Cash Withdrawal of above 1 crore _ Deduct TDS under section 194N from Sep 1, 2019. (1)

Cash Withdrawal of above 1 crore? Deduct TDS under section 194N from Sep 1, 2019.

The objective of introducing Section 194N by government in the Union Budget 2019 of July 2019 is to discourage cash transactions in the country and promote the digital transaction in India or promote less cash economy. ‘Section 194N –TDS on cash withdrawals over and above Rs 1 crore’ has been introduced through the Finance Bill, 2019. 

To whom is 194N applicable?

Applicable  to withdrawals made by below:

  • An Individual
  • A Hindu Undivided Family (HUF)
  • A Company
  • A partnership firm or an LLP
  • A local authority
  • An Association of Person (AOPs) or Body of Individuals (BOIS)

Who will deduct TDS?

Applicable  The following payers will deduct TDS

  • Any bank (private or public sector)
  • A co-operative bank
  • A post office  

Who are exempted from 194N?

  • Any government body
  • Any bank including co-operative banks
  • Any business correspondent of a banking company (including co-operative banks)
  • Any white label ATM operator of any bank (including co-operative banks)
  • Any other person notified by the government  

Dates of applicability?

The threshold of Rs 1 crore is with respect to the previous year, calculation of the amount of cash withdrawal for triggering deduction under section 194N of the Finance Act shall be counted from April 1, 2019  

The Central Board of Direct Taxes (CBDT) has further clarified that if a person has already withdrawn Rs 1 crore or more in cash up to August 31, 2019, in the current fiscal, the two percent TDS shall apply on all subsequent cash withdrawals.

Attach Your Car With Ola To Start A Business


Nowadays, the service industry is not only the fastest-growing but it is also having one of the largest contributions in India’s GDP (28% appx).

It is not only dominant in India GDP, but it also brings in a considerable amount of foreign investment and also provides large scale employment opportunities.

One of the most trending business in some of the prime location in India such as Delhi NCR, Mumbai, and Bangalore etc. are providing cab service. It just requires you to have a smartphone & a vehicle. (Even if you don’t have a vehicle the service provider is having an option with which you can start the business).

Read the remaining article carefully and you will understand all the formalities required to be fulfilled to attach your car in OLA.

Read other blogs: Transactions in which it is mandatory to give your PAN Card number


Documents of the driver:

More documents may be required for leasing.

  • Valid commercial Driving license (yellow badge)
  • Aadhaar card
  • PAN card
  • Current & permanent Address proof document (For example electricity bill)
  • Bank details (passbook & cancelled cheque book)
  • Reference (address & phone numbers)

Car Documents

  • Registration certificate
  • Vehicle permit
  • Insurance of vehicle

Other Documents required

  • PAN card
  • Aadhaar card
  • Address proof (For example electricity bill)
  • Canceled cheque


  1. OLA Share
  2. OLA Micro
  3. OLA Mini
  4. OLA Prime
  5. OLA Autos
  6. OLA Bike
  7. OLA E-Rickshaw
  8. OLA Luxury
  9. OLA Outstation
  10. OLA Rental
  11. OLA Shuttle



There are 3 ways of starting a business with OLA:

Joining OLA as a partner

  • If you own a car then it is easy to attach it with OLA
  • Call or visit the nearest OLA centre and they will provide you with all the details required to attach your car with OLA.
  • Be sure to read all the information carefully before attaching your car with OLA.
  • Submit the necessary documents as mentioned in the article.
  • OLA will then start the training process.
  • The signing of the contract with OLA.
  • Run your car as an OLA cab in your city.

Joining OLA as a driver

  • For those who don’t own a car but still wants to start their business with OLA
  • Simply visit the office of OLA and understand the details required to attach your car with OLA
  • Submit the necessary documents mentioned in the article above.
  • Depending on the car you lease, one has to pay a rental fee of INR 700 – 1200 to OLA. This will be automatically deducted from your daily earnings and the remaining amount will be transferred to your account through NEFT/Cash.
  • OLA will then start the training process.
  • The signing of the contract with OLA.
  • Start working as an OLA Driver.

Joining OLA as a fleet operator

  • For those who have multiple cars, can attach them as a fleet with OLA.
  • Call your nearest regional office and collect the information regarding OLA fleet.
  • Submission of documents
  • If you are not able to find the drivers, OLA will help you find them.
  • OLA will inspect your car & check whether it is meeting the standards of the company or not.
  • OLA will then train these drivers and will make them technology-friendly.
  • After completion of all the processes, OLA will register you as fleet operator under it.
  • The signing of the contract with OLA.
  • Start working as an OLA fleet operator.


