Know The Best Tax Saving Instrument From Tax Consultants

There are a lot of tax saving instruments available in the market and persons can choose the one the best suited for them . The tax saving plans come with various investment options , which save the money for the person and at the same time provide give the added benefit of interest on the principal amount .

Ideally the person should visit the tax consultant in the first few quarters of the financial year to prudently invest the money and avoid the hasty decision of wrong investment . Only the tax consultant will help the person to take the best plan suited for individual needs and financial goals .

The tax saving plans should not just save the tax burden to the individual but also has to provide other benefits to the person . One can consult the Auditing services in Delhi NCR to know the exact taxable income and then plan the tax saving plans .

Life insurance is one of the best tax saving plans. It is not the investment plan in the true sense , but is give life cover and at the same time it helps to reduce the tax burden . Under the section 80 CC of the income tax act , the money that is paid in premium is deducted from the money counted as total income tax liability . The upper limit of deduction is one lac . Also, the amount that is paid to the person in case of any eventuality is not taxable .

The health insurance plan may not be viewed as the one of the best investment plan for saving taxable money but the fact is that this is also one of the best that is used for the tax saving benefits . Under 80 D of the act , the person saves the money on the premium that is paid as the premium . The upper case for the deduction is 15, 000 INR and can be the 20,000 INR for the senior persons. The deduction can be up to 35,000 INR for the persons who take the plan for for parents as well .

The equity- linked saving schemes mutual funds schemes are specially designed for the tax savings . The indivdual must consult the Income Tax Consultant in Delhi NCR to know the risk associated with the investment . Being market linked these schemes can be highly risky for some but can also give good returns on the investment . Also ,it has the shortest locking period for three years only .

Get The Best Consultation On Different Types Of Taxes

Taxes are the payment made by the general public to the Government. Taxes are one of the sources through which Government makes an earning. Taxes are of two types: Direct taxes and Indirect taxes. All the other different types of taxes fall under these two categories. Some of the major indirect taxes VAT, GST and Service Tax. These taxes are paid to the government for various reasons. As a citizen of India, all are adhered to pay these taxes who so ever falls under the category of eligibility.

Let us first discuss the most widely know is the VAT tax. VAT tax is an indirect tax paid to the government by the people who deal in production and selling of the goods. This tax is levied on the production of goods and is collected by levying it on the final customer. So finally, general public or you say the end user, has to pay this tax whenever they purchase the goods or buy any service.GST is also the same type and is levied on the general public.

The concept is the same and is applied on production o goods and services. The other taxes like service tax also falls under the same category. The service tax is paid by the ultimate user who buys the service. The concept is already been accepted by many of the foreign countries but arrived late in our country. We are the company, which give you the best advice on different types of taxes. Whether it is VAT or GST and service tax, we are the one who gives you the advice regarding it. We are the best VAT Consultants in Delhi-NCR.

The company was established by the brilliant consultants who has an in-depth knowledge of different types of taxes. Since in our country, the tax paid and the benefit to the general public is not so clearly visible, people do not want to pay these taxes, though they are for the benefit of the general public itself, but the people are still reluctant to pay these taxes. 

The company gives the best GST & Service Tax Consultancy Services in Delhi. If you also want to give the tax wisely, we are the best company from where you can get the advice. The staff of the company is very humble and intelligent and knows how your taxes can be paid without any mess.

The Best Company For Financial Works

Finance is an important part of life, whether it is professional life or personal life. Professional life is understood, but financial work still did not strike your mind? Have you seen your mother saving money separately? Have you seen your mother supporting your father in times of need, that too financially? Your mother is a housewife, right? Then from where she got so much money that she could support your father too? You have never seen her working in an office, though. The straight away answer is saving and auditing the expenses. The things also apply in your personal life.

Similarly, your father too pays the income tax to safeguard himself and his family from uncertain and unwanted circumstances. The above examples make clear, that handling and managing the finance is very crucial, whether it is your professional life or personal life. Therefore in every year end, the companies, conduct an auditing to know the actual financial status of the company.

