5 Questions To Ask While Hiring An Income Tax Consultant In Kolkata!

Do you face difficulties while filing income tax returns? Are you on the lookout for professionals who can offer effective tax preparation services? Still wondering how to choose a professional who provides the right assistance and support? Fret not. All you need to do is check out few questions which you must ask a professional for making an informed choice!

When it comes to income tax, choosing the right consultant can indeed be an overwhelming task. Be it the aspects which must be taken into consideration or the qualities to look for in a professional, there are several factors which you must consider for taking the right decision. A prior knowledge of the selection process can thus help you in making a well-informed decision!

income tax consultant

Read on then to check out the questions which you must ask a professional before hiring him!

Few Essential Questions To Ask Before Choosing An Income Tax Consultant In Kolkata

1.What Types Of Clients Have You Previously Worked With?
It’s important to ensure that the professional or the firm you are willing to work with, has an understanding of the type of business you are associated with. For instance, a construction company needs to handle issues related to their contractual workers while a restaurant will have policies for wages and tips. Remember; you have to hire a specialist who has previously worked with businesses like yours and even knows the ins and outs of your industry.

2.Who Will Do The Work?
Inquire if the company outsources work to some third party or has its own team of experts to work for you. Since relying on such third parties can be a costly decision, it is always wise to choose a firm which has its own team of financial advisors, tax consultants and auditors. Further, you must ensure if the agency has any certified filing centre of its own.

3.Are You Available Throughout The Year?
Look for a reliable income tax consultant in Kolkata who is available throughout the year. Unlike some firms which keep their doors open only during the tax season, these reputed agencies boast of a diligent team of professionals who can cater to the issues of their clients anytime. From the appropriate arrangement of files to suitable documentation, these accounting firms specialise in offering a range of tax preparation services which are both effective and authorised.

4.How Do You Manage While Working With Multiple Entities?
For business owners who run more than one agency under their name, looking for professionals who have the capability to manage several entities at a time is of paramount importance. You need to remember that these are skills which not every specialist posses. Hiring a firm which can co-ordinate between your entities is important.

5.How Often Do You Communicate With Your Clients?
When it comes to the frequency of communication for planning tax issues, every professional is different. Inquire about the approach of the expert and ensure that you are satisfied with his degree of communication. Remember; you must feel comfortable while discussing your issues with him.

So what are you still waiting for? Quickly find a reputed consultancy agency in your area and start availing exemplary income tax related issues!

Double Taxation Agreement With Maldives

double taxation treaties

SM Gupta & Co, a tax consulting firm helps you in saving your taxes and provides you new scheme if any.

An agreement provides for relief from double taxation for airline enterprises of India & Maldives by way of exemption of income derived by the enterprise of India from the operation of aircraft in international traffic from Maldivian tax and vice versa.

Tax Benefit/Incentive on Various Digital Payment of Government Taxes:

Govt. of India’s Cabinet of ministers has decided to give incentives on payment through debit card, credit card and online banking. It has approved digital payment being keen to move from a cash dominated payment ecosystem to cash less one, to eradicate the black money menace from the country. The cabinet approved several short term measures to be implemented within a year and medium term measures to be implemented within two years by the govt.

It has also taken steps ,

  1. For withdrawal of surcharge or service charge or convenience fee on card & digital payment.
  2. Rationalization of telecom service charges for digital transaction.
  3. Promotion of mobile banking.
  4. Creation of necessary assurance mechanism for quick resolution of fraudulent transactions.
  5. Promotion of digital payment will reduce tax evasion and tax avoidance.

No taxes on digital payment

The cabinet has approved no tax on ATAL innovation scheme and ATAL pension scheme. Self employment and talent utilization schemes for focusing on innovation & entrepreneurship.

Tax Services Kolkata Specialists of Hazardless Taxation and Audit

Tax consultants are also referred as tax advisers. They are trained in tax law services. They are experts and specialists to make common people and business professionals understand about the tax regulations. They always try to advice their clients to follow the government regulated tax rules and norms accurately and timely.

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TAX – Something we cannot avoid!

Though the idea of giving tax is always not soothing, but still it’s only because of the system where people have to give tax in a certain rate, the whole country survives. In other way, the country’s economy is indirectly related to taxation.

tax services‘Tax’ is a word which everyone is familiar with. It’s known to all that a certain amount of money is deducted from our salary as income tax. It is normally the main source of fund using which the Government serves the public, the whole country. It is a compulsory financial charge or any other kind of levy in form of monetary contribution which is imposed by the Government on various financial activities, investment and expenditure of individuals and various business organizations.

The mandatory amount you are bound to pay

Tax services fall into a system by which Governments demand an amount on people’s financial income. To regulate the system properly there are also variegated rules. Every business entity and individual have to give a proof in the form of income tax return each year to ensure that they don’t owe any taxes to the Govt.

Tax too has a small history behind it

  • Tax was first introduced in America when people were fighting the war of 1812.
  • Its main purpose was to fulfill the huge debt that was caused due to the massive war.

