Professional Tax Helpline Number

We are providing Professional Tax Registration, Professional Tax Enrolment, Professional Tax Returns, and Professional Tax Assessment services all over West Bengal, For more details feel free to contact us at our P. Tax Helpline Number.

Professional Tax Helpline Number in Kolkata

For Quick Support  Call- 9830017363

Our Tollygunge Office

Office Address: 5/234, Paschim Putiary, (Near Councilor Ratnasur Ji Apartment) Tollygunge, Kolkata-700041.

Visiting time: From 10:30 AM to 4:30 PM, every day except Sunday.

Nearest Metro Station: 7 minutes walking distance From Netaji Metro Station (for Kudghat area) Auto Riska services are available there. 9 minutes walking distance From Mohanayak Uttamkumar Metro Station (for Tollygunge area) Auto, Riska, Buss, Taxi services are available there.

Bus, Taxi, Auto Stop: Karunamoyee Stop (Kudghat). Use our Google map as a proper guide.

If you have any queries regarding GST Registration feel free to contact us. We will be happy to help you. To avail of our Quick Support Service, do not forget to mention that you find our contact details on the Taxmall website.

To Know More Contact Us

Contact Person : Jiban Mohanty
Mobile Number Call: 9830017363
e-Mail ID  : cajiban@gmail.com

Tax Audit Due Date for FY 2021-22 (AY 2022-23)

A tax Audit is an official authentication of books of accounts regarding transference of tax liabilities. As per the Income Tax Act of 1961, Under Section 44AB, specific categories of individuals and certain businesses, must have to do a Tax Audit once a business transaction, profit, or turnover exceeds a specified amount. 

What is the due date of the tax audit?

30th September 2022 is the due date for filing of Tax Audit report under section 44AB for the Financial Year 2021-22 relating to Assessment Year 2022-23 who is required to submit his/its return of income on October 31, 2022 

If you are looking for Tax Auditor to file Form 3CA_CDForm 3CB_CD, Feel free to contact us we will be happy to help you.

Contact Us for Tax Audit

Contact Person: Jiban Mohanty
Mobile Number: 9830017363
Office e-Mail ID: cajiban@gmail.com
Office Address: 5/234, Paschim Putiary, Kolkata-700041

 

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Types of Taxes in India

Taxes are an essential part of any nation to promote its economic growth. The taxes that we pay fill the coffers of the government, which are then utilized by it to deliver various services to the country’s population. The government has been given the authority to collect taxes by the Indian Constitution. All the taxes that we pay are backed by laws passed by either the Parliament or the State Legislature.

Now that we know what taxes are, let’s look at the type of taxes in India.

Different types of taxes

India has two types of taxes, namely Direct Tax and Indirect Tax. The core difference between both the taxes lies in their implementation.

Apart from these types of taxation, there are other taxes or cess levied by the government for specific purposes, which are – Krishi Kalyan Cess, Swachh Bharat Cess and Infrastructure Cess Tax.

Direct Tax

Direct Taxes comprise taxes that you pay directly to the government. These taxes are levied directly on an individual and therefore can’t be transferred to another entity or person. The Central Board of Direct Taxes (CBDT) under the Department of Revenue is responsible for the governance of this tax.

There are various types of Direct Taxes, which include:

Income Tax

Income Tax came into force with the Income Tax Act of 1961. All the rules of income tax are set by this act. This tax will apply to any income you generate for profits, owning a property, salary, investments or business.
Besides stipulating from where income tax is to be collected, this act has provisions that allow tax benefits for taxpayers through fixed deposits and life insurance premiums. This act also determines your position on the income tax slab.

Gift Tax

In 1958, the Gift Tax Act was originally introduced. According to the act, if you receive presents of any kind, then you will have to pay a tax of 30%. This was later tweaked to exclude gifts from families such as spouse, parents and blood relatives. If anyone else gives a gift whose value exceeds Rs. 50000, then you will have to pay tax.

Wealth Tax

Amongst the various types of taxes, Wealth Tax is applicable not only on an individual but also on a Hindu Unified Family (HUF) and businesses.

For example: If your net wealth is more than Rs. 1 crore, then you have a surcharge of 12%. Companies whose turnover exceeds 10 crores will also have to pay wealth tax.

Capital Gains Tax

This is a type of Income Tax levied on the gains you make after the sale of an investment or property. There are two types of Gains Tax – Long Term Capital Gains Tax and Short Term Capital Gains Tax. The former is applied when the holding period of the investment exceeds 36 months. The latter is applicable if the duration of the investment is less than 36 months.

Securities Transaction Tax

Share trading on the stock market is subject to this tax. For every share purchase or sale, you pay the Securities Transaction Tax.

Corporate Tax

Another type of Income Tax, the Corporate Tax is levied on the earning of businesses. An Indian firm whose turnover is less than Rs. 1 crore is not subject to this tax. There is a corporate tax slab according to which companies pay tax. Moreover, the tax structure for international firms is different from domestic firms.

Indirect Taxes

Unlike Direct Taxes, these taxes are not levied on individuals but on goods and services. This tax is not levied on profit, income or the revenue of an individual or an entity. Also, this tax can be transferred from one person to another.

Here’s a list of various types of Indirect Taxes:

Sales Tax

Any product being sold is subject to Sales Tax. The product can be either produced domestically or be imported. The government subjects the seller of the product to the sales tax, who can then pass it on to the buyer.
Sales Tax is different for different states. Also, the central government levies the sales tax. For some states, sales tax is one of their largest revenue sources.

Service Tax

Service Tax is applicable on services provided by companies. Unlike Sales Tax, it is not charged on every sale. This tax is charged with on a monthly or quarterly basis. Service providers pay this tax once their customers clear their bills.

