Income Tax e-filing Course II

Income Tax Filing Training, Income Tax Officer Training, Income Tax Preparer Training
Certified Income Tax Professional include Self Employed Business Gst Taxes and return filing, Self Employed Business Excise Taxes and return filing, ITR 5, ITR 6 & ITR 7 Return filing, Assessment of Companies & Firm, Assessment of Trusts, Partnership Business Gst, Excise Returns Filing and Procedures, Partnership ITR 5 Filing, Corporate Business Gst ,Excise Returns Filing and Procedures, Corporate ITR 6 & ITR 7 Filing you will be able to handle very involved individual tax situations as well as tax returns for business or profession, partnerships, companies, corporation, trust & society and more complex sole proprietorships.

Income Tax Professional course covers both basic and complex individual ITR 1, 2 & 3 and business or profession ITR 4S & ITR 4, corporation trust & society ITR 7 partnership ITR 5 and companies ITR 6 tax returns. These more complicated tax returns will open up new, more lucrative markets for you. Becoming a Certified Income Tax Professional (CITP) can significantly enhance your salary and your advancement potential as a tax professional, and can be completed in 18 months or less!

ITR 5, ITR 6 & ITR 7 Return filing course

If you are committed to becoming a tax professional, you should definitely consider the CITP program. Put your education toward a certificate that prepares you for the highest designation in the tax industry, individual ITR 1, 2 & 3, business or profession ITR 4S & ITR 4, trust & society ITR 7, partnership ITR 5, companies ITR 6 tax returns

Tax knowledge is valuable to many professionals because financial decisions usually involve tax consequences for their clients. Providing tax preparation services is also a great way to diversify and recruit new financial services clients. Income Tax Return Courses, Advanced Tax Course, Proprietor Tax Course, Individual Tax Course, Advanced Tax Courses, Company Tax Course, Firm Tax Course Trust, NGO Tax course Business Tax Courses, Self Employed Business Tax Course, Corporate Tax Course, Partnership Tax Course, Society Tax Course Income Tax Professionals Training, Income Tax Return Training, Income Tax Return Courses
Income Tax Course
Electronic Filing
ITR 1, ITR 2, ITR 3, ITR 4S & ITR 4
Filing Requirements
Filing Status
Exemptions
Tax Credit
Other Income
Adjustments to Income
Itemized Deductions
Business Expenses
Sale of Property
Depreciation
Self-Employed Business
Rental Property
Capital Gains & Losses
Tax Saving Ideas
Tax Law Updates
Estimated Taxes

Advanced Tax Course, Company Tax Course, Firm Tax Course Trust, NGO Tax course
Advanced Level II Tax Course
Introduction of Income tax Law
Heads of Income
Computation of income
Deduction & Exemption
Set off or carry forward and set off of losses
Advance Tax, TDS,TCS
ITR 5, ITR 6 & ITR 7 Return filing
Assessment of Companies & Firm
Assessment of Trusts
Tax appeals Procedures

EXPENSES NOT DEDUCTIBLE FROM BUSINESS/PROFESSION INCOME

1. Expenditure on any type of advertisement of political party.
2. Any interest, royalty, fees for technical services or other sums chargeable under this act, which is payable out side India or in India to non-resident or a foreign company on which tax has not been deducted or after deduction, not deposited in prescribed time.
3. Any interest, commission, rent, royalty, professional or technical fees paid or payable to any resident of India or payment to contractor or sub-contractor on which TDS is not deducted, or if deducted then not deposited before the due date of filing the return.
4. Any tax calculated on the basis of profit of business.
5. Any amount of Wealth Tax paid.
6. Any payment of salaries payable outside India or to a non-resident on which tax is not deducted.
7. Any tax actually paid by an employer on any income by way of perquisites, on behalf of the employee.
8. Any remuneration paid to non working partner.
9. Any remuneration paid to working partner other than specified in agreement or as per the specified limits by income tax act.
10. Any interest to partner if not specified in agreement and not more than 12%.
11. Any payment in cash exceeding Rs.20000/= till financial year 2016-17 and with effect from 01.04.17, the limit of cash payments will be Rs.10000/= and (Rs.35000/= in case of payment made for plying, hiring or leasing goods carriages) except when payments are made under circumstance specified in Rule 6DD of Indian income tax act.
12. Where a deduction has been claimed on accrual basis during an assessment year and the payment is made in a subsequent year, and the payment or aggregate of payments made to a person in a day otherwise than by way of an account payee cheque/DD, exceeds Rs.20000/= (Rs.35000/= in case of goods carriages), such payments shall be deemed as profit of the assessee for the year in which the payment is made.
13. Any provision for the payment of gratuity to the employees.
14. Any personal expenditures.
15. Expenses on defending in any proceedings for breach of any law relating to sales tax etc.
16. With effect from 01.04.17, any payment for a capital expenditure made otherwise than by an account payee cheque/draft/RTGS/ECS debit card or credit card, exceeding Rs.10000/= shall neither be deductible nor eligible for depreciation under section 32.

RESTRICTION ON RECEIPT OF CASH IN EXCESS OF RS.2 LAKH BY ANY PERSON

Any person who receives Rs. two lakh or more in cash from a person in a day or in respect of a single transaction or in respect of transaction relating to one event, will attract a penalty equal to the amount accepted. For example, Mr. A receives Rs.250000/= in cash from Mr. B in respect of sale of his car. In this case, Mr. A has to pay penalty for Rs.250000/= i.e equal to the amount he received in cash. .

COMPULSORY AUDIT OF ACCOUNTS

From Financial Year 2016-17 (assessment year 2017-18) onward, audit of accounts is compulsory in following cases :-
• If the gross turnover or gross receipts of business exceeds Rs. One Crore. However, assessee engaged in a business and declaring income under presumptive tax scheme under section 44AD whose total sales, turnover or gross receipts, does not exceed Rs.2 crore, are not liable to get their accounts audited under section 44AB.
• Assessees engaged in profession, if gross of a profession exceed Rs. 50 lakh.
• A business assessee who having declared his income under section 44AD for any year, declares his income in any of the five succeeding years not as per the provisions of section 44AD and becomes disentitled to claim benefit of section 44 AD for five years as per section 44AD(4), and whose income exceeds the basic exemption limit for the relevant previous year.
• A professional assessee covered under section 44ADA, declaring his income at an amount less than 50% of his gross receipts and whose income exceeds the basic exemption limit for the relevant previous year.
• Truck operators and persons engaged in specified businesses declaring their income at an amount less than the amount computed under section 44AE, 44BB or 44BBB, as the case may be.

The audit report by a Chartered Accountant, alongwith a statement of particulars, should be furnished in the prescribed form as under:

Category Form for Audit Report Form for Statement of Particulars

Where accounts have been audited under any other law 3CA 3CD
Where accounts have been audited under Income Tax Act 3CB 3CD