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DESCRIPTION
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Professional Tax
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DEFINITION
An Act to provide for the levy & collection of tax on professionals , trade callings & employment in the state. Came into force
in 1976
FORMS
Annual Return
FORM 5
Monthly Return
FORM 5 A
DOWNLOAD FORM
http://ctax.kar.nic.in/prof_forms.htm
Monthly Return
SLAB
Amount Tax
Less than 3000 Nil
3000 - 5000 30
5000 - 8000 60
8000 - 10000 100
10000 - 15000 150
More than 15000 200
DATE OF PAYMENT
15th of succeeding month + additional 5
days grace
15th of succeeding month + additional 5
days grace
Provident Fund
To use Calculator Open this Link PF
"Employee" as defined in Section 2(f) of the Act means any person who is employee for wages in any kind of work manual or otherwise, in or in connection with the work of an establishment and who gets wages directly or indirectly from the employer and includes any person employed by or through a contractor in or in
connection with the work of the establishment.
Basic Wages" means all emoluments which are earned by employee while on duty or on leave or holiday with wages in either case in accordance with the terms of the contract of
employment and witch are paid or payable in cash, but dose not include
(A) The cash value of any food concession; (B) Any dearness allowance (that is to say, all cash payment by
whatever name called paid to an employee on account of a rise in the cost of living), house rent allowance, overtime allowance,
bonus, commission or any other allowance payable to the employee in respect of employment or of work done in such
employment. (C) Any present made by the employer.
DEFINITION
FORMS
http://epfindia.nic.
in/downloads_f
orms.htm
SLAB
Employee Rate:-
8.33% Pension Fund3.67% PF Fund
Employer Rate:-
12% Basic1.61% Admin Charges
DUE DATE
15th of Succeeding Month + 5 days of Grace
Employees State Insurance Scheme
To use Calculator Open this Link ESI
DEFINITION
The promulgation of Employees’ State Insurance Act, 1948 envisaged an integrated need based social
insurance scheme that would protect the interest of workers in contingencies such as sickness, maternity,
temporary or permanent physical disablement, death due to employment injury resulting in loss of wages or
earning capacity. the Act also guarantees reasonably good medical care to workers and their immediate
dependants.
FORMS
http://esic.nic.in/forms.htm
DUE DATE
16th of the Succeeding
month + 5 days of Grace
FORMS
http://esic.nic.in/forms.htm
DUE DATE
16th of the Succeeding
month + 5 days of Grace
SLAB
Employee:-1.75% of Basic
Employer:-4.75% of Basic
&Admin Charges
1.61%
Tax Deducted at Source
OPEN THIS LINK TO USE CALCULATOR TDS CALCULATOR
FORMS
TDS Contractors
SEC --- 194 C of Income Tax Act
RATE SLAB
Particulars Rate
Income Tax 2%
Surcharge 10%
Cess 3%
Total 2.266%
TDS Professions
SEC - 194 J of Income Tax Act
RATE SLAB
Particulars Rate
Income Tax 10%
Surcharge 10%
Cess 3%
Total 11.33%
TDS Commission
SEC - 194 H of Income Tax Act
RATE SLAB
Particulars Rate
Income Tax 10%
Surcharge 10%
Cess 3%
Total 11.33%
http://www.incometaxmumbai.n
ic.in/taxpayer/tds.htm
TDS Commission
SEC - 194 H of Income Tax Act
RATE SLAB
Particulars Rate
Income Tax 10%
Surcharge 10%
Cess 3%
Total 11.33%
TDS Rent
SEC - 194 I of Income Tax Act
RATE SLAB
Particulars Rate
Income Tax 20%
Surcharge 10%
Cess 3%
Total 22.66%
DUE DATE
7th of the succeeding
month.
