FACTServices Private Limited

31/08/2021

Job Location is Hyderabad.

19/08/2021

FACTS- Your Trusted Accounting Partner.

07/07/2021

On Boarding easy With FACTSERVICES

28/02/2021

Bookkeeping
Financial reporting
Accounts Receivable & Payable
Advanced Excel

11/10/2020

08/05/2020

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16/11/2016

Service Tax Online - News

24/05/2016

Search all the help on taxes,banking,calculators and more.Taxalertindia is the place where you will find solution of your query

21/05/2016

Search all the help on taxes,banking,calculators and more.Taxalertindia is the place where you will find solution of your query

13/04/2016

We are now FACTSERVICES PVT LTD, and looking for young energetic ,knowledgeable , willing to learn and like to keep abreast all the latest updates, to join us. Its the best place to work as you get to know differnt kind of work and people,We all can grow togather.If interested please send a mail to [email protected] or [email protected]

02/03/2016

Important changes in Budget impacting us related to Income Tax are as below –

1 Taxable perquisite limit for superannuation contribution
increased from Rs. 100000 to Rs. 150000/-

2. Benefit of interest on housing loan u/s 24 for Rs. 200000/-
was available subject to such acquisition or construction is
completed within three years from the end of the financial
year in which capital was borrowed. The three years limit
is now extended to Five years.

3. New section 80EE inserted as follows for providing
additional Rs. 50000/- benefit for First time home loan
buyer–

80EE.

(1) In computing the total income of an assessee, being an
individual, there shall be deducted, in accordance with
and subject to the provisions of this section, interest
payable on loan taken by him from any financial institution
for the purpose of acquisition of a residential property.
(2) The deduction under sub-section (1) shall not exceed fifty
thousand rupees and shall be allowed in computing the
total income of the individual for the assessment year
beginning on the 1st day of April, 2017 and subsequent
assessment years
(3) The deduction under sub-section (1) shall be subject to
the following conditions, namely:—
(i) the loan has been sanctioned by the financial institution
during the period beginning on the1st day of April, 2016
and ending on the 31st day of March, 2017;
(ii) the amount of loan sanctioned for acquisition of the
residential house property does not exceed thirty-five lakh
rupees;
(iii) the value of residential house property does not exceed
fifty lakh rupees;
(iv) the assessee does not own any residential house
property on the date of sanction of loan.

4. In section 80GG of the Income-tax Act, for the words “two
thousand rupees”, the words “five thousand rupees” shall
be substituted with effect from the 1st day of April, 2017.

5. Rebate of income-tax in case of certain individuals u/s 87A
increase from Rs. 2000/- to Rs. 5000/- (available in case
total taxable income is less than 500000/-)

6. Threshold limit for TDS deduction u/s 192A (TDS on
Payment of accumulated balance due to an employee)
increased from Rs . 30000/- to Rs. 50000/- effect from the
1st day of Jun, 2016.

7. Threshold limit for TDS deduction u/s 194C (TDS on
Contactors) increased from Rs. 75000/- to Rs. 100000/-
effect from the 1st day of Jun, 2016.

8. Surcharge rate on Income exceeding 1 crore increased
from 12% to 15%.

9. 40% of withdrawal amount will be only exempt i.e. 60% of
the withdrawal amount from Recognized PF and NPS will
now be taxable. This applies to all contribution made after
01-Apr-2016.


10. Employer contribution to recognized PF over and above Rs.
150000/- in a year will be treated as perquisite (Same as
superannuation contribution)