Fidelity Professional Services Pvt Ltd

Fidelity Professional Services Pvt Ltd Fidelity Professional Services provides a wide array of Accounting, Taxation and Business Consultancy services with excellence.

Fidelity Professional Services Private Limited (“FIDELITY”)is a Private Limited company incorporated and domiciled in India and has its registered office at Delhi, India. It was incorporated in the year of 2013. FIDELITY is a service organization with vision of “ONE STOP SHOP FOR SERVICE RECEIVERS”, created by a pool of Chartered Accountants having experience in the field of Financial Services, In

direct Taxation, Direct Taxation, Company Law matters, FEMA and RBI compliances and Accounting Services. FIDELITY is providing a full range of high quality and cost effective financial services solutions to corporates, firms and individual’s businesses. Our team of professionals assists clients in every possible manner to solve all their business needs. Further, we also deal in services involving Company Registration in India, FEMA Matters, Transfer pricing, advisory services for cross border transactions, Advice on foreign direct investments (FDIs), LLP Registration, Import Export licenses, duty drawbacks, International Taxation, Management Consultancy and due diligence Services, Intellectual Property rights (IPR) services like trademark, copyright and patent registration in India and assist clients to achieve their funding requirements from banking and financial institutions. Today, we are successfully handling the service solutions that assist us in providing complete guidance to clients at every individual stage as desired by them, thus helping us achieve high satisfaction levels. Based on strong commitment of integrity, hardworking we always aim to provide qualitative and timely services to our client. The core values of our team are:
• Integrity
• Passion for qualitative and timely services
• Mutual understanding and respect
• Work in accordance to certain technical and professional standards
• Always honest to our clients
• Maintain a high standard of competence
• Respect clients’ confidentiality
• Keep organization up-to-date with best business practice
• Maintaining code of professional ethics
• Highly professional work

In addition to it, our team works on the basis of various factors including:
• Transform our knowledge and competence into competitive benefits for our clients
• Presenting quality services with integrity, expertise and professionalism
• Offer personalized services for meeting the variegated demands of our clients
• To enable clients make an informed decisions
• Enhance the prospects in the client’s areas of operation

15/04/2016

amendment in form DVAT 16, 17, 30, 31 w.e.f. 12.04.2016.

07/04/2016

From A.Y. 2016-17, individuals and HUFs having total income above 50 lakhs are required to disclose assets and liabilities in schedule AL in new ITR forms: CBDT notification 24/2016

29/02/2016

-Levy of heavy penalty for non payment of tax has led to high litigation. Proposal to modify scheme for penalties

-Penalty to be 50% of tax in income under-reporting cases, 200% in misreporting of facts

-Tax arrears can be paid in lieu of interest liabilities in retrospective taxation cases

-Monetary limit for cases to be decided by 1-member bench up from 15 lakh to 50 lakhs

-Incentives for new manufacturing companies and smaller enterprise companies

-11 new benches of tax tribunals to be established to reduce pendency

-To reduce multiplicity of taxes and cascading - 13 taxes with collection less than Rs 50 Cr a year abolished

-Companies Act to amended for ease of doing business; to enable registration of companies in a day

-Service tax exempted for housing construction of houses less than 60 sq metres

-15% surcharge on income tax for those with incomes exceeding 1 crore pa

-I propose to lower corporate IT rate for next financial yr of relatively small enterprises companies with turnovers nt exceeding 5cr

-Krishi Kalyan Cess of 0.5% on all taxable services

-Tax evasion will be countered strongly:

-Service tax on single premium annuity to be reduced to 1.5 percent from 3.5 percent.

-10% dividend on earnings over earnings over 10 lakhs

-Presumptive income tax scheme to be extended to all professionals with income of Rs 50 lakh with a presumption of 50 percent profit.

-Limited tax compliance window from Jun 1 - Sep 30 2016 for declaring undisclosed income at 45% including surcharge and penalties. There shall be no scrutiny or prosecution in this regard

-Clean energy cess increased from RS 200 per tonnne to 400 per tonnne on coal, lignite and peat

-Move towards a low tax regime with non litigious approach

-Committed to provide a stable and predictable taxation regime

29/02/2016

-New grading system of imposing penalties - on the basis of under reporting or concealment of income

-Excise duty on To***co products increased by 10-15%

-Net impact of taxation proposals is an increase in Govt revenue by Rs 19,610 cr

-Scope of e-assessment to be expanded to 7 mega cities

-Income tax department will expand e-sahyog to assist small taxpayers

-Start-ups to get 100% tax exemption for 3 years except MAT which will apply from April 2016-2019

29/02/2016

-No change in Income Tax slabs

-First time home buyer – Rs 50,000 deduction for upto Rs 35 lakh loan provided house cost not more than Rs 50 lakh

-Reduction of Rs 60,000 per annum for those who don’t own house and pay rent

-Penalty to be 50% of tax in income under-reporting cases, 200% in misreporting of facts

-National Pension scheme – withdrawal of 40% of corpus at time of retirement tax exempt

-National Pension scheme – withdrawal of 40% of corpus at time of retirement tax exempt

-FM announces 9 objectives for tax reforms

-Tax rebate for those earning less than 5 lakh per annum

-Under 5 lakh income – rebate increased from 2000 to 5000

-Corporate Tax – New manufacturing companies registered on/post March 01, 2016 – option of tax 25% surcharge + cess

-Lower Corporate tax for small companies at 29% surcharge + cess

-Presumptive tax extended for professional earning up to Rs 50 lakh

07/11/2015

The Central Government vide Notification No. 21/2015-ST and 22/2015-ST dated 6th November, 2015 shall implement Swatch Bharat Cess (SBC) at the rate of 0.5% of Value of taxable services w.e.f 15-11-2015.
Hence the effective rate of service tax shall be 14.5%.

12/09/2015

Dealers are required to file online Form Delhi Sugam-2 (DS2) before entering goods into Delhi w.e.f. 15-09-2015

20/07/2015

Entertainment tax in Delhi increased from 20% to 40% from Today

14/07/2015

RBI introduces 2 new annual return forms NBS8 and NBS9 for NBFC- ND with assets size of Rs100-500 Crore and with assets size below Rs 100 Crore Respectively Notification of 09.07.2015

19/05/2015

Service Tax rate 14.00 % w.e.f from 01.06.2015. Notification no. 14/2015.

No notification for swach bharat cess.

14/04/2015

Direct Allotment of PAN and TAN for new Registered companies without Application to NSDL
Notification No 38/2015 dated 10.4.15

03/04/2015

DVAT dealers can now carry forward excess tax credit (including Excess payment inadvertently made) beyond 31st March.

Address

New Delhi
110092

Telephone

0120-4228463

Website

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