Quarterly Payment:-
15th of the Succeeding
month of that particular ended
Challan no 281
Returns 24Q, 26Q & 27EQ
Challan no 281
Returns 24Q, 26Q & 27EQ
PANName:- Previous Year
Address : Assessment YearSex
TYPE (+) / (-) PARICULARS OTHERS AMOUNT
INC
OM
E F
RO
M S
ALR
AIE
S
BasicDearness Allownace
House Rent AllowanceConveyance
SodexHo AllowanceGift Coupons
Prequisities- AssetsOther Allowance
TOTAL 0
(+) Allowances Taxed if bills not produced
Medical AllowanceLeave Travel Allowance
Education AllowanceTelephone AllowanceSodexHo AllowanceClub MembershipDriver's AllowancePetrol AllowanceGROSS SALARY 0
(-) Exemptions Under Sec 10
House Rent Allowance ( 13 A )
Computation 40% of Basic + Dearness Allowanceor House Rent Allowance Receivedor Excess of Rent Paid over 10% BASIC + DAor Rent paid during the year
Note:- Whichever is least should be taken
Conveyance U/s ( 14 )Leave Travel AllownaceMedical Reimbursement 0 0
SodexHo CouponsEducation Allowances
Telephone ReimbursementGift coupons
Petrol ReimbursementDriver Reimbursement
Club membershipTOTAL EXEMPTION
NET SALARY
(-) Deduction U/S 16Professional Tax U/s 16 ( iii )
TOTAL DEDUCTIONS
TOTAL SALARY INCOME
It can be claimed 2 times in a block of 4 years ( 2006 - 2009 )
Interest repayment on higher education /
university is exempted
NOTE:- AT some places Formulae are feed into the blanks, Please do not change
those blanks as TAX COMPUTATION may go wrong.
INC
OM
E F
RO
M H
OU
SE P
RO
PER
TY
(-) Deduction under Chapter VI AU/s 80 C
Employee Contribution to Provident Fund
Max U
pto
1,0
0,0
00
Life Insurance PremiaPublic Provident Fund
National Saving Certificate VIII IssuePrinciple for Housing Loan Repayment
Payment for Tution FeesPurchase of Infrastructure Bonds
Term depositsUnder Sec 80CCC Pensions
TOTAL
Other DeductionsU/s G ( Donations )
U/s GGA ( Donations )U/s D ( Medical Insurance premia )
U/s E ( Interest on Educational Loan )U/s DD ( Medical Treatment for handicapped )
TOTAL
TAXABLE INCOME
TAX ON TOTAL INCOME(+) Surcharge(+) Educational Cess
TOTAL TAX PAYABLE
Tax Deducted at Source
ByByBy
TOTALTAX DEDUCTABLE
MONTH WISE PRORATA
EXCESS DEDUCTION
CESS BREAK UP 2% & 1%
: 2007-08: 2008-09
MALE
TOTAL FOR THE YEAR
000000000
000000000
0
00
- 00
00000000000
0
00
0
Th
is is
re
qu
ired
to
b
e fi
lled
b
y
you
According to Income Tax Act a max of 9600 can be claimed for conveyance
The amount least among the following
should be considered
This can be claimed 2 times in a block of 4 years ( 2006-2009 )
Exempted amount:- 15,000 p.a i.e. 1,250 p.m
Exemption :- 800 p.m.For Disable:- 1600 p.m.
A max of 15,000 p.a. can be claimed i.e.1250 p.m.
Children staying with parents exemption of Rs 100 p.m. , if in hostel exemption of Rs 300 p.m. with the
exemption allowed for only a max of 2 children
A Max of Rs 200 p.m. which = 2400 p.a.
DOWNLOAD FORM CLICK IN BOX BELOW
http://www.incometaxmumbai.nic.in/
taxpayer/tds.htm#http://www.incometaxmumbai.nic.in/
taxpayer/tds.htm
000000000
0
00000
0
0
000
0
00000
0 Monthly deduction of tax for the yearYou can put remaining months incase TDS already deducted
0 And you need to consider the Tax in the preceeding ROW
SURCHARGE IS APPLICABLE @ 10% if income is 10,00,000 & above
Normal Donations are exempted
Donations Towards Research & Development are exempted
Disable <80%:--- 50,000 exemptedDisable >80%:--- 75,000 exempted
Diseases:--- <65 years:---- 40,000 p.a. >65 years:---- 60,000 p.a.