Q. How to get a car on a lease in OLA?

  • Get your documents verified
    • Pay the verification fees & security deposit
    • You will get the car once your profile is verified

Q. Initial payment to lease a car in OLA?

  • A non-refundable charge of INR 4,000 is to be paid.
  • Refundable charge of INR 21,000 – 31,000 based on the vehicle.

Q. What is the procedure to pay the daily rental of OLA?

  • OLA will deduct your daily rental from daily earnings and will transfer the remaining to your account through NEFT/Cash.

Q. How much time does OLA takes to complete the registration process?

  • If all your documents are complete and ready to be verified then it will hardly take a day to start with your booking process.
Your PAN Card might become


  • 31st December 2019 is the last date to link PAN-AADHAR after which your PAN will become “inoperative”.
  • Earlier the rule was that if you fail to link PAN-AADHAR then your PAN will become “invalid” i.e. you never had a PAN.
  • However, the Government is yet to define the meaning of being “inoperative”.
  • In the recent budget which was presented in July 2019, the government had amended the PAN-AADHAR linking rules.
GST Registration

Why this change in the rule was announced?

  • These changes were announced by the government to secure the previous transactions done by the taxpayers using PAN.
  • This will be beneficial not only for the government but for the honest taxpayers as well.

Related Blog – All you need to know about Company Registration as a startup

What will happen if PAN is not linked with AADHAR till 31, December 2019?

  • There is no clarity as to what will happen if you are not able to link PAN-AADHAR within the prescribed time limit. The government is yet to clarify the exact meaning of the word “inoperative”.
  • The government will also notify whether these inoperative accounts will be re-activated after being inoperative.

How to link PAN- AADHAR?


  • If you are an existing user and you have previously filed your returns using your PAN then chances are that you have already mentioned your Aadhar no. while filing your tax return.
  • Income tax department might have linked both you PAN-AADHAR in case they have your details with them.
  • You can check your status regarding the same by visiting the


Click on the above-mentioned link and fill-up the form by filling the details of your PAN-Aadhar and get it linked.


  • Via SMS: Sending an SMS from your registered mobile number to 567678 or 56161 using the format UIDPAN<SPACE><12 digit Aadhaar><Space><10 digit PAN>

Related Blog: How to check your PAN card status?

file TDS return online

How and to File TDS return Online and when is the right Time to file?

TDS is abbreviation of Tax Deducted at Source. TDS filing is one of strategy utilized for gathering income tax in India. It is administered under the Indian Income Tax Act 1961 and overseen by Central Board of Direct Taxes (CBDT). Under this demonstration, any installment secured under these arrangements will be paid in the wake of deducting recommended rate. It is a piece of the Department of Revenue and overseen by Indian Revenue Service (IRS). In an association, the business gathers charge from their representative and sends it straightforwardly to the personal assessment office.

This tax must be stored in treasury of Indian Government inside a predefined time. There is no uniform pace of finding for this duty. It might be run from 1% to 30% or more, contingent upon the element on which it is appropriate. There are two personalities engaged with the procedure of TDS filing; one is Deductor and the other is Deductee. The Deductor is an individual or an organization/association who is in charge of deducting the cash (charges) before the installment is made and the Deductee is the individual who is at risk to make good on the regulatory obligation or from whom the duty is deducted.

Basically, TDS is deducted on following area where one should match with the criteria before TDS filing like;

  • Salaries
  • Interest payments by banks
  • Commission payments
  • Rent payments
  • Consultation fees
  • Professional fees

Procedure to Upload TDS Statement, to file online TDS return

  • You will sked to fill username, password and captcha code; Note: user name will be your TAN number
  • After login go to TDS section mentioned in the menus
  • Click on the upload TDS
  • You will be asked to fill some details in the form like FVU version, Financial year, Form name, Quarter, and upload type.
  • Note: upload type will be regular while filling TDS filing.  
  • After filling above mentioned details, click on validate, which will validate the statements mentioned by you in the form.

Upload TDS Statement using DSC in online TDS Return

  • Above mentioned steps will be remaining same, update the TDS zip file which was prepared by using the utility downloaded from tin-NSDL website.
  • Attach the signature file by clicking on browse button
  • Now click on upload button.
  • It will show a message with transaction id and also sent a copy to the registered email id.

