from the farmers, government should be done rehabilitation and included them as shareholders of the SEZ projects as well as the family members of the farmers should be reserved some vacancies of employment. Employment should be provided to the local workers, for existence of SSI to prepare list of articles of SSI, to limitations of maximum land acquired for SEZ etc. options should be considered by Government then farmers are helping to SEZ and economic development is done through SEZ.
in this presentation , explained about one person company.
it's a new concept which includes some feature of sole trading concern and some features of a company.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
2. INTRODUCTION
• Taxes in India are levied by the Central Government and the state
governments.
• Some minor taxes are also levied by the local authorities such as
the Municipality.
• The authority to levy a tax is derived from the Constitution of
India which allocates the power to levy various taxes between
the Central and the State.
3. CONTINUE……..
• An important restriction on this power is Article 265 of the
Constitution which states that "No tax shall be levied or collected
except by the authority of law".
• Therefore, each tax levied or collected has to be backed by an
accompanying law, passed either by the Parliament or the State
Legislature.
4. CONSTITUTIONALLY ESTABLISHED SCHEME
OF TAXATION
• Article 246 of the Indian Constitution, distributes legislative
powers including taxation, between the Parliament of India and
the State Legislature. Schedule VII enumerates these subject
matters with the use of three lists:
• List - I entailing the areas on which only the parliament is
competent to make laws,
• List - II entailing the areas on which only the state legislature can
make laws, and
• List - III listing the areas on which both the Parliament and the
State Legislature can make laws upon concurrently.
5. WHAT IS TAX?
• Tax, in general, is the imposition of financial charges upon an
individual or a company by the Government of India or their
respective state or similar other functional equivalents in a state.
• The computation and imposition of the varied taxes prevalent in
the country are carried on by the Ministry of Finance’s
Department of Revenue.
7. DIRECT TAX
• Direct Taxes are the taxes that are levied on the income of
individuals or organisations.
• Income tax, corporate tax, inheritance tax are some instances of
direct taxation.
• Income tax is the tax levied on individual income from various
sources like salaries, investments, interest etc.
• Corporate tax is the tax paid by companies or firms on the
incomes they earn.
8. INDIRECT TAX
• Indirect taxes are those paid by consumers when they buy goods
and services.
• These include excise and customs duties.
• Customs duty is the charge levied when goods are imported into
the country, and is paid by the importer or exporter.
• Excise duty is a levy paid by the manufacturer on items
manufactured within the country. Usually, these charges are
passed on to the consumer.
9. LIST OF DIRECT TAXES IN INDIA
• Income Tax
• Corporate Tax
• Wealth Tax
10. INCOME TAX
• Income tax is the most common and most important tax that an
Indian must pay.
• It is charged directly on the income of a person.
• The rate at which it is charged varies, depending on the level of
income.
• It’s charged to individuals, co-operative societies, firms, companies,
Hindu Undivided Families (HUFs), trusts and any artificial judicial
person.
• Income tax is charged on an income known as “taxable income”,
which is:
• Taxable income = (total income) – (applicable deductions and
exemptions).
11. HEADS OF INCOME
1. Income from house and property.
2. Income from business or profession.
3. Income from salaries.
4. Income in the form of capital gains.
5. Income from other sources.
• It is levied differently for different people depending on their
residency status.
12. CONTINUE……..
• For individual residents under 60 years of age
INCOME SLAB TAX RATE
Below ₹ 2,50,000 Nil
₹ 250,000 To ₹ 5,00,000 10 %
₹ 5,00,000 To ₹ 10,00,000 20 %
Above ₹ 10,00,000 30 %
13. CONTINUE……..
• For individual residents between 60 and 80 years of age
INCOME SLAB TAX RATE
Below ₹ 3,00,000 Nil
₹ 3,00,000 To ₹ 5,00,000 10 %
₹ 5,00,000 To ₹ 10,00,000 20 %
Above ₹ 10,00,000 30 %
14. CONTINUE……..
• For Individual residents above 80 years of age
INCOME SLAB TAX RATE
Below ₹ 5,00,000 Nil
₹ 5,00,000 To ₹ 10,00,000 20 %
Above ₹ 10,00,000 30 %
15. CORPORATE TAX
• Levied on companies who exist as separate entities from their
shareholders.
• Foreign companies are taxed on income that arises, or is deemed
to arise, in India.
• It is charged on royalties, interest, gains from sale of capital
assets located in India, fees for technical services and dividends.
16. CONTINUE……..
• Includes Minimum Alternative Tax (MAT) which was introduced to
bring Zero Tax companies under the income tax net, whose accounts
were made in accordance with the Companies Act.
• Includes Fringe Benefit Tax (FBT) which is a tax that companies pay
on the fringe benefits provided (or deemed to have been provided) to
employees.
• Incudes Dividend Distribution Tax (DDT) which is a tax levied on any
amount declared, distributed or paid as dividend by any domestic
company. International companies are exempt from this tax.
• Includes Securities Transaction Tax (STT) which is a tax levied on
taxable securities transactions. There is not surcharge applicable on
this.
17. RATES
1. For domestic companies
• The Corporate Tax rate for domestic companies is 30%.
• If the company does not have an income of over Rs.1 crore, then
it does not have to pay any corporate income tax.
• If the net income of the company is in the range of Rs.10 crore, a
surcharge of 5% is applicable on the net income.
• If the net income of the company exceeds Rs.10 crore, a
surcharge of 10% is applicable on the net income.
18. CONTINUE……..
2. For international companies
• That are earning less than 1 crore rupees, a corporate tax of
41.2% is applicable – inclusive of 40% basic tax and an
education cess of 3%.
