Income tax

Should you Choose to be Employee or Independent Consultant from Taxation Perspective?

Employee Vs Consultant - The Tax Angle

Few people while taking up a new job have the flexibility to work as an employee or independent consultant (also known as contractor or freelancer). If planned properly consultants have lower tax outgo for the same CTC (Cost to company). With Budget 2016 introducing presumptive taxation for some professionals like legal, medical accountancy, architect, IT …

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Tax Notices You can get and What to do about it?

Income Tax Notice and What to do about it

Once the ITR is submitted and verified by the tax payer, the department goes through every return in automated/manual fashion to check if everything was correct and matches with the data available with them. In case they find a wrong/doubtful entry or have further questions about any declared or undeclared income or deduction or exemption, …

Tax Notices You can get and What to do about it? Read More »