Direct Tax / Income Tax

Direct tax or income-tax are those taxes that are levied directly on the individual or organizations on their incomes. In India, income-tax is governed by the provisions of the Indian Income-tax Act, 1961 (‘Act’). The Act works on the principle of self-assessment whereby every person in receipt of income or any amount is required to assess and compute its total income under five categories of income via salaries, income from house property, income from business or profession, capital gain, and income from other sources and discharge its tax liability before the filing of return of income. In addition to this, there are certain compliances that are required to be made by the payer of the income like TDS/WHT related compliances.

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How Simplify Helps on Direct Tax Compliance!

Simplify has a proficient team keeping up with ever-changing taxation policies, rules, and regulations. We aim at providing timely fast-paced services to our clients with effectiveness in their taxation practices to reduce the interest, penalty, and prosecution to the most insignificant levels. Over the years the Government has been expanding the tax base by ensuring strict and proper compliances and therefore it is imperative all the compliances under the Act should be timely made.  We assist our clients in the following ways:

  • Filing of return of income self-assessing the income tax in the relevant ITR form via ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6, and ITR-7.
  • Payment of advance tax and TDS/WHT, and also filing of TDS/WHT returns in Form 24Q/26Q, etc.
  • Filing of form SFT detailing the financial transactions undertaken during the year.
  • Filing of the Tax audit report in Form 3CD and transfer pricing audit report in Form 3CEB before filing the return of income.
  • Computation of quarterly advance tax and payment of the same before the due date to minimize the incident of interest.
  • Computation of monthly TDS/WHT under relevant sections in order to compute the correct amount of TDS/WHT and payment of the same before the due date.
  • Review of the quarterly TDS/WHT returns and filing of the same within the prescribed time.
  • Preparation of computation of income under various heads of income and compute the amount of tax to be payable by the person.
  • Identification of various deductions available to minimize the incidence of tax.
  • Review of computation of income to check the admissibility or non-admissibility of various deductions.
  • Filing of the tax audit report in Form 3CD and transfer pricing audit report in Form 3CEB within the prescribed time.
  • Any other compliances under the Act depend upon the nature of the person or class of persons.
  • Application for obtaining lower rate tax or NIL deduction certificate on behalf of the persons.

Simplify Your Income Tax Return Filing.

Navigate Old and New Tax Laws with ease for a hassel free experience call or email us.

Assisted ITR Filing

Starting from 999/-

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Get an Expert to do your Taxes.

(Salary Income, Switched Jobs, Multiple form 16)

(Onsite deputation, foreign assets, NRI, rental payment to an NRI, NRO account etc)

(Mutual funds and stocks, business/profession, house property, other income such as interest etc.)

Simplify will assist in case you:

  • Don’t have Form 16?
  • Switched jobs?
  • Self Employed?
  • Have business income?
  • Invested in Stocks & Mutual Funds?
  • Have pension income?
  • Have interest income?

Get in touch with us by calling at +91 84520 04999 or emailing us at info@simplifytaxes.in.

Benefits of e-filing income tax returns (ITR)​

  • Avoid late fee penalties
  • Avoid tax notices
  • Build financial documentation
  • Carry forward your losses
  • Claim tax refunds
  • Quick Visa processing

E-filing of income tax returns is mandatory if your income is above the basic exemption limit. ITR filing becomes a must even if your income is below the basic exemption limit if the below-mentioned conditions are met:

  • If you have deposited more than Rs1 crore in all of your current accounts
  • If you have incurred expenditure on foreign travel of Rs 2 lakh or more
  • If you have incurred electricity expenditure of Rs 1 lakh or more
  • If you have beneficial interests or signing authority in foreign countries
  • If your total business turnover is above Rs 60 lakh
  • If your gross professional receipts are above Rs 10 lakh
  • If your total deposits in the savings bank account are Rs 50 lakh or more
  • If the total of TDS and TCS is Rs 25,000 or more(Rs 50,000 or more in case of senior citizens)

It is always advisable to file ITR even if the person is not mandatorily required to file the ITR according to the Income Tax Act. This is because the ITR return serves as a proof of income statement for various purposes like loan approval, VISA applications, credit card applications, claim income tax refunds and set off and carry forward of losses, etc.

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    PAN Card

    Aadhaar Card

    Form 16/Bank statements

    Indirect Tax

    Goods & Service Tax​

    Navigating the complex world of Goods & Service Tax can be a challenging task for businesses of all sizes. With the implementation of GST, the tax landscape has changed significantly, and compliance with the new regulations has become a crucial aspect of conducting business. Non-compliance can result in penalties, fines, and other legal consequences, making it essential for businesses to seek expert guidance.

    Streamlining Your Business with Expert Goods and Services Tax Consulting

    Goods and Services Tax (GST) is a value-added tax system implemented in many countries, including India, Canada, and Australia. GST has significantly changed the taxation landscape for businesses, making compliance a crucial aspect of doing business. With the complexities involved in GST compliance, businesses need expert GST consulting to ensure compliance and maximize tax savings.

    An experienced GST consultant can help businesses understand the GST regime, including its provisions, tax rates, and compliance requirements. The consultant can guide businesses on registering for GST, filing GST returns, and claiming GST credits, among other things. Additionally, the consultant can assist businesses in identifying and addressing any potential compliance issues and mitigating the risk of penalties and fines.

    Moreover, GST consulting can also help businesses optimize their tax position. A knowledgeable GST consultant can advise businesses on structuring their transactions to minimize GST liability, identify opportunities to claim GST credits, and manage cash flow more efficiently. Ultimately, the goal of GST consulting is to help businesses streamline their operations, reduce compliance costs, and stay competitive in their respective industries.

    In conclusion, expert GST consulting is essential for businesses to navigate the complex GST regime successfully. With the help of a GST consultant, businesses can achieve compliance, optimize their tax position, and focus on their core activities.

    List Of GST Service We Provide

    • GST registration assistance
    • GST compliance support
    • GST advisory services
    • GST audit services
    • GST litigation support
    • Invoicing, documentation, and record-keeping guidance
    • Assistance with claiming GST credits
    • Reviewing and reconciling GST returns
    • Providing updates on changes in GST laws and regulations
    • Identifying potential tax savings opportunities

    We provide these services to help businesses comply with GST regulations and maximize their tax benefits. Our team of experienced GST professionals stays up-to-date with changes in GST laws and regulations, ensuring that our clients remain compliant and achieve financial success. Contact us to learn more about how we can help your business thrive in the complex world of GST.

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