Friends Who Help you to Pay Taxes with Care

Most of the earning member who is under the Tax slab they have to pay taxes for income to the serviceable counterpart of state or union. This is the usual way of taxpaying to the government. The tax is a monetary indict upon an individual to the serviceable counterpart of state or union. There are many types of tax such as Taxes on income which includes capital gains tax, corporate tax, property tax, Expatriation tax, transfer tax, inheritance tax, income tax,   wealth tax, value added tax, sales tax, excessive and many more to say. These taxes may have the form of direct and indirect. It can be said the tax is a forced involuntary donation to put into effect in nature of the government of a state or union. There are many tax consulting firms India which is working around the globe to help the people to understand about tax and its amount he or she have to pay. They are professional in nature and can give vital opinion regarding the tax and how to pay less or how to safeguard your money from the government by using preventive measures.

The services offered include online tax filing India, Tax filing India,  Tax Consulting Services India, Online Tax Services India, online tax calculator India, and many more. The tax consulting firms India are providing online services mostly. These forms contain chartered accountant, corporate financial advisor and tax consultants and also for further more better service Income tax consultant India, Tax consultant India, Professional tax consultants India has been always beside you to guide in right paths. The teams are generally skilled in the tax related issues. These financial firms help in creating company in India, starting a business, registering of the foreign companies, getting approval for foreign investment, corporate requirement, accounts outsourcing, auditing, business taxation and many more. Most of the firms in India do the above services. They handle the complex issues regarding employment extra parts or sometime involvement of a foreign national in a company.

Most of the foreign entrepreneurs provide training and development to companies and their professional of joint ventures and technology transfer through them. The liberalization of the Indian economy helped this. To help these companies and Indian nationals these firms are established. The sometimes tie up with corporate companies to meet up their needs and to understand the legal environment of business in India because Indian govt. have power to regulate and restrict the movement and presence of foreign investments in India. Govt. Imposes and regulates through ministries like finance, home and corporate affairs. RBI is also involved with them. These firms are very much essential in India as the play a bridge in between the govt. and company to understand and create good relationship so both can get benefited from it.

The Image Saver of the Rules and Regulation Indian Financial Institutions

 

The tax is a contribution which most of the citizens have to give irrespective of the status. Every citizen pays taxes to the government which is in form of direct or indirect. There might be a possibility that a person may miss some information regarding paying taxes or paying large amount of taxes without knowing that they can get rebates if they do certain management. These tips and tricks many taxpayers don’t know or failed to keep in mind when filing cases. So professionals who are expert in tax related matters they made up firms to give relief to them who are in need of help to save from the pain of tax.

These firms offer services of high  professional tours are  Income tax consultant India, Tax consultant India, Professional tax consultants India and more. These people offer the best services of tax filing India , Tax Consulting Services India, If they have a website of their firm the offer services like an online tax calculator India, online tax filing India, Online Tax Services India. These services are sometimes paid and free as per their client. Most of these firms serve the corporate body than the individual. That doesn’t mean if any individual approach to them they will not pay service to them. Tax consulting firms India functions as an intermediate between the government and the individual to pay taxes and be responsible citizens in India.

There are many types of tax such as Taxes on income which includes capital gains tax, corporate tax, property tax, Expatriation tax, transfer tax, inheritance tax, income tax,   wealth tax, value added tax, sales tax, excessive and many more to say. These taxes are collected from the citizens or non citizens who are directly or indirectly involve in the beneficiary of financial or non financial services in the territory of Indian Govt. After the financial liberalization by the Govt. Of India many foreign investors are showing willingness in to invest money in India.

These firms, which are consist of experienced skilled and well informed chartered accountant, corporate financial advisor and tax consults   to make these foreign investors to understand the framers of the financial constitution of India. They also give them updates regarding the rules, regulation and policy formulation of India for the benefit and restriction on investment and financial transaction in India. These firms also involve in helping in the creation of the corporate body, helps an individual or a company to start and run their business smoothly. Jobs like accounts outsourcing, approval of company forms the government backups for the corporate these also come in the part of their work. They work with these corporations in joint venture to help them swiftly. These consulting firms help the countries financial image to remain good as far as possible by serving their clients with quality services.

Tips that will help salaried men to save taxes for the financial year 2012-2013

Before we discuss the “tax planning tips”, we need to understand the “tax slabs”. This will help us in making a better and detailed planning.

For a salaried man the tax slab for financial year 2012-2013 is mentioned as below:

For an income up to Rs. 2, 00,000 there are not taxes levied.

For an income range of Rs 2, 00,000 to Rs, 5, 00,000 a tax of 10% will be levied.

For an income range Rs. 5, 00,001 to 10, 00,000 a tax of 20% will be levied.

Any income above Rs. 10, 00,000 will attract a tax of 30%.

Also, a surcharge of 3% will be levied on final tax computation.

Where and how can you save taxes?

• ·         Under Section 80 C

You can invest up to an amount of Rs 1, 00,000. The deduction in yearly premium is only possible if the yearly premium is less than 10% of the Assured Sum, when it crosses the limit of 10% then the deductions will not beavailable under this section.

Various options to save taxes would be ELSS, Public Provident Fund, Employees Provident Fund, and Fixed Deposit for 5 years, Post Office SB, Infrastructure Bonds, Tuition fees of children and other expenditure on their education (barring Donations or Developmental Fee).

• ·         Under Section 80 CCD

You can get a deduction of 10% of the basic salary provided your employer contributes to your NPS account. NPS withdrawals are taxable though the returns are tax-free.

• ·         Under Section 80 D

When you pay a premium for any Tax consultant India yourself or for any of your dependents, then you get an exemption of Rest. 15,000.

If you pay a cost of Rs. 5,000 towards health check-up of self or any of the dependents then you get an exemption.

If you have a Senior Citizen who is depend on you then you can also get an exemption up to Rs. 20,000 towards the health check and any other medical expenditure you incur.

• ·         Under Section 80 DD

You can get a maximum deduction allowance up to an amount of Rs.50, 000 for the treatment or rehabilitation of disabled dependent and the deduction is increased up to Rs 1,000,000 if the extent of disability is severe.

• ·         Under Section 80 DDB

A deduction of Rs.40, 000 is given towards the treatment of life threatening diseases like Cancer or AIDS, however, this amount is increased up to Rs.60, 000 if the person is a Senior Citizen.

• ·         Under Section 80E

Deduction is allowed for repaying the interest of component of Education Loan beyond classXII.

• ·         Under Section 80 G

You may get an exemption of 25% or 50% or 75% or even 100% when you make donations to various charities and or political parties.

Apart from the above mentioned you may also get deductions on HRA, Conveyance allowance and other mode of income and expenditure depending upon the criteria of Various Sections.