V H P & Co.

20/09/2016

EPFO has made EPF withdrawal process very simple now. Employer signature or verification is no longer needed for taking out money from EPF account

09/09/2016

ITR DUE DATE for those whose accounts are required to be audited extended to 17th october 2016

19/06/2014

30/10/2013

TAX STRUCTURE IN INDIA, FUNNY BUT TRUE

1) Ques. : What are you doing?
Ans. : Business.
Tax : PAY PROFESSIONAL TAX!

2) Ques. : What are you doing in Business?
Ans. : Selling the Goods.
Tax : PAY SALES TAX!!

3) Ques. : From where are you getting Goods?
Ans. : From other State/Abroad
Tax : PAY CENTRAL SALES TAX, CUSTOM DUTY & OCTROI!

4) Ques. : What are you getting in Selling Goods?
Ans. : Profit.
Tax : PAY INCOME TAX!

5) Ques. : How do you distribute profit ?
Ans. : By way of dividend
Tax : Pay dividend distribution Tax

6) Ques. : Where you Manufacturing the Goods?
Ans. : Factory.
Tax : PAY EXCISE DUTY!

7) Ques. : Do you have Office / Warehouse/ Factory?
Ans. : Yes
Tax : PAY MUNICIPAL & FIRE TAX!

8) Ques. : Do you have Staff?
Ans. : Yes
Tax : PAY STAFF PROFESSIONAL TAX!

9) Ques. : Doing business in Millions?
Ans. : Yes
Tax : PAY TURNOVER TAX!
Ans. : No
Tax : Then pay Minimum Alternate Tax!

10) Ques. : Are you taking out over 25,000 Cash from Bank?
Ans. : Yes, for Salary.
Tax : PAY CASH HANDLING TAX!

11) Ques.: Where are you taking your client for Lunch & Dinner?
Ans. : Hotel
Tax : PAY FOOD & ENTERTAINMENT TAX!

12) Ques.: Are you going Out of Station for Business?
Ans.: Yes
Tax: PAY FRINGE BENEFIT TAX!

13) Ques.: Have you taken or given any Service/s?
Ans. : Yes
Tax : PAY SERVICE TAX!

14) Ques.: How come you got such a Big Amount?
Ans. : Gift on birthday.
Tax : PAY GIFT TAX!

15) Ques.: Do you have any Wealth?
Ans. : Yes
Tax : PAY WEALTH TAX!

16) Ques.: To reduce Tension, for entertainment, where are you going?
Ans. : Cinema or Resort.
Tax : PAY ENTERTAINMENT TAX!

17) Ques.: Have you purchased House?
Ans. : Yes
Tax : PAY STAMP DUTY & REGISTRATION FEE !

18) Ques.: How you Travel?
Ans. : Bus
Tax : PAY SURCHARGE!

19) Ques.: Any Additional Tax?
Ans. : Yes
Tax : PAY EDUCATIONAL, ADDITIONAL EDUCATIONAL & SURCHARGE ON ALL THE CENTRAL GOVT.'s TAX !!!

20) Ques.: Delayed any time Paying Any Tax?
Ans. : Yes
Tax : PAY INTEREST & PENALTY!

21) INDIAN :: Can I Die Now??
Ans. :: WAIT WE ARE ABOUT TO LAUNCH THE FUNERAL TAX!!!

29/09/2013

how is september going on?

20/09/2013

Once upon a time in a village, a man
announced to the villagers that he would buy
monkeys for Rs 10.
The villagers, seeing that there were many
monkeys around, went out to the forest and
started catching them..
The man bought thousands at Rs 10 and as
supply started to diminish, the villagers
stopped their effort.
He further announced that he would now buy
at Rs20.
This renewed the efforts of the villagers and
they started catching monkeys again.
Soon the supply diminished even further and
people started going back to their farms.
The offer rate increased to Rs 25 and the
supply of monkeys became so
little that it was an effort to even see a
monkey, let alone catch it!
The man now announced that he would buy
monkeys at Rs 50!
However, since he had to go to the city on
some business, his assistant would now buy
on behalf of him.
In the absence of the man, the assistant told
the villagers. Look at
all these monkeys in the big cage that the man
has collected. I will
sell them to you at Rs 35 and when the man
returns from the city, you
can sell it to him for Rs 50."
The villagers squeezed up with all their
savings and bought all the monkeys.
Then they never saw the man nor his
assistant, only monkeys everywhere!
Welcome to the 'Stock Market'

18/02/2013

Save more tax u/s 80CCG, which is over and above the total limit of Rs.1Lakh u/s 80C.

Launched by Ministry of Finanace, Finance Minister, Shri P. Chidambaram on February 09, 2013, in Mumbai

About RGESS:

Rajiv Gandhi Equity Savings Scheme, a new equity tax advantage savings scheme for equity investors in India, was introduced by Ministry of Finance,with the stated objective of "encouraging the savings of the small investors in the domestic capital markets." It was approved by The Union Finance Minister, Shri. P. Chidambaram on September 21, 2012. It is exclusively for the first time retail investors in securities market. This Scheme would give tax benefits to new investors who invest up to Rs. 50,000 and whose annual income is below Rs. 10 lakh.

Eligibility Criteria :

Annual Income less than or equal to Rs. 10 Lakh
Demat Account not yet opened
Existing Demat A/c but no transactions in Equity or derivative segment
2nd & 3rd holder of an account can open a new account as 1st holder & avail benefit
Investment only in DEMAT FORM
Quick Facts
Rs. 50,000. The maximum amount eligible for claiming benefit under RGESS.
Deduction available on Rs. 25,000 (50%)
Maximum benefit Rs. 5,000 (Income

31/01/2013

Hit like if it happens with you

30/01/2013

Results of IPCC are likely to be declared on 5th of Feb around 5 p.m.

30/01/2013

No. F.7(420)Policy/VAT/
Dated : 23 January 2013

CIRCULAR No.27 OF 2012-13

Subject: Filing of online returns for third quarter of 2012-13.

In order to facilitate' the filling of online DVAT !CST, in exercise of the powers conferred under Rule 49A of the DVAT Rules, 2005, the last date of online filing of return for third quarter of 2012-13 is extended upto 01.02.2013. The last date offiling ofhar.g copyof.the return for the above return period is also extended upto 05.02.2013.

However, the tax due for the above mentioned period shall be deposited as per the provisions of Section 3(4) of the DVAT Act, 2004. Penalty and interest on late deposit of tax due shall be imposed as applicable.

31/12/2012

Happy New Year