• That are earning more than 1 crore rupees, a corporate tax of
42.024% is applicable – inclusive of 40% basic tax, 3% education
cess and a 2% surcharge.
• That are earning more than 10 crore rupees, a surcharge of 5% is
applicable in addition to basic tax.
19. CONTINUE……..
3. Minimum Alternative Tax (MAT) is presently charged at
19.05%.
4. Dividend Distribution Tax (DDT) is charged at a rate of
16.995% on declared dividends.
20. WEALTH TAX
• Wealth tax is charged on the benefits derived from property
ownership.
• The same property will be taxed every year on its current market
value.
• Wealth tax is charged whether the property in earning an
income or not.
• The tax is levied on the individuals, HUFs, and companies alike.
• Chargeability depends on residential status.
21. THE FOLLOWING WILL NOT BE TAXED AS THEY
ARE “WORKING ASSETS”
• Assets held as stock in trade.
• Property held as a commercial complex.
• Gold deposit bonds.
• House property held for business or profession.
• House property let out over 300 days in a year.
22. RATES
• Is charged on the net wealth, which is sum total of all taxable
assets clubbed together, minus the amount of debt owed.
• Net wealth = (All assets) – (all debt).
• The valuation date for net wealth is 31st March immediately
preceding the assessment year.
• Wealth tax is charged at 1% of the amount by which the net
wealth exceeds Rs.15,00,000 (15 lakhs).
• Wealth tax has been abolished (with effect from April 1, 2016 for
wealth held as on March 31, 2016)
23. CAPITAL GAINS TAX
• Taxed on the income derived from the sale of assets or
investments.
• Capital investments cover homes, farms, businesses, works of
art, etc.
• Capital gains = (money received from sale) – (cost of capital
investment).
24. CONTINUE……..
• Categorized as short-term gains (gains on assets sold within 36
months of acquisition) and long-term gains (gains on assets sold
after 36 months of acquisition and holding).
• Voluntary tax that is paid by the taxpayer when the asset it sold.
25. RATE
• Short term capital gains are taxed as per the normal income tax
slab rates.
• Method of indexation using the cost inflation index will be done
to the cost of acquisition and the cost of improvement, and the
resultant figures will be used for computation.
• Long term capital gains are taxed at 20% if computed with the
benefit of indexation.
• Long term capital gains are taxed at 10% if computed without
the benefit of indexation.
26. LIST OF INDIRECT TAXES IN INDIA
1. Customs duty
2. Excise duty
3. Service Tax
4. Sales Tax
5. Value Added Tax (VAT)
6. Securities Transaction Tax (STT)
7. Octroi duty
8. Entertainment tax
27. 1. CUSTOMS DUTY
• Customs duty is a tax collected on goods imported into or
exported out of the boundaries of a country.
• Customs duty now forms a significant source of revenue for all
countries, more so in the case of developing countries like India.
• In India, customs duty is levied on goods imported and at the
rates specified in the Schedules to the Customs Tariff Act, 1975.
28. 2. EXCISE DUTY
• The excise duty is tax on articles produced or manufactured in
the taxing country and intended for home consumption.
• Excise duty is an indirect duty which the manufacture or
producer passes on the ultimate consumer.
• The Central Excise duty is collected under the authority of the
Central Excise Act, 1944, at the rates specified under Central
Excise Tariff Act, 1985.
29. 3. SERVICE TAX
• Service Tax is a central tax imposed on consumers of selective
services and is the latest addition to the genus of indirect taxes
like customs and central excise duty.
• Service tax is levied at the rate of 14% of the value of the taxable
service provided.
• Service tax is recoverable from the customer as a part of the
consideration received towards rendering the service.
30. CONTINUE……..
• Service tax is a tax levied by the Central Government on the following
services:
• Stock broking services
• Telephone services
• Insurance
• Insurer services
• Advertising services
• Radio paging services
• Courier services.
31. 4. SALES TAX
• Sales tax is levied on the sale of moveable goods in India at rates
which vary depending upon the type and nature of goods and the
state in which the sale has taken place.
• The Central and State Government are both empowered to
impose sales tax on transactions involving sale of moveable
goods.
• Sales Tax in India is a form of tax that is imposed by the
Government on the sale or purchase of a particular commodity
within the country.
32. 5. VALUE ADDED TAX (VAT)
• The practice of VAT executed by State Governments is applied on
each stage of sale, with a particular apparatus of credit for the
input VAT paid.
• VAT in India classified under the tax slabs are
– 0% for essential commodities,
– 1% on gold ingots and expensive stones,
– 4% on industrial inputs, capital merchandise and commodities of mass
consumption
– 12.5% on other items.
33. 6. SECURITIES TRANSACTION TAX (STT)
• STT is a tax being levied on all transactions done on the stock
exchanges.
• STT is applicable on purchase or sale of equity shares,
derivatives, equity oriented funds and equity oriented Mutual
Funds.
34. 7. OCTROI DUTY
• Octroi duty is a tax levied on the entry of goods into a
municipality or any other specified jurisdiction for use,
consumption or sale.
• Octroi duty is levied at the time when the goods enter the
municipal limits where the goods are to be ultimately sold, used
or consumed.
• Generally, octroi is borne by the purchaser.
• Goods in transit are exempted from octroi.
35. 8. ENTERTAINMENT TAX
• Entertainment tax is levied on entertainment to which persons
are admitted on payment.
• Entertainment tax is levied on different kinds of entertainment
under the applicable state legislations.
• Under the Bombay Entertainments Duty Act, 1923,
entertainment tax is levied in Maharashtra on any exhibition,
performance or amusement, to which persons are admitted for
payment.
• This tax is also applicable to cable operators.