Ybrant People Manpower & Consulting Private Limited

01/02/2018

I would like to see this as with the introduction of reforms like Introduction of new Scheme after a successful campaign of by giving lots of benefits in field of , and sector, .
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I would like to see this as with the introduction of following reforms:
01) Introduction of new Scheme after a successful campaign of by giving lots of benefits in field of , and sector.
02) to benefit 8 crore families by free gas from earlier target of 5 crore families.
03) Proposed Agri Credit increased to INR 11000 crore.
04) New Schemes to Fishery and Animal Husbandry crops.
05) Introduction of 1.5 times MSP to Agri Produce to all crops.
06) Subsidized machinery to process crop residual (SPL scheme to control )
07) More 51 Lakh Affordable Housing.
08) Rural Infra Allocation increase to INR 14.34 Lakh Crore.
09) New Introduced - Transform for Education Sector to move to more Digital.
10) INR 5 Lakh Medical Reimbursement to 10 crore .
11) Govt. EPF contribution of 12% for New Employees.
12) New Funds to .
13) Appreciate standard deduction of INR 40k to .
14) Deduction of 50k to under 80TTA and widening the scope of deduction by including FD Interest for them under deduction.
15) BOLD Decision - 10% tax on profit from on shares sales.
16) Double investment in .

01/01/2018

Everything Starts with a Dream 😀✨⛄
In this new year 2018, I know that you will have plans and dreams to fulfill. I believe with your effort and dedication you will accomplish all. We look forward to working with you in 2018 to contributing to your success.

We wish you a prosperous and Happy New Year! 😊🌟

From Your Friends at, www.facebook.com/SAIFinBiz/

Everything Starts with a Dream

On behalf of the entire team at SAI FinBiz Advisors LLP, I wish you a Happy New Year 2018. I hope that you able to enjoy a safe and relaxing holiday with your loved ones.

The reasons for this letter is to say "Thank You" because you helped us learn, grow and achieve all our dreams for the year 2017. In this new year 2018, I know that you will have plans and dreams to fulfill. I believe with your effort and dedication you will accomplish all. We look forward to working with you in 2018 to contributing to your success. We wish you a prosperous and Happy New Year!

From Your Friends at, www.facebook.com/SAIFinBiz/

16/07/2017

Income Tax : SAIFinBizAdvisors/012
Mandatory e-Filing of Income Tax Return with or without Digital Signature for AY 2017-18.

In continuation of my previous update via SAIFinBizAdvisors/011
Stay connected for latest updates on Personnel Taxation and Corporate Taxation :)
Email I'd : [email protected]

Income Tax : SAIFinBizAdvisors/012
Mandatory e-Filing of Income Tax Return with or without Digital Signature for AY 2017-18.

In continuation of my previous update via SAIFinBizAdvisors/011
(2) In following cases e-Filing with digital signature is mandatory:
a. Individual / HUF filing ITR-2: In all cases.
b. Individual and HUF (except individual age 80 or more using ITR-1/ITR-2) filing ITR-1, ITR-2 or ITR-4 : If income exceeding 5 lakh.
c. Individual / HUF (except individual age 80 or more using ITR-1/ITR-2) filing ITR-1, ITR-2 or ITR-4 : If any refund is claimed.
d. Individual / HUF filing ITR-2 : If deduction u/s 90, 90A or 91 claimed in return.
e. Individual / HUF filing ITR-2 : He is ordinary resident and has (i) assets (including financial interest in any entity) located outside india; or (ii) signing authority in any account located outside India; or (iii) any income outside India.
f. Firm, LLP or any other person filing ITR-5 : A firm which is not covered under audit u/s 44AB. If it is covered under 44AB then digital signature is mandatory.
g. Person other than Political Party filing ITR-7 : In all cases.
h. All persons (as applicable) : Assessee is required to furnish Electronically a report of audit specified u/s-10(23C)(iv),(v),(vi) or (via); u/s-10A, u/s-10AA; u/s-12A(1)(b); u/s-44AB, u/s-44DA, u/s-50B, u/s-80-IA, u/s-80-IB, u/s-80-IC, u/s-80-ID, u/s-80JJAA, u/s-80LA, u/s-92E, u/s-115JB or u/s-115VW or to give a notice u/s-11(2)(a) of the Act.
In case of any query/help please get in touch at [email protected]
Detailed information of Income Tax is available on www.incometaxindia.gov.in

16/07/2017

Income Tax : SAIFinBizAdvisors/011
Mandatory e-Filing of Income Tax Return with or without Digital Signature for AY 2017-18 onwards.

Stay connected for latest updates on Personnel Taxation and Corporate Taxation :)
Email I'd : [email protected]

16/07/2017

Income Tax : SAIFinBizAdvisors/010
Having Interest Income? Check if it is Taxable and where to disclose in Income Tax return form?

