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4 Situations Where You Need to Hire A Professional Tax Consultant

Looking for an online tax consultant in Kolkata? Filing the taxes is an important task that you have to perform annually. If you are not a specialist in this field, the work can be monotonous and boring for you. There are different legal provisions and guidelines that may be hard for you to understand.

Get Professional Help for online tax consultant Kolkata:

To submit your income tax files on time, it is advisable to communicate with a Professional Tax Consultant. They have a wide knowledge of this topic and use advanced tools for a correct audit. Plus, you get to know about the various legal ways to reduce your tax liabilities.

When Should You Take Help of A Tax Consultant?

There are different situations where an online tax consultant in Kolkata can help you. You can get more information about these situations below:

  • Starting A Business:

    A new business establishment should take care of correct tax filing in the initial years. As the owner, it is vital to keep track of all expenditures in a tax year. If you try to do the taxes yourself, you might commit some mistakes. To avoid them, you should consult a professional tax consultant. Remember that correct tax filing in the initial years impacts the tax filing procedure in future.

  • Mistakes in Previous Returns:

    Incorrect tax filing is detrimental both for an individual and a business. If you find inaccuracies in your tax return files for the last few years, take the help of a professional. They use advanced software that ensures a precise and error-free procedure. They can help you make up for the damages caused earlier.

  • Inheritance of Wealth:

    This is a vital situation where a professional tax consultant can help you. If you have inherited a lot of wealth from a deceased family member, you have to pay a certain amount of taxes. If you don’t know whether you are overpaying or underpaying the taxes, the expert can help you. Inherited wealth like cash, property and shares are liable for taxation according to Indian Law.

  • Change in Marital Status:

    Your regular tax filing procedure will be impacted by the change in your marital status. A tax consultant can help you inform the best way to file the taxes as a couple. A divorced couple may also get tax filing tips from a professional consultant.

If you want to file your annual taxes correctly, communicate with SM Gupta & Co Chartered Accountants. We have a qualified team of online tax consultants in Kolkata. They can help you to simplify your tax paying experience.

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Can Hiring A GST Consultant be Beneficial for Your Business?

The Goods and Service Tax, simply known as the GST, is a Pan India tax. All kinds of manufactured products and services fall under this tax scheme. It is mandatory for different businesses to submit annual GST reports and returns.

Provisions of GST in Kolkata:

The GST has different provisions and exceptions. Many business owners may find it difficult. It has four different tax slabs, and the total tax gets divided between the State and the Central Government. The count of total tax amount depends on the revenue amount and the size of the business.

Third-Party Consultants:

It is not possible for the corporate to look over the different rules of this tax. This is why many businesses opt for outsourcing GST Consultants in Kolkata. They are a professional who has in-depth knowledge of this taxation system.

Why Hire A GST Consultant?

The GST Consultants are Government appointed individuals. Their primary work includes filing tax returns on behalf of a business. Advocates, Sales Tax Practitioners and Chartered Accountants are suitable for this role.

  • A business can get various advantages by outsourcing a GST Consultant. They are specialists who ensure a timely and hassle-free tax return.
  • A GST Consultant is a professional who has studied the complex structure of the tax. They can provide ample information against the queries regarding tax.
  • They are a professional who can handle all tax-related problems with ease. They can manage the objections of various Financial Departments against the tax return or audit.
  • The most important task of a GST Consultant is to file the tax on time. They can provide quality assistance to submit the reports in time. The company avoids the payment of any tax penalties.
  • Understanding the tax is essential before filing the return. The consultant researches the various aspect of tax to remain prepared for any issues in the future.

The best way to file GST on time is to consult a professional. They can keep the company free from the worry of late filing. They can save a lot of money. Before outsourcing a consultant, it is important to check the reputation of the company.

One can hire professional GST Consultants in Kolkata from SM Gupta & Co. They are an experienced source where one can get help in different financial activities. Their team consists of qualified tax auditors, financial advisors, and GST Consultants. Their professionals comply with the tax and ensure timely submission.



What are the Top Qualities Which Make a Good Chartered Accountant?

For any business to run successfully, seamless management is necessary. Accounting and bookkeeping are vital parts of it. This is where the experienced CA in Kolkata handle all financial tasks. They check the company budget and keep track of all transactions. With their accuracy and skill, you can be assured of complete organizational efficiency. 


