Direct
Taxation
What is Corporate Tax?
Corporate Tax is probably one of the most well- known aspects of running any business. However, it is also one of the most confusing aspects as well. This is because there is no industry that has the same rules and regulations as the other. They may be similar but are never the same. There are different requirements, tax rebates and taxes that companies have to abide by. It is no longer enough to just pay the taxes alone. There is a long process involved that also requires the generation of a lot of documents as well. Since it is not possible for every entrepreneur or small scale industry to know these aspects of their own industries, it is always best to hire an expert on these issues and employ their services for the same.
Benefits of Corporate Tax
All domestic and international businesses ae required to pay a certain amount of corporate tax when they are operating in India under the Income Tax Act. Even though it may seem like an additional expense that you will have to incur, there are many benefits to getting your Corporate Taxes filled out:
1. Major Contributors to Public Projects: For a developing country like India, issuing corporate taxes are a great way of having a robust taxing system that will allow the government to have greater funds for public projects. It is a great initiative for all. If you are cooperation, you want that the country you are investing in has some great public systems that will in turn end up boosting your business as well.
2. Controls Monopolistic Tendencies: Corporate Taxes are important in a democracy to ensure that the market has a balance. It is entirely possible for foreign brands to completely dominate the Indian market if certain checks and regulations are not in place for them. This also gives a boost to the Indian entrepreneurs as local businesses are not taxed as heavily as the foreign enterprises.
What is an Income Tax Return Filing?
More than businesses and entrepreneur, every citizen is required to fill in the income tax form. If your annual income is more than Rs 2, 50, 000, you have to file for an income tax return. However, there are several brackets that government has set in place in order to protect the economically weaker sections of society from any kind of unnecessary taxations that they will not be able to survive. It is not always the case that we have all the information we need to file our tax returns. On top of filling the tax returns, the rules and regulations for this filling may also change every year. For example, the year 2022 required an online acknowledgement that the tax return form has been submitted. It was looked upon as an additional step by many. However, it is just a small step to give the government agencies more clarity on the tax returns.
Benefits of Income Tax Return Fillings:
Important Legal Document
Your ITR filing will act as a legal document that you can use in a number of forms in the future as well. This is particularly true for any time you have some requirement to fulfill at the bank and/ or any aspect of your PAN card as well. It is considered to be one of the most important documents when you have to give in proof of your income anywhere.
Easy to Apply for Loans
As mentioned above, your ITR is a primary income document generated by the government. They are also one of the most important documents that you need to take care of when you are applying for a loan as that is the only eligible document to show your eligibility in most cases.
₹₹₹
Why We?
We have 9 year of experience in the field of Income tax return filing. We provide income tax return filing services to individual HUF proprietorship firms partnership firms trust body corporate and companies. We have already filed more than 5987 Income tax returns till date and these number increasing day by day.
We’d Love to Help You With Your Financial Plan
Our Services
- Direct Taxation
- Goods & Services Tax
- Company Registration
- Audit & Assurance
- Account Sourcing & Bookkeeping
- TDS & TCS Compliance
- Miscellaneous Registrations
Contact Us
- Call us at: 011-43074506
- Email: [email protected]
- Address: 6/94 First Floor, Main Karkari Rd, Vishwas Nagar, Shahdara, Delhi, 110032
- Open: Mon - Sat | Sundays Closed
- Timings: 10:00AM - 06:00 PM