They are usually an involuntary fee which is levied corporations or individuals which are enforced via the government entity, whether regional, local or national in order to the finance government activities. In the economy taxes does falls on whomsoever pays the burden of the tax, it could be either entity which is being taxed, or the end consumers of the business goods. They are levied by the states upon their corporations and citizens to fund services of public and works.  Payment of the taxes are compulsory and tax evasions, if the taxes are not paid on time, they are punishable by the law. The payment of taxes could also be done online with easy steps. Some of the common kind of taxes are- GST, Property Tax, Income Tax, tariff, excise duty, Stamp duty etc.

However, the taxes do vary according to the nations. Besides conventional taxes, there are other taxes which have been introduced recently as- Swatch Bharat Cess Tax, Infrastructural cess tax and Kalyan Cess Tax etc. Read here tax planning related articles & news and plan your tax savings investment.

Best Tax Software for Small Business in 2021

Running a small business means wearing too many hats as there are many things that you need to take care of and there is no way you can show aversion to any one aspect of […]

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Does Investing in Mutual Funds Help in Tax Saving?

Tax saving is an important part of an individual’s financial planning. If you wisely plan your taxes, you can end up saving a good amount of money from your hard-earned annual income. In this article, […]

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Things You Should Know to Negotiate a Favorable IRS Tax Settlement

IRS Tax Settlement There are times when you owe big time with taxes so in that case what are the possible consequences to be done. You must be under pressure as you think that there […]

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What are the Tax Benefits of Buying a Home?

Home Loan Tax Benefits Making a purchase of anything comes with some attached taxes. If you are buying a home, this applies too. Yet, you can gain some tax benefits that allow you to save […]

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Eight Crazy Tax Scandals that Cost Billions

Global Tax Evasion Over the past few years, more and more tax evasion scandals have surfaced in the news. That’s no coincidence, as a whopping $600 billion is lost to tax avoidance every single year. And […]

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How to Check Your Income Tax Refund Status in 2021?

Income Tax Refund Status The income tax return for the F.Y 2019-20 has already been filed for many, however for some taxpayers the process of return filling has not finished yet. This article contains detailed […]

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5 Penalties for a Tax Preparer’s Negligence

Tax Penalties As a resident of the United States of America, you have to file for the taxes as per the law. You may choose to do your taxes yourself, or you may hire an […]

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Improve Productivity With Custom Tax Software Development Solutions

Custom Tax Software Today, there are plenty of popular tax software programs for sale online or in stores. While these programs perform a specific set of functions, they are generalized to serve a wide range […]

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Best 13 Tax Saving Tips for Entrepreneurs

Tax Saving Tips Sadly, the COVID-19 pandemic has adversely impacted the health of so many individuals around the world.  Due to the Coronavirus, millions of people have become unemployed.  No matter whether a person was […]

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5 Tax Penalties Small Businesses Should Be Aware Of

Business Tax Penalty While tax season isn’t typically described as “fun” by most people, it is a requirement of doing business. Unfortunately, staying on top of the ins and outs of ever-evolving tax laws, corporate […]

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How to Avoid Huge Tax Hill When You are Self-employed

Tax Tips for Self Employed We all know that how much tax payments are important for any country to run its economy. A government cannot run its economy without any money in its treasury. All […]

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Know About Due Dates for ITR and GST Filing

ITR & GST Filing Are you aware that the due dates for Income Tax and GST filing vary for different categories of taxpayers? Let’s first talk about Income tax filing. For individuals, HUF (Hindu Undivided Families) and […]

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Recent Changes in GST- Update on GST Amendment Acts

Income Tax Department will share data with GSTN The income tax department will now share the data with GSTN. This will enable GSTN to look for the taxpayers who file separate figures in income tax […]

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How GST Works in Financial Market and How to Calculate it

How is GST Applied ? The Goods and Service Tax (GST) refers to an indirect tax introduced by the Government of India under the Goods and Service Tax Act passed in the Parliament on 29th […]

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Things to Keep in Mind While Filing ITR for FY-2019-20

Filing Income Tax Return Online With the closure of the financial year 2018-19, it is time to file your income tax return. Filing ITR is mandated by law and acts as legal proof of your […]

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