HOW TO LINK AADHAAR TO PAN

HOW TO LINK AADHAAR TO PAN

As per latest notification of Income Tax Department, the extended date to link aadhaar to pan is 31.03.2018. Before this date, every pan holder have to link his PAN card with aadhaar number. In case, if you have not linked your aadhar  card to PAN  than you will not be able to file your Income tax return. To avoid this situation , please follow the following steps to know how to link aadhaar to pan  :

Step 1

Visit income tax department official website https://incometaxindiaefiling.gov.in/ . In the left side you will find link Aadhaar under the quick links . Please click Link Aadhaar.

aadhaar-pan-link-1 HOW TO LINK AADHAAR TO PAN

STEP 2

Enter your PAN number, Aadhaar number, name as per aadhaar and click the button link aadhaar for verification. It will take few seconds to verify your aadhaar details from UIDAI (Aadhaar website) and if every thing is ok, your pan card will link to adhar card .

In case , if there is minor mistake than OTP will be required to verify your data. In case, If there is major difference in data like different date of birth in pan card and aadhaar card , then you will not be able to link your aadhaar with pancard.

Note : Please be cautious while entering your details. All the details should be perfect in all terms. Like your name , date of birth on pan card should match with your aadhaar database.

aadhaar-pan-link-2 HOW TO LINK AADHAAR TO PAN

 

List of pan centers and aadhaar centers

1. For PAN Center : https://www.tin-nsdl.com/tin-facilities.html
2. For Aadhaar Center : https://aadharcarduid.com/aadhaar-card-center

However, you can also apply for the new pan card or correction in pan card through http://www.etdsdsc.com/Apply-for-PAN-Card-New-OR-Correction.html 

In case your pan card is registered at https://incometaxindiaefiling.gov.in/ then you can not link your pan card with the help of above 2 steps. There is a different manner for registered pan holders . Please follow the below steps to link your pan card with aadhaar card :

Step One :
Visit income tax department official website https://incometaxindiaefiling.gov.in/ . Click the link Login here and enter your login credentials .

aadhaar-pan-link-3 HOW TO LINK AADHAAR TO PAN

aadhaar-pan-link-4 HOW TO LINK AADHAAR TO PAN

Step 2

Just after login , you will see pop up screen with a heading of link aadhaar . Enter your aadhaar details like name as per aadhaar card and aadhaar number . It will take few seconds to verify your aadhaar details from UIDAI (Aadhaar website) and if every thing is ok, your pan will link to your aadhaar card.

aadhaar-pan-link-5 HOW TO LINK AADHAAR TO PAN

In case if you are not able to see the above image, please click link aadhaar option  under Profile Setting

aadhaar-pan-link-6 HOW TO LINK AADHAAR TO PAN

 

Enter your aadhaar details like name as per aadhaar card and aadhaar number and click Link Aadhaar and It will take few seconds to verify your aadhaar details from UIDAI (Aadhaar website) and if every thing is ok, your pan will link to your aadhaar card.

aadhaar-pan-link-7 HOW TO LINK AADHAAR TO PAN

By follow the above easy steps your can pan card will link with aadhar card

The NSDL guidelines for applying PAN card online.

(a) An applicant will fill Form 49A online and submit the form.

(b) A confirmation screen with all the data filled by the applicant will be displayed.

(c) The applicant may either edit or confirm the same.

(d) On confirmation, an acknowledgement will be displayed. The acknowledgement will contain a unique 15-digit acknowledgement number.

(e) The applicant is requested to save and print this acknowledgement.

(f) ‘Individual’ applicants should affix two recent colour photographs with white background (size 3.5 cm x 2.5 cm) in the space provided in the acknowledgement. The photographs should not be stapled or clipped to the acknowledgement. The clarity of image on PAN card will depend on the quality and clarity of photograph affixed on the acknowledgement.

(i) AADHAAR

In case Aadhaar number of Individual applicant is entered in the application form, then proof of Aadhaar along with supporting documents is to be submitted to NSDL e-Gov.
If copy of Aadhaar is selected as Proof of Identity/Address/date of birth, then it is mandatory to enter Aadhaar number.
In case applicant is ‘MINOR’, Aadhaar of minor should be mentioned in the application form. (i.e. Do not mention Representative Assessee’s Aadhaar number)
Aadhaar number (if provided) would be authenticated using applicant’s details as mentioned in application form.
(j) If communication Address is within India
(i). The fee for processing PAN application is 110.00[ (Application fee 93.00 + 18.00% Goods & Services Tax].
(ii). Payment can be made either by
Demand Draft
Credit Card / Debit Card
Net Banking

(iii). If any of addresses i.e. office address or residential address is a foreign address, the payment can be made only by way of Credit Card / Debit card and Demand Draft payable at Mumbai.

(1) If communication Address is outside India
(2) The fee for processing PAN application is 1020.00[ (Application fee 93.00 + Dispatch Charges 771.00) + 18.00% Goods & Services Tax].
(3). Payment can be made only by way of Credit Card / Debit card and Demand Draft payable at Mumbai.
(4). At present the facility for dispatch of PAN cards outside India is available for a select list of countries.

Things you should know about the Permanent Account Number (PAN) .

Sample-PAN-Card Things you should know about the Permanent Account Number (PAN) .What is PAN?

Permanent Account Number (PAN) is unique code that acts as an identification for Indian citizens, particularly those who pay Income Tax. It is also issued to foreign investors, hence it is not acceptable as a Identity Proof of Indian citizenship. It is issued by National Securities Depository Limited (NSDL), Indian Income Tax Department under Central Board for Direct Taxes (CBDT).
The PAN is necessary for financial transactions. High-value transactions, such as buying a house or Property, Receiving TAX payable Salary etc.

Duration of Issuing PAN.

New PAN card takes approximately 15 to 20 working days. Correction of PAN card take 30 to 40 working days; however this may vary depending on the authorities.

Why PAN is Required ?

PAN incorporates finding of false exchanges, diminish tax avoidance, straight forwardness in exchanges between purchaser and Seller.
PAN is required for the bulky transactions of the currency e.g. Billing more than Fifty Thousand Rupees.
Exchanging currency at Money Exchanging Kiosk requires PAN.
Depositing more than Fifty Thousand Rupees in a single day, requires PAN.
Duplicate of PAN is required to Sale or buy motor vehicles having more than two wheels (excluding side detachable car attached to two wheeler), while Buying or Selling any property it is mandatory to have PAN card.

Documents Required while Applying for a PAN.

  1. Voter Identity Card
  2. Driving License
  3. Passport
  4. Ration Card having photograph of the applicant.
  5. Certificate of Identity in original signed by a Gazetted Officer.
  6. AADHAAR Card issued by the Unique Identification Authority of India.
  7. Central Government Health Scheme Card.
  8. Bank Certificate in original on letter head from the branch.

AADHAAR Card is mostly preferred applying for a PAN .

 

GST REQUIRES PAN VERIFICATION – Serious Problem ?

GST REQUIRES PAN VERIFICATION – Serious Problem ? 

