AVR Associates

Tax Consultants

All tax matters

AVR Associates Provide Filing of Income tax, TDS Returns, Consultancy on Income Tax Matters, Tax Refunds, Tax Planning & Savings, Maintenance of Income Tax Records, Liaisoning with Income Tax Authorities, Tax deduction account numbers, PAN Card  services.

Who comes under tax purview?
Individual / HUF : Individual, HUF are required to file return of income according to source from which they are deriving Income.
Firm : Firm is defined in Section 2(23) of the Income Tax Act, 1961 as follows; "Firm" shall have the meaning assigned to it in the Indian Partnership Act, 1932 (9 of 1932), and shall include a limited liability partnership as defined in the Limited Liability Partnership Act, 2008.
Income Tax Return prescribed for Firm is ITR 5 and ITR 7.
Trust : Persons including companies required to file return u/s 139(4A) or u/s 139(4B) or u/s 139(4C) or u/s 139(4D) are required to file return in ITR 7.
Company : 1.    any Indian company, or
2.    any body corporate incorporated by or under the laws of a country outside India, or
3.    any institution, association or body which is or was assessable or was assessed as a company for any assessment year under the Indian Income-tax Act, 1922 (11 of 1922), or which is or was assessable or was assessed under this Act as a company for any assessment year commencing on or before the 1st day of April, 1970, or
4.    any institution, association or body, whether incorporated or not and whether Indian or non-Indian, which is declared by general or special order of the Board to be a company : Provided that such institution, association or body shall be deemed to be a company only for such assessment year or assessment years (whether commencing before the 1st day of April, 1971, or on or after that date) as may be specified in the declaration Income Tax Return prescribed for a Company is ITR 6 except for such companies as are claiming exemption u/s 11 of the Income Tax Act, 1961 and ITR 7.

Tax Payers Information Series:Download eBook
Taxation of Salaried Employees, Pensioners and Senior Citizens

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All Financial Services

 
Meet us for all your tax needs

Tax needs

  • Income Returns
  • Sales Tax 
  • Service Tax
  • ETDS Returns
Firm Registration in Visakha

Firm Registration

  • Partnership Firm Registration
  • Company Registration
  • Limited Liability (LLP) Registration


How to get PAN Card?

PAN Card

  • Getting Permanent Account Number (PAN)
  • Changes in PAN Card

Know more...

TDS

       Tax Deducted at Source

Entities (both corporate and non-corporate deductors) making payments (specified under Income Tax Act) to third parties (deductees) are required to deduct tax at source (Tax Deducted at Source -TDS) from these payments and deposit the same at any of the designated branches of banks authorised to collect taxes on behalf of Government of India. They should also furnish TDS returns containing details of deductee(s) and challan details relating to deposit of tax to ITD.

As a part of automation of collection, compilation and processing of TDS returns ITD has notified an "Electronic Filing of Returns of Tax Deducted at Source Scheme, 2003". It is applicable to all deductors furnishing their TDS return in electronic form. As per this scheme:

  • It is mandatory (w.e.f. June 1, 2003) for corporate deductors to furnish their TDS returns in electronic form (e-TDS return).
  • From F.Y. 2004-2005 onwards furnishing TDS returns in electronic form is also mandatory for government deductors in addition to corporate deductors.
  • Deductors (other than government and corporates) may file TDS return in electronic or physical form.
  • NSDL e-Governance Infrastructure Limited (NSDL) as the e- TDS Intermediary (appointed by ITD) receives, on behalf of ITD, the e-TDS returns from the deductors.

What is PAN?

Permanent Account Number (PAN)

PAN  is a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department.
It is mandatory to quote PAN on return of income, all correspondence with any income tax authority. From 1 January 2005 it will be mandatory to quote PAN on challans for any payments due to Income Tax Department.
It is also compulsory to quote PAN in all documents pertaining to financial transactions notified from time-to-time by the Central Board of Direct Taxes. Some such transactions are sale and purchase of immovable property or motor vehicle or payments in cash, of amounts exceeding Rs. 25,000/-to hotels and restaurants or in connection with travel to any foreign country. It is also mandatory to mention PAN for obtaining a telephone or cellular telephone connection. Likewise, PAN has to be mentioned for making a time deposit exceeding Rs. 50,000/- with a Bank or Post Office or depositing cash of Rs. 50,000/- or more in a Bank.
It is statutory responsibility of a person receiving document relating to economic or financial transactions notified by the CBDT to ensure that PAN has been duly quoted in the document. It is compulsory to quote PAN on return of income.
 A typical PAN is AABPS1205E.
Obtaining or possessing more than one PAN is against the law.

Tax Payers Information Series: Download eBook
TAX DEDUCTION AT SOURCE (TDS) OTHER THAN SALARIES

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Pay online

To avail the services, payments may be made to:
AVR Associates
Current Account: 1018102000004435
IDBI Bank, Seetammadhara, Visakhapatnam
IFSC Code: IBKL0001018

Contact

AVR Associates
Tax Consultants
50-81-43 Gurudwara Junction
Seethammapeta, Visakhapatnam 530 016
Ph: 0891- 2533723
Mobile: +91 9676234360
E-mail: avrassociatesvsp@gmail.com