Upload TDS statement using EVC in TDS filing

All the steps mentioned above will remain same except e-verify. You will see a e-verify button at the bottom, after clicking E-verify button, three option will be provided like

In option 1 you will see text like “I already have an EVC to e-Verify the Form”

In option 2 you will see “I do not have an EVC and I would like to generate EVC to e-verify my form”

And in Option 3 you will see “I would like to generate Aadhaar OTP to e-verify the form”.

If you have selected 1 option, then you have to fill EVC number and click on submit.

If you have selected 2 option, then it will further provide to three another options like

  • EVC through net banking
  • EVC through account number
  • EVC through demat account number

EVC through net banking

  • Login to the e-filing portal through networking
  • Click on e-file menu then generate EVC.
  • Select the required TAN number from the drop down menu.
  • EVC will be sent on the registered mobile number.
  • Now login to the e-filing portal again.
  • Go to TDS section, click on upload TDS, then select the option that I already have an EVC under click here to e-verify.
  • Enter the EVC and click on submit.

EVC through account number

To go through this option note that you bank details must be registered with the account.

It will provide you confirmation message that something like “Do you want to generate EVC then click yes”. After clicking on yes, EVC number will be sent to the registered mobile number.

Read another blog: Seven Steps for Private Limited Company Registration in Delhi

EVC through demat account number

In this case also demat account details should be pre validated else it will provide you a message like account details has not been validated.

It will also provide you confirmation message that something like “Do you want to generate EVC then click yes”. After clicking on yes, EVC number will be sent to the registered mobile number.

When you will select option 3 for TDS filing

  • Note: Mobile number should be registered with Aadhaar card. Then only you will receive OTP on registered number. After the click on submit. 
  • Else it will show a message like PAN and Aadhaar card are not linked.

To File TDS return, there are some due dates declared by government according to 2018-19

  • 1st quarter would start from 1st April to 30th June therefore, TDS return due date would be 31st August 2018.
  • 2nd quarter would start from 1st July to 30th September therefore, TDS return due date would be 31st October 2018.
  • 1st quarter would start from 1st October to 31st December therefore, TDS return due date would be 31st January 2019.
  • 1st quarter would start from 1st January to 31st March therefore, TDS return due date would be 31st May 2019.

Various forms available to file TDS return

  • Form 24Q for TDS on salary
  • Form 27Q for when deductee is foreigner or running foreign company/ non resident
  • Form 26QB when installment for exchange of unmovable property
  • Form 26Q TDS in any other case.

You can also see the TDS return status by following below steps:

  • Login to the portal with credentials
  • Click on TDS
  • Click on View filed TDS.
  • Then again you have to provide information related to financial year, form name, and quarter.
  • Now click on view details button.
  • It will show you all the TDS return status.

If you are still facing any issue then you are free to call on (0120) 4231116, where our expert will guide you.

Private Limited Company Registration

Private Limited Company

A private limited company is an organization which is secretly held for independent ventures/company. The obligation of the individuals from a Private Limited Company is constrained to the measure of offers separately held by them. All the information about Private Limited Company is talked about in the article.

Area 2(68) of Companies Act, 2013 characterizes privately owned businesses. As indicated by that, privately owned businesses are those organizations whose articles of association confine the limit the exchange capacity of shares and restrict them to buy or subscribes. There are many characteristics of a private company.

Below are some features of a public company which differs it from Public companies:

  • In Private Limited Company, no minimum share capital is required.
  • Private Limited Companies don’t have permission to transfer their share freely unlikely public companies
  • Private Limited Companiescan hire a minimum of 2 employee and maximum 200 in their company
GST Registration

Types of Private Limited Company

Well, there are three types of Private Limited Companies

  • Limited by shares, the risk of the individuals is highly controlled to the sum unpaid to the organization regarding the shares held by them.
  • Limited by guarantee, here the individuals’ liabilities are restricted to the measure of cash they certification to pay on the off chance that the organization is beating up.

Related Blog – All you need to know about Company Registration as a startup

  • Unlimited liability, the risk of individuals is boundless in this kind of privately owned businesses. Owned resources of individuals can be connected and sold when the organization is being beaten up.

Different requirements of Private Limited Company

  • Members should be in between 2 to 200
  • Minimum two directors are must and every director should have DIN i.e. Director Identification number
  • Name should have included Pvt. Ltd on the end of the company’s name
  • Registered office address is a must.
  • Digital signature certificate is also must require in the digital world
  • Professional certificate is also needed like CA, secretary and many more
Accounting & Auditing

Various advantages of Private Limited Company

Incorporated association, an organization is made when it is enrolled under the Companies Act. It appears from the date referenced in the certificate of joining. As per the MCA’s company act, Company which owned more than two employees should be registered with full name.

