Tax return switzerland
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Mycpa is the popular for Tax Return in Switzerland.Mycpa main services include tax consulting and tax preparations, however if you just arrived we can consult you on most financial/legal matters about living in Switzerland

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Tax Return Switzerland

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Tax return switzerland

Tax Return Switzerland

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Agenda

Agenda

  • Overview

  • Important Amendments

    • Individuals

    • Firms

    • Companies

    • Other Changes

  • Issues

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Overview

Overview

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Tax return forms

Tax Return Forms

  • Annexure less and are designed for e filing compatibility

    • According to the FM ‘The ITR 1 is the simplest return in the world’

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Tax return forms1

Tax Return Forms

  • Assessees to furnish information about high value transactions reflected in the AIR

  • Applicable only

    • Returns for earlier years to be filed in old forms

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Method s of filing return form

Methods of filing return form

Filing of Returns

i) Paper formi) With Digital Signature

ii) Bar coded return in ii) Without Digital Signature

paper form followed by verification in Form ITR V

Electronically

Manually

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Important amendments

IMPORTANT AMENDMENTS

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Individuals and hufs

Individuals and HUFs

  • Income tax rates have remained unchanged

  • Surcharge @ 10% in case taxable income exceeds Rs.1,000,000

  • Receipts in excess of Rs.50,000 without any consideration to be taxed

  • Deduction u/s. 80C extended to bank FDs

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Individuals and hufs1

Individuals and HUFs

  • Contribution to pension funds eligible for deduction subject to limit of Rs.100,000

  • Amended rule for computation of perquisite in case of deemed concession

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Issues

ISSUES

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Issues 1

Issues (1)

  • Dispensing with tax-paid challans and TDS certificates may result in refund delays

  • Duplication of AIR

  • No status reports for partners in ITR 3

  • Quantitative details of stock to be disclosed in return form

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Issues 2

Issues (2)

  • No separate heads for manufacturing expenditure in case of ITR 4, 5 and 6

  • Comparison of earlier year figures not possible

  • Absence of attachments may increase concealment risk

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Points to be kept in mind 3

Points to be kept in mind (3)

  • Deduction can be claimed only in tax return / revised return – AO not empowered to entertain claim in assessment proceedings

    • SC in Goetze (India) Ltd. (284 ITR 323)

  • Income can be claimed as exempt even if offered for tax in return

    • Bombay HC in Nirmala Mehta (269 ITR 1)

    • Allahabad HC in Abdul Qayume (184 ITR 404)

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Tax return switzerland

Thank you


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