Now-a-days GST is airing through out India. PAN verification in GST is also an important issue. In fact, GST Registration number (GSTIN) is completely based on Permanent Account Number (PAN NO.) of a dealer. GSTIN is  a 15 digit alphanumerical number. It’s first two digit is the state code (for example 08 for Rajasthan) and next 10 alphanumerical digits are the PAN Number of the dealer.

Thus, it is clear that PAN is having main role in allotment of GST Registration number  (GSTIN). This importance of PAN number has created a lot of problem during registration under GST Laws. Primarily on application for GST Registration number, PAN verification is made at the very first stage. In absence of PAN verification, a person can not get himself registered under GST Law.

Problems faced in GST Registration : Main problem was observed that PAN is mismatched while applying for registration under GST. In few cases, despite verified PAN, GST portal disapproves the PAN at later stage. Name On Pan Card  : A pan card holder may have two different names for Pan Card Record. One is the complete name in Pan Card Data base. Second is the name on Pan Card. These both name may be different. This difference creates the panic. Such facility of dual  is available only in case of Pan Card.   Conditions for PAN Verification : Only condition for PAN Verification is this that the name in PAN Card database should be matched / verified with the name filled in / submitted in GST registration application. Name on pan card is not important if it is not matching with. 

Reasons For PAN Verification Failure :

  1. If the dealer has two different names and the name on pan card is used in GST application.
  2. If dealer wants Aadhaar based verification, name on Aadhaar Card and Name on Pan Card database is different.
  3. If there is minor difference in spelling and gaps in words of name.
  4. Dealer has applied for Pan Correction during this application process.
  5. If every thing is all right, there may be technical problem with GST portal.

puremaal-ad-1 GST REQUIRES PAN VERIFICATION – Serious Problem ?

 Solution for Successful PAN Verification :

  1. During registration process, don’t apply for correction in Pan Card.
  2. Check / verify correct name as per Pan Card data base.
  3. Use the name exactly as per Pan Card data base.
  4. If you opting for Aadhaar based verification, name and Date Of Birth should match 100% with Aadhaar Card also.
  5. Don’t worry if your pan data is all rights but GST portal is mistaking.

No Sales on Sunday And Holidays According to the GST Rules?

No Sales on Sunday And Holidays According to the GST Rules?

A seminar (GST Solution Seminar) was organized  to resolve GST Problems by the Bharatiya Kardata Sangh, Sumerpur at Sumerpur (Rajasthan). A strange and prudent question was asked in Zero Hours of this seminar, ” Whether  According to the GST rules, the sale of goods has been banned on Sundays and holidays? 

GST Planning, GST Problems and Solutions, use of Police in Income-tax Search and Survey were discussed in this seminar held at  Sumerpur, Rajasthan. In this Seminar, Chief Guest of the program Mr. B.L. Chauhan, ​​GST registration of Gujarat Incharge Officer , Ahmedabad area, CA K. C. Moondra and CA Mukul Moondra  put their detailed  in the program. During the ‘Zero Hours’, a long question-answer session was caaried out in which a strange question was asked whether according to GST Rules, sale on Sundays and holidays has been banned?

In support of this question the questioner said that as per Rule 149 of Central GST Rules, a dealer can not sell goods  on Sundays, Recognized Holidays and Notified Holidays). In response to this question, CA Mukul Moondra explained in detail that through the Rule 149 of Central GST Rules , a  restriction has been imposed but this restriction is not against the general merchant. CA Mukul Moondra clarified that no such restriction has been imposed as it is being understood, therefore traders should not worry about it.

CA Mukul Moondra drawn the attention of all the participants towards the provision of rule 149 which is as under to resolve the confusion – 

149. Prohibition against sale on holidays.- No sale under the rules under the provision of this chapter shall take place on a Sunday or other general holidays recognized by the Government or on any day which has been notified by the Government to be a holiday for the area in which the sale is to take place

From the aforesaid provision, it clearly appears that on Sunday and holidays the sale of GST law has been banned so that traders are worried. This provision has also been inserted  in a hasty manner by imitating anything which has no justification. This provision also shows that there is a complete lack of seriousness in making GST law.

puremaal-ad-1 No Sales on Sunday And Holidays According to the GST Rules?

Explaining this rule, CA Mukul Mundra said that the said rule 149 under Chapter XVIII of the of Central G.S.T. Rules, 2017, comes under the head / chapter  “Demands and Recovery”, which is related only to outstanding demands and realization, which has nothing to do with regular business. This fact has been clarified in the provision of rule 149 which our readers can see, read and understand above.

This question was started with a WhatsApp messages, therefore, CA Mukul Munda warned all the traders that they should  not make any opinion on the basis of such Whatsapp messages. He also said that now-a-days, whatsapp has become a tool to spread any false and fake things and therefore, businessman should not believe such whatsapp message and they should take advice of their Tax Consultants.

Report : Manish Mewara

IMG_20170807_093937_221 No Sales on Sunday And Holidays According to the GST Rules?

Various GST Penalties

Various GST Penalties

It is important to know that GST registration numbers are also based on PAN (Permanent Account Number) allotted in Income-tax Act, 1961. In GST, too many provisions of penalties have been made as made in existing VAT laws of various states. Such penalty provisions are made  in almost every tax-law. Since this GST law is a mixture of excise, service tax and VAT law, the heavy penalties of all laws have been imported into this law. But the number of GST penalties in this law is very high in numbers and in quantum in addition to the provisions of imprisionment.

There are numerous GST penalties and therefore, we have divided such penal provisions under various categories – 

  1. GST Penalties for Small Offences,
  2. GST Penalties Relating to Returns, 
  3. GST Penalties for Other Statements etc., 
  4. GST Penalties Relating to Transportation, 
  5. Provisions Relating to Seizure of Goods and Vehicles, 
  6. Heavy GST Penalties relating to Tax Evasion and  
  7. Offences by Government Authorities and their Associates.

(1) GST Penalties for Small Offences

puremaal-ad-1 Various GST Penalties

Section Why GST Penalties ? GST Penalties / Punishment
122 (1)

(i)