Legal person, well companies are not a person. These are registered under the law and cannot work as their own because it must require some legal person to run it which are chosen by shareholders. These persons are called directors of the board.

Separate Legal entity, an organization has a lawful particular substance and is independent of its individuals. The loan company of the organization can collect their money just from the organization and the property of the organization. They can’t sue singular individuals who are part of the company.

Ceaseless Existence, an organization is a steady type of business association. Its life does not rely on the passing, indebtedness or retirement of any or all shareholder or executive. Law makes it and law alone can break up it. Individuals may come and go however the organization can continue forever

Common Seal/stamp, an organization not being a person can’t sign on the documents unlikely human person. It acts through a characteristic individual who is called its executives/directors. Be that as it may, having a legitimate character it very well may be bound by just those records which bear its sign. Along these lines, the law has accommodated the utilization of regular seal, with the name of the organization engraved on it, as a substitute for its signature.

To conclude Private companies are totally different from public companies and a private company is registered association under the company act of government which is artificial legitimate individual, having a free lawful, element with a ceaseless progression, a typical seal for its signs, a typical capital comprised of transferable shares and conveying highly controlled risk.

Seven Steps for Private Limited Company Registration

Seven Steps for Private Limited Company Registration in Delhi

Private Limited Company is the most popular and prominent type of corporate legal entity in India. The Ministry of Corporate Affairs, the Companies Act, 2013 and the Companies Incorporation Rules, 2014 regulate private limited company registration. A least two shareholders and two directors are required to register a private limited company. While a corporate legal entity can only be a shareholder, a natural person can be both a shareholder and the director.

Besides, foreign citizens, foreign corporate entities or NRIs may be directors or shareholders with Foreign Direct Investment of a company making it the preferred entity option for international promoters.

Are you thinking of setting up your business in Delhi? Do you want to know the process involved in private limited company registration in Delhi?

CAONWEB can help you with private limited company registration in Delhi.

Pre-requisites for Private Limited Company Registration in Delhi

  • 2 Directors
  • 2 Shareholder
  • Registered Office Address (Residential/ Non-Residential)

Document required for private limited company registration in Delhi

The applicant must mandatorily submit the following documents along with the identity card and address proof:

  1. Memorandum of Association
  2. Article of Association
  3. Copy of PAN Card
  4. Copy of Aadhar Card
  5. Firm Address Proof like Electricity Bill or Telephone Bill or anything similar that has full name and address of the firm in legible language. (not more than two months old)
  6. Rent agreement or Electricity Bill if the business place is taken on rent duly attached with No objection Certificate (NOC) issued by the owner.

Process for Private Limited Company Registration in Delhi

  1. The first step is to apply for Digital Signature Certificate (DSC) and Director Identification Number (DIN)
  2. Then apply for approval of the name with Registrar of Companies (ROC), Delhi
  3. The third step is to apply for Registration in INC-32 forms
  4. The last step is to obtain a Registration Certificate.

Following are the steps involved in registering a private limited company:

Seven Steps for Company Registration

1. Obtain DSC

Since we are taking an online route to register a private limited company, Digital Signature is mandatorily required. It is mandatory for all the subscribers and witnesses in the memorandum and article of association. You can obtain Digital Signature Certificate either online or offline from government recognized certifying agencies. There are two category of DSC available, i.e. Class 2 and Class 3. Under Class 2, your identity will be verified against a pre verified database, whereas under class 3, you need to be present in person before the registering authority.

Related Blog – All you need to know about Company Registration as a startup

2. Run Name Approval

There are two options to get name approval

  1. Incorporate a company via Reserve Unique Name (RUN) form.
  2. Apply for the proposed name through SPICe(INC-32)

Option 1:

In an attempt to ease the registration procedure, RUN web service has been introduced by Ministry of Corporate Affairs. While filling RUN form, be extremely careful as it gives you only one chance for applying and in case of rejection of name (based on valid grounds) there is no second chance available. In this case you have to re-file another RUN form by again paying the prescribed fees.

To apply for a name using RUN web from, the applicant must first create a MCA account. The account is free of cost. After creating and logging into the MCA account, the registrant can choose “Private Limited” as the type of company to be registered. He further needs to provide one name choice and check against the database of MCA to check the availability.

It is important to note that MCA Run System only check for identical company names. However the Company Incorporation Rules, 2014 says a company cannot be registered with an identical name. Hence even if the MCA database shows the availability of name, it does not guarantee approval.

