Income Tax consultancy in Dehradun, is based upon the portion of money and income which government takes for development, funding public works and services, etc. https://madsmoney.com/gst-and-income-tax-consultancy/
There are two types of taxes –
• Direct tax is the one whose burden is borne by same person, who pays it. Example : income tax
• Indirect tax is the one which is paid by one person and burden is borne by another. Example- GST.
Taxpayers, Tax slabs & Income Tax consultancy in Dehradun
Every tax payer is taxed according to the category he is falling under i.e. an individual, HUF, association of persons, firms, companies.
Corporate tax for companies with annual turnover up to 250cr is 25%, above 250cr is 30% and for foreign companies it is 40%.
Income tax slabs for Individuals & HUF’s
Income tax Slabs
• Upto 2.5 lakhs is nil
• From 2,50,001 to 5,00,000 is 5%
• 5,00,001 to 7,50,000 is 10%
• 7,50,000 to 10,00,000 is 15%
• 10,00,001 to 12,50,000 is 20%
• 12,50,001 to 15,00,000 is 25%
• Above 15,00,000 is 30%
GST council have come up with 5 different tax rates
Note – GST on diamond job is 1.5%, on semiprecious stone is 0.25% & on gold is 3%
Documents required to file taxes
Following documents are needed to file income tax return :
Form – 16 (16A/16B/16C)
Interest certificates from bank & post office
Tax saving investments proofs
Home loan statement from bank/nbfc
Deductions under 80D – 80U
Income Tax consultancy in Dehradun
Tax guide in Dehradun, India will help you in many ways to make your tax burden as minimum as possible. A tax guide will serve you in being updated regarding all latest tax laws and all the amendments.
Through guidance and planning regarding the taxes and putting in the expertise of a tax guide, you could minimize your tax liability.
A tax consultant in Dehradun is a must to have thing just with a click and for further details, you can visit https://madsmoney.com/