Blind:---- 50,000 p.a. Exempted
IF
If above 65 years an additional 5000 can be charged which is 20,000 p .a .
Children staying with parents exemption of Rs 100 p.m. , if in hostel exemption of Rs 300 p.m. with the
exemption allowed for only a max of 2 children
Donations Towards Research & Development are exempted
Fringe Benefit Tax
DEFINITION
The Finance Act, 2005 has introduced a new levy, namely, Fringe Benefit Tax (hereafter
referred to as FBT) on the value of certain fringe benefits. The provisions relating to levy of this tax
are contained in Chapter XII-H (sections 115W to 115WL) of the Income-tax Act, 1961. This
circular seeks to provide a harmonious, purposive and contextual interpretation of the provisions of
the Finance Act, 2005 relating to the FBT so as to further the objective of this levy.
PAYMENT OF FBT
Theemployer is required to pay advance tax at the rate of
30% of the current fringe benefits paid orpayable in each quarter. The advance tax is to be paid on
or before the 15th of the month followingthat quarter. However, in the case of the last quarter
ending on the 31st of March of the financialyear, the advance tax shall be payable on or before the 15
th day of March of that year.
BREAK UP:-
(1) 20%(2) 30%(3) 30%(4) 25%
To use Calculator Open this Link FBT
The Finance Act, 2005 has introduced a new levy, namely, Fringe Benefit Tax (hereafter
referred to as FBT) on the value of certain fringe benefits. The provisions relating to levy of this tax
are contained in Chapter XII-H (sections 115W to 115WL) of the Income-tax Act, 1961. This
circular seeks to provide a harmonious, purposive and contextual interpretation of the provisions of
the Finance Act, 2005 relating to the FBT so as to further the objective of this levy.
(A) entertainment;(B) provision of hospitality of every kind to any
person, whether by way of food orbeverages or in any other manner excluding food
or beverages provided to theemployees in the office or factory or non transferable paid vouchers usable only at
eating joints or outlets;(C) conference excluding fee for participation by
the employees in any conference;(D) sales promotion including publicity but
excluding specified expenditure onadvertisement;
(E) employee welfare excluding any expenditure or payment made to fulfill any
statutory obligations or mitigate occupational hazards or provide first aid facilities in
the hospital or dispensary run by the employer;(F) conveyance tour and travel (including foreign
travel);(G) use of hotel, boarding and lodging facilities;
(H) repair, running (including fuel) and maintenance of motorcars and the amount of
depreciation thereon;(I) repair, running (including fuel) and
maintenance of aircrafts and the amount ofdepreciation thereon;
(J) use of telephone (including mobile phone) other than expenditure on leased
telephone lines;(K) maintenance of any accommodation in the
nature of guest house other thanaccommodation used for training purposes;
(L) festival celebrations;(M) use of health club and similar facilities;
(N) use of any other club facilities;
CLASSES OF FBT
Value Added Tax
Value Added Tax is levied on products sold in the state at various rates
namely 0%, 1%, 4%, 12.5%
Due Date:- 20th of Succeeding Month
under Form 100
To Download Forms Click on the Box
below
http://ctax.kar.nic.in/Final_VAT_FORMS_FOR_WE
B.doc
Service Tax
To download forms click on the box Below
http://www.servicetax.gov.in/st-formmainpg.htm
Due Date:- 5th of Succeeding
month in GAR- 7 Challan
MONTHLY
15th of the Succeeding
month in which Quarter ended
in ST-3
QUARTERLY
MONTHLY
QUARTERLY
RATE:-
Income Tax Cess
12% 3%
Total:- 12.36%
Checklist of usual statutory compliances for the month of January 2008
Month Area Obligation
5 Jan Service Tax Monthly Deposit of Service Tax from cooperate Assesses
7 Jan TDS Deposit TDS/TCS Deposit
14 Jan TDS Filling of Quarterly TDS return of NRI