# Not all interest Income is exempted, and even it is exempted we need to disclose the income in ITR forms.
Stay connected for latest updates on Personnel Taxation and Corporate Taxation :)
Email I'd : [email protected]

Income Tax : SAIFinBizAdvisors/010
Having Interest Income? Check if it is Taxable and where to disclose in Income Tax return form?

We all have savings which are either invested or lying in our saving bank account. Have you ever wondered how many different type of Income from Interest you are earning? How it is taxed? If it is exempt where to show in Income Tax Return?
# With PM project of Jan dhan Yojna number of people receiving interest on saving bank account has increase in crores.
# Forget interest income on saving, most of elder individuals has invested in KVP, PF post office etc. and forgotten the investment altogether, only at the time of maturity they realize they have not shown interest income yearly and have to pay taxes on receipt basis at higher slab.
# Recently many individual has received notice from Income Tax as there is TDS deducted by Bank on Interest income, however the same is not included in total income or individual has skipped filing of income tax return thinking interest in exempted.
# Not all interest Income is exempted, and even it is exempted we need to disclose the income in ITR forms.
In case of any query/help please get in touch at [email protected]
Detailed information of Income Tax is available on www.incometaxindia.gov.in

14/07/2017

Income Tax : SAIFinBizAdvisors/009
Importance of 26AS Report, information on Basic exemptions to assessee, additional surcharge if income exceeds Rs.1crore, and taxes on companies.

-> Every Taxpayer should verify his Form 26AS.
Stay connected for latest updates on Personnel Taxation and Corporate Taxation :)
Email I'd : [email protected]

Income Tax : SAIFinBizAdvisors/009
Importance of 26AS Report, information on Basic exemptions to assessee, additional surcharge if income exceeds Rs.1crore, and taxes on companies.

-> Every Taxpayer should verify his Form 26AS.
-> Form 26AS provides the Information regarding the TDS, Advance Tax paid and details of refund.
-> Notice may be sent to the Taxpayer if the Income mentioned in Form 26AS and the Income Tax Return filed is having difference.
-> Basic Exemption Limit for individuals for FY_2016-17 is Rs.2,50,000.
-> Basic Exemption Limit for Senior Citizen i.e. above 60 years age is Rs.3,00,000.
-> Basic Exemption Limit for Super Senior Citizen i.e. above 80 years age is Rs.5,00,000.
-> If taxable income of Individual is less than Rs. 5 Lakhs then relief of Rs. 5,000/- is available in Tax.
-> Advance Tax is to be paid if Tax Liability during the year exceeds Rs.10,000 otherwise interest will be applicable.
-> 15% of Surcharge is applicable if Income Exceeds Rs.1 Crore.
-> Income Tax Return should be filed if Income exceeds Basic Exemption Limit. (before allowing any deduction under section 80C to 80U)
-> 30% of Tax applicable on Income of Partnership Firm, Company, LLP etc.
-> For Companies – Minimum Alternate Tax and for other Assesses – Alternate Minimum Tax rate is 18.5%.
In case of any query/help please get in touch at [email protected]
Detailed information of Income Tax is available on www.incometaxindia.gov.in

13/07/2017

Income Tax : SAIFinBizAdvisors/008
Some important noting points towards applicability of Income Tax in case of Long Term & Short Term Capital Gain; Gift received from stranger and tax provisions on Agriculture Income.

Stay connected for latest updates on Personnel Taxation and Corporate Taxation :)
Email I'd : [email protected]

Income Tax : SAIFinBizAdvisors/008
Some important noting points towards applicability of Income Tax in case of Long Term & Short Term Capital Gain; Gift received from stranger and tax provisions on Agriculture Income.

-> Long Term Capital Gain will arise if transfer of specified Capital Assets is made after 3 years.
-> Generally Long Term Capital Gains is taxable @ 20%.
-> STT paid Long Term Capital Gain on Shares,etc is exempt from Tax.
-> Short Term Capital Gain is Taxable @ 15% if STT is paid.
-> Capital Gain on Immovable Properties is chargeable at Stamp Duty Value or Selling Price whichever is higher.
-> Dividend received from domestic company is exempt from Tax.
-> Gifts received form stranger of an Amount exceeding Rs. 50,000 is taxable.
-> Income Tax is not chargeable on Gifts received at the time of Marriage, Will, and in case of Succession and from specified relatives.
-> Agricultural Income is exempt from Tax.
In case of any query/help please get in touch at [email protected]
Detailed information of Income Tax is available on www.incometaxindia.gov.in

13/07/2017

Income Tax : SAIFinBizAdvisors/007
Some important noting points towards applicability of TDS provisions who comes under Tax Audit u/s 44AB.

-> Late filling of TDS return attracts late filing fees of Rs. 200 per day.
Stay connected for latest updates on Personnel Taxation and Corporate Taxation :)
Email I'd : [email protected]

Income Tax : SAIFinBizAdvisors/007
Some important noting points towards applicability of TDS provisions who comes under Tax Audit u/s 44AB.