A taxable person who supplies any goods or services or both without issue of any invoice or issues an incorrect or false invoice; Rs. 10,000/- or an amount equivalent to the tax evaded, whichever is higher.
(ii) A taxable person who issues any invoice or bill without supply of goods or services or; Rs. 10,000/- or an amount equivalent to the tax evaded, whichever is higher.
(iii) A taxable person who collects any amount as tax but fails to pay the same beyond a period of 3 months from the due date; Rs. 10,000/- or an amount equivalent to the tax evaded, whichever is higher.
(iv) A taxable person who collects any tax in contravention of the provisions of this Act but fails to pay the same to the Government beyond a period of three months from the due date; Rs. 10,000/- or an amount equivalent to the tax evaded, whichever is higher.
(v) A taxable person who fails to deduct the tax in accordance with the provisions or deducts an amount which is less than the amount required to be deducted or where he fails to pay to the Government the amount deducted as tax; Rs. 10,000/- or the tax not deducted or short deducted or deducted but not paid to the Government, whichever is higher.
(vi) A taxable person who fails to collect tax in accordance with the provisions of sub-section (1) of section 52, or collects an amount which is less than the amount required to be collected under the said sub-section or where he fails to pay to the Government the amount collected as tax under sub-section (3) of section 52; Rs. 10,000/- or tax not collected under section 52 or short collected or collected but not paid to the Government, whichever is higher.
(vii) A taxable person who takes or utilises input tax credit without actual receipt of goods or services or both either fully or partially, in contravention of law; Rs. 10,000/- or  input tax credit availed of or passed on or distributed irregularly, whichever is higher.
(viii) A taxable person who fraudulently obtains refund of tax under this Act; Rs. 10,000/-  or the refund claimed fraudulently, whichever is higher.
(ix) A taxable person who takes or distributes input tax credit in contravention of section 20, or the rules made thereunder; Rs. 10,000/- or  input tax credit availed of or passed on or distributed irregularly, whichever is higher.
(x) A taxable person who falsifies or substitutes financial records or produces fake accounts or documents or furnishes any false information or return with an intention to evade payment of tax due under this Act; Non-appealable decisions and orders. Rs. 10,000/- or amount of the tax evaded, whichever is higher.
(xi) A taxable person who is liable to be registered under this Act but fails to obtain registration; Rs. 10,000/- or amount of the tax evaded, whichever is higher.
(xii) A taxable person who furnishes any false information with regard to registration particulars, either at the time of applying for registration, or subsequently; Rs. 10,000/- or amount of the tax evaded, whichever is higher.
(xiii) A taxable person who obstructs or prevents any officer in discharge of his duties under this Act; Rs. 10,000/-.
(xiv) A taxable person who transports any taxable goods without the cover of documents as may be specified in this behalf; Rs. 10,000/- or amount of the tax evaded, whichever is higher.
(xv) A taxable person who suppresses his turnover leading to evasion of tax under this Act; Rs. 10,000/- or amount of the tax evaded, whichever is higher.
(xvi) A taxable person who fails to keep, maintain or retain books of account and other documents in accordance with the provisions.; Rs. 10,000/-
(xvii) A taxable person who fails to furnish information or documents called for by an officer as per law or furnishes false information or documents during any proceedings ; Rs. 10,000/-
  (xviii) A taxable person who supplies, transports or stores any goods which he has reasons to believe are liable to confiscation under this Act; Rs. 10,000/- or amount of the tax evaded, whichever is higher.
(xix) A taxable person who issues any invoice or document by using the registration number of another registered person; Rs. 10,000/- or an amount equivalent to the tax evaded, whichever is higher.
(xx) A taxable person who tampers with, or destroys any material evidence or document; Rs. 10,000/-.
(xxi) A taxable person who disposes off or tampers with any goods that have been detained, seized, or attached under this Act, Rs. 10,000/- or an amount equivalent to the tax evaded, whichever is higher.
122(2) (a) Any registered person who supplies any goods or services or both on which any tax has not been paid or short-paid or erroneously refunded, or where the input tax credit has been wrongly availed or utilized  for any reason, other than the reason of fraud or any wilful misstatement or suppression of facts to evade tax, Rs. 10,000/- or 10% of the tax due from such person, whichever is higher;
(b) Any registered person who supplies any goods or services or both on which any tax has not been paid or short-paid or erroneously refunded, or where the input tax credit has been wrongly availed or utilized for reason of fraud or any wilful misstatement or suppression of facts to evade tax, Rs. 10,000/- or the 100% tax due from such person, whichever is higher;
122(3) (a) Any person who aids or abets any of the offences specified in clauses (i) to (xxi) of sub-section (1); Max. Rs. 25,000/-
(b) Any person who acquires possession of, or in any way concerns himself in transporting, removing, depositing, keeping, concealing, supplying, or purchasing or in any other manner deals with any goods which he knows or has reasons to believe are liable to confiscation under law; Max. Rs. 25,000/-
(c) Any person who receives or is in any way concerned with the supply of, or in any other manner deals with any supply of services which he knows or has reasons to believe are in contravention of any provisions of this Act or the rules made thereunder; Max. Rs. 25,000/-
(d) Any person who fails to appear before the officer of central tax, when issued with a summon for appearance to give evidence or produce a document in an inquiry, Max. Rs. 25,000/-
(e) Any person who fails to issue invoice in accordance with the provisions of this Act or the rules made thereunder or fails to account for an invoice in his books of account, Max. Rs. 25,000/-

(2) GST Penalties Relating to Returnspuremaal-ad-1 Various GST Penalties

Section Why GST Penalties ? GST Penalties / Punishment
123. If a person who is required to furnish an information or return under section 150 fails to do so within the period specified in the notice issued under sub-section (3) thereof, Rs. 100/- for each day of delay subject to maximum Rs. 5,000/- for each such return and statement.

(3) GST Penalties for Other Statements etc.

puremaal-ad-1 Various GST Penalties

Section Why GST Penalties ? GST Penalties / Punishment
124(a)

 

If any person required to furnish any information or return under section 151, without reasonable cause fails to furnish such information or return as may be required under that section, or Shall be punishable with a fine which may extend to Rs. 10,000/- and in case of a continuing offence Rs. 100/- for each day subject to a maximum limit of Rs. 25,000/-
(b) If any person required to furnish any information or return under section 151, wilfully furnishes or causes to furnish any information or return which he knows to be false, Shall be punishable with a fine which may extend to Rs. 10,000/- and in case of a continuing offence Rs. 100/- for each day subject to a maximum limit of Rs. 25,000/-
125 Any person, who contravenes any of the provisions of this Act or any rules made thereunder for which no penalty is separately provided for in this Act, Maximum Rs. 25,000/-

 (4) GST Penalties Relating to Transportation

puremaal-ad-1 Various GST Penalties

Section Why GST Penalties ? GST Penalties / Punishment
129(1)(a) Notwithstanding anything contained in this Act, where any person transports any goods or stores any goods while they are in transit in contravention of the provisions of this Act or the rules made thereunder [where the owner of the goods comes forward for payment of such tax and penalty (in case of voluntary Surrender / Compromise)] ; (i)                  All goods,  conveyance used as a means of transport and documents shall be liable to detention or seizure,

(ii)                After detention or seizure, shall be released  on payment of the applicable tax and Penalty 100% of the tax payable and,

(iii)         In case of exempted goods, on payment of penalty amount equal to 2% of the value of goods or Rs. 25,000/- whichever is less,

(b) Notwithstanding anything contained in this Act, where any person transports any goods or stores any goods while they are in transit in contravention of the provisions of this Act or the rules made thereunder [where the owner of the goods does not come forward for payment of such tax and penalty (in absence of voluntary Surrender / Compromise)] ;  ,

 

(i)                  All goods and conveyance used as a means of transport for carrying the said goods and documents shall be liable to detention or seizure,

(ii)                After detention or seizure, shall be released, on payment of the applicable tax and penalty equal to the 50% of the value of the goods reduced by the tax amount paid thereon and,

(iii)               In case of exempted goods, on payment of an amount equal to 5% of the value of goods or Rs. 25,000/-, whichever is less.

