Tax Consultancy Service in Keshri Nagar, Patna

What is Tax Planning? A taxpayer is an individual, a business, or an organization who earns money and tax planning is an art undertaken by a tax payer to reduce the total tax liability by proper planning and optimal utilization of all the allowances, deductions, rebates, concessions and exclusions available well within the legal framework. It simply is the management of your income and taxes in a manner that makes you pay less of your hard-earned income in income tax. Tax planning is the analysis of a financial situation from a tax perspective. Why tax planning? It reduces tax liability –By properly arranging liability according to the tax laws and doing precise and planned investment can reduce the tax liability to the maximum. Tax litigation is minimized –A proper tax planning minimizes the risk and conforms to the provisions of tax laws and thus minimizes the incidences of tax litigation. Helps in making the right investment choices – The objective of tax planning is to channelize the taxable income to different investment plans. This reduces the tax paid and thus utilizes money in right investment choices. Impacts economic growth positively –Tax planning methods generate white income and thus via channelizing income positively results in the sound growth in the economy of the country. Here at Shri Ashutosh Securities Pvt. Ltd., our consultants have mastery of the current tax law, complex tax code, and new tax regulations. Also, there are various provisions in the Income Tax Act to save tax. The saving schemes one should opt for would depend on the person income and the tax bracket he/ she is in and our team of professionals helps you at each step and come up with best tax saving plans within the legal framework. Our professionals aim not only to give you short-term tax benefits but also plans to minimize long-term tax implications. We also do periodic review and assessment of our plan and do necessary amends as and when required.

A person who is liable to deduct tax at source has to file the TDS return as part of compliance. A TDS return is submitted by Tax Deductor in respect of every quarter with the Income Tax Department. The return is a statement that entails the details of the tax collected, source of collection and tax paid to Government for the reporting period. Generally, tax is deducted on transactions such as Salaries, payment to professionals and contractual basis, payment of rents exceeding certain amount, etc. For every such type of transaction and payment, there is prescribed rate of interest. The deductee can claim the benefit of the tax deducted while ITR filing, only if the deductor has filed the TDS return on time.

Income Tax, mining license service, pollution license services, services tax

income tax return filing, GST Return, tds return, Udyog Aadhar Registration

COMPANY REGISTRATION CONSULTANT

Income Tax E-Filling Services, ROC Annual Compliance