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DIGITAL SIGNATURE (DSC) (3)

Ans:- A digital signature is a very simple, secure, convenient, and a time-saving way of signing electronic documents or authenticating certain online transactions. Technically, it is a code, unique to the person who is signing the electronic document or authenticating the transaction.

Ans- Yes, the Indian Evidence Act, 1858 has been modified and amended on lines with the Information Technology Act, 2000 and thus any electronic document signed with a valid digital signature is considered a valid piece of evidence similar to a physical document signed with a hand-written signature.

Ans- Digital Signature is used to file return for (1) Income Tax (2) TDS (3) EPFO (4) ESI (5) RoC (6) E-Tendering (7) GST (8) Trade Mark/ Patent Filing.

EMPLOYEE PROVIDENT FUND (EPF) (6)

Ans:- You have to apply through online for EPF registration.

Ans:- This scheme applies to all companies or establishment, which employs 20 or more than that. Do remember that once the employees’ strength reaches to 20 or more then irrespective of employee strength (whether fall or rise) the company must continue with this scheme

Ans:- Partnership Deed (for partnership firm)/ Certificate of incorporation (for a Public or Private Limited Company), PAN details of company, Digital Signature Certificate (DSC), Owner details, including designation and address of Directors and partners, Bank details, Particulars related to wage component of employees, Incase the establishment is already covered under the ESIC, the ESIC Code. The factory license number,date, issued by and date of trial production (only for factory)

Ans- 15th of subsequent month i.e., the contribution based on salary for the wage month of October is to be remitted on or before 15th of November. Belated remittance will attract Penal Damages and Interest

Ans:- According to EPF rules, an employer can’t deduct it from employee salary. It is illegal.

Ans:- Your employer has whole responsibility to deposit all amounts, which is deducted from the employee as well as an employer contribution.

EMPLOYEE STATE INSURANCE SCHEME (ESI) (5)

Ans:- This is the 17-digit unique identification number that is allotted to every registered establishment. This number gets generated through the ESIC portal on the submission of required information by the employer.

Ans:- Once a factory or an Establishment gets covered under the Act, it will continue to be covered notwithstanding the fact that the number of covered employees that were employed at any time falls below the required limit or there is any change in the manufacturing activity.

Ans:- The following documents are required for registering under the ESI scheme:
1. A registration certificate or a license obtained under Shops and Establishment Act or Factories Act;
2. Certificate of registration (Memorandum and Articles of Association in case of a private limited company, partnership deed for LLPs, etc);
3. Certificate of registration for all entities and commencement of production for factories;
4. A list of employees with their monthly compensation, in detail;
5. A list of directors, partners and shareholders of the company;
6. The PAN card of the business and address proof of the establishment/firm;
7. Bank statements of the organization, with evidence of commencement of operation.

Ans:- The employer are required to file a monthly contribution online through the ESIC portal in respect of all its employees after getting them registered. The total amount of contribution (which includes the shares of the employees and employers) in respect of all the employees for each month must be deposited within specified time.

The registration of the employees is needed to identify the employee and to provide them with the benefits under the Act which are related to the contributions paid by the employer on behalf of each of the insured employees.

GOODS & SERVICES TAX (GST) (7)

Goods and Services Tax (GST) is an indirect tax levied in India on the sale of goods and services. GST is a destination based tax which is levied only on value addition at each stage because credits of input taxes paid at procurement of inputs will be available. Thus, the final consumer will bear only the GST charged by the last dealer in the supply chain, with set-off benefits at all the previous stages

Ans:- No. GST has subsumed Central Excise Law, Service Tax Law, State VATs, Entry Tax, Luxury Taxes, Octroi etc. Earlier, there were so many taxes which were levied on goods such as Excise, VAR, entry tax, octroi. Similarly, service tax, entertainment tax, luxury tax were levied on services. Now, there is only single tax i.e. GST and it will make dream of One Nation, One Tax feasible.

Yes, a professional like Chartered Accountant, architects, fashion designers, make-up artists etc.

Ans:- Yes, you can take GST registration & can do business without any tension.

Ans- If a person only deals in exempted supplies and no taxable supplies then no registration is required to be obtained.

Ans- For the payment of taxes under reverse charge, ITC cannot be claimed. Thus, reverse charge liability is required to be deposited through electronic cash ledger only. Further, the amount of taxes paid under reverse charge can be utilized to pay the output tax liability of the next month under normal charge.

Ans- If reverse charge is applicable on a particular supply then the composition dealer has to pay GST under reverse charge as a recipient of supply at normal GST rates as applicable.

INCOME TAX (6)

Ans:- Yes. You can file Income tax return if your income is below taxable. It is a good gesture that you are informing your income and expenditure details to the Government through Income Tax filing.

Category: INCOME TAX

Ans:- You do not have to pay Income Tax If your net taxable income is below taxable after all necessary deductions under various section of the Income Tax Act. But you have to pay tax if your net taxable income is above the taxable income.

Category: INCOME TAX

Ans:- Do not worry. You can claim the TDS by filing Income Tax return.  Income Tax department will refund  to your bank a/c.

Category: INCOME TAX

Ans- Advance tax needs to be paid by all those who have income other than salary and having tax liability of more than Rs. 10,000. When a person has income only from salary then he is not required to pay any Advance Tax as his employer deducts TDS from his payments. However in case his TDS is deducted less than what is required to be deducted, then there will be an Advance Tax liability that needs to be paid.