(c) Notwithstanding anything contained in this Act, where any person transports any goods or stores any goods while they are in transit in contravention of the provisions of this Act or the rules made thereunder,

 

Detained / seized Vehicle and Goods shall be released, upon furnishing a security equivalent to the amount payable under clause (a) or clause (b) in such form and manner as may be prescribed:

(5) Provisions Relating to Seizure of Goods and Vehiclespuremaal-ad-1 Various GST Penalties

Section Why GST Penalties ? GST Penalties / Punishment
130. (1)(i) Notwithstanding anything contained in this Act, if any person supplies or receives any goods in contravention of any of the provisions of this Act or the rules made thereunder with intent to evade payment of tax; or All such goods or conveyances shall be liable to confiscation (जब्ती) and the person shall be liable to penalty under section 122.
(ii) Notwithstanding anything contained in this Act, if any person does not account for any goods on which he is liable to pay tax under this Act; or All such goods or conveyances shall be liable to confiscation (जब्ती) and the person shall be liable to penalty under section 122.
(iii) Notwithstanding anything contained in this Act, if any person supplies any goods liable to tax under this Act without having applied for registration; or All such goods or conveyances shall be liable to confiscation (जब्ती) and the person shall be liable to penalty under section 122.
(iv) Notwithstanding anything contained in this Act, if any person contravenes any of the provisions of this Act or the rules made thereunder with intent to evade payment of tax; or All such goods or conveyances shall be liable to confiscation (जब्ती) and the person shall be liable to penalty under section 122.
(v) uses any conveyance as a means of transport for carriage of goods in contravention of the provisions of this Act or the rules made thereunder unless the owner of the conveyance proves that it was so used without the knowledge or connivance of the owner himself, his agent, if any, and the person in charge of the conveyance, All such goods (माल) or conveyances (परिवहन साधन) shall be liable to confiscation (जब्ती) and the person shall be liable to penalty under section 122.
(2) Whenever confiscation of any goods or conveyance is authorised by this Act, the officer adjudging it shall give to the owner of the goods an option to pay in lieu of confiscation, such fine as the said officer thinks fit:

 

 

 

 

 

 

(i)                  Such fine leviable shall not exceed the market value (माल की कीमत) of the goods confiscated, less the tax chargeable thereon:

(ii)                Aggregate of such fine and penalty leviable shall not be less than the amount of penalty leviable under sub-section (1) of section 129:

(iii)         where any such conveyance is used for the carriage of the goods or passengers for hire, the owner of the conveyance shall be given an option to pay in lieu of the confiscation of the conveyance a fine equal to the tax payable on the goods being transported thereon.

(3) Where any fine in lieu of confiscation of goods or conveyance is imposed under sub-section (2), the owner of such goods or conveyance or the person referred to in sub-section (1), In addition, be liable to any tax, penalty and charges payable in respect of such goods or conveyance.
(5) Where any goods or conveyance are confiscated under this Act, The title of such goods or conveyance shall thereupon vest in the Government.

(6) Heavy GST Penalties relating to Tax Evasionpuremaal-ad-1 Various GST Penalties

Section Why GST Penalties? GST Penalties / Punishment
132 (1) (a) Whoever commits any of the following offences, namely:—

supplies any goods or services or both without issue of any invoice, in violation of the provisions of this Act or the rules made thereunder, with the intention to evade tax;

(i)                  in cases where the amount of tax evaded or the amount of input tax credit wrongly availed or utilised or the amount of refund wrongly taken exceeds 5.00 Crores rupees, with imprisonment for a term which may extend to 5 years and with fine (5 साल की सजा व जुर्माना);

(ii)                 in cases where the amount of tax evaded or the amount of input tax credit wrongly availed or utilised or the amount of refund wrongly taken exceeds 2.00 Crores rupees but does not exceed 5.00 Crores rupees, with imprisonment for a term which may extend to three years and with fine (3 साल की सजा व जुर्माना);

(iii)               in the case of any other offence where the amount of tax evaded or the amount of input tax credit wrongly availed or utilised or the amount of refund wrongly taken exceeds 1.00 Crores but does not exceed 2.00 Crores, with imprisonment for a term which may extend to one year and with fine (1 साल की सजा व जुर्माना);

(i)                   in cases where he commits or abets the commission of an offence specified in clause (f) or clause (g) or clause (j), he shall be punishable with imprisonment for a term which may extend to 6 months or with fine or with both (6 माह की सजा व जुर्माना).

(ii)                 Where any person convicted of an offence under this section is again (दुबारा) convicted of an offence under this section, then, he shall be punishable for the second and for every subsequent offence with imprisonment for a term which may extend to five years and with fine (5 साल की सजा व जुर्माना).

(iii)               The imprisonment referred to in clauses (i), (ii) and (iii) of sub-section (1) and sub-section (2) shall, in the absence of special and adequate reasons to the contrary to be recorded in the judgment of the Court, be for a term not less than six months.

(iv)        The offences specified in clause (a) or clause (b) or clause (c) or clause (d) of sub-section (1) and punishable under clause (i) of that sub-section shall be cognizable and non-bailable (गेर-जमानती)

(b) issues any invoice or bill without supply of goods or services or both in violation of the provisions of this Act, or the rules made thereunder leading to wrongful availment or utilisation of input tax credit or refund of tax;
(c) avails input tax credit using such invoice or bill referred to in clause (b);
(d) collects any amount as tax but fails to pay the same to the Government beyond a period of three months from the date on which such payment becomes due;
(e) evades tax, fraudulently avails input tax credit or fraudulently obtains refund and where such offence is not covered under clauses (a) to (d);
(f) falsifies or substitutes financial records or produces fake accounts or documents or furnishes any false information with an intention to evade payment of tax due under this Act;
(g) obstructs or prevents any officer in the discharge of his duties under this Act;
(h) acquires possession of, or in any way concerns himself in transporting, removing, depositing, keeping, concealing, supplying, or purchasing or in any other manner deals with, any goods which he knows or has reasons to believe are liable to confiscation under this Act or the rules made thereunder;
(i) receives or is in any way concerned with the supply of, or in any other manner deals with any supply of services which he knows or has reasons to believe are in contravention of any provisions of this Act or the rules made thereunder;
(j) tampers with or destroys any material evidence or documents;
(k) fails to supply any information which he is required to supply under this Act or the rules made thereunder or (unless with a reasonable belief, the burden of proving which shall be upon him, that the information supplied by him is true) supplies false information; or
(l) attempts to commit, or abets the commission of any of the offences mentioned in clauses (a) to (k) of this section,

puremaal-ad-1 Various GST Penalties

(7) Offences by Government Authorities and their Associates

Section Why GST Penalties ? GST Penalties / Punishment
133 (1) Where any person engaged in connection with the collection of statistics under section 151 or compilation or computerisation thereof or if any officer of central tax having access to information specified under sub-section (1) of section 150, or if any person engaged in connection with the provision of service on the common portal or the agent of common portal, wilfully discloses any information or the contents of any return furnished under this Act or rules made thereunder otherwise than in execution of his duties under the said sections or for the purposes of prosecution for an offence under this Act or under any other Act for the time being in force, He shall be punishable with imprisonment for a term which may extend to six months or with fine which may extend to Rs. 25,000/-, or with both.