15 Jan TDS Filling of Quarterly TDS/ TCS
15 Jan FBT Quarterly payment of FBT
15 Jan Service Tax Quarterly payment of service tax
20 Jan KVAT
20 Jan KVAT
20 Jan CST - Karnataka Monthly filing of the CST return in the state of Karnataka
20 Jan TNVAT
20 Jan TNVAT
20 Jan CST - TN
20 Jan APVAT
20 Jan CST - AP
31 Jan TDS Issue TDS certificate
Due Date
Deposit of TDS and filing of the TDS Return under Karnataka VAT
Monthly filing of the VAT return under the Karnataka VAT for regular dealers
Deposit of TDS and filing of the TDS Return under Tamil Nadu VAT
Monthly filing of the VAT return under the Tamil Nadu VAT
Monthly filing of the CST return in the state of Tamil Nadu
Monthly filing of the VAT return under the Andhra Pradesh VAT
Monthly filing of the CST return in the state of Andhra Pradesh
Form Notes
GAR-7 The Service tax liability of DEC to be deposited by 5th JAN
Challan 281 The TDS liability of DEC to be deposited by 7th JAN
Return No 27 The liability for quarter ended DEC to be deposited by 14th JAN
Return no:- 24Q & 26Q & 27EQ The liability for quarter ended DEC to be deposited by 15th JAN
The liability of 3rd Quarter ( OCT to DEC ) to be deposited by 15th JAN
Form ST- 3 The liability of 3rd Quarter ( OCT to DEC ) to be deposited by 15th JAN
Form 126
VAT 100 The VAT liability for the month of DEC to be deposited by 20th JAN
VAT 100 The CST liability for the month of DEC to be deposited by 20th JAN
Form T
Form I The VAT liability for the month of DEC to be deposited by 20th JAN
Form I The CST liability for the month of DEC to be deposited by 20th JAN
VAT 200 The VAT liability for the month of DEC to be deposited by 20th JAN
Form VI The CST liability for the month of NOV to be deposited by 20th DEC
Form 16 A
The liability of TDS on VAT for the month of DEC to be deposited by 20th JAN
The liability of TDS on VAT for the month of DEC to be deposited by 20th JAN
Issue TDS Certificate for tax deducted during previous month if the deductee has not opted for annual TDS certificate.
The liability of 3rd Quarter ( OCT to DEC ) to be deposited by 15th JAN
The liability of 3rd Quarter ( OCT to DEC ) to be deposited by 15th JAN
Checklist of usual statutory compliances for the month of February 2008
Month Area Obligation
5 Feb Service Tax Monthly Deposit of Service Tax from cooperate Assesee
7 Feb TDS Deposit TDS/TCS Deposit
20 Feb KVAT
20 Feb KVAT
20 Feb CST - Karnataka Monthly filing of the CST return in the state of Karnataka
20 Feb TNVAT
20 Feb TNVAT
20 Feb CST - TN
20 Feb APVAT
20 Feb CST - AP
28 Feb TDS Issue TDS certificate
Due Date
Deposit of TDS and filing of the TDS Return under Karnataka VAT
Monthly filing of the VAT return under the Karnataka VAT for regular dealers
Deposit of TDS and filing of the TDS Return under Tamil Nadu VAT
Monthly filing of the VAT return under the Tamil Nadu VAT
Monthly filing of the CST return in the state of Tamil Nadu
Monthly filing of the VAT return under the Andhra Pradesh VAT
Monthly filing of the CST return in the state of Andhra Pradesh
Form Notes
GAR-7 The Service tax liability of DEC to be deposited by 5th JAN
Challan 281 The TDS liability of JAN to be deposited by 7th FEB
Form 126
VAT 100 The VAT liability for the month of JAN to be deposited by 20th FEB
VAT 100 The CST liability for the month of JAN to be deposited by 20th FEB
Form T
Form I The VAT liability for the month of JAN to be deposited by 20th FEB
Form I The CST liability for the month of JAN to be deposited by 20th FEB
VAT 200 The VAT liability for the month of JAN to be deposited by 20th FEB
Form VI The CST liability for the month of JAN to be deposited by 20th FEB
Form 16 A
The liability of TDS on VAT for the month of JAN to be deposited by 20th FEB
The liability of TDS on VAT for the month of JAN to be deposited by 20th FEB
Issue TDS Certificate for tax deducted during previous month if the deductee has not opted for annual TDS certificate.
