A Tax consultant is a specialist who reduces our burden and knows the strategies to make our tax less and reasonable. They are the trained individuals, experienced in the tax field, who know the strategies, formalities and procedures behind filing and tax returns. As an individual or entrepreneurs, we know how to earn income, but we do not have ideas or exposure to reducing tax. They work for our tax filing and returns throughout the year to reduce our liability. We are the best tax consultant in Chennai, known as PHOENIX TAX . Certified ISO: 9001-2015 consultant provides you with impeccable service.
According to a trade magazine, recently an article is published about the major misconceptions on Tax consultants. The following misconceptions are fake but occupied people’s minds. Let us see the veridical nature of the tax consultants:
1. All are the same:
This common mindset should be rectified from the people’s mindset because all the tax counsellors, accountants are not the same. Even though, they do have the same profession. The roles and responsibility of a tax consultant varies with many features- cost, experience, efficiency, and flow without flaw, recognition, reputation, trust, and work in this tax-related field. Just take a deep look at these factors and realize that all are not the same.
2. Computer does everything:
Automation did not spare this area, too. In this modern world, everything happens with a click of electronic gadgets. Back then, the tax planners use manual documents, paper to work, prepare the tax filing procedures. Even the tax planners would rather use the automation method than conventional work. This does not mean the computer is working, the total input here is given by the tax consultant to get the work done.
3. Everyone can do tax preparations:
Filing a tax is not a great deal and can be done by anyone this is an untrue statement revolving around the environment. In addition to that, tax planners do not require any training and practice to enter this field and even a common man can work on this. The best Tax Consultant in Chennai is here to clear the air, a tax consultant should have frequent training and up-to-date knowledge about the tax and regulations that are tweaked in a periodical manner. A tax planner should put his maximum effort to keep himself updated and provide service to the people.
4. All tax filings are the same:
In India tax return is a liability for every citizen if s/He is eligible. In India, there are various forms of taxes for each and everything. In India, we have- GST, CGST, GST-R, Service Tax, auditions, annual tax returns. These things do not have the same, common procedure, each and everyone has a different procedure that can be done only by a tax professional.
5. Tax Consultants are Over-rated:
People do believe that tax preparers are highly paid and they do also get paid by the government too. This myth should be squashed from people, the onus is on our shoulders to educate you about the hard work done by the tax preparers. One of the major misconceptions is that tax consultant’s work for the government under the IRS which is fake. If it is like that, then the total IRS division would be filled with tax consultants.
The leading tax consultant in Chennai, explains the ideas, opinions discussed in the article along with their thoughts. Peruse the other useful articles related to tax and auditing to get a clear picture of tax-related topics.
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