SURVEY,SEARCH & SEIZERCONSULTANCY

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A tax advisor is an individual who is a financial expert holding specialized tax accounting, tax law knowledge, and know-how. In complicated financial cases, the services of a tax advisor are typically retained to reduce the tax payable while staying compliant with the law. Tax consultants may include tax attorneys, Certified Public Accounts (CPAs), licensed agents, and some financial consultants. A tax advisor is also called a tax consultant.

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A tax advisor can work either for an agency or can be self-employed. In both ways of employment, they are given the task to find out effective ways of legally bringing down the tax liabilities for clients, estimating taxes on different investment portfolios, determining the right relevant deductions and credits, etc. They can also write tax returns for their customers and file them. A taxpayer who has faced a major life event—such as the death of a spouse, marriage, divorce, child birth or adoption, the purchase of a new home, job loss, inheritance, and more—would be prudent in seeking a tax advisor's services.

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A tax paying entity, such as a person, company, business, trust, etc., with a complex financial circumstance (example: complex investments and deductions) that seek a tax advisor's expertise to help minimize the amount of taxes payable to the taxing authorities.

The advice and services rendered by a tax advisor can vary depending on the situation of the taxpayer. An individual who is planning for retirement will receive a different advice as compared to an entrepreneur who is looking to set up a shop. Even a real estate investor is likely to have a different tax requirement from a commodities trader.

Deals between a tax advisor and a company seeking to combine with or acquire another business may differ from its professional relationship with an executor of the estate seeking to minimize taxes on the land.

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Frequently Asked Questions

What is TDS return filing?

No, the proprietorship firm and the proprietor are one and the same legally. The PAN of the proprietor will be the PAN of the firm. Therefore, there will be no separate legal identity for the business. The assets and liabilities of the business and the proprietor will also be one and the same.

What are the types of tds return forms?

A business operated under a proprietor cannot be transferred to another person unlike a limited liability partnership or a private limited company. Only the assets in the proprietorship can be transferred to another person through sale. Intangible assets like government approvals, registrations, etc., cannot be transferred to another person.

How do I upload TDS return filing statement?

Proprietorship firms are business entities that are owned, managed and controlled by one person. So they cannot issue shares or have investors.

Can I file TDS return myself?

Yes, there are procedures for converting your proprietorship business into a company or an LLP at a later date. However, the procedures for the same are cumbersome, expensive and time-consuming. Therefore, it is wise for entrepreneurs to consider and start an LLP or a company in case they are expecting it to be operational at a bigger scale or they want to raise investment.