 

GST-Penalties Various GST Penalties

Compiled by  CA. K.C.Moondra 

Verify TAN Number Online

Verify TAN Number Online

Verify TAN : Readers must be aware that many tax payers have to deduct income-tax at source  and / or collect income-tax at source while accepting the payment.  Such Deductor / Collector will have to obtain his TAX DEDUCTION ACCOUNT Number / TAN Number before making any such deduction / collection. Such TDS / TCS is also deposited in to bank  by mentioning it in the respective challan while depositing the TDS / TCS amount in the bank.

Any person  can verify the TAN NO. of any deductor / collector who makes TDS / TCS  by his TAN Number and  the TAN data could also be verified by Name of relevant deductor / collector till  2016 but now, this service ‘by Name’ has been terminated. And therefore, if you have TAN No., verify by TAN NO. or if you don’t have TAN No. of the relevant person, you can not know his TAN Number  by his name. One more thing to be clarified that earlier both services were FREE but Government has terminated both the services by Number and by name and therefore, now, no free service is available.

Earlier, if you had TAN No. of any person, you could have  verified the details of Deductor by filling the TAN Number and in absence of TAN No., verification could be  made by filling the Name also. But now both the FREE services have been terminated by Government of India / Income-tax Department. Now, if want to verify TAN Number of any deductor / collector, you can obtain this verification service through etdsdsc.com of Moon Soft Technologies Private Limited. Moon Soft is providing this service of TAN verification @ Rs. 20/- per TAN verification on refund policy through it’s parent website etdsdsc.com. 

On the next page (on etdsdsc.com)  after clicking here under, you will have to fill following data in your online  order before making the payment and after completing the application and making the payment @ Rs. 20/- per TAN , you will get verified data by email within one day under ordinary circumstances and maximum within 7 days in abnormal circumstances. In case of urgency, applicant may request telephonically for early disposal of his request   –

  1. Name of the Applicant.
  2. Contact No. of the Applicant.
  3. Email address of the Applicant.
  4. TAN Numbers to be verified (Maximum 10 TAN Numbers only)

VERIFY TAN 

Verifyptan.in

Pan Card Name mismatches with Pan Card Database ?

Pan Card Name mismatches with Pan Card Database ?   

Subject of this post may be surprising for readers and pan card holders. But there are many chances that Pan Card Name may mismatches with the name in Pan Card Database. Therefore, it is important to know why Pan Card Name mismatches with Pan Card Database ? This mismatch may result into some serious problems some times and therefore, necessary precautions should be taken. इस रिपोर्ट का शीर्षक शायद आपको अजीब लग सकता है. लेकिन इस बात की काफी संभावना है कि पेनकार्ड पर छपा हुआ आपका नाम पेन रिकॉर्ड से नहीं मिलता हो. जिसके कारण आपके पेन कार्ड को एकबारगी फर्जी या झूठा माना जा सकता है.

क्या पेन कार्ड झूठा या फर्जी है – यदि पेनकार्ड पर छपा हुआ आपका नाम (Pan Card Name) पेनकार्ड के सरकारी  रिकॉर्ड (डेटाबेस -Pan Card Database) से नहीं मिलता है, तो जरूरी नहीं है कि आपका पेनकार्ड झूठा या फर्जी है बल्कि पेन कार्ड पर थोड़ा नाम अलग होने बावजूद भी, आपका पेन कार्ड सही हो सकता है.

दो मामूली अलग-अलग नाम सही क्यों  – हकीकत यह है कि पेन कार्ड  का आवेदन करते समय, आवेदक को अपने दो नाम आवेदन पत्र में भरने होते है. एक पूरा नाम सरकारी रिकॉर्ड (डेटाबेस -Pan Card Database) के लिए तथा दूसरा पूरा या छोटा नाम  पेन कार्ड पर छापने (Pan Card Name) के लिए. यदि कोई भी आवेदक दोनों नाम एक समान रखता है तो दोनों जगह बिना अंतर के एक ही नाम रहेगा. लेकिन यदि दोनों नाम कुछ-कुछ अलग है तो पेन कार्ड पर अलग नाम होगा तथा सरकारी रिकॉर्ड (डेटाबेस Pan Card Database) में अलग नाम होगा (जेसे – Ramesh Chandra Jain – Ramesh C Jain) इसी स्थिति में यदि आप पेन नंबर का कभी भी डेटाबेस के साथ मिलान करेंगे तो आपको फर्क दिखेगा. इस तरह से दोनों नाम सही होते हुए भी दोनों अलग-अलग दिखेंगे जिससे आपको कई जगह परेशानी हो सकती है.

समस्या का हल क्या है – यदि मिलान / वेरिफिकेशन (PAN Verification) करने पर फर्क आता है को घबराये नहीं तथा सरकारी रिकॉर्ड (डेटाबेस – Pan Card Database)  में उपलब्ध नाम को ही सही माने. लेकिन विवाद से बचने के लिए मै सभी पेन कार्ड धारको को निम्न दो सलाहे देना चाहूंगा –

  1. जब भी नए पेन कार्ड के लिए या करेक्शन के लिए या रीप्रिंट के लिए आवेदन करे, तो दोनों नाम एक ही रखे. मामूली अंतर के साथ भी दो अलग-अलग नाम उपयोग में नहीं लेवे. Always try to keep same full name on Pan Card as well as in database while applying for New Pan Card / Correction Pan Card / Reprint Pan Card.
  1. यदि वर्तमान में आपके दोनों नामो में फर्क है, आपको पेन कार्ड में करेक्शन / सुधार के लिए आवेदन करके, दोनों नाम एक समान (100%) करवा लेने चाहिए. If there is difference in both the names, apply for correction in name  on Pan Card and make both the name 100% identical.

Businessmen Should Beware of Budget 2017 !!

Businessmen Should Beware of Budget 2017 !!

बजट 2017 के प्रावधानों के पर नजर डालेंगे तो हर कोई कहेगा “बजट 20 17 से Businessmen सावधान हो जाइये” वरना बहुत बड़ा नुकसान एक बिज़नस मेन को भुगतना पड़  सकता है. गरीबो की इस मसीहा सरकार ने बिज़नस मेन के लिए इतने कड़क / सख्त प्रावधान बना दिए है कि “सावधानी हटी तो दुर्घटना घटी” .