Goods and Service Tax

The Goods and Services Tax was introduced in 2017. This tax is applied at the consumption stage. GST is applied at every stage of the supply chain wherever consumption takes place.

Value Added Tax (VAT)

VAT is levied on products other than commodities such as food and essential drugs. This tax is placed at stages in the supply chain where value is added. This tax comes under the purview of the state government.

Customs Duty

If you buy a product from a different country and import it to India, then you have to pay tax on it. This tax is called Customs Duty.

Toll Tax

Toll Tax is levied either by the state or central governments on roads and bridges. The purpose of the tax is to fund road construction and maintenance activities.

Both Direct and Indirect Taxes are essential for the economic growth of the country.

If you need our help, Feel free to contact us we will be happy to help you.

For More Information Contact Us

Contact Person: Jiban Mohanty
Mobile Number: 9830017363
Office e-Mail ID : help@taxmall.in
Office Address  : 5/234, Paschim Putiary, Tollygunge, Kolkata-700041

ITR Filing Last Date for FY 2021-22, AY 2022-23

The last date for filing ITR  for FY 2021-2022 is 31st July 2022  for taxpayers whose accounts don’t require to be audited. We advise our clients to avoid the last-minute rush and complete ITR filing as early as possible. It is said that the earlier you file ITR, the more you can relax. The ITR filing for AY 2022-23 is now available on the e-filing portal.

Section 139(1) – Mandatory and Voluntary Returns

As per Section 139(1),  in the following cases the filing of ITR is Mandatory:

I. Every person who has a total income that exceeds the exemption limit is liable to furnish Income Tax Return within the due date

II. Any private, public, domestic, or foreign country located and/or doing business in India

III. Any firm including LLP (Limited Liability Partnership) or Unlimited Liability Partnership

IV. Any resident who has an asset located outside of India (might include financial interest in some entity as well) OR any resident who retains signing authority for an account-based outside India – for all these cases Tax return needs to be filed mandatorily in the prescribed form irrespective of the amount of tax liability on those incomes

V. Every HUF (Hindu Undivided Family), AOP (Association of Persons), and BOI (Body of Individuals) – if the total income of these bodies or entities exceeds the prescribed exception limit, they are liable to file the Income Tax Return in the prescribed format with required documentation

In the following cases, the filing of an Income Tax Return is Voluntary :

In certain situations, individuals or entities are not under the compulsory requirement to file the return. In such cases, their tax filings are considered Voluntary returns, which are seen as valid tax returns.

If you need our help, Feel free to contact us we will be happy to help you.

For More Information Contact Us

Contact Person: Jiban Mohanty
Mobile Number: 9830017363
Office e-Mail ID : cajiban@gmail.com
Office Address  : 5/234, Paschim Putiary, Tollygunge, Kolkata-700041

ITR Date Extension - Income Tax Due Date Extended

ITR Date Extension - Income Tax Due Date May Be Extended

GST Annual Return Due Date or Last Date for FY 2020-21

GST Annual Return Filing Last Date for FY 2021-22

GST Due Date Extension for GSTR 9 GSTR 3B GSTR 1

GST Due Date Extension for GSTR 9 GSTR 3B GSTR 1 

ROC Return filing due date, Payment last date FY 2019-20

ROC e-filing actual date and extended due date

ESI Return filing due date, Payment last date FY 2020-21

ESI e-filing actual date and extended due date

EPF Return filing due date, Payment last date FY 2020-21

EPF e-filing actual date and extended due date

Professional Tax Slab in West Bengal FY 2022-23

The West Bengal professional tax slab rates for salary and wages for the FY 2022-23 are mentioned below. Salaried individuals having a monthly salary of more than INR 10,000 are liable to pay professional tax in West Bengal.

Professional Tax Slab in West Bengal on Salary / Wages

Monthly Gross Salary          P.Tax Amount
Up to Rs.10,000 Nil
Rs. 10,001 to Rs. 15,000 Rs. 110
Rs. 15,001 to Rs. 25000 Rs. 130
Rs. 25,001 to Rs. 40,000 Rs. 150
Above Rs. 40,000 Rs. 200

 

Note:-  Salary and wages shall include - Pay, Dearness Allowance, and any other amount paid by way of allowance, all remunerations received on a regular basis whether payable in cash or kind; honorarium, perquisites, and profit in lieu of salary as defined in Section-17 of the Income Tax Act, 1961.

Remember: Encashment of leave amount (excluding payable on retirement or on the death of the employee); subsistence allowance, leave concessional pay. Salary and Wage shall not include Medical reimbursement, traveling allowance, reimbursement of conveyance charges, the stipend paid to the trainee, salary paid to apprentice under the Apprentices Act, leave travel assistance payment, statutory Bonus, gratuity, lay of compensation an ex-gratia payment. Pension granted to an employee is not salary and hence pensioners are not liable to pay Profession Tax on the pension.

Profession Tax will be paid online through “GRIPS” (web portal of the Finance Department, Government of West Bengal). For registered employers, the professional tax will be paid monthly. If an employer fails to pay tax, within the due time, he shall be liable to pay simple interest @ 1% per month or part thereof, on due tax.

Disclaimer: Rates given above are updated on 23 June 2022 to the best of our information. There may be variations due to updates by the government. Kindly note that we are not responsible for any incorrect information. If you need information about the "Effective Date" then please consult with our professional tax experts.

If you need our help, Feel free to contact us we will be happy to help you.

For More Information Contact Us

Contact Person: Jiban Mohanty
Mobile Number: 9830017363
Office e-Mail ID : cajiban@gmail.com
Office Address  : 5/234, Paschim Putiary, Tollygunge, Kolkata-700041