TAXATION REGISTRATION

A citizen who is above 18 years of age and is earning, or a business or corporate entity legitimately has to pay tax to the government. Taxes vary based on the types of services if it is for a business, or if it for individuals it depends on the age, gender and earnings. Planning your taxation effectively helps in better financial planning too.
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IMPORTANCE OF TAXATION IN INDIA

  • Generating revenue to the Government to meet the public expenditure
  • Taxation increases the disposable income creating demand for goods and services which lead to more investment and this will finally increase the employment
  • Taxation ensures price stability by controlling the inflation of the economy
  • Controls the economy fluctuations like depression and boom by reducing and increasing taxes respectively
  • Taxation like custom duty imposed will curb the incoming of goods and give a boost to the domestic production of import substitutes
  • Reduction in the inequality of income and wealth by imposing higher tax rates to rich.

KINDS OF TAXES

There are two types of taxes levied called the Direct and Indirect taxes. Direct taxes are ones which are directly paid and cannot be transferred to anyone else. Some of the Direct Taxes are:

  • Income Tax is a tax levied on the total income of a person and business entities.
  • Capital Gains Tax paid when you receive a good chunk of money either from investments or sale of property
  • Corporate Tax is paid by the company on the revenue earned by them.
  • Indirect Tax is the taxes levied on goods and services and it is a tax that is collected from the person selling the product or services. This includes:
  • Sales Tax is the tax paid on the sale of a product or service which can be either manufactured in India or imported.
  • Goods and Service Tax or GST is a destination based tax which is paid by the end consumers and the seller has to deposit the GST with their respective State Government.
  • Value Added Tax or VAT is levied at every stage right from manufacturing, to distribution and finally end users.
  • Custom Duty is paid on the goods imported via land, sea or air.
  • Excise duty is paid only on goods manufactured exclusively in India. Apart from these taxes we also have other taxes like the Professional Tax, Education Cess, Gift Tax, Entertainment Tax and more. Aavana Corporate Solutions offers professionally curated tax services which includes consultation and tax preparation services. Our proficient team of professionals has comprehensive knowledge in tax preparation and reporting, handling tax compliance workload and meeting taxation return filing deadlines.

OUR SERVICES INCLUDE:

  • Filing of Income Tax Return
  • Tax Preparation Services
  • Corporate IT Return Filing
  • Individual IT Return Filing
  • TDS Return Filing



WHY AAVANA

TRUSTWORTHINESS

What we say we do it! At Aavana we assure that all your documents are safeguarded and we build a rapport with our clients by delivering the best.

COMPETITIVE PRICING

You can select the best from our range of packages with the best pricing and uncompromising on the quality of the work delivered

PROFESSIONAL TEAM

Talk to our team who understand what you need and get professional guidance on any service pertaining to financial and business consultation

COMPLETE SUPPORT

It’s not that we serve you only with your requirement, but offer support in whatever is required to run your business effectively throughout the year.

ON TIME DELIVERY

Time is precious is what we believe! Our ultimate goal is to see that our clients get quality services on time.

SERVICES UNDER A SINGLE ROOF

business registrations,tax registrations, accounting services and payroll services we offer all under one roof which saves time and better execution of work.

Advantages

Stay Disciplined

Many businesses let their compliance requirements pile up, even though taking care of it involves much less effort than is often imagined. Staying disciplined from the initial days will be hugely helpful when looking for investment or a bank loan, as both would want to ensure that your business is in compliance with the MCA’s requirements.

Compliance Advice

Having a company secretary on call throughout the year is essential in ensuring that your business is run in accordance with the laws in force. Our team would keep you up-to-date with all the changes made by the MCA throughout the year.



FAQ's

Income tax payers are taxed on 5 heads under Section 14 of the Income Tax Act, 1961:
Gross total income being the sum total of your income from salary, income from capital gains, profits or gains from profession or business, income from house property and income from other sources. Your total income is basically your gross total income minus deductions under Section 80C to Section 80U.
Individuals below 60 years who earn an income more than Rs.2.5 lakh need to pay tax. Indian residents who are above 60 years of age but under 80 will be taxed if they earn more than Rs.3 lakh per annum, while those who are above 80 years of age will have to pay tax if they earn in excess of Rs.5 lakh per year.
To calculate your tax liability, you will have to add your income from salary, capital gains, profits or gains from profession or business, house property and other sources. Then, make your deductions under Section 80C to Section 80U, which gives your total income. From your total income, allow for rebate under Section 87A and subtract it to arrive at your tax liability after rebate, add surcharge, which will give you your tax liability and then the applicable cess. You will then know your tax liability.
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