एक हिन्दी अखबार ने तो यहाँ तक लिख दिया कि अब इंस्पेक्टर राज की वापसी हो सकती है ( Return Of Inspector Rule in Incometax ) . लेकिन मै यहाँ नीचे आपका ध्यान उन सख्त प्रावधानों तरफ ले जाना चाहूँगा जो कि हकीकत में Businessmen के लिए चिंताजनक है. देश का व्यापार पहले से ही मंदी की मार झेल रहा है, इन सख्त प्रावधानों से व्यापार की गति ओर धीमे हो सकती है –

  1. अब आयकर की 132(1) व धारा 132(1A) के तहत की जानी वाली सर्च (रेड) से पहले दर्ज किये जाने कारणों को किसी को भी बताने की कोई आवशयकता नहीं रहेगी जिससे आयकर अधिकारियों को फर्जीवाड़े व मनमर्जी करने की पूरी आजादी मिल जायेगी.
  1. सर्च केस में अब अधिकृत अधिकारी राजस्व हित में किसी भी सम्पति को अधिकतम 6 महीने के लिए अस्थाइ तोर पर कुर्क कर सकेंगे.
  1. अब यदि किसी सर्च केस में 50 लाख से ज्यादा की छिपी हुई आय / सम्पति पुराने वर्षो की उजागर होती है तो अधिकतम पिछले 10 वर्ष तक के केस पुन: खोले जा सकेंगे. यानी की अब इसे मामलों में कुल 11 वर्ष का कर-निर्धारण किया जा सकता है. जबकि वर्तमान में यह सीमा मात्र 7 वर्ष की ही थी. Earlier governments reduced such period from 16 years to 6 years. Now, government is increasing the period again.
  1. अब सर्वे की कार्यवाही धर्मार्थ संस्थानों (स्कूल, कॉलेज आदि) के विरूद्ध भी हो सकेगी.
  1. किसी भी आयकर रिटर्न में भूल सुधार करने के के समय में 1 वर्ष की कटोती कर दी गयी है जिससे देरी से गलती का पता चलने पर वह मामला भूल के स्थान पर कर-चोरी का बन जाएगा.
  1. बिना लेट फीस (पेनल्टी) के रिटर्न जमा कराने की मयाद घटा दी गयी है तथा 5000 की पेनल्टी की जगह 10,000/- तक की लेट फीस का प्रावधान कर दिया गया है.
  1. बिना कर-निर्धारण के धारा 143(1) में किसी का भी रिफंड बनता है तो अब सरकार राजस्व हित के बहाने रिफंड को रोक सकेगी. जिससे भ्रष्टाचार बढ़ सकता है.
  1. कोई भी व्यक्ति / व्यापारी / Businessmen किसी एक सोदे के पेटे एक दिन में 3.00 लाख या ज्यादा का भुगतान नकदी स्वीकार नहीं कर सकेगा. क़ानून के उल्लंघन पर 100% प्रतिशत पेनल्टी लगेगी.
  1. अब खर्चो के लिए 10,000 रू. से ज्यादा नकद भुगतान पर एक तरह से पाबंदी लगा दी गयी है. पूर्व में यह छूट सीमा 20,000/- रू. थी.
  1. अब पूंजीगत खर्चो के लिए 10,000 रू. से ज्यादा नकद भुगतान पर, उस डेप्रिसिएशन लायक सम्पति पर कोई डेप्रिसिएशन नहीं मिलेगा. पूर्व में ऐसी कोई शर्त नहीं थी.
  1. यदि किसी कंपनी (company in which the public are substantially interested व कुछ और मामलों को छोड़कर) की 50% से ज्यादा शेयर होल्डिंग बदल जाती है तो उस कंपनी को Loss Carry फॉरवर्ड का फ़ायदा नहीं मिलेगा.
  1. यदि कोई भी व्यक्ति किसी भी व्यक्ति को किसी प्रॉपर्टी से बेचान से सम्बंधित किसी अग्रीमेंट के लिए किसी भी राशि का भुगतान करता है तो उस राशि पर 10% की दर से TDS की कटोती TDS जमा कराना होगा. कोई न्यूनतम सीमा नहीं रखी गयी है.
  1. TCS – यदि जिससे TCS होना है, वह व्यक्ति भूलवश भी अपना सही PAN नहीं देता है तो दोगुनी रेट या 5% (जो भी ज्यादा हो) की  दर से TCS करना होगा.
  1. यदि कोई जमीन या बिल्डिंग किसी विशेष अग्रीमेंट (डेवेलोपेर्स अग्रीमेंट) के तहत ट्रान्सफर करता है तो जिस वर्ष में अग्रीमेंट के तहत बिल्डिंग का निर्माण पूरा हो जाएगा, करदाता के हिस्से पर उस वर्ष की स्टाम्प ड्यूटी वैल्यू पर, उस वर्ष में कैपिटल गेन की आय पर बिना माल बेचे ही tax लगेगा.  इस प्रावधान से रियल एस्टेट मार्किट को धक्का लगेगा.
  1. अनलिस्टेड shares के ट्रान्सफर पर कैपिटल गेन की गणना के लिए सरकारी फोर्मुले से fair market वैल्यू की गणना की जायेगी जिससे भ्रष्टाचार को बढ़ावा मिलेगा.
  1. यदि कोई भी व्यक्ति (Individual) या HUF किसी भी व्यक्ति को रू. 50,000/- मासिक किराये से ज्यादा भुगतान करता है तो ऐसे प्रत्येक व्यक्ति (Individual) या HUF को 5% दर से TDS की कटोती कर TDS जमा कराना होगा.

सीए के.सी.मूंदड़ा (CA. K.C.Moondra)

Budget-Finance-Bill-2017 Businessmen Should Beware of Budget 2017 !!

Incometax Rebates / Deductions / Rates – Budget 2017

Incometax Rebates / Deductions /  Rates – Budget 2017

‘Moon Soft’ ने बीड़ा उठाया है कि सरल भाषा में संक्षिप्त रूप से भारत सरकार के वितीय  बजट – 2017 के आम करदाता से जुड़े आयकर प्रावधानो को सभी पाठको के लिए प्रस्तुत किया जाए. इस श्रंखला के अभी तक कई लेख प्रकाशित हो चुके  है. आज विशेष रूप से बजट में Incometax Rebates / Deductions /   Rates – Budget 2017 (इनकम टैक्स रेट्स व साधारण छूटो) से सम्बंधित प्रावधान का  जिक्र करेंगे . साथ ही पेनल्टी सम्बंधित प्रावधान के लिए व पूर्व प्रकाशित लेखो के  सम्बंधित लिंक पर क्लिक करके  पूर्व प्रकाशित कुछ अन्य प्रावधान भी पढ़ सकेंगे. बाके बचे हुए प्रावधानों पर भी अगले एक-दो दिन में चर्चा की जायेगी.