GST Registration | GST Number

Option 2:

However, with effect from March 23, 2018, Ministry has decided to permit two proposed Names and one re-submission (RSUB) while reserving Unique Names for the Companies.

You must think carefully before adopting a name because any name that violates the rules will not be allowed to use. There’s a list of undesirable names that can’t be used.

 If it is identical with or too closely resembles the following, a suggested name will be considered as undesirable.

  1. Existing company names and LLPs or names approved by the Company Registrar and LLPs.
  2. A registered trademark or trademark for which others have applied for registration and used it or owned it.
  3. Names are given under and in violation of the Emblems and Names Act, 1950.
  4. Foul words or phrases. Words or expressions used as a derogatory term and offensive to a group of people.
  5. Names with “British India” words.
Fssai Registration | Food Licence

3. Obtain Director Identification Number for Incorporation

All individuals who are proposed to be the director of the company should have a valid Director Identification Number. The person should apply for DIN only through the SPICE from. All the details should be filled in the SPICE form along with their PAN or Passport details. On incorporation of the company, DIN will be allocated to the person who has duly applied for DIN.

If a person already has a DIN and incorporating a new company, SPICE form must still be used and DIN can be entered wherever applicable.

4. Selecting Your Business Activity

Next, you should choose the operation your Private Limited Company will engage in. You can decide from any of the alternatives that you have been given. And if you cannot find the correct option for your operations, you can select the’ other’ option. It is requested to appoint a professional so that he/she can help you with drafting memorandum and article of association.

5. Form SPICe (INC-32)

Ministry of Corporate Affairs has introduced Form SPICe (INC-32) to simply the process for incorporating and registering a company online. Prior to the introduction of SPICe form, a company is required to file several documents like DIR-3, DIR-12, INC-1, INC-7, INC-22 for different registration requirements. Now all these forms have been merged together in a simplified way.

A professional’s digital signature is mandated to file the INC-32 form. The professional must certify the correctness of all the information provided in the form. The professional can be a Chartered Accountant, Company Secretary, Cost Accountant or advocate.

6. e-MoA(INC-33) and e-AoA (INC-34)

The intention behind introducing e-MoA and e-AoA is to simply the company registration process in India. e-MoA and e-AoA stands for electronic Memorandum of Association and electronic Articles of Association respectively.

The forms need to be filed online on MCA portal and they are linked with SPICe (INC-32). Both of these forms must be mandatorily filed by the subscribers of the Memorandum and Article of associations.

7. PAN and TAN Application

 You can apply for the PAN and TAN of the company through the single SPICe form by using forms 49A for PAN and 49B for TAN. After submitting the SPICe form, the system will auto-generate PAN and TAN form. All you need to do is download it, attach electronic signatures and upload both forms to the MCA portal. 

If all the information in the form is properly filled in along with the necessary documents, MCA will approve the registration and a CIN (Corporate Identity Number) will be given. This CIN can also be tracked on the MCA portal online.

Ministry of Corporate Affairs has significantly made the registration process a lot more simple and easier in an effort to spur new start-ups.

Frequently Asked Questions

1. What is the fee for Incorporation?

The MCA has announced zero fees for incorporation up to 10 lakh of an authorised capital in an attempt to simplify the company incorporation process and encourage new start-ups. Hence, Businesspeople would be able to save a thousand rupees as an incorporation fee. Notwithstanding the announcement of zero fees for the SPICE form, eMOA and eAOA–stamp duties would still be valid for incorporation as before depending on the state of incorporation.

Bookkeeping | Accounting & Auditing

2. What are the changes made in the registration process in 2017 and 2018?

By reducing the forms for name approval, DIN application and incorporation, the MCA has accomplished substantial process decrease while enhancing the ease of using SPICe form.

A significant drawback in using the SPICe form earlier was that Entrepreneurs or Professionals were unable to acquire previous approval of the name. In the event of refusal of name while using SPICe Form, they were compelled to redo incorporation paperwork. But now, MCA has streamlined the name approval process and made it optional by implementing a web-based method for name authorization called RUN.

3. Can a proposed director of a new company apply for DIN through Form DIR-3?

As per the company registration process 2018, DIR-3 form can only be used for adding a director by existing companies. Hence, due care must be taken by the professionals to ensure that DIN, through DIN-3 is not obtained for a proposed director of a new company.

