Tax Saving

Difference Between Direct and Indirect Tax

Difference Between Direct and Indirect Tax

The two main ways that governments raise money to pay for public goods and services are through direct and indirect taxes. Although they both aim to fund the government, they are very different in terms of how they are used, how often they occur, and how they affect the economy. Direct taxes are imposed directly …

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Tax Planning in Light of Budget 2024

Actionable Insights for Tax Planning in Light of Budget 2024

In order to plan a proper financial strategy, people and businesses need to understand new policies in this constantly changing financial circumstances. With the help of this practical guide, you will be able to take advantage of opportunities, make wise judgements, and maintain tax efficiency even in the face of changing tax laws. Consider that …

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Taxpayers Want from Budget 2024

What Do Taxpayers Want from Budget 2024?

On February 1, 2024, Nirmala Sitharaman, the finance minister, will release the Interim Budget 2024. Every sector of the economy has expectations from the Budget, as usual. TAXATION REFORMS: In Budget 2024, taxpayers expect significant tax improvements in the form of easy procedures and lower personal income tax rates, which they hope would provide relief. …

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Saving Tax in 2024

Top 10 Tips for Saving Tax in 2024

In 2024, financial planning will require you to optimize your tax strategy. The top ten tax-saving suggestions are as follows: Invest in Tax Saving Schemes: Investing in tax-saving plans such as National Pension System (NPS), Public Provident Fund (PPF), and Equity-Linked Savings Schemes (ELSS) might yield twofold advantages. Not only do these investments offer potential …

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Tax Benefits for Entrepreneurs

Tax Tips for Entrepreneurs

Businesses can maximise their financial strategy by paying attention to a few important tax tips. Finally, consult a tax expert. Considering the intricacies of tax legislation, investing in the services of a trained accountant or tax advisor can be prudent. They can guarantee tax law compliance, optimise deductions, and offer tailored assistance. To sum up, …

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How do I File an ITR File?

How do I File an ITR File? A Comprehensive Guide!

We already know filing an ITR for income tax return is a prerequisite for individuals eligible under the income tax slab. However, there can be other more benefits than recording your income & expense in the government portal that the taxpayers get. Filing an ITR gives impeccable tax deductions for some individuals, which ultimately make …

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What is the Difference between AIS and Form 26AS?

What is the Difference between AIS & Form 26AS?

When you’re paying tax in India, you may come across two interrelated terms “AIS” & “Form 26AS” respectively. In this regard, AIS serves the taxpayers a wholesome view of tax deductions, but Form 26AS gives the view of partial or high-value TCS transactions. Here, we’ll explore the significant differences between AIS & Form 26AS. What …

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Equity Tax Collection

What Are Your Equity Tax Collection in the New Tax Policy?

When you sell an equity fund, you have to pay equity tax to the government. This process often involves some criteria, upon which tax is levied upon an individual. According to the new tax regime, your tax depends on your holding period and annual income put together. So, to understand your tax deductions you have …

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