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Wide range of tax preparation outsource services can help small to large businesses in handling their tax compliance and tax Preparation work most efficiently, elegantly, economically, and punctually. Our many certified accountants forming an team, And mellow expertise in India & international Tax laws. Our impeccable value added tax service will certainly reduce your tax related work Considerably and elegantly to meet your monthly, quarterly, and annual tax Dues to your governments.

Income Tax Rate Slab for the F.Y. 2012-13

Income Range General (Non senior citizen catagory) Women (Below 60 years of age) Senior Citizen (Men and Women abouve 60 years of age) Very senior Citizen (Men and Women abouve 80 years of age)
Up to 2,000,00/- Nil Nil Nil Nil
2,000,01/- To 2,500,00/- 10% 10% Nill Nill
2,500,00/- To 5,000,00/- 10% 10% 10% Nill
5,000,00/- To 10,000,00/- 20% 20% 20% 20%
Above 10,000,00/- 30% 30% 30% 30%

 Income Tax Updates

LAST DATE OF FILING Income-tax Return for the Financial Year 2012-13 relevant to the Assessment Year 2013-14. These Income-tax Returns in most cases have to be filed by 31st July, 2013. However, for the Corporate Sector as well as for persons who are having the requirement of tax audit the last date of filing Income-tax Return happens to be 30th September 2013.

SALARY EMPLOYEE: Form No. SAHAJ-ITR1 was permitted to be filled up by all individuals having salary income as also income from house property and income from other sources except income from lottery or from horse races.

Interest Income :- No interest income over Rs. 10,000 from Savings Account. Another condition is the earnings from interest. In case a person has interest income of more than As. 10,000 from his savings deposits, he cannot claim exemption from filing returns. However, in case he has interest income of less than As. 10,000, he will be eligible for the exemption.

Refund :- In case an individual wants to claim a refund, he will have to file the returns. There is no escaping from filing returns in case one has paid excess tax and wishes to claim a refund. The exemption will not be applicable in cases where notices are issued for filing the income tax returns uts 142(1), Section 148, Sec. 153A or Sec.153C of the Income

Exemption filing tax returns:- Salaried individual with a taxable income of less than Rs. 5 & bank interest upto As. 10,000/-will be exemption filing tax returns. It is to be noted that the entire income of an individual must accrue from a single employer. In case an individual has changed jobs or worked in two or more companies, he will have to file the IT returns even his total salary income is below As. 5 lakhs during the year.

Deduction – 80U- In computing the total income of an individual, being a resident, who, at any time during the previous year, is certified by the medical authority to be a person with disability, there shall be allowed a deduction of a sum of fifty thousand rupees Rs. 50,000 : Where such individual is a person with ‘Severe Disability’, a higher Deduction of Rs. 1,00,000 is allowable. Every individual claiming a deduction under this section shall furnish a copy of the certificate issued

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