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What should a tax consultant know?

A tax consultant, whether an individual tax advisor or a tax consulting firm, should possess a broad range of knowledge and skills to provide effective tax-related services to individuals and businesses. Here are the key areas of knowledge and expertise that a tax consultant should possess:

  1. Tax Laws and Regulations: A tax consultant must have a deep understanding of federal, state, and local tax laws and regulations, including changes and updates. This includes knowledge of income tax, corporate tax, sales tax, property tax, and more.

  2. Tax Planning and Strategy: They should be skilled in tax planning to help clients optimize their tax liabilities legally. This includes identifying deductions, credits, exemptions, and incentives that can reduce tax burdens.

  3. Recordkeeping and Documentation: Proper recordkeeping is essential for tax compliance. Tax consultants should be knowledgeable about recordkeeping requirements and help clients maintain accurate financial records.

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Stay informed about the latest developments in the auditing and financial industry.

We offer expert guidance on tax planning, compliance, and strategies to optimize your tax liabilities.

What are 5 heads of income?

n India, income is categorized into five heads for the purpose of income tax assessment. These five heads of income are used to classify different types of income and determine the applicable tax treatment. Here are the five heads of income under the Indian Income Tax Act:

  1. Income from Salary (or Salary and Wages): This head includes income received by an individual in the form of salary or wages from an employer. It encompasses not only basic salary but also allowances, bonuses, commissions, pension, and gratuity. Income from salary is subject to tax deductions under Section 16 of the Income Tax Act.

  2. Income from House Property: This head pertains to income earned from owning and renting out residential or commercial properties. Rental income, whether from a let-out property or deemed to be let-out, is included under this head. Various deductions and exemptions are available under this head, including deductions for interest paid on home loans.

Mid Size Chartered Accountant Firm in Mumbai

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audit firm in andheri

audit firm in andheri

What is the difference between accounting and audit ?

Accounting and audit are closely related but distinct disciplines within the realm of finance. Accounting revolves around the systematic recording, summarization, and reporting of financial transactions to provide financial information for internal decision-making and external stakeholders. Accountants maintain financial records and regularly prepare statements like income statements and balance sheets. In contrast, audit is an independent examination of financial records and statements to verify their accuracy and reliability, offering assurance to external stakeholders that the financial information is presented fairly and conforms to accounting standards and regulations.

Our Services

  • Tax Planning and Strategy: Our experienced tax consultants will create a customized tax plan to minimize your tax liabilities and ensure compliance with the latest tax laws.

  • Tax Preparation and Filing: We offer professional tax preparation and filing services for individuals, businesses, and organizations, ensuring accurate and timely submissions.

  • Tax Compliance and Audit Support: Stay compliant with tax regulations with our expert assistance. We provide support in case of tax audits and investigations, offering peace of mind.

  • Tax Optimization for Businesses: We specialize in helping businesses optimize their tax structures, deductions, and credits, leading to enhanced profitability.

  • International Taxation: Navigate the complexities of international taxation with our specialized services, including transfer pricing and foreign income reporting.

  • Estate and Inheritance Tax Planning: Ensure a smooth transition of assets and minimize estate and inheritance taxes with our expert guidance.

  • Tax Appeals and Litigation: Our team can represent you in tax appeals and litigation cases, protecting your interests and rights.

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Gst Consultant in Thane

CA Firm and Consultant In Mumbra

Why do most students quit CA?

Generally, the Big 4 firms are known to offer competitive compensation packages due to their reputation, size, and global presence. However, the specific ranking of which firm pays the most can change over time and may vary by region or country.

To get the most accurate and up-to-date information on the compensation of the Big 4 firms, I recommend checking directly with the firms’ official websites, consulting industry salary surveys, or reaching out to professionals who currently work at these firms for the latest insights. Keep in mind that compensation figures can change frequently due to various factors, so it’s important to rely on the most recent and reliable sources of information

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Why Choose Bashamakh?

  • Seasoned Tax Experts: Our team of experienced tax consultants possesses a deep understanding of tax laws and regulations.

  • Client-Centric Approach: We prioritize your tax and financial goals, offering tailored solutions to meet your unique requirements.

  • Accuracy and Compliance: We uphold the highest standards of accuracy and compliance in all our tax services.

  • Personalized Strategies: Our goal is to provide personalized tax strategies that align with your financial situation and objectives.

  • Ethical and Transparent: Integrity and transparency are our guiding principles, ensuring ethical and honest tax advice.

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Mumbai GST Consultants

What is the age limit for CA?

  1. Foundation Course: The Foundation course, which is the entry-level stage of the CA program, can be pursued by individuals who have passed the 10th standard examination conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto. There is no upper age limit for the Foundation course.

  2. Intermediate Course: After successfully completing the Foundation course, students can enroll in the Intermediate course. There is no specific age limit for the Intermediate course either.

  3. Final Course: The Final course of CA is the last stage of the program. There is no upper age limit for enrolling in the Final course.

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Mid Size CA Firm in Mumbai

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What is the qualification of a chartered accountant?

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Contact (+91) 8779526602 for advice


Head office

(+91) 8779526602

heena.bashmakh@gmail.com

E/302,Old Nasheman Colony,near Pizza House,Above Sana Medical, Kausa,Mumbra, 400612

Branch office

(+91) 8779526602

heena.bashmakh@gmail.com

1. AEROCITY, unit No 1017, first floor, NIBR Compound, Mohili Village, Sakinaka Safed pool, Mumbai 400072

305-Bashmakh & Co, Silver Enclave, Near Dosti Shill, Thane 400612

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