Taxation

Posts

How to get back income tax refund in your account if wrongly credited in someone else's account?

What to do when your refund has been credited to Someone else's account by mistake or in case you have entered wrong account number while filing your return of income and after processing your return if Income tax department has issued refund in that particular account?? Below are few steps you can follow to get your refund back in your account only:- Firstly, check whether your refund has been paid or not. You can check it on online Refund Status Site. After checking it, if you find the status that refund has already been paid and on verification of your bank statement or pass book entries you found that no amount is credited in your account, you need to do as below. Send your each and every details to below E-mail ids:- agmgb.cmp@sbi.co.in itro@sbi.co.in Your mail should include below details:- 1) Screenshot of refund status from online Refund Status site 2) Screenshot of account number mentioned in the return form. you can get your return f

Are you eligible for schemes under ambitious Startup Action Plan?

Announcements made by Prime Minister Narendra Modi as part of the Startup India Action Plan. There’s no doubt the measures were significant, but it follows with few questions, are all the startups really eligible for the benefits that were announced ? Just answer all the below questions and you will come to know whether you are eligible or not ? (Please note that the following questions are specifically applicable for startups seeking tax exemption): 1. Are you a Private Limited CO. / LLP / Partnership Firm ? Yes No 2. Are you running a business which has not reached at the age of 5 Years ? Yes No 3. Is you turnover less than 25 Crores? Yes No 4. Are you going to / is developing a innovative product which is adding value of customers and is commercial ? Yes

Gift U/s 56(2)

Following is the list of relations from whom you can accept Gift U/S 56(2). Defination of Relative u/s 56(2):- Spouse of Individual Brother & Sister of Individual Brother & Sister of Spouse of Individual Brother & Sister of either of the parents of Individual Any Lineal ascendants or descendants of the individual Any Lineal ascendants or descendants of the spouse of the individual. Above maybe tough to understand, check below pics i have tried my best to make it simple. Please check clubbing provisions before advising anyone or taking decision. If you are using an android device you can use our app for the same. Get the app through below link:- https://play.google.com/store/apps/details?id=darshan.shiv.bhavin.giftrelative Please find attached pics:- Our apps:- Gift Tax U/s 56(2) Capital Gain Calculator Results My Other blogs :- sukanya samriddhi account Values/things that will defi

sukanya samriddhi account

The below is just an addition to your knowledge about SSA (sukanya samriddhi account). After going through the whole sukanya samriddhi account scheme I noticed some imp points which one should think on before opening it. 1. The interest rate in this account is 9.20% (Rates may change every year) which is highest compared to all such small schemes. 2. U can deposit money till 14 years from the date of opening an account. I.e. date of account opened :- 1-4-2015 then u can deposit till 1-4-2028 . 3. Maturity of account is after 21 years from the date of opening of account. I.e. date of account opened:- 1-4-2015 then maturity date is 1-4-2035 , till that time u cannot withdraw money except in two cases as follows:- a.) if the girl turns to 18years old then 50% of balance can be withdrawn. b.) on the occasion of marriage u can withdraw whole amount and close the account. 4. Min deposit of Rs.1000 per year is compulsory. 5. Amount deposited in this account is exempt u/s 80c