After that the system of giving tax became permanent in the early 20th century.

auditorAudit and taxation are related to each other by their unbiased nature. An auditor is mainly appointed to take care of the fact that the concerned business organization is maintaining all the financial records of the company honestly. They are mainly of two types, independent auditors those who are not under the jurisdiction of the audited company and public officials those who are generally elected. It’s not that auditors are only found in the public sector. Private companies are also seen to hire them. The internal and external auditors out there generally work on contract basis. They are employed to document and evaluate the whole function without being biased and to examine any business entity’s financial activity thoroughly.

Enjoy The Benefits of Tax Return on Time Through Tax Services Kolkata

Tax returns are very crucial and cannot be ignored under any circumstances. So, it is better to pay it on time.

In India, the Central Government controls the power to levy tax on any person who is employed and has an income, except the persons who are employed to the agricultural field. The amount or the percentage for this tax payment however varies depending on the amount of income.

income tax returnLike every other country of India, the rules for income tax returns Kolkata are same and mandatory. People, however, consider it unimportant to file the tax returns and as a consequence, end up paying a huge penalty or get wrapped up in some legal difficulties. There are quite some benefits of filing the tax returns in time. They are:

  • File your tax return as soon as possible:

Although the last date for filing the tax return for the previous banking year is July 31, it is always preferable that the taxes are filed before time. It provides the opportunity of not being messed up when the final moment arrives.

  • It is not mandatory to pay the penalty:

Even if the tax payer has failed to file the tax return within the last date that is July 31, he or she is not supposed to pay the penalty. However, for that, the tax payer needs to make sure that he or she does not have any pending liabilities for his or her tax returns. It is most likely that the tax returns are filed as soon as possible even in case the last date goes by.

  • Create a good record:tax services

When the tax payers maintains a good track record of paying the taxes on time, every year, the income tax department keeps the history of the tax payer in their records and it help the tax payers in their later life in case of loans and insurances and also when they apply for VISA.

However, for a detailed assistance in all the tax payment related services, it is very important that they hire tax services Kolkata who have the knowledge and the experience to assist them.

Income Tax Advisors And Auditors: The Saviours For Business Firms

Running a corporation or business firm is not a mere cake walk. There are various necessities to be fulfilled. Income tax is an unavoidable part of it. So, get the best professional to help you out with such issues.

Income tax returnsIncome tax is the tax levied on an individual or an association’s income. The procedure of taxation is however, different in both the cases. The motive of each business might differ. But irrespective of their status, they need to abide by the rules of income tax as stated by the government. One who neglects it has to face the consequences. If you are facing any problem regarding income tax issues, there are professional advisors who can help you sort out the problem with complete legal proceedings. They not only help you to clear up the taxes, but also ensure a proper return.

Get the desired tax returns:

If you are worried about your income tax returns, Income tax returns Kolkata can help and assist you to get the desired return. They will not only help you in preparation of the entire tax related paperwork and filing, but also ensure a good return from the payment. There are many people who get stuck up with this. They do not get their return even after years. These companies help people to get their rightful return.

Tax advisors for tax related advices:

The paying of taxes is not an easy job. If you are the owner of a business corporation, your job is even tougher.ID-10049947 Nowadays, the laws and rules are becoming sterner day by day. So, you must not take risks regarding income tax issues. An income tax advisor is a savior in this case. If you are searching for such an advisor Kolkata, Income tax advisor can provide you the right one to solve your problems related to income tax. Even if you are willing to save some money on taxes, they can help you to the maximum possible level. Hence, choose an advisor and free yourself from all the tensions regarding payment of income taxes.

Choose the best auditor for assistance:

Auditing is an indispensable part of running a company or a business. An auditor helps the company to keep a record or manage the finances. Finances are the most important factor for a corporation or a business firm. If you are in search of a qualified auditor in Kolkata, you can find the right one from a consultancy firm. Once you get the right auditor for your company, he or she can help you with all issues regarding finances. Hence, it is important to choose the right one.

Online Tax Consultants- How To Find The Best One?

Are you looking for an online tax consultant? Here’s an overview of the most essential aspects to consider when you are looking for tax consultants.

Hire A Professional Tax Consultant

tax consultantWhen it comes to the job profile of a professional tax consultant, it mainly involves tax preparations. Be it the corporate world or business firms, there is a huge demand of online tax consultants all over the world. This is one of the most popular services among all the businesses all throughout the world.

Remember, if you fail to get the tax work done on time, you may also be charged of a penalty which will definitely involve a good amount of money. Therefore, it’s advisable to look for professional tax penalty consultants who can help you save thousands of dollars by preparing the tax files on time.

Do You Need A Tax Consultant In The Audit Process?

A professional auditor Kolkata is also in demand during the audit procedure. It’s the tax consultant who represents the company or business client during the audit process. This means that it’s the tax consultant who is responsible to answer any of the questions or may act on the behalf of the client.

If the tax officials ask any questions or perhaps they ask for someauditor kind of application, it’s the consultants who will answer all the questions and deal with the case on your behalf. Therefore, you don’t need worry when you have hired an experienced online tax consultant Kolkata

How Can You Find The Best Tax Consultant?

To find the best online tax consultant, you should first speak with people who have prior experience in dealing with such activities . If they are happy with the services offered by the existing tax consultant, you should get the contact details from them. Get an appointment from them and to discuss about your case. Keeping all these tips in mind, you can now choose the best tax consultant.