R. T. Mirza & Co.

Chartered Accountants

Welcomes You

This is not a simple salutation. This is an Arabic greetings which means peace be on you. If anybody is wishing you peace, it means he is assuring you that you are safe with him. This was important to tell you because my subject is about taxes.

The changed times brings in unprecedented Competition & Problems!

GoodsSales Transport AssetsAudit Management Staff Management Cash Flow Stocks Taxes Customers Inspection Purchases Banking Suppliers

Is there any

solution?

Just a few to list

This presentation will tell you about Advantages

of Tax to Tax Payers.

Yes.

Verses 58: 7

Verses 58: 7 (Translation)

Verses 4: 114 & Translation

What is Tax?
A fee charged ("levied") by a government on a product, income, or activity is Tax. If tax is levied directly on personal or corporate income, then it is a direct tax. If tax is levied on the price of a good or service, then it is called an indirect tax.

Purpose of Taxation
The purpose of taxation is to finance government expenditure. Few of the most important uses of taxes is to finance public goods and services, such as street lighting, street cleaning, Hospitals, Schools, Roads, Bridges, Dams, Army and so on.

History of Taxation
Ancient History Nearly 2000 years ago, there went out a decree from Ceaser Augustus that the entire world should be taxed. In Greece, Germany and Roman Empires, taxes were also levied sometime on the basis of turnover and sometimes on occupations. British Taxation First time in England in 1694 in the form of stamp duty Till 1802 it was only in times of war After 1803 as regular tax First time in India in Feb 1860

History of Taxation
Jazia The word jazia is explained as meaning the tax that is taken from the free non-Muslim subjects of a Muslim government. In Quran, it is spoken of only once, and there in connection with war with the followers of the Book: "Fight with those who do not believe in God. Zakat Obligatory payment made once a year under Islamic law which is used for charity and religious purposes

Verses 12: 76 & Translation

Verses 83: 1-6

Verses 83: 1-6 (Translation)

Verses 4: 86 & Translation

When a (courteous) greeting is offered to you, meet it with a greeting still more courteous, or (at least) of equal courtesy. Allah takes careful account of all things

Advantages to Taxpayers
Satisfied self Esteem Contribution in Nation Building Law abiding Citizen Can participate in Tenders Can have PAN Advantages of PAN Accountability

PAN is compulsory

Sale or purchase of any immovable property valued at Rupees five lakh or more. Sale or purchase of a motor vehicle or vehicles, which requires registration by a registering authority. A time deposit, exceeding fifty thousand rupees, with a banking company to which the Banking Regulation Act, 1949 applies (including any bank or banking institution referred to in section 51 of that Act) A deposit, exceeding fifty thousand rupees, in any account with Post Office Saving Bank

PAN is compulsory
A contract of a value exceeding ten lakh rupees, for sale or purchase of securities as defined in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 Opening an account with a banking company to which the Banking Regulation Act, 1949 applies (including any bank or banking institution referred to in section 51 of that Act,) Making an application for installation of a telephone connection (including a cellular telephone connection) Payment to hotels and restaurants against their bills for an amount exceeding twenty five thousand rupees at any one time.

Registration
Shop & Establishment Income Tax / PAN VAT

VAT
Single point Tax Easy & Simple TIN Number - Advantages

Verses 2: 282 & Translation

O ye who believe! When ye deal with each other, in transactions involving future obligations in a fixed period of time, reduce them to writing..

Accounting
Know your profitability Reduce your expenses Compare with previous figures Compare with competitors Pay exact taxes Save on recoveries / Bad debts Save on thefts & misappropriations Mechanise it to make yourself free

Banking & Finance

Term Loans Cash Credit & Overdraft Other Facilities

Opportunities
Government & Non Government Tenders Purchase of Property Other Opportunities

Growth
Existing Business New Business Other Opportunities

Advantages of Chamber
You get a panel of experts free of cost People on whom you can rely People devoted to the cause of trade Great leaders who can stand by you You can also become part of it

R. T. Mirza & Co.

Chartered Accountants

Tel No : 9225232100 , 2560920

Thank You