4. What are the documents required for filing SPICe (INC-32)

The following documents are required for filing SPICe (INC-32):

  • If the Director or Subscriber is an Indian National
  • PAN Card
  • Address Proof:  It can be Passport, Voter ID Card (Election Card), AADHAR Card, Electricity Bill, Telephone Bill, Ration Card or Driving License.
  • Residential Proof: It can be Bank Statement, Electricity Bill, Telephone Bill or Mobile Bill.
  • If the Director or Subscriber is a Foreign National
  • Passport
  • Address Proof: It can be Driving License, Residence Card, Bank Statement or Government issued form of identity containing address.
  • Residential Proof: It can be Bank Statement, Electricity Bill, Telephone Bill or Mobile Bill.

5. What is the time required to register a company?

Since nowadays a company registration has become a fast track process, it takes lesser time to register a company online as compared with the old process.

You can read more such blogs on our official website CAONWEB. Click here to visit now.

Looking for a Chartered Accountant

Are you looking for a Chartered Accountant online in India?

Looking for online CA services? Well in today’s busy schedule and digital world people don’t want to rush here and there for such services. All are looking for handy information and results in one click. If you are getting online CA, it will resolve a lot of issues in one click. We are chartered accountants, provide multiple services on a daily, monthly, quarterly and yearly basis. Therefore, we are here to serve and support you related to the below key area:

  •  Income tax return
  • GST registration
  • Free Company registration
  • Trademark registration
  • Business registration
  • GST Filing
  • Digital Signatures services
  • TDS and ROC filing
  • Payroll management
  • FDI Policies
  • Warehouse Registration
  • ISO registration
  • Cross border Tax Consulting
  • Audit and Assurance Services and many more

Related Service: All CA services

Company Registration

Why Online CA services are best!

  • Less time consuming and One-click solution
  • Don’t have to bother much and wait in a long queue
  • Provide best solutions in limited costs
  • Enroll in different packages to get discounts
  • 100% support and Guidance
  • Online CA services makes your life easy

Income tax return filing: Our chartered accountants will provide you end to end support for filing your income tax on a yearly basis and different ways to save your tax.


GST registration and filing: Our professionals will help you to file and registration for GST. for more information, related to GST you can also visit. 


Free Company/Business Registration: Our online CA will assist you with registration procedure and all the rules and process followed while registering your business/ company online. Because online presence matters a lot these days.

Online CA,CS Services


Business LicenseMSME registrationimport-exportFSSAI registration, Chartered accountants will provide full-time assistance with no hidden cost.

IPR services: Patent registration and Trademark registration will also be available with efficient and 100% guidance.

TDS and ROC filing: Our Online CA will guide you on how to File TDS Return and ROC and no extra cost will be taken for the same.

WHO are WE!

  • Professional Chartered accountants
  • Online CA service provider
  • Great Experience with quality
  • Best CA firm in India
  • Tax Consultants
  • Bundle of great package

Related Blog – All you need to know about Company Registration as a startup

Our Mission

Therefore, our mission is to provide Online CA services, to spread awareness digitally and assist more and more people across India. Especially in eCommerce growth. Our Professional Chartered accountants have rich experience in the proper management of all the services. We provide great quality work and excellent services to our clients.

Our expert, Online CA pursue a methodology in each commitment for helping you accomplish your ideal business results of quicken achievement. Utilizing profound specialized ability and field-tried accepted procedures, these groups work with you to adjust all objectives to the results of most prominent worth to your association.

Why Choose us Among Other Ventures

  • We planned explicitly to overcome any issues and break the limits between the experts and customers
  • We work around the globe in connection to assess/account benefits in a safe and secure way.
  • We give alternatives to customers to pick proficient dependent on the necessity with least charges or to locate the correct proficient with no expense.
  • We, Chartered accountant’s experts of Accounting and Tax, make sense of the necessities of the market and grow better approaches to serve customers.

Relevant Blogs to Read:

If you are looking for various solutions related to income tax, company/firm registration, trademark registration, GST and many more as mentioned above. We have provided detailed information with easy steps of process and procedures to be followed. You can visit related mentioned link: Here you can find a huge variety of descriptive articles/ blogs which may provide great assistance to you.

New ITR filing date for A.Y 2019-20

New ITR filing date for A.Y 2019-20

It was demanded to extend the due date of filing ITR because of last minute rush and also main factor was  TDS  statement issue was also delayed for A.Y 2019-20. On 23rd July, 2019 CBDT extended the due date of filing Income Tax Return of taxpayers whose due date fall on 31st July, 2019. Now the new due date shall be 31st August, 2019

Who is required to file ITR by 31st July, 2019 (now extended to 31st August)?

