Who are we?

TAXMITR is a CSR Activity of VGNC to exclusively serve the individuals in their Tax Planning and Tax Compliance.

VGNC is a noted brand in business and tax consulting managed by professional experts in the respective fields. TAXMITR is designed to cater all the concern of the Individual Tax Payers and to assist in filing ITR and dealing with Income Tax Department as their authorized representative and handling all the income tax cases efficiently and effectively.

About VGNC

VGNC is a Business Advisor with a focussed approach in specialised area of audit, tax & advisory services with a dynamic and vibrant team of professionals serving the corporate business since 2004. Our Approach is to make a thorough diagnosis of the respective business areas with all the complexities involved and provide effective & actionable business solutions tailored to client’s needs. The idea is to work as an Enabler to relieve the management so that it may concentrate on core activities of business growth while we undertake the other operational concerns as much as possible.

We see our role as a sincere Partner who is close enough to share management concerns and far enough to perform thoroughly professional. And hence we dare to call ourselves ‘VGNC-A Partner You Grow With

Know about Taxmitr

What We Offer , How to Execute  and Why Choose Us

Our Service

  • Filing of Income Tax Return
  • Processing of Refund
  • Handling of Income Tax Notices
  • Online Consulting on Tax Matters
  • Financial and Tax Planning
  • Personal Accounting
  • Scrutiny Assessments

(more…)

Service Pattern

Taxmitr will be a CSR activity promoted by VGNC for  awareness of Tax and to help government promote the tax compliances and promote tax literacy.The services of taxmitr will be free of cost for all the salaried individuals.

Taxmitr Benefits

For all the others who are having Income from sources other than Salary and interest income, like business income or dealing in shares etc, will be provided an entry coupon by Taxmitr to consult VGNC . Thereafter VGNC will provide the service and will charge as per the services offered to the Individual at concessional fee

Frequently Asked Questions

What is Income Tax Calculation

What is Income Tax Slab ?

Your Income Tax Slab determines the income tax rate at which you will be taxed in India. The income tax department has issued various slab rates for different categories of persons to maintain consistency and uniformity.

Your Income Tax Slab depends on the various factors-
• Your Status – An Individual, a HUF, a company, a firm, an AOP/BOI, local authority
• Your quantum of Income & its Nature
• Your Age

Q1. I am salaried employee, which income tax slab is applicable on me?
Ans: For a salaried employee the income tax slab for individuals will be applicable. Choose the correct slab rate according to your age. Please note there is no difference in the tax slab based on gender.
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Q2.Which income tax slab rates would be applicable if I am filing my Income Tax Return for F.Y. 2016-17?
Ans: For calculating your income tax rate for F.Y. 2016-17, you need to check the Income Tax Slab for F.Y. 2016-17 or A.Y. 2017-18.
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Q3.How to calculate my Income Tax amount from the Income Tax Slab?
Ans: Let us take example of Ms. Ruchi, age 29 years with an income of Rs.10,50,000, income tax deduction under section 80C Rs.150,000 to understand how to calculate the income tax amount for F.Y 17-18.
First we will check the applicable income tax slab, in her case the first slab for individuals less than 60 years would be applicable.

Example:

Her income to be considered for calculating the Income tax amount =Total Income – Income Tax Deductions
10,50,000 – 1,50,000 = 9,00,000
Now,
Income (Rs.)                   Income Tax Rates      Tax Calculation Income   Tax Payable(Rs.)
Upto 2,50,000                      Nil                                            0                                           0
2,50,000-5,00,000           5%                                 5% of 2,50,000                  12,500
5,00,000- 10,00,000       20%                            20% of 4,00,000 (9,00,000-5,00,000) 80,000
TOTAL 92,500
Calculation of total amount of tax payable
Income Tax Amount Rs, 92,500
Add :EC@2% on Income Tax Rs. 1,850
Add: SHEC@1% on Income Tax Rs. 925
Total Income Tax Payable Rs. 95,275

What is ITR? Tax Return Filing Consultants in India

What is ITR? Tax Return Filing Consultants in India

WHAT IS INCOME TAX?

http://taxmitr.net/ efiling Income Tax Returns, Income Tax refers to the tax levied by the government for financing its various operations. It is counted on an annual basis, of the income earned in the previous year, also called the Assessment Year.

In simple language previous year (Assessment year) is the financial year in which the income is earned with profit. The earnings earned in the course of this previous year is charged to tax in the assessment year. The charge of Income Tax in India is executed according to the provisions made under the Income Tax Act. Income Tax additionally works as an economic stabilizer that aids in distributing wealth among people equally.

According to India tax laws earnings from the following resources is deemed taxable:

  1. Salaries
  2. Earnings from property
  3. Profits of enterprise or professions
  4. Capital gains
  5. Income from other sources