If the terrain is very rough, it helps if the vehicle has a 4x4 turbo drive. Similarly, your tax planning can ride over unforeseen rough conditions if you follow these practices while submitting your investment declaration. Here’s how to give your investment declaration the 4x4 advantage and turn the annual ritual into an effective tax planning tool. I. Who should submit the … [Read more...] about 4×4 Power for your tax planning
TDS & Credits
TDS RETURN FILING: know law, software process and benefits of outsourcing
The due date for filing TDS returns under Income Tax is defined as below; 1st Quarter April –June – 31st July 2nd Quarter July –Sep – 31st Oct 3rd Quarter Oct –Dec – 31st Jan 4th Quarter Jan –Mar – 31st May As per, Section 192 of the Income Tax Act, every person responsible for paying any income which is chargeable under the head ‘Salary’ should deduct TDS … [Read more...] about TDS RETURN FILING: know law, software process and benefits of outsourcing
To Lower Tax Outgo Opt for ‘Consultant’ Status
Are you considering shifting from an employment arrangement with your company to a ‘consultant’ status to lower tax outgo leading to higher take-home package? As consultants you are required to pay a flat 10 percent tax on income while an employee is taxed as per applicable slab, the highest being 30 per cent along with surcharge. The dilemma of whether to take up the … [Read more...] about To Lower Tax Outgo Opt for ‘Consultant’ Status