The things are necessary not only to know the actual financial status but also for the future planning. If the amount comes to the surplus then further investments can be made or the savings can be done, and if the amount is in deficit, then you know where to cut the cost. The further decisions depend upon the current financial status and for this auditing and paying the taxes is utmost necessary so that further steps can be taken wisely. There are companies which help you in this regard. We are the best company giving the best Auditing services in Delhi NCR. The company not only gives you the best auditing services but also takes care of every financial aspect in all the industries and gives the best advice on Income Tax as well.

The company definitely is the best company, when it comes to handling the issues of Income Tax. Since the effects of paying the Income Tax is never visible clearly, the person is always reluctant to pay it. But in future, if he/ she wants to grow and increase his/ her standard of living then at one time he realizes that paying the Income Tax was actually beneficial for him. We are the best Income Tax Consultant in Delhi NCR who give you the best advice. The firm is the best when it comes to the trained staff. The staff of the company is supportive and gives the best advice to the clients.

Income Tax Liability Can Be Decreased Through Savings And Insurance Schemes

The market is full of instruments and various schemes that can help an individual to save the income tax and at the same time save the hard earned money . These various schemes are available to suit the temperament and saving goals of each individual . The money can be saved through various mutual funds , saving accounts and in various insurance policies .

There are tax related fixed deposits , where the rate of interest is same as those of other fixed rate deposits . But the person cannot withdraw the amount before the end of the expiry date. The interest earned from the tax related fixed deposit is free of tax , Auditing services in Delhi NCR that means that the person can earn good amount of interest and need not pay the tax .

If the person wants some flexibiity in the withdrawals , then he or she can go for public provident funds . There is high the degree of flexibility and ease in the public providnet funds and the person does not have to pay the tax on the interest earned on the deposits . All most all banks provide the facility of the public provident funds . But the person can not redeem the funds before the expiry of the fixed period . The loans are available but the tenure of the PPF has to complete the five years period . The fund is the most safests investment options that are available for the individuals .

Then there are unit linked insurance plans , that not only provide the insurance cover but also provide the safer investment options to clients . The money invested in unit linked insurance plans is put in shares and the client has the power to decide how much amount from his or her investment can be put into shares . By these policies , the client can get benefits that are available under the section 80 C of the income tax . The entire amount at the maturity period is also free and the scheme is made in such a manner that the client is urged to invest regularly in the plan .

National saving certificates Income Tax Consultant in Delhi NCR provide the options that keep the amount save with the government of India . The benefits of the tax saving are available under section 80 C of the income tax act . However , the investor must understand that the interest on national saving certificates is taxable . The consultations with experts will give clarity to the investor .

Impact of GST on The Tax Structure And on Various Businesses

The goods and services tax aims to bring uniformity in the india in the tax structure . The tax will create one market in India . The GST is the one tax on goods and services right from the manufacturer to the consumers . The input of the tax paid at the one point will be available in the subsequent stages of the chain supply . In other word , the GST is the tax on the value addition at each stage .

The final consumer will bear the tax charged by the last dealer in the supply chain .The benefits of the GST will come to every manufacturer and services provider in the supply chain . The single largest benefit will be that all the tax can be registered and paid onlne ,which means that there will be greater transparency in the compliance of the tax . The GST will come on the foundation of the robust and comprehensive IT system in India .The GST & Service Tax Consultancy Services in Delhi will help businessman to know that the indirect tax are common in the whole country . This uniformity in the taxes will increase certainty and ease of doing business in India .

This means that a businessman can set up the business in any part of the country and the tax liabilities will be same .The cost of transportation of the goods from one state to another state throughout the country will be reduced as the good will not be charged at the border of the state . The single most advantage of this removal of barriers at the border of the states will be that there will be no hidden costs in the business . The reduction in the cost of transportation of the goods and services , will generate competitiveness in trade and industry .

