TAX FILING
We create value. The techniques we use to improve Value including Taxation management, we integrate into software so that it can be reliably delivered and built on
​
Services
​· Income Tax Returns, Tax Reports & schedules
· GST & VAT Registration & Return filing
· ESIC and EPF Return Filing
· Revenue Authorities monthly & Quarterly lodgements
· PAYG, GST & VAT calculations
· Pension & Superannuation lodgement
WHY TAX FILING IS SO IMPORTANT ..?
Tax filing is the process by which individuals, businesses, and other entities report their financial income, deductions, and other relevant financial information to the government, typically on an annual basis. This information is used by tax authorities to calculate the amount of taxes owed or, in some cases, to determine if a refund is due.
WHAT WE DO
-
Gathering Financial Information: Taxpayers must gather all relevant financial documents, including income statements, receipts for deductible expenses, investment statements, and other financial records. This step is crucial, as accurate and complete information is essential for filing an accurate tax return.
-
Completing the Tax Return: Individuals and businesses use specific tax forms or software to complete their tax returns.
-
Calculating Income and Deductions: We calculate their total income, including wages, business income, investment income, and other sources. They also deduct eligible expenses and apply tax credits to reduce their taxable income.
-
Filling Out Schedules and Attachments: Depending on the complexity of the financial situation, taxpayers may need to fill out additional schedules and attachments to report specific types of income or deductions.
-
Claiming Deductions and Credits: We claim deductions and tax credits to reduce their tax liability. Deductions are expenses that reduce taxable income, while tax credits directly reduce the amount of tax owed.
-
Calculating Tax Liability: Once all income, deductions, and credits are accounted for, we calculate their final tax liability. They may owe taxes or be eligible for a tax refund if they've overpaid throughout the year
-
Filing the Return: We file returns electronically through tax preparation software, by mailing a paper return, or, in some cases, in person at a tax office. Filing deadlines vary by country,
-
Payment or Refund: If taxpayers owe taxes, they must make the payment by the filing deadline. If they are eligible for a refund, they will receive it after their return is processed by the tax authority.
-
Record Keeping: It's essential to keep copies of filed tax returns and supporting documents for a specified period (typically several years) in case of audits or future reference.
OUR EXPERTISE