परिवृतित व नए  प्रावधान काफी ज्यादा है, अत: सरलता से समझने व पढ़ने के लिए के लिए सभी प्रावधानों को निम्न कुछ बिन्दुओ में बांटा गया है जिनको बारी बारी से सभी पाठक पढ़ सकेंगे –

    1. वेतन से आय सम्बंधित प्रावधान (यहाँ पर क्लिक करके पढ़ सकते है)
    2. हाउस प्रॉपर्टी आय से आय सम्बंधित प्रावधान
    3. बिज़नस इनकम से सम्बंधित प्रावधान (यहाँ पर क्लिक करके पढ़ सकते है)
    4. कैपिटल गेन्स आय से सम्बंधित प्रावधान (यहाँ पर क्लिक करके पढ़ सकते है)
    5. अन्य स्रोतों से आय सम्बंधित प्रावधान
    6. Incometax Rebates / Deductions /   Rates – Budget 2017 – इनकम टैक्स रेट्स व साधारण छूटो से से सम्बंधित प्रावधान (यही नीचे पढ़े)
    7. पेनल्टी व अन्य गंभीर प्रावधान (यहाँ पर क्लिक करके पढ़ सकते है)

कंपनियो, विदेशियों व कई कई मामलों का विवेचन यहां नहीं किया जा रहा है क्योकि उनमे आम करदाता के काम की बात नहीं है. लेखो की श्रंखला के इस भाग में आज इनकम टैक्स रेट्स व साधारण छूटो से सम्बंधित प्रावधान, पर विस्तृत  तुलनात्मक चर्चा  करेंगे. वेतन से आय सम्बंधित प्रावधान (यहाँ पर क्लिक करके पढ़ सकते है),  बिज़नस इनकम से सम्बंधित प्रावधान (यहाँ पर क्लिक करके पढ़ सकते है),  कैपिटल गेन्स आय से सम्बंधित प्रावधान (यहाँ पर क्लिक करके पढ़ सकते है) तथा  पेनल्टी  व  अन्य गंभीर प्रावधान  ऊपर दिए गए लिंक पर क्लिक करके पढ़ सकते है  –

A. Incometax  Rebates / Deductions 

धारा वर्तमान प्रावधान   नया प्रावधान

10(13A)

नया प्रावधान राजानीतिक पार्टियो द्वारा रू. 2,000/- से ज्यादा का चन्दा रोकड़ से लेने पर उस आय पर tax लगेगा.
80CCD वर्तमान में केंद्र सरकार के अलावा अन्य कर्मचारियों को सरकार द्वारा notified पेंसन फण्ड में जमा राशि पर कटोती मिलती थी जिसकी अधिकतम सीमा सकल कुल आय (Gross Total Income) की 10% थी. इस कटोती की सीमा को 20% तक बढ़ा दिया गया है.
80CCG

अभी तक notified equity savings scheme में अधिकतम 12,500/- की कटोती मिलती थी.

नए सिरे से यह कटोती समाप्त कर दी गयी है.

80G रू.10,000/- से ज्यादा नकदी दान (Donation) पर कटोती नहीं मिलती थी. अब रू. 2,000/- से ज्यादा नकदी दान (Donation) पर कटोती नहीं मिलेगी.
87A यदि कुल आय 5.00 लाख से कम  है तो अधिकतम  2,000/- की रिबेट इनकम-tax में से मिलती थी जिससे 2.70 तक की कुल आय पर शून्य आयकर बनता था.

यदि कुल आय 3.50 लाख से कम  है तो अधिकतम  2,500/- की रिबेट इनकम-tax में से मिलेगी जिससे 3.00  लाख तक की कुल आय पर शून्य आयकर बनेगा यानिकी यदि कुल आय 3.00 लाख तक ही है तो वह पूर्णत: आयकर मुक्त रहेगी.

115JB

Minimum Alternate Tax की कैलकुलेशन के लिए कम्पनीज एक्ट के प्रावधानों के अनुसार बुक प्रॉफिट को कंसीडर किया जाता रहा है.

Minimum Alternate Tax की कैलकुलेशन के लिए कम्पनीज एक्ट के प्रावधानों के साथ एकाउंटिंग स्टैण्डर्ड अनुसार बुक प्रॉफिट को कंसीडर किया जायेगा.

132

नए प्रावधान

(क) अब किसी भी व्यक्ति के यहाँ सर्च करने से पहले रिकॉर्ड किये जाने वाले विश्वास के कारणों को हाई कोर्ट से नीचे तक किसी को भी बताने की आवश्यकता नहीं रहेगी. यह प्रावधान भूतलक्षी प्रभाव से 1 अप्रैल 1962 से प्रभावी रहेगा.

(ख)     अब किसी भी व्यक्ति के यहाँ सर्च करने से पहले शंका के कारणों को हाई कोर्ट से नीचे तक किसी को भी बताने की आवश्यकता नहीं रहेगी. यह प्रावधान भूतलक्षी प्रभाव से 1 अक्टूबर 1975 से प्रभावी रहेगा.

(ग)     सर्च केस में अब अधिकृत अधिकारी उच्च अधिकारियों की इजाजत से राजस्व हित में किसी भी सम्पति को अधिकतम 6 महीने के लिए अस्थाइ तोर पर कुर्क कर सकेंगे.

(घ)     सर्च केस में अब अधिकृत अधिकारी किसी भी स्थाई सम्पति को धारा 142A के प्रावधानों के तहत वैल्यूएशन के लिए वैल्यूएशन ऑफिसर रेफ़र कर सकेंगे जिसे 60 दिन के अन्दर-अन्दर वैल्यूएशन रिपोर्ट देनी होगी.

(ङ)      आदि.

132A

नया प्रावधान

अब किसी भी व्यक्ति के यहाँ से कोई भी दस्तावेज, बहुमूल्य ज्वेलरी व नकदी आदि को अन्य किसी विभाग से रिकवीजिसन (मंगाने) से पहले दर्ज किये जाने वाले कारणों को हाई कोर्ट से नीचे तक किसी को भी बताने की आवश्यकता नहीं रहेगी. यह प्रावधान भूतलक्षी प्रभाव से 1 अक्टूबर 1975 से प्रभावी रहेगा.
133(6) किसी भी लंबित केस में जांच के लिए दस्तावेज आदि मंगवाने का अधिकार.

अब यह अधिकार Joint Director, Deputy Director or Assistant Director को भी होगा जो कि किसी लंबित केस के अभाव में भी नोटिस दे सकेंगे.

133A अभी तक सर्वे की कार्यवाही व्यापारिक स्थल पर ही होती थी. अब सर्वे की कार्यवाही धर्मार्थ संस्थानों (स्कूल, कॉलेज आदि) के विरूद्ध भी हो सकेगी.

B. Income Tax Rates For Assessment Year 2017-18 (Previous Year To be Ended on 31.03.2017

(I) In the case of every individual other than the individual referred to in items (II) and (III) of this Paragraph or Hindu undivided family or association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2 of the Income-tax Act, not being a case to which any other Paragraph of this Part applies,— 

S.No. Income Range Tax Rate
(1)

where the total income does not exceed Rs. 2,50,000

 Nil;
(2) where the total income exceeds Rs. 2,50,000 but does not exceed Rs. 5,00,000  5 per cent. of the amount by which the total income  exceeds Rs. 2,50,000;
(3) where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000  Rs. 12,500 plus 20 per cent. of the amount by  which the total income exceeds Rs. 5,00,000;
(4) where the total income exceeds Rs. 10,00,000 

 Rs. 1,12,500 plus 30 per cent. of the amount by  which the total income exceeds Rs. 10,00,000.