Individuals including salaried taxpayers and entities who do not need to get their accounts audited. 

Click here to Read About : who needs to get their account audited here.

What are the document checklist to file ITR?

-Form 16 received from your employer

-Bank statement during the relevant year if you have income other than salary and also to check interest from your saving bank account, as it is taxable too however you get tax deduction upto a limit for your saving bank account interest.

-If you have income from house property than again details of rent received during the relevant year, along with municipal taxes paid receipts

-Details of your tax aving investments like LIC, ELSS, Basic tuition fees paid for your children, any tax saving FD made during the year, donations eligible for tax benefits, medical insurance paid for yourself or parents and spouse.

-House loan email and interest paid details if any.

-If you are a proprietor and not required to get your account audited make sure your tax computation is calculated correctly so ensure you get the right tax consultant for the same. 

Income TAx Return Filing | ITR Due Date

Why should one approach a tax consultant to file ITR?

There is no doubt that you can login to the income tax and do the basic filing yourself. If you have income only from salary then you can file it yourself. If a salaried taxpayer do not have time they may approach a tax consultant who is not charging you hefty sum to file salary income tax return. However for those having income from capital gain, income from other sources, income from business- it is always recommended that they should approach a tax consultant. Because relying on not so efficient person to file your tax return will only put you in trouble. Income tax department is very strict and serves you with notice in few months if anything submitted is incorrect or you may even have to face late fees or interest if there is by any chance mistake in your tax computation.

Therefore why get served with notice and take hassle when you can now go to a tax consultant nearby you or approach a CA online through a reliable source. Choice is yours file return on time with help of consultant or get served with notice and face interest penalty by doing delay or making mistake by getting your itr filed through not reliable source.

Related Article- 7 Ways Salaried Individuals Can Save Tax

Know how to file ITR online and don’t wait till the last date.

File your ITR on time and live with peace!!

Jail for non-filing of ITR

You may land up in Jail for non-filing of ITR

The central Board of Direct Taxes (CBDT) has extended the ‘Due Date’ for filing of Income Tax Return from 31st July, 2019 to 31stAugust, 2019!

Interest and Penalty for failing to file ITR within due date

Those category of individuals with income below the exemption limit are not required to file the ITR irrespective of what they have earned income during the financial year. The basic exemption limit varies as per age. 

What will happen if you fail to file ITR within due date of 2019-20? Last date of ITR filing for A.Y 2019-20 is 31st July, 2019. Unlike in past missing to file ITR has strict consequences.  If one fails to file ITR by 31st July, 2019 then one still get the chance to file it by 31st March 2020, however with a late fees.  Return filed after due date is called Belated return. So you get a chance to file belated return by 31st December, 2020 with late filing fees.

As per section 234F of income tax Act, if a person fails to file income tax return within due date and files it before 31st December late fees of 5000 is to be paid, if return is not filed even after 31st December late fees goes upto 10000 in that case.If there is tax payable then for late filing you would have to pay interest u/s 234A at 1% per month or part thereof on unpaid taxes along with interest u/s 234B and 234C as applicable.

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When the provision of imprisonment will comes into effect?

276CC of income tax Act highlights that if intentionally you fail to file ITR that is you are doing the fault knowingly in that case a person could get imprisonment terms of at least 6 months. And this may extend upto 7 years if he is evading tax greater than 25 Lakhs. If tax he is trying to evade is greater than 3000 but is upto 25 Lakh then there could be imprisonment for a term of at least 3 months and it could go upto 2 years based on the amount of tax he was trying to avoid.

Therefore, one has to comply with the provision of ITR filing within the due date to avoid such mishappenings or reputation harm like interest, penalty fine or even jail.

Please note that for certain categories of tax payers due date of ITR filing is 30th September, 2019. You may consult caonweb experts for free to check your due date.

Jail for not filing your ITR will harm your business reputation. Are you filing your ITR before 31st july,2019

Basics of income tax for beginners

All about ITR filing for BEGINNERS!

Novice to Income tax! Don’t know how to file an Income Tax Return form. Does Income Tax stress you to such an extent? Try not to stress. It is not an advanced science to get it. You should simply to soak in a couple of essentials of Income Tax to get things clear. Let’s get a deep dive into it.

Before starting, let’s get a brief idea about the Income tax. Income tax is basically imposed by government of India on people who are earning income. This assessment is imposed based on an Act called Income duty Act (IT Act) which was passed by the Parliament of India in 1961. Finance minister also make changes in the rates of income tax every year so we should keep our eye on budget or at least on the income tax rates which are going to help us while online income tax return filing.