PT PT Computation
SL.NO Name Salary Amount of PT DOJ
1 02 03 04 05 06 07 08 09 0
10 011 012 013 014 015 016 017 018 019 020 021 022 023 024 0
Total of PT amount 0
Rate of Interest
No. of months Delay
Interset Amount 0
GRAND TOTAL ( INCL OF INT ) 0
DOR You are required to fill in the amounts of the concerned
person's salary, it will show the amount of PT to be deducted
PF PF Computation
SL.NoBasic Salary Amount of Contribution
Employee Employer Employee Employer
1 0 02 0 03 0 04 0 05 0 06 0 07 0 08 0 09 0 0
10 0 0
This column is used for filling up the BASIC salary
of Employee
This Column is used for filing up the BASIC
salary of Employer
8.33% goes to PENSION Fund3.67% goes to PF Fund
1.1% of Employers
Basic Salary
Total Percentage contributed by
Employer is 12%+1.61%= 13.61%
PF Computation
Amount of ContributionTotalAdmin Charges
0 00 00 00 00 00 00 00 00 00 0
Employee Deposit Link Insurance Scheme
This Amount constitutes 12% of Employers Basic
0.5% of Basic Salary
Employer has to pay
EDLIS
0.01% of Basic salary Employer
has to pay towards Admin
Charges of EDLIS
Total Percentage contributed by
Employer is 12%+1.61%= 13.61%
ESI ESI Computation
SL.NOBasic Salary Amount of deduction
Employee Employer Employee Employer
1 0 023456789
10
This column is used for
filing up the Basic salary of Employee
This column is used fro
filing up the Basic salary of Employer
1.75% of Basic salary ( Eligibility:- Rs 50 & above per day )
Amount of deductionTotalAdmin Charges
0 0
4.75% of Basic salary
SAME AS PF CHARGES
TDS CALCULATOR1 194 C 0 0
2 194 C 0 0
3 194 C 0 0
4 194 C 0 0
5 194 C 0 0
6 194 C 0 0
7 194 C 0 0
8 194 C 0 0
9 194 C 0 0
10 194 C 0 0
11 194 C 0 0
12 194 C 0 0
13 194 C 0 0
14 194 C 0 0
15 194 C 0 0
16 194 C 0 0
17 194 C 0 0
18 194 C 0 0
19 194 C 0 0
20 194 C 0 0
0 0 2 0.2 0.066 2.266
0 0 2 0.2 0.066 2.266
0 0 2 0.2 0.066 2.266
0 0 2 0.2 0.066 2.266
0 0 2 0.2 0.066 2.266
0 0 2 0.2 0.066 2.266
0 0 2 0.2 0.066 2.266
0 0 2 0.2 0.066 2.266
0 0 2 0.2 0.066 2.266
0 0 2 0.2 0.066 2.266
0 0 2 0.2 0.066 2.266
0 0 2 0.2 0.066 2.266
0 0 2 0.2 0.066 2.266
0 0 2 0.2 0.066 2.266
0 0 2 0.2 0.066 2.266
0 0 2 0.2 0.066 2.266
0 0 2 0.2 0.066 2.266
0 0 2 0.2 0.066 2.266
0 0 2 0.2 0.066 2.266
0 0 2 0.2 0.066 2.266
FBT Name of Company:-
FBT
PARTICULARS AMOUNT Total
(A). Entertainment - - -
(B). - - -
(C).
- - -
(D).
- - -
(E). Employees Welfare - - -
(F). Boarding & Lodging - - -
Local Conveyance - - -
(G). Travel expense - - -
(H).