Category: INCOME TAX

Ans- ITR forms, whether filed manually or filed electronically, do not require any documents like proof of investment, TDS certificates, etc. However, these documents should be retained by the taxpayer and produced before the income tax authorities when demanded in situations like assessment, inquiry, etc.

Category: INCOME TAX

Ans- The excess tax can be claimed as refund by filing your I-T return. After your return is processed and provided the tax department accepts your refund claim, the amount claimed as refund would l be credited back to your bank account through Electronic Clearance Service (ECS) transfer

Category: INCOME TAX

PROFESSION TAX (5)

Ans- Every person engaged actively or otherwise in any profession, trade, callings or employment and falling under one or the other of the classes mentioned in the act.

Category: PROFESSION TAX

Ans:- The categories of persons liable for Profession Tax are any individual, a Hindu Undivided Family, firm, company, corporation or other corporate body, any society, club or association.

Category: PROFESSION TAX

Ans. Every employer who is liable to deduct and pay Profession Tax on behalf his employees, is given a registration certificate. Every person liable to pay profession tax, other than a person whose profession tax is payable and paid by his employer, is given a enrolment certificate i.e. enrolment certificate is issued to an individual person, company, society etc as the case may be only while registration certificate may be issued to any of categories of persons described in the schedule of Act.

Category: PROFESSION TAX

Ans. The self employed persons are eligible to get enrolment certificate

Category: PROFESSION TAX

Ans. Yes, they are eligible.

Category: PROFESSION TAX

TDS (6)

Ans:- TDS means ‘Tax Deducted at Source’. TDS is one of the modes of collection of taxes, by which a certain percentage of amount is deducted by a person at the time of making / crediting certain specific nature of payment to the other person and deducted amount is remitted to the Government Account.

Category: TDS

Ans:- It is an offence to misuse Tax Deducted at Source. It should have been remitted to government account within the specified time limit. Failure to deposit TDS attracts levy, interest, penalty and also rigorous imprisonment up to seven years.

Category: TDS

Ans:- The ultimate responsibility to pay tax rests on the person who has earned income. If the employee deposits such tax then the employer will be liable for interest and penalty for failure to deduct tax.

Category: TDS

Ans:- TDS/TCS returns filed in electronic form as per section 200(3)/206C as amended by Finance Act 2005 are quarterly TDS/TCS statements. As per the Income Tax Act these quarterly statements are required to be furnished from FY 2005-06 onwards. The forms used for quarterly e-TDS statements are Form Nos. 24Q 26Q and 27Q and for quarterly e-TCS statement is Form No. 27EQ.

Category: TDS

Ans:- As per Section 206 of Income Tax Act all  deductors are compulsorily required to file their TDS return on electronic media (i.e. e-TDS returns).

Category: TDS

Ans- TDS certificates are issued by the deductor (the person who is deducting tax) to the deductee (the person from whose payment the tax is deducted). There are mainly two types of TDS certificates issued by the deductor.

  1. Form 16: which is issued by the employer to the employee incorporating details of tax deducted by the employer throughout the year, and
  2. Form 16A: which is issued in all cases other than salary.
Category: TDS

WEST BENGAL LABOUR WELFARE FUND ACT (6)

Ans- The Act is applicable to
i) Factories as defined under the Factories Act, 1948,
ii) Tramway or Motor Transport Undertaking,
iii) Commercial establishment within the meaning of the provision of West Bengal Shops & Establishments Act, 1963 employing 10 or more persons
iv) All establishments within the meaning of ‘establishment for public entertainment or amusement’ as defined in clause (6) of section 2 of the West Bengal Shops & Establishments Act, 1963 (West Bengal Act XIII of 1963 ).

Ans- An employer of every establishment shall pay the employee’s contribution and employer’s contribution to the Welfare Commissioner, West Bengal Labour Welfare Board by Cheque or in Cash or by Money Order along with a statement giving full particulars in “From-D”

After payment of contribution each employer shall obtain Money Receipt as a token of payment from the Office of the Welfare Commissioner where payment is made.

Ans- If any employer fails to pay any contribution under the Act or fails to comply with any of the requirements of the Act or Rules framed thereunder or if any person will fully obstruct an Inspector in the exercise of his power or discharge of his duty or fails to produce for inspection on demand by an Inspector any register maintainable under the Act and the Rules made thereunder, he shall be punishable with imprisonment or with fine or with both.

Ans- Every employer shall pay half-yearly contribution of each employee and Employer’s contribution in respect of each such employee for the period ending on 30th June before 15th day of July and for the period ending on 31st December before 15th day of July and for the period ending on 31st December before 15th day of January of every year.

Ans- The employee’s contribution is Rs3/- half-yearly basis and the employers’ contribution in respect of each employee is Rs.6/- half-yearly basis.

Ans- All persons employed to do any work skilled or manual or clerical or technical or supervisory (excepting Supervisor working mainly in managerial capacity and drawing wages exceeding Rs. 1,600/- per month), Persons working as Sales Promotion employee, Contact labour are also covered under the Act.

WEST BENGAL SHOP & ESTABLISHMENT ACT (7)

Ans- Within 30 days of Commencement of business

Ans- Within seven days

Ans- Within 15 days of winding up of business

Ans- Once in every Three years

1. Register of Hours of work and rest interval in Form I
2. Register of leave in Form J
3. Register of Pay in Form M
4. Register of Overtime in Form U
5. Register of Employees in Form W

Ans- No, it cannot be done . Within 15 days of such transfer the Registration Certificate has to be surrendered specifying the change of ownership and apply for a new Registration Certificate.

Ans- No , they are not covered under the W.B.S & E Act 1963

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