Starting your own professional tax practice is a unique process, with Internal Revenue Services (IRS) requirements and ever – changing laws adding to the complexity. Following are the Steps Involved in starting up a Own Income Tax Business: STEPS: Get Register Your Business with your State … [Read more...] about What does it take to start Your Own income Tax Business? Step By Step
Non disclosure of income or assets will catch u in Black money Act and Binami Transaction Act. So one should take the expert advise to determine a particular income as taxable on non taxableincome . There are several incomes like dividend income, agricultural income, exempted leave encashment, … [Read more...] about Top 7 Unusual Types of Income you should Include on Your ITR
Want to make taxes easier. Lets try the below and you will definitely find the difference from earlier for your tax return filing. Behold Last Year’s Tax Return: Yes its always good if you can have the past data handy which helps to find the additional information or changes required to be … [Read more...] about Top 5 Tips to Make Taxes Easier This or Next Year
Taking tax as career helps an individual to be more attentive and sharp because it deals with lot of numbers and regular updates as being a professional we should be thorough with the same and need to pass the benefit of the update to the client then only value addition can be done. Tax can be … [Read more...] about Top 5 Reasons why Tax Preparation is a Great Career
Myth 1: Getting a Tax refund in this year means, there is no need to pay withholding tax for the next year. Truth: Refund in one year will be adjusted in the next year tax due to department if both years are under the assessment and interest , penalties can still be levied . Adjustment of … [Read more...] about Top 5 Myths about Tax Refunds
– On time filing avoid penalties The Income Tax Department levies a penalty onassesee’s for non filing of tax return within the prescribed due dates. It may extend upto Rs 10000. Tax credit claim - In order to avail the tax credit out of the taxes paid in India when filing the foreign … [Read more...] about Top 5 Benefits of Filing Income Tax Return Online.