Tax planning is considered one of the effective ways that will help you save on taxes while increasing your income. The income Tax act offers the taxpayers to deduct a variety of investments, savings and expenditures made within a single fiscal year. In order...
Filing taxes can be daunting for salaried employees. With multiple deductions, exemptions, and investment options, it's easy to get confused. Proper tax planning can help salaried individuals maximize tax savings and take advantage of all available benefits. This...
Welcome to the future, as FY 2023–24 enters its fourth quarter. Digital transformation and AI-enabled data-driven cultures are about to become the new norms. It is beginning to integrate accounting and tax services into an enterprise-level ecosystem. It will create...
Direct taxes are simple to understand since they are incurred on individuals' earnings or profits. The government imposes an indirect tax on goods and services for businesses and professional service providers. In 2017, the Goods and Services Tax (GST) effectively...
According to MPVD & Associates, a leading CA firm in Kolkata that provides comprehensive ITR filing services to new entrepreneurs across India, new entrepreneurs focus the majority of their attention on finding vendors, sales, and marketing but fail to recognize...
The modus operandi for finance legislation in India, brings new accounting procedures, benefits, and opportunities for both enterprises and individuals. Do you know it all? Sometimes you have a lot to catch up on. MPVD & Associates jots down some core attributes...
One aspect common among all small businesses is their desire to slash their income tax bills by claiming deductions. However, most of them are unaware of the tax deductions relevant to their industry. Those who have a fair bit of knowledge in accounting and taxation...
Evading taxes – can this be even legal? Yes, it can be only under certain options, and it’s not the highly predictable 80C of the Income Tax Act if that is what you are thinking. If you can spare some time and familiarize yourself with ways to save taxes on income,...
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