Tax saving is a complicated subject for most people, as they do not clearly understand that there are more layers to tax-saving than only the exemptions available on your investments. With the right knowledge, not only you will pay the correct tax on your investments, but also know how to tax proof the income and actually create an asset out of your tax saving.
Download Mutual Fund Investment App:
Android: https://play.google.com/store/apps/details?id=com.iw.imperialmoney
IOS: https://apps.apple.com/in/app/imperial-money-mutual-funds/id1512971398
First of all, consider your capital as a liquid asset that does a better job with continuous investments, rather than being stagnant in the bank. Tax saving is a thoroughly discussed subject in the Indian constitution as well, where the tax savings investments are protected under Section 80C. There are various other schemes and allowances mentioned, like:
- HRA,
- Home Loans,
- LTA,
- Section 80D,
- Reimbursements,
- National Pension Scheme (NPS)
- Interest on education loan (Section 80E)
- Rajiv Gandhi Equity Savings Scheme (Section 80CG)
- House rent allowance (Section 80GG)
- Medical treatment under Sec 80DDB.
- SukanyaSamariddhi account
- Children’s tuition fees
saving plan - Looking to get an insurance savings plan that offers a wide policy term range?
Go for the PRUActive Saver II which provides a lump sum payout on maturity.
You can also find more interesting details on the site below:Facebook:- https://www.facebook.com/PrudentialSingaporeLinkedin:- https://www.linkedin.com/company/prudential-assurance-company-singapore/Youtube:- https://www.youtube.com/channel/UCWs_Qg2Rahok4kORir5w4eQInstagram:- https://www.instagram.com/prudentialsingapore/?hl=en
Here we will tell you about are various things you need to know about Income Tax Calculator.
You find any difficulty, then using this is a good idea.
Return for the period of September is the last Return for making all the amendments & adjustments for the previous year.
Suppose, for example for the year 2020-21, GSTR 3B and GSTR 1 is the last return for filling all the amendments of the transactions related to the period April 2020 to March 2021.The following actions have to be taken before filing GST Return for the month of September :Reconcile Sales Turnover reported in GSTR 1 with that of BooksReconcile Sales Turnover reported in GSTR 3B with that of BooksCheck whether all the credit notes issues has been declared in GSTR 1 or not and the effect of the same is taken in GSTR 3B.Reconcile if invoices raised to customers are reported in B2B (customers with GSTIN) or in B2C (Unregistered customer)Reconcile whether all the advances have been reported in GSTR 3B and GSTR 1Reconcile whether the GST paid on advances have been adjusted once the invoice is issued or notReconciliation of ITC from GSTR 2A/2B with Inward RegisterFollow up with the vendors whose ITC is not appearing in GSTR 2B / GSTR 2ACheck whether all the debit notes issued to you have been reflected in GSTR 2A/2B or not.Reverse all the ineligible ITCReconcile HSN Summary with that of Sales Turnover.No additional claim of missing ITC may be made available post-filing of September GSTR 3B return.
Please thoroughly follow the above checklist before you file any September GST returns.The information provided in the Taxzona Blog does not constitute any legal, tax or financial advice.
It does not take into account your particular circumstances, objectives, legal and financial situation or needs.
Before acting on any information in the Taxzona Blog you should consider the appropriateness of the information for your situation in consultation with a professional advisor of your choosing.
How can NRIs avoid Double Taxation?Sometimes NRIs can get caught in double taxation.
For example, if an NRI receives any income in India, the country has the right to tax the income as the source state.
But the residential country of the NRI can also tax the income as the residence state.
In this case, the person may have to pay taxes twice on the same income.
To avoid this, India has DTAAs signed with various countries that clearly exempt the foreign taxes paid while filing the return of income of the NRIs in their home country.Visit for more information: https://www.imperialfin.com/services/nri-services/
Effective accounting and financial advice are necessary for the success of an innovative and forward-looking organization.
To achieve the greatest benefits of this part of the business, you will need to have an experienced accounting services provider team by your side.
Get the best service now with the best accounting services in Yamuna Nagar.How do accounting services providers work?They provide accounting services, taking into account both short-term and long-term objectives, and balance as well.
Expert accounting services work hard to allow their clients to be informed about new developments and opportunities to help them expand their business and provide tax savings.Tax planning is a year-round process.
With enough time available, the best accounting services in Yamuna Nagar can offer creative solutions to provide greater flexibility and options for eliminating, reducing, or deferral of your tax obligations.With a clear understanding of your activities and business objectives, their professionals work for effective tax savings in accordance with the requirements of the Accounting Act, which are usually significant?They understand how each component of your tax plan is reflective of the overall result.Why choose accounting services providers?Accounting is present throughout your organization.
In today's changing and complex economy, the top accounting services in Yamuna Nagar provide you with the accounting advice that will help your organization successfully adapt to these times.Well-designed and implemented accounting processes translate into lower costs and administrative efforts for your organization; they generate accounting solutions tailored to your needs.They are a team of professionals experienced accounting consulting services experts in a wide variety of topics.