Characteristics of a Good Chartered Accountant  


Strong sense of ethics  

Ethics and integrity are the prime traits that are most valued. Every CA should have these qualities in order to progress in their career. They should know how to differentiate between right and wrong. Their show of integrity towards the job makes them reliable for bookkeeping and accounting tasks.  



CA are professionals who should be accurate in their job. From managing the digits to counting numbers, they should be proper and organized. Even a mistake with a comma can lead to huge differences in the reports. It can end up causing financial risk for the company. They should focus well on the details and emphasize on accurate results. Lastly, they should always double-check before delivering the outcome.  




The Chartered Accountants have to deal with a lot of paperwork. They handle numbers and data regularly. Hence, they should know how to access all information in the right manner. They should be efficient, well organized and neat. Since the matters of the entire organization will sit on their shoulders, they should be responsible as well. 


Constant Learning 

The CA professionals should upgrade their skills and knowledge constantly. They must display their interest in doing the same. While having their basic strong, CA should learn new topics and know about market changes. With the introduction of new tax laws principles, they should stay on their toes with all information. CA should have a good understanding of the news. They should also be aware of technological advancements and stay conscious of the emerging trends. 



Good CA experts are highly reliable. The organization will trust them with all their financial matters like budget and expenses. Hence, they should be able to stand up to their expectations. While dealing with many confidential topics, the accountant should have integrity and know work ethics. This way, they can work as per the terms and conditions of the organization.   


Now since you know the top qualities of an experienced chartered accountant, you can hire the best ones in the market. Ensure that they are knowledgeable and can efficiently handle all your business financial matters.


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Income Tax Exemptions for Salaried Employees

 Income tax advisor Kolkata SM Gupta. The Income Tax Act allows tax exemptions for salaried employees. It is quite effective in saving the taxes. The salaried employee must inform his employer about claiming the tax exemptions which are available as an option. Next, the employer will compute the tax on the balance income according to the income tax slab and deduct the TDS on the salary.         

All these tasks can be burdensome, so most employees prefer hiring an income tax advisor in Kolkata for assistance.  

The TDS deducted from the salary is reflected in Form 16 that the employer must give to all his employees. The deduction happens during the financial year. The employees can also download Form 26AS for the same requirement.   

Income Tax Exemptions for Salaried People  

1. HRA Exemption  

Most companies offer their employees’ house rent or HRA. This allows them to reside comfortably in a good place. A portion of this rent is exempted from the levy of the Income Tax. The tax is only applied on the remaining part.  

The HRA exemption is a valid tax exemption for salaried employees. You can claim it easily, and the exemption amount is large.  

2. Leave Travel Allowance  

Most employers give their employees special allowances to go on leaves and vacations. This amount of money is exempted from the taxes to a certain extent. However, certain terms and conditions are applicable. The tax exemption happens only if the employee goes on a vacation in India. This is because the company would ask for bills from the trip. 

3. Encashment of Leaves    

 Most employers give their employees a certain number of days to claim as leaves. However, if you do not claim these leaves, it is an option for en-cashing, i.e. the employers will pay additional money to you for leaves that are still pending. 

This amount is called leave encashment. It is allowed to be claimed under the tax exemptions up to a certain extent.   

4. Pension Income  

Upon employee retirement, most companies pay pensions to their employees. You might have to purchase an annuity to get the pension that the organisation pays. It is basically of two types – commuted and uncommuted. In the former, the amount of pension that you get is in a lump sum. In the latter, the company will pay you the money in instalments after you purchase the annuity.   

Irrespective of whatever type it is, both fall under the tax exemption category to a certain limit. 

For more detail, consult SM Gupta for professional tax advice and consultancy service. 

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3 Common Mistakes to Avoid While Filing Income Tax Returns

Every working individual must file an ITR under the tax laws. However, the process is tedious and complex. Any ordinary person is bound to commit mistakes while filing the ITR forms. But with a strict deadline, these unintentional mistakes can cause further delays. A professional income tax consultant in Kolkata can assist you in these situations. They handle all the paperwork, ensuring you do not attract any penalty.  


What is an ITR? 


The tax authorities assess the money you have paid as advance tax and how much you owe as a balance. You can self analyse your earned income and communicate it to the department. It is done via the process of filing an ITR. 