Return Filing and Compliance Services
Goods and Service Tax (GST)
Goods and Service Tax(GST) which otherwise called one Nation one Tax.Proper filing and compliance of GST enables to reduce the cost of the organisation and non compliance.We at spoton business solutions help the clients advisory services related to GST.We assist clients in determing the applicability of GST,Filing of various returns under GST and other compliances required under the GST law.
Income Tax Return (ITR)
As per income Tax Act 1961,Every assessee has to file income tax return with the income tax authority(CBDT) and duly pay the tax liability Every financial year on before due date. Return has to be filed in a financial year, When income crosses the permitted threshold as provided in the Finance Act.
The authority has classified assessee in to following classes, such as individual, HUF, Company or any other business. Timely compliance of Tax laws help to save lot of litigation and costs.
Tax deducted at source(TDS)
Tax deducted at source(TDS) means whenever any person making payment or Booking expenses then such payer has to deduct tax on such payment as provided in the finance act and deposit such amount with the Government crediting that tax amount to the payees TAN.
Such deducted amount must be credited to the account of Government on or before 7th of the following month except for March month, For March month the due date is 31st March of the same financial year. Moreover every payer has to file TDS return on quarterly basis with the authority.
Our Direct tax Expert can help you to calculate your TDS and Comply with it properly.
Employee State Insurance (ESI)
Employee State Insurance is one of the social security schemes provided by the Government of India, it provides health insurance benefit to workers.
ESI is mandatory for all employees when the employer has more than ten employees. As per ESI regulation employer has to contribute 4.75% and 1.75% (Total contribution 6%) of wages to the ESI corpus.
Employees Provident Fund (EPF)
Employee Provident Fund (EPF) a social benefit scheme for the benefits of employees. The Employee Provident Fund,This scheme is monitored and regulated by
Employees Provident Funds and Miscellaneous Provisions Act, 1952. As per Employees Provident Funds and Miscellaneous Provisions Act, 1952 It is mandatory for every employer to take EPF registration where the number employees are are more than 20.Establishment can take voluntary registration if the number of employees are less than 20.
The PF contribution paid by the employer is 6% of (basic salary + dearness allowance + retaining allowance). An equal contribution is payable by the employee. In case of establishments which engage less than 20 employees or meet certain other conditions, as per the EPFO rules, the contribution rate for both employee and the employer is restricted to 10%. For most employees working in the private sector, its the basic salary on which the contribution is calculated.
Employees contribution as per the Act is 12% of the basic pay to EPF, the employer contribution is 8.33% towards the employee's pension scheme and 3.67% to the EPF itself. Employees also make matching 12% contribution. Along with this, employers also deposit 0.5% for EDLI, 0.65% as EPF administrative charges and 0.01% as EDLI handling fee