What is TDS return and its advantages?

Most of the people do not know about the TDS returns. Actually, the TDS return is a quarterly statement which has to be submitted to the income tax department. You should file TDS return in a sequential manner and it is very beneficial for you. So, in this blog, I am going to share the advantages of  filing the TDS return.

TDS stands for tax deducted at source, which means collecting income tax in India under the act of income tax 1961. It is managed by the central Board of Direct Taxes (CBDT) and is part of the branch of sales managed by Indian revenue services (IRS). It has an excellent importance at the same time as undertaking tax audits. The objective of the TDS is to enable the salaried people to pay the tax every month and avoid the burden of lump sum payment. So, this is all about TDS returns. Now, given below are the benefits of TDS return.

Let’s elaborate some benefits of TDS return.

Easy, fast and intuitive

Filling TDS is easy, fast and reliable. It is very beneficial for you. It works as a tax deduction which takes place throughout the year. It also ensures a continuous flow of revenue to the government.

Prevents tax evasion

TheTDS return measure to prevent tax evasions. It also prevents a situation when a person or organization avoids paying his true tax liability. The evading tax is generally subject to criminal charges.

Increases the tax reach

TDS return helps in increasing the tax reach as it is deducted at the time of payment. It also prevents fraud, situations at the time of payment. The TDS can be filed through internet banking and mobile banking etc.

So, these are the benefits of TDS return. If you also want to file your TDS and want to  get more info about TDS, then you can also approach Tax Home. Tax Home is the leading service provider of One person company registration, LLP registration, FSSAI registration in Delhi and TDS return Preet Vihar. So, approach Tax home and get the best tax and business related solutions. 

What are the hidden advantages of One Person Company?

One person company is a new type of business entity that allows a single entrepreneur to operate a corporate entity with liability protection. To let you know more about the one person company, I am going to share the hidden advantages of One Person Company.

The concept of one Person Company in India was introduced through the companies act, 2013. The concept was launched to support entrepreneurs. It is a separate legal entity from its promoter, offering limited liability protection to its sole shareholder. Now, let’s review the hidden advantages of OPC.

Let’s elaborate the hidden advantages of One Person Company.

1.    Easy to manage

One person company is easy to manage, there is no requirement to hold annual or extraordinary general meetings. Only the resolution shall be communicated by the member of the company and entered in the minute book.

2.    Tax flexibility and savings

It is possible for a company to make a valid contract with its shareholder and directors. This  means as a director, you can receive remuneration, as a lessor you can receive rent, as a creditor you can lend cash to your personal business enterprise and earn interest. Directors’ remuneration, rent and interest are deductible fees which reduces the profitability of the enterprise and in the end brings down taxable earnings of your enterprise.

3.    Easy to get loans from banks

Banking and financial establishments opt to lend money to the company as opposed to proprietary companies. In maximum of the conditions Banks insist the marketers to transform their company right into a personal restrained enterprise earlier than sanctioning price range. So it's far better to register your startup as a One person non-public constrained in preference to proprietary company.

So, these are the hidden advantages of the one person company. If you also want to register with one person company, then you can approach Tax Home, is the market leader of company registration. You can choose One person Company registration in Delhi and MSME registration in Delhi with the help of Tax Home. Approach the professionals and get the best solution for the business related issues. 

Tax Home - Who should register for GST?

In today's blog, you will read about the topic 'who should register for GST?' The leading service provider of GST in Preet Vihar is here to help you to register for GST and solve your GST registration issues. Go through this blog and make yourself clear about the biggest tax problem GST.

GST is an indirect tax and it is levied on goods and services, which helps to replace the multiple cascading taxes that is levied by the central and state government. It is a comprehensive, multistage and destination based tax which is levied on every value addition. The GST mechanism is an advancement of the VAT system. It helps to improve the collection of taxes and boosts development of the Indian economy by removing the tax barriers. This blog will clear your confusion about GST.

Now, I have a few points that tell you about the GST registration and suggest 'should you register for GST or not'.

·         Small supplier

You are a sole proprietor and your total expense and tax supplies are less than Rs. 30, 000. If you are a partnership or corporation, public service body and If you are a small supplier then you don't need to register for GST.

·         Voluntary Registration

If you are the small supplier that means you are engaged in a commercial activity. You can opt for voluntary registration and you have to charge and remit GST on your taxable supplies of goods and services.

·         Effective date for registration

This date depends on when you exceed the amount of small supplier in one calendar quarter. If you exceed this threshold amount in a calendar quarter, then you are considered a small supplier. The effective date for registration gives you 29 days from the day to apply for registration.

So, by reading these points, you will surely understand about the GST registration. Don't confuse and make yourself clear about the GST registration. One of the best service providers of GST, FSSAI and SSI registration in Delhi is Tax Home. Say hello to Tax Home, which will surely help you to register with GST easily and helps to solve your business issues. 

Why every business requires a Tax consultant?

A tax consultant is a person who takes care of all taxes and tax issues in your business. The tax consultants or the tax advisors are expert in tax laws, tax planning and tax compliance and cater their services to both businesses and individuals. If you also want to hire a professional tax consultant, then you should know about the tax consultants. Read this blog to get the information about the tax consultants.

The tax consultants are generally from finance or accounting background. They work in public accounting firms, law offices, financial consultancies and insurance. The tax consultants can have their own individual setup. A tax consultant helps you to solve an array of problems for your business and also for your clients. Now, I have some benefits of a tax consultant for the business.  

Why you should have a professional tax consultant.

1.    Save time in Tax returns

This is the biggest benefit of hiring a professional tax consultant for the business.  They help to save time in tax filing and tax return and they have the ability to reduce the taxes and help you to file taxes in a less time.

2.    Planning

The tax consultants work with the advance tax planning and they try to do their best for the business. They resolve the tax issues and try to avoid them and do better for the business.

3.    Accountability

For a tax consultant, accounting is more important in terms of maintaining both client confidence and business accuracy. Tax consultants should be expert in the field of accounting and have a better understanding of financial accounts.

So, these are the benefits of having a professional tax consultant for your business. One of the best and professional tax consultant in Preet Vihar is Tax Home that is the leading service provider of LLP registration, FSSAI registration and ROC filing in Delhi. Please feel free to approach Tax Home and get help to grow your business. They will provide you the best solution for your business related issues and tax issues.