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Shfinserv is a body of practicing consultants from multiple field with core domain exposure to deliver services satisfactory to clients.

CFO Services
03/11/2022

CFO Services

SHFinServOne Stop Destination For All Financial Services
04/10/2022

SHFinServ
One Stop Destination For All Financial Services

30/07/2022

SHFinServ

ITR Filing: Know income tax return (ITR) form applicable to you, penalty for missing the deadline

ITR form applicable to you

One must choose the correct ITR form while filing their tax return. If the wrong ITR form is used for filing income tax return, then such return will be termed as defective return, and the tax department will send you a notice in this regard.

1) ITR -1

If an individual has income from salary, one house property, other sources such as interest income, dividend, agricultural income up to Rs 5,000, then he/she is eligible to file tax return using ITR -1.

2) ITR -2

if the total income exceeds Rs 50 lakh or he/she has income from capital gains, or holding unlisted equity shares, then he/she will be required to file ITR-2.

3) ITR-3 /4

For individual having income from business or profession, one must file income tax return using ITR-3 or ITR-4 as applicable

Penalty for Missing deadline

A taxpayer will be required to pay a late filing fee for filing a belated return. This fee of Rs.5,000 is levied under section 234F of the Income-tax Act, 1961. However, for small taxpayers having total income up to Rs.5 lakh, late filing fee will not exceed Rs 1,000. This fee must be deposited before the belated ITR is filed

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M- 89800 24240
M- 94279 25425
SHFinServ Stop Destination for all financial services

29/07/2022

InvestmentGyan -I

Worry About Parking Money for Short Term

Here are Five Smart Options to Park Your Funds

a) Debt funds like
Overnight Funds ,
Liquid Funds
Ultra Short term funds ,
Money Market Funds And
Low Duration Funds

b) Bank Fixed Deposits

C) Company Deposits

d) Post Office Time Deposits

e) Arbitrage Funds

For more information Contact us on

89800 24240
SHFinServ # One Stop Destination For All your Financial Services

# SHFinServ Top 5 things to keep in mind while filing income tax returns Filed ITR for AY 2022-23The deadline for filin...
13/07/2022

# SHFinServ

Top 5 things to keep in mind while filing income tax returns Filed ITR for AY 2022-23

The deadline for filing income tax returns for the fiscal year 2021-22 and 2022-23 is quickly approaching.

So, if you haven't filed your IT taxes for FY 21-22 yet, make sure you do so by July 31, as that is the deadline. Additionally, before submitting your ITR, you should gather any earnings and investment-related papers.

Top 5 things to keep in mind:

a) Though the Income Tax Department provides pre-filled forms to make filing tax returns easier, you should maintain all relevant papers on hand and cross-check every field in the pre-filled form.
b) Make certain that you report all sources of income. This will assist you in avoiding any penalties.
c) When submitting your income tax return, compare the tax deducted on Forms 16 and 26AS.

d) If the TDS amount on Forms 16 and 26AS is not the same, contact the employer and have it corrected.

Form 16: It is a document produced by your employer that details your salary for the year as well as the TDS deducted.

Form 26AS: It is a statement of taxes deducted on your behalf and taxes paid on your behalf over the course of a fiscal year.

e) Before filing the return, select your tax regime (new or old) based on your needs.

The new regime calculates tax at a lower slab rate, but the taxpayer is forced to forego several deductions.

Contact Us On

89800 24240
SHFinServ
One Stop Destination for All Financial Services

# SHFinServ 3 income tax changes effective from July'22With July comes a few new changes to income tax rules applicable...
13/07/2022

# SHFinServ

3 income tax changes effective from July'22

With July comes a few new changes to income tax rules applicable to different taxpayers. Here is a look at three important income tax related changes that will come into effect from July 1, 2022.

I) TDS on cryptocurrencies:-
Earlier this year, the Finance Minister Nirmala Sitharaman proposed a 1% tax deducted at source (TDS) on any payment made in exchange for the transfer of virtual digital assets (VDAs), often known as cryptocurrency and non-fungible tokens (NFTs). For transactions totaling more than Rs 10,000, the TDS rule will go into effect on Friday, July 1

The tax at the time of transfer of VDA will be deducted at the rate of 20% if the deductee (buyer's) PAN is not readily available. Additionally, if the payer is not one of the specified people, TDS will be withheld at a higher rate of 5% (as opposed to the usual rate of 1%) if the individual has not submitted his or her income tax return.

II) PAN Aadhaar linking fine
A fee of Rs 1,000 would be applicable if the PAN-Aadhaar link is completed on or after July 1, 2022. Earlier, till June 30, the charge was Rs. 500. So when an individual links their PAN and Aadhaar, they first have to pay the penalty and request to link PAN aadhaar

III) TDS rule for doctors, social media influencers
Doctors and social media influencers will be subject to 10 percent tax Deducted at Source (TDS) beginning July 1, 2022, on benefits received from companies for sales promotion. The provider of the benefit or perquisite may directly deduct the tax under Section 194R, according to a notification from the Central Board of Direct Taxes (CBDT), although the taxpayer must verify the recipient's possession of any taxable amounts.
According to section 194R, “Section 194R – Deduction of tax in case any benefit or perquisite is provided and aggregate value of such benefit/perquisite exceeds Rs.20,000

Stressing You out? 5 Ways to inflation- proof your Portfolio..1) Plan your Expenses 2) Effectively plan your Investmen...
27/06/2022

Stressing You out?

5 Ways to inflation- proof your Portfolio..

1) Plan your Expenses
2) Effectively plan your Investment Portfolio
3) Invest in inflation-demand consumer product stocks
4) Deposit money in a high- yielding savings account
5) Do not panic about the Situation

# SHFinServ

One Stop Destination for All your Financial Need

| Market ends on a positive note after day six of fall.
20/06/2022

|
Market ends on a positive note after day six of fall.

The Federal Reserve approved the largest interest rate increase since 1994 and signaled it would continue lifting rates ...
16/06/2022

The Federal Reserve approved the largest interest rate increase since 1994 and signaled it would continue lifting rates this year at the most rapid pace in decades as it races to slow the economy and combat inflation that is running at a 40-year high.

Officials agreed to a 0.75-percentage-point rate rise at their two-day policy meeting that concluded Wednesday, which will increase the Fed’s benchmark federal-funds rate to a range between 1.5% and 1.75%.

# SHFinServ
One stop destination for All financial services

सही निवेश करने की जिसने सीख ली कला,वही बुद्धिमान है और उसी का हो रहा है भला.
15/06/2022

सही निवेश करने की जिसने सीख ली कला,
वही बुद्धिमान है और उसी का हो रहा है भला.

Companies with high ROEs could make for better bets during volatilitySHFinServ
15/06/2022

Companies with high ROEs could make for better bets during volatility

SHFinServ

Never depend on a single income. Make an investment to create a second source.💰
10/06/2022

Never depend on a single income.
Make an investment to create a second source.💰

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Ankleshwar
393002

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Tuesday 10am - 6:30pm
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