The subsuming of many major and central and state taxes in the GST combined with the phasing out of the central sales tax will reduce the cost of locally produced goods and services . This may increases exports from India , as the cost of Indian good become competitive in the international market . The uniformity in tax regime and ease of compliance Auditing services in Delhi NCR with the tax regime wil make Indian business competitive in the long run . The consumers are going to benefit as the cost of the goods and services will be down and in some categories , the cost will be at the lowest level .  

Difference Between Direct Tax And Indirect Tax

Income tax is the portion of the income that one pays to the government for the payment of central and state government salaries , development of infrastructure and maintenance of the security of the country . The tax are levied on the law that is called income tax act , 1961. income tax is one of the many direct taxes that we play . The other direct taxes are capital tax , security transaction tax etc . The direct taxes are paid by the person directly .

The indirect taxes are paid by the consumers , when they use services at hotel , restaurants, in the form of service tax , entertainment tax ect . The other major indirect taxes are sale tax , value added tax , octroi etc . The income tax forms that major part of the revenue of the government of india . The function are managed by the ministry of finance and the direct handling responsibility is given to the central board of direct taxes . In direct tax has the effect of increasing the price of the products on which the tax is imposed .

                        

The example is the value added tax , which increases the price of the goods , which we buy . The VAT Consultants in Delhi NCR value added tax is imposed on the manufacturers , who then transfer the tax to the customers .Income tax has to be paid by the every individual , united Hindu family member , body of individual , corporate body , companies , local authorities and other person that generate the income that comes under the income tax slabs .

The income tax slabs may change from time to time and are not fixed for the longer duration . The tax are calculated on the annual income of the person . The year which is taken into calculation is the financial year not the normal year . The year in which the income is earned is called the previous year and the year in which the income is levied for tax is called assessment year .

                        

The taxes are collected by three ways by the government . The first is the voluntary payment of the tax like advanced tax and self assessment tax Income Tax Consultant in Delhi NCR . Then there is tax deduction at source , that is the deduction of the tax from the salary at the time of its payment every month . The final is tax collected . The government wants to bring the goods and services tax to remove several taxes and streamline the tax regime .

Work with Chartered Accountant Who Have Extensive Expertise in Tax Preparation

Malik Girish Anand & Co is professionally managed chartered accounting firm which was started back in 1992 and hasn’t looked back since. The firm is a full service tax planning and tax preparation service provider. They work tirelessly and within the legal jurisdiction for planning tax returns for estates, trusts, partnerships, corporations, and individuals.

The company relies on the unmatched experience of the top chartered accountants who have been working with them for many years and are aware of the vision that the firm holds for its huge clientele. They will go to any and all limits to meet all your taxation, auditing, and certification needs – they provide certified public accountants, enrolled agents, as well as tax lawyers for making everything simpler for the clients.

For more than 25 years, Malik Girish Anand & Co has provided all its clients with high-quality and reliable accounting service ranging from auditing, tax preparation, certification, trademark, payroll, outsourcing for business and individuals, to bookkeeping, VAT and financial reporting. The firm is conveniently located in the heart of the capital where all the metro stations and bus stops meet.

All the accountants and working staff members are professionally trained and have gone through classes relating to the preparation of various taxes and auditing to be up to date with the latest and constantly changing tax laws and to provide the clients with reliable, accurate, and effective services.

Tax returns and bookkeeping are two most important documents of your financial report and should be taken seriously. At Malik Girish Anand & Co, VAT Consultants in Delhi NCR are guided responsibly to provide the best service possible in a safe environment without getting into any tax issue in present or the future.

Something that the firm does which other taxation companies don’t is telling the clients that if they have straight-forward and basic tax return, then they can prepare it themselves. This level of transparency has led the firm to the very top of the market. They will gladly provide Income Tax Consultant in Delhi NCR for clients who want assistance with their tax returns and if they have moved up the professional food chain as the taxes tend to get more complex and risk of paying more than your actual tax increases exponentially.