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Chief Differences between Professional Tax and Income Tax

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We often confuse with the terms Income Tax and Tax Deducted at Source (TDS) while filing our tax returns. So, before you file your returns keep a tab on certain terms to avoid any sort of confusion. The Simple Differences between Income Tax and TDS: 1) Income tax is administered on all individuals or corporates for whatever may be the income limit above the tax limit for a particular time frame.TDS, or rather tax deducted at source, here the tax is deducted at the source of income, just assuming that you have a taxable income. 2) You pay income tax based on your annual income, whereas TDS is deducted at source on a regular basis in the particular year. 3) A taxpayer is required to pay income tax on his total annual income, whereas TDS is can only be regarded as the partial contribution to his total annual income. 4) When it comes to the TDS, the payer deducts the tax and is paid to the Government by the payer on the payee’s behalf It is expec
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Professional Tax Registration Process - A Definitive Guide

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How can you start a professional tax registration process online? Well, the process is rather straightforward and outlined by the Department of Revenue in the Order NO.1/2015 ( 28th  February 2015) So, you can get it all here right from the documentation , time limits and procedure to the filing of registration applications for single premises and so on. For professional tax registration in Hyderabad , you can get help from a tax consultant in Hyderabad , or wherever you are based. They will help you out in carrying out the professional tax registration process properly.    General Procedure of Professional Tax Registration Process Online filing: Applicants who are seeking registration for single premises in service tax shall have to file the application online in the (ACES) or Automation of Central Excise and Service Tax website www.aces.gov.in in Form ST-1.  PAN is mandatory: You will also have to submit the Permanent Account Number (PAN) of the propri
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Important Steps to Include a Limited Liability Partnership

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Limited Liabilities are rising in the popularity charts in India especially among aspiring entrepreneurs. The Limited Liability Partnership Act was introduced in the year 2008. Merging the benefits of both partnership firm and a company, it provides business owners the benefits of the partnership business, which has limited liabilities, this is mainly because business is regarded as an individualized entity.    So, if you are on board and want to know more about LLP(Limited Liability Partnership) Registration in India , take a look at the following steps of business registration in India . 1. User registration – Today, most formalities are digitized and user-friendly, so how can you get yourself registered? The process is simple, register yourself in the user registration portal of the Ministry of Corporate Affairs (MCA) website. Fill up the form and click on the register button. You will be notified of your registration with a relevant message. 2. Get (DPIN)
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