 

(II) In the case of every individual, being a resident in India, who is of the age of sixty years or more but less than eighty years at any time during the previous year,—

S.No. Income Range Tax Rate
(1)

where the total income does not exceed Rs. 3,00,000

 Nil; 
(2) where the total income exceeds Rs. 3,00,000 but does not exceed Rs. 5,00,000  5 per cent. of the amount by which the total income  exceeds Rs. 3,00,000;
(3) where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000  Rs. 10,000 plus 20 per cent. of the amount by  which the total income exceeds Rs. 5,00,000;
(4) where the total income exceeds Rs. 10,00,000   Rs. 1,10,000 plus 30 per cent. of the amount by  which the total income exceeds Rs. 10,00,000.

(III) In the case of every individual, being a resident in India, who is of the age of eighty years or more at any time during the previous year—  Rates of income-tax 

S.No. Income Range Tax Rate
(1)

where the total income does not exceed Rs. 5,00,000

  Nil; 
(2) where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000  20 per cent. of the amount by which the total  income exceeds Rs. 5,00,000; 
(3) where the total income exceeds Rs. 10,00,000 

 Rs. 1,00,000 plus 30 per cent. of the amount by  which the total income exceeds Rs. 10,00,000.

Surcharge on income-tax

The amount of income-tax computed in accordance with the preceding provisions of this Paragraph, or the provisions of section 111A or section 112 of the Income-tax Act, shall be increased by a surcharge for the purposes of the Union, calculated, in the case of every individual or Hindu undivided family or association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2 of the Income-tax Act,—

(a) having a total income exceeding fifty lakh rupees but not exceeding one crore rupees, at the rate of ten per cent. of such income-tax; and

(b) having a total income exceeding one crore rupees, at the rate of fifteen per cent. of such income-tax:

 Provided that in the case of persons mentioned above having total income exceeding,—

(a) fifty lakh rupees but not exceeding one crore rupees, the total amount payable as income-tax and surcharge on such income shall not exceed the total amount payable as income-tax on a total ncome of fifty lakh rupees by more than the amount of income that exceeds fifty lakh rupees;

(b) one crore rupees, the total amount payable as income-tax and surcharge on such income shall not exceed the total amount payable as income-tax and surcharge on a total income of one crore rupees by more than the amount of income that exceeds one crore rupees.

IV. In the case of every co-operative society,—

Rates of income-tax 

S.No. Income Range Tax Rate
(1) where the total income does not exceed Rs.10,000  10 per cent. of the total income;
(2) where the total income exceeds Rs.10,000 but does not exceed Rs. 20,000  Rs.1,000 plus 20 per cent. of the amount by which  the total income exceeds Rs.10,000;
(3) where the total income exceeds Rs. 20,000  Rs. 3,000 plus 30 per cent. of the amount by which  the total income exceeds Rs. 20,000.

Surcharge on income-tax

The amount of income-tax computed in accordance with the preceding provisions of this Paragraph, or the provisions of section 111A or section 112 of the Income-tax Act, shall, in the case of every co-operative society, having a total income exceeding one crore rupees, be increased by a surcharge for the purposes of the Union calculated at the rate of twelve per cent. of such incometax:

Provided that in the case of every co-operative society mentioned above having total income exceeding one crore rupees, the total amount payable as income-tax and surcharge on such income shall not exceed the total amount payable as income-tax on a total income of one crore rupees by more than the amount of income that exceeds one crore rupees.

V. In the case of every firm,—

Rate of income-tax

S.No. Income Range Tax Rate
(1) On the whole of the total income  30 per cent.

Surcharge on income-tax

The amount of income-tax computed in accordance with the preceding provisions of this Paragraph, or the provisions of section 111A or section 112 of the Income-tax Act, shall, in the case of every firm, having a total income exceeding one crore rupees, be increased by a surcharge for the purposes of the Union calculated at the rate of twelve per cent. of such income-tax:

Provided that in the case of every firm mentioned above having total income exceeding one crore rupees, the total amount payable as income-tax and surcharge on such income shall not exceed the total amount payable as income-tax on a total income of one crore rupees by more than the amount of income that exceeds one crore rupees.

VI. In the case of every local authority,—

Rate of income-tax

S.No. Income Range Tax Rate
(1) On the whole of the total income 30 per cent.

Surcharge on income-tax

The amount of income-tax computed in accordance with the preceding provisions of this Paragraph, or the provisions of section 111A or section 112 of the Income-tax Act, shall, in the case of every local authority, having a total income exceeding one crore rupees, be increased by a surcharge for the purposes of the Union calculated at the rate of twelve per cent.of such income-tax:

Provided that in the case of every local authority mentioned above having total income exceeding one crore rupees, the total amount payable as income-tax and surcharge on such income shall not exceed the total amount payable as income-tax on a total income of one crore rupees by more than the amount of income that exceeds one crore rupees.

VII.  In the case of a company,—

I. In the case of a domestic company,— 

S.No. Income Range Tax Rate
(i)

where its total turnover or the gross receipt in the previous year 2015-16 does not exceed fifty crore rupees;

 25 per cent. of the total income;
(ii) other than that referred to in item (i)  30 per cent. of the total income.


II. In the case of a company other than a domestic company,—

S.No. Income Range Tax Rate
(i) on so much of the total income as consists of,—

 (a) royalties received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 31st day of March, 1961 but before the 1st day of April, 1976; or

(b) fees for rendering technical services received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 29th day of February, 1964 but before the 1st day of April, 1976, and where such agreement has, in either case, been approved by the Central Government

 50 per cent.;

 

(ii) on the balance, if any, of the total income  40 per cent.

Surcharge on income-tax

The amount of income-tax computed in accordance with the preceding provisions of this Paragraph, or the provisions of section 111A or section 112 of the Income-tax Act, shall, be increased by a surcharge for the purposes of the Union, calculated,––

(i) in the case of every domestic company,––

(a) having a total income exceeding one crore rupees but not exceeding ten crore rupees, at the rate of seven per cent. Of such income-tax; and

(b) having a total income exceeding ten crore rupees, at the rate of twelve per cent. of such income-tax;

(ii) in the case of every company other than a domestic company,––

(a) having a total income exceeding one crore rupees but not exceeding ten crore rupees, at the rate of two per cent. Of such income-tax; and

(b) having a total income exceeding ten crore rupees, at the rate of five per cent. of such income-tax:

Provided that in the case of every company having a total income exceeding one crore rupees but not exceeding ten crore rupees, the total amount payable as income-tax and surcharge on such income shall not exceed the total amount payable as income-tax on a total income of one crore rupees by more than the amount of income that exceeds one crore rupees:

Provided further that in the case of every company having a total income exceeding ten crore rupees, the total amount payable as income-tax and surcharge on such income shall not exceed the total amount payable as income-tax and surcharge on a total income of ten crore rupees by more than the amount of income that exceeds ten crore rupees.

Union-Budget Incometax Rebates / Deductions /  Rates - Budget 2017