- - -
(I)
- - -
(J).
- - -
(K).
- - -
(L). Festival celebration - - -
(M). - - -
(N). - - -
(O). Gifts - - -
(P). Scholarship - - -
115WB(1)(b)
- - -
115WB(1)(c)
- - -
Clause of Section
115WB(2)
Deductions if any
Hospitality of every kind to any personConference (other than fee for participation)
Sales promotion, including publicity excluding advertisement
Repair, running(including Fuel), maintenance of motorcars and depreciation thereon
Repair, Running(including fuel), maintenance of aircraft and depreciation thereon
Use of Telephone including mobile phone(other than leased lines)
Maintenance of accommodation in the nature of guest houses (Other than for training purposes)
Use of health club and similar facilitiesUse of any other club facilities
Any Free or Concessional ticket for private journeys (ACTUALS)
Contribution to Superannuation fund (ACTUALS)
Total - - -
Enter Amount Here OnlyFBT
PARTICULARS Amount
20% - (A). Entertainment -
20% - (B).
-
20% -
(C).
-
20% -
(D).
- 20% - (E). Employees Welfare - 20% - (F). Boarding & Lodging - 20% - Local Conveyance - 20% - (G). Travel expense -
20% -
(H).
-
0% -
(I)
-
20% -
(J).
20% -
(K).
- 50% - (L). Festival celebration
50% - (M).
-
50% - (N).
- 50% - (O). Gifts50% - (P). Scholarship -
100% -
115WB(1)(b)
-
100% -
115WB(1)(c)
-
Percentage expenditure/
Payment being fringe benefits
Value of fringe
benefits
Clause of Section
115WB(2)
First Quarter
Hospitality of every kind to any personConference (other than fee for participation)Sales promotion, including publicity excluding advertisement
Repair, running(including Fuel), maintenance of motorcars and depreciation thereon
Repair, Running(including fuel), maintenance of aircraft and depreciation thereon
Use of Telephone including mobile phone(other than leased lines)
Maintenance of accommodation in the nature of guest houses (Other than for training purposes)
Use of health club and similar facilitiesUse of any other club facilities
Any Free or Concessional ticket for private journeys (ACTUALS)
Contribution to Superannuation fund (ACTUALS)
- Total per Quarter -
Total of Quarter
Amount Deductions if any
TOTAL TOTAL
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - - - - - - - - - - -
- - - - - - - - -
- - - - - - - - - - - - - - - - - - - - - - - - - - -
- - - - - - - - -
- - - - - - - - -
Second Quarter
Thrid Quarter
Fourth Quarter
First Quarter
Second Quarter
Thrid Quarter
Fourth Quarter
- - - - - - -
- -
Total
- 20% -
- 20% -
- 20% -
- 20% - - 20% - - 20% - - 20% - - 20% -
- 20% -
- - -
- 20% -
- 20% - - 50% -
- 50% -
- 50% - - 50% - - 50% -
- 100% -
- 100% -
Percentage expenditure/
Payment being fringe
benefits
Value of fringe
benefits
IF THE COMPANY IS ENGAGED IN HOTEL BUSINESS ( HOSPITALITY RATE
WILL BE 5% FROM 20% )
IF THE COMPANY IS ENGAGED IN CONSTRUCTION BUSINESS ( CONV &
TOURS TRAVELS RATE WILL BE 5% FROM 20%)
IF THE COMPANY IS ENGAGED IN CARRYING PEOPLE ( REPAIRS ON MOTOR CARS RATE
WILL BE 5% FROM 20%)
IF COMPANY IS ENGAGED IN PRODUCTION OF COMPUTERS OR
PHARMACEUTICALS ( THEN RATE WILL BECOME 5% FROM 20%)
IF THE COMPANY USES AIRCRAFT TO CARRY PASSENGERS THEN RATE WILL BE
NIL
- -
IF COMPANY IS ENGAGED IN PRODUCTION OF COMPUTERS OR
PHARMACEUTICALS ( THEN RATE WILL BECOME 5% FROM 20%)