With only 24 hours at hand in a day, it is not possible for a person to remember all his obligations towards his professional life as well as personal life. In your professional life, you have to manage your work, your finances, your office, your bills as well as your taxes. You try to manage all your work systematically. You plan and schedule your time to do all your financial and tax related work. But many times, due to holidays, social activities, health or other reasons, your work gets interrupted and you cannot work as per your planned schedule.
The thing that gets most affected by such interruptions is your tax related work. Be it tax planning, assessing your tax, or filing your returns, it is very important that you manage it all in sufficient time and with accuracy. Some of the ways in which you can simplify your tax and tax processes are as follows:
Plan Your Work
Even though for some people assessing the tax and filing of return may be a day’s work, yet it is important that you plan your tax related work beforehand. Do not wait for the last date of filing the return. Ensure that you work on your tax issues before the year-end. Ensure that you have all your documents. Make your calculations in advance. Planning of your work will simplify your tax assessment.
Note the Due Dates on a Calendar
On a calendar, mark all the due dates related to your tax processes. Suppose you are an individual, then you can mark dates for filing of return, or date for an appeal, or date for furnishing documents etc. If you are a firm or a company, you must mark the dates of your quarterly payment of taxes, dates for audit, dates of return filing etc. When you have your dates in writing, you will not forget that work and thus it will simplify your tax work.
The thing that gets most affected by such interruptions is your tax related work. Be it tax planning, assessing your tax, or filing your returns, it is very important that you manage it all in sufficient time and with accuracy. Some of the ways in which you can simplify your tax and tax processes are as follows:
Plan Your Work
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| Tax India |
Note the Due Dates on a Calendar
On a calendar, mark all the due dates related to your tax processes. Suppose you are an individual, then you can mark dates for filing of return, or date for an appeal, or date for furnishing documents etc. If you are a firm or a company, you must mark the dates of your quarterly payment of taxes, dates for audit, dates of return filing etc. When you have your dates in writing, you will not forget that work and thus it will simplify your tax work.
