Taxes, taxes and more taxes
Life as a child is so cool. You do not have any (many) worries. But the irony of the situation is that when you are young and cool… all you want to be is old!
However, when you are old… you come to know what shit you are in. You have to think about your livelihood, your present and of course your future. And in addition to that, government makes sure that there is something called taxes hovering on and around your head all the time.
Now… I am an individual who is into three sorts of services. I have an income, which makes me file my income tax returns. Than I am working as a technical consultant to three separate identities which makes me charge (and pay) service taxes. And then being a part of the company I have to consider more taxes which might (or might not) involve Sales Tax (or VAT). This one should have been easier considering my dad was actually one of the deciding factors on how VAT would be implemented in Haryana. However, it definitely is not my cup of tea…
In addition to that, we have something called Educational Cess and perhaps LADT (Local Area Development Tax). I am not sure what all of these I am involved in. The problem with all this is that there are no central hubs which government provide us the common man to discuss our issues. We have to contact people like Chartered Accountants to tell us what all we have to pay and charge our customers.
Why cannot we have some decent help? Someone gotta answer this question… Or am I being cynical like usual again?
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You need to go to Chartered Accountant only. The thing is they will help you save tax too... with the help of Tax planning.
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Tax planning invloves taking advantage of the exemptions, deductions, etc in an intelligent way, further to exploit loopholes, so that tax is reduced to the minimum.
There are books available for Tax Planning. It is taught to every commerce graduate.
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i got a pan number and i paid my dues last year. plan to do the same this year. just cannot remember the details about some of the trasactions that took place in the last 12 months... :(
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