-> Tax Audit applicable assesses should deduct TDS on particular transactions.
-> TDS should be made on the date of Credit or Payment basis of whichever is earlier.
-> TDS payment should be made on or before 7th day of Next Month.
-> TDS Returns are to be filed Quarterly.
-> TDS returns can be revised any number of times.
-> TDS should be deducted and paid if applicable.
-> If TDS is not deducted then deduction of 30% of Expenditure is not allowed.
-> Late filling of TDS return attracts late filing fees of Rs. 200 per day.
In case of any query/help please get in touch at [email protected]
Detailed information of Income Tax is available on www.incometaxindia.gov.in

12/07/2017

Income Tax : SAIFinBizAdvisors/006
Got your Form 16? Prepare to file IT return!!
I would say “Bharo return early, karo relax jaldi”
Stay connected for latest updates on Personnel Taxation and Corporate Taxation :)
Email I'd : [email protected]

Income Tax : SAIFinBizAdvisors/006
Got your Form 16? Prepare to file IT return!!
It is that time of the year when you should start thinking of filing your income tax return for the last year. You should prepare well in advance to avoid any last minute hassles. If you are a salaried person it is advisable for you to collect below mentioned documents before start filing your tax return:
• TDS certificate in Form 16 (for Salaried Individuals)
• Interest cm TDS certificate in Form 16A (from your bank)
• Bank Account statements/passbook of all your bank accounts (updated)
• Details of investments made during the year / at the end of the year
• Tax Challan deposited for the last year
• Last year’s Tax Return
• Form 26AS
Due date for e-filing Income Tax Return for this year is 31st July 2017. ITR forms for AY 2017-18 (FY 2016-17) have been already announced and they are available now for filing.
I would say “Bharo return early, karo relax jaldi”
In case of any query/help please get in touch with me CA Rahul Gupta at [email protected]
Take care!!!

03/07/2017

Income Tax : SAIFinBizAdvisors/005
An individual tax payer can claim tax benefits for up to Rs.4,54,200 in addition to the tax exemption.

Stay connected for latest updates on Personnel Taxation and Corporate Taxation :)
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Income Tax : SAIFinBizAdvisors/005
An individual tax payer can claim tax benefits for up to Rs.4,54,200 in addition to the tax exemption.

Here is how you get there:
# Deductions under 80C Rs.1,50,000
# Deductions under 80CCD for contribution to NPS Rs. 50,000
# Interest on house property loan Rs. 2,00,000
# Exemption with new transportation allowance of Rs. 1,600 per month totaled to Rs. 19,200
# New deductible health insurance premium: Rs. 25,000
(Rs.30,000 if Individual is a Senior Citizen)
# Saving Bank Interest: Rs. 10,000
--> Total Rs. 4,54,200
Note: Additional Benefit of Rs. 30,000 for payment of Health Insurance Premium for Senior Citizen Parents :)
Regards, CA Rahul Gupta
Email I'd : [email protected]
Detailed information of Income Tax is available on www.incometaxindia.gov.in

25/06/2017

Income Tax : SAIFinBizAdvisors/004
Some important noting points towards applicability of Tax Audit u/s 44AB to business person's and professionals

Stay connected for latest updates on Personnel Taxation and Corporate Taxation :)
Email I'd : [email protected]

Income Tax : SAIFinBizAdvisors/004
Some important noting points towards applicability of Tax Audit u/s 44AB to business person's and professionals
# Tax Audit is compulsory if sales turnover exceeds Rs. 2 crore in case of business.
# Tax Audit is compulsory if the Gross Receipts of Professionals exceeds Rs.50 Lakhs.
# If sales turnover is below Rs. 2 crore, then net profit of 8% or higher is to be taken as business income otherwise tax audit is required.
# If Gross Receipts of professionals is below Rs. 50 Lakhs, then net profit of 50% or higher is to be taken as professional income otherwise tax audit is required.
# The Due Date for Tax Audit and income Tax Return is 30th September.
# Assessee other than Company and those exempted for Tax Audit are required to file Income Tax Return before 31st of July.

Stay connected for new updates :)
Regards, CA Rahul Gupta
Email I'd : [email protected]
Detailed information of Income Tax is available on www.incometaxindia.gov.in

25/06/2017

Income Tax : SAIFinBizAdvisors/003 --> Some important noting points while calculating and finalizing Income under the head House Property.

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Income Tax : SAIFinBizAdvisors/003
Some important noting points while calculating and finalizing Income under the head House Property:
- 30% Standard deduction is available on Income from House Property.
- Income to be considered as deemed let out on second House property.
- For Self-occupied house property, deduction of Interest on Housing Loan is allowed up to Rs. 2,00,000/- and for other (means Let-out) house property actual expenditure of Interest on Housing Loan is allowed.
- Repayment of Principal amount of Housing Loan is deductible u/s 80C up to Rs. 150,000/-

Stay connected for new updates :)
Regards, CA Rahul Gupta
Email I'd : [email protected]
Detailed information of Income Tax is available on www.incometaxindia.gov.in