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When you are Eligible for Online Income Tax Return filing:

For filing income tax return, there are some taxable slabs are set by the government. From those set of instructions you can easily get the idea for filing an income tax return.As per the financial year 2019-20, Income tax slabs and rates are as mentioned below

Income Tax SlabTax needs to pay
Up to 2,50,000Nil
2,50,001 to 5,00,0005%
5,00,001 to 10,00,00012,500 + 20% of total income exceeding 5,00,000
Above 10,00,0001,12,500 + 30% of total income exceeding 10,00,000

Rates mentioned above does not include Surcharge and Cess.

o    10% surcharge is applicable on income tax in case income exceeds  50 lacs but upto  1 crore

o    15% surcharge is applicable on income tax in case income exceeds  1 crore

o    4% Health & Education Cess is applicable on the income tax and applicable surcharge.

Tax rates and slabs are same for Male and Female

According to the latest budget plan 2019, Individual citizens having assessable yearly salary up to Rs.5 lakh will get full duty rebate u/s 87A and along these lines won’t be required to pay a single penny from our pockets. Anyway Income charge Slabs and Rates will stay unaltered for the FY2019-20.

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What is the assessment year for online Income Tax Return Filing?

As indicated by Indian norms, the financial year (charge year) begins on the 1st of April consistently and closes on the 31st March of the next year. It doesn’t make a difference when you’d begin your employment /job, the budgetary year or the assessment year would close on the 31st of March, each year.

For more clarification, let’s suppose

Working months – 1st January, 2017 to 31st March, 2017

Tax Year – 2016-2017

Assessment Year – 2017-2018.

Please note that ITR Due Date is going to be remain same i.e. 31st of July every year (for the assessment year).

Tax exemptions while applying for Income tax return form

Expense exceptions are capital deductions that can diminish your taxability. These reductions make sure that expense is related just on specific parts of your pay. On the off chance that you pay the lease of your home, you can benefit of an exception on your House Rent Allowance that is determined according to your compensation.

In monetary exclusions, try to use section 80C to 80U. These will help out to reduce taxable income and increase your savings. Under section 80, we have PPF, LIC, Fixed deposits, and Mutual funds while applying Online Income Tax Return Filing

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How to file an Income tax return form

❏  Open the link, register yourself here. 

❏  Fill all the details as per the given form.

❏  Collect your form 16 from HR/ finance dept. Form 16 is basically a TDS document. Where all the income details has been mentioned.

❏  Documents like salary slips, or account details, and other documents for tax exemptions should be with you.

❏  Download form 26A from the portal. .

❏  Compute your total income and recheck if there is any error.

❏  Check your tax liability and calculate your actual taxable payment.

❏  Last step is e-verification of ITR filing. That can be done either by sending a hard copy to the income tax office or uploading online to the portal with digital signatures.

FAQ related to income tax return.

What is ITR?

ITR represents Income Tax Return. It is a recommended structure through which the points of interest of salary earned by an individual in a monetary year and duties paid on such pay are conveyed to the Income-charge Department. It likewise permits convey – forward of misfortune and guarantee discount from personal expense department.Different types of income of salary are recommended for recording of profits for various Status and Nature of pay. These structures can be downloaded from For more information you can also visit our blog Basics of Income Tax Return Filing for Beginners

What are the ways to file an income tax return?

You can file an income tax return in any form like mentioned below

1.  You can submit hardcopy to the income tax office

2.  Online method with digital signatures

3.  Either can use online method with the EVC method (electronic verification code)

4.  Or can fill the form online and then submit the verification of return in ITR-V


When you are applying with the 4th method where you are not applying digital signature, you should take two printed copies of ITR-V form. One of them should be signed by who is paying the tax (taxpayer), sent it to through either normal post or speed post within 120 days to the income tax office address. 

If you don’t want to commit mistakes while filing an income tax return, please visit below mentioned link

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How can I pay the tax according to my income?

Tax amount will be calculated on the basis of income earned in the previous year. Procedure of accumulation of duties, Income -charge Act arrangements for instalment of assessments ahead or can say before the culmination of earlier years. It is otherwise called Pay as your gain concept. 

Duties are gathered by the government through the accompanying methods like instalment by the citizens into different assigned banks, for example, Advance duty, Self-Assessment charge, and so on.

For more information related to Income tax slabs, you can also visit to