WHATSAPP NO. - +91 87290-71596,
CALL 24 X 7 : +91 87290-71596,
GET IN TOUCH - taxandfinanceservice@yahoo.com
|
Direct tax is a tax levied by the government on individuals or entities (corporate and non-corporate). The main types of direct taxes are income tax,
corporation tax, property tax, inheritance tax, and gift tax. Direct taxes differ from indirect taxes, such as value-added tax (VAT) and excise duty
levied on transactions. While direct taxes are imposed on the income or wealth of individuals or entities, indirect taxes are levied on the sale of
goods and services. There are many advantages of direct tax. Direct tax is a stable source of revenue for the government, and it is also difficult to
avoid or evade direct taxes. Moreover,
direct taxes help reduce social inequalities by taxing the rich more than the poor. However, direct taxes can be burdensome for taxpayers and lead to an economic slowdown.
Direct taxes are levied on individuals and companies by the country's supreme tax body. Direct taxes are directly paid by those on whom it is imposed.
For instance, taxpayers directly pay income tax, property tax, tax on assets and gifts to the government.
Direct taxes are generally progressive, meaning those with higher incomes pay higher rates than those with lower incomes. This allows the government to collect more revenue from those who can afford to pay more. Direct taxes are typically earmarked for specific purposes, such as education or infrastructure development. Direct taxes are transferable to another person or organisation. The companies and individuals on whom the direct taxes are applied are solely responsible for paying the taxes. Failure to pay taxes on time may result in fines and imprisonments. Direct tax system, based on the brackets system, may turn out to be discouraging as it imposes higher taxes on those working hard to earn a higher income. Hence, people, with the view of needing to pay higher taxes, may settle and cap their productivity to reduce their outgo.
Well planned tax strategy done with a professional consultancy is an integral part of viable business decisions. With changes in the economy,
the tax landscape has also changed. To keep know-how of ever-increasing tax compliances, new business policies, reforms introduced in line with
amendments is imperative for a taxpayer.
But being an obligatory policy on a taxpayer, it is a necessity to keep all tax liabilities managed within the domestic and international legal framework.
At financetaxservices.com, hired for direct tax consultation assure in the best possible manner to help our associated individual and corporate taxpayers to file their tax dues/compliances well on time avoiding hassles of penalties and legal complications. Taxation law in India requires fulfilment of tax compliance related to corporate, commercial and financial transactions which require proper tax advisory, representation, and understanding of arbitration and litigation clauses. Each entity in India requires direct tax consultation for capital formation, use of tax subsidies, private equity transactions, transfer pricing, tax opinion, cross border taxation, etc. We assure to keep our clients off with penalties by timely handling their compliances related to TDS payments, filing of annual returns and liasoning with Income Tax authorities, in-taking timely tax demand, refunds scrutiny, and dispute procedures. For all Individuals/NRIs/Corporate entities, we have a plethora of tax strategies and compliance services. We provide advisory on all tax-related aspects including on transactions of commercial and financial nature. We give peace of mind by making you understand what you are bookkeeping and how you’ll be managing your taxes without putting any extra effort with us. Direct tax consultancy together with innovative tax efficient strategies, provided by us form an integral part of viable business decisions. These help our clients attain the desired goals. We adopt a “result oriented approach” which is flexible and emphasizes delivery and value. It enhances the effect of commercially viable decisions and minimizes the tax burden.
Every assessee, before submitting a tax return, is required to make a self-assessment of income and after taking into account the
amount of tax already paid by way of TDS and advance tax, pays the balance tax (self-assessment tax) due on the income. Further,
along with the tax, any interest arising on account of delay in furnishing of tax return or any default /deferment in payment of advance tax, is also required to be paid.
The procedure for self-assessment and determination of tax liability has been depicted below by way of a flowchart.
FINANCETAXSERVICES.COM practice is a long-established one with specialists across all regulations and experience with Income tax preparation, assessment, scrutiny and dispute cases. Our tax consulting practice assists our clients with the following services:
We have served small, medium and big businesses fight the fear of taxation phantom through sound consultation and on-time service delivery for years.
We earned our reputation as a reliable tax consultant for businesses and individuals through its persistent commitment and a track record that speaks volumes of our credibility. Resellers you can also call and have a business tie up. Want to know more relating to Indian Tax law, Email us on taxandfinanceservice@yahoo.com now and we would be happy to assist you! |
|
When we took the decision to invest in business in India, we were not sure on which structure to form for our Indian business. We have through their vast experience helped us to decide the same and build a strong business model. To achieve great things in life , "We must dream, plan, act and believe"
|
| |
OR EMAIL US : taxandfinanceservice@yahoo.com | |
|
|
Website Design, Developed and Marketed by:
https://digitalleworld.com/
|
Digital E-WORLD
|