What is Angel Tax?
Angel tax is the tax imposed on startups that secure funding at a valuation exceeding their market value. The surplus amount paid is considered income and subject to a specified tax rate. Previously this law posed challenges and underwent scrutiny affecting both startups and angel investors regarding their growth potential.
Income Tax Deduction List- Section 80C, 80CCC, 80CCD, and more.
Income Tax Deduction List- Section 80C, 80CCC, 80CCD, and more. When it comes to taxes, Section 80 of the Income Tax Act is a legal provision. It gives taxpayers a bunch of ways to deduct and exempt their income. Taxpayers must understand this section so they can plan their finances better and legally reduce how […]
A Simplified Guide to Section 24 of the Income Tax Act
A Simplified Guide to Section 24 of the Income Tax Act The Income Tax Act (ITA) serves as a set of rules that governs taxation systems within a country. It encompasses provisions and regulations that aid in calculating the income of individuals and entities. Within this framework, Section 24 of the Income Tax Act holds […]
Overview of Income Tax Laws in India
Overview of Income Tax Laws in India Income tax is an important cog in any country’s financial wheel but has a particularly pivotal role in India’s economic growth trajectory. The income tax provides essential revenue streams that help fund various governmental initiatives. It’s important for individuals and entities operating within India to have sanguine knowledge […]
Outsourcing Tax Services for Small Businesses: When, How, and Why to Consider it as a Small Business Owner.
Outsourcing Tax Services for Small Businesses: When, How, and Why to Consider it as a Small Business Owner. Outsourcing has become a popular choice for small businesses in recent times. With the ever-changing laws of taxation, handling tax work becomes hazy for small businesses. Keeping in-house staff becomes costlier and burdens the owner. Therefore, outsourcing […]
Common Tax Deductions for Small Businesses in 2023: What You Need to Know
Common Tax Deductions for Small Businesses in 2023: What You Need to Know If you are a small business owner, your business gains are subject to government taxes. Businesses must have an understanding of tax and tax deductions in their field. There are some common tax deductions for small businesses that can reduce the tax […]
Maximizing Tax Savings for Small Businesses: How TFSA Can Help
Maximizing Tax Savings for Small Businesses: How TFSA Can Help? A Tax-Free Savings Account (TFSA) is an investment account that allows Canadians to save money tax-free. These were introduced in Canada in 2009 as a way for individuals to save for their future without being taxed on the growth of their investments. However, TFSAs are […]
Outsourcing Tax Services: Is it Worth it for Small Businesses?
Outsourcing Tax Services: Is it Worth it for Small Businesses? As a small business owner, you’re a jack of all trades – juggling multiple tasks. You are running your operations and staying up to date with recent trends in your industry. There comes one more important and complex activity where you must be bogged down, […]
Tax Planning and Preparation Services
Many people believe that tax preparation and planning services are interchangeable terms. These services are quite dissimilar. Even after paying your taxes, they work together to help you maximize your personal and business income, investments, and bottom line.
Tax preparation is the process of creating tax returns for a person or a company. A corporation may be subject to taxes such as income tax, excise duty, and customs duty.
Tax preparation is typically a one-time task.
Tips for a Better Tax Filing & Planning Strategy
Taxes are complicated. There are many different types of taxes you may need to pay, and each type requires its own strategy. If you’re not sure what your tax situation is, or if you’ve never filed before, here are few tips for a better tax filing and planning strategy.
Before tax filing, you should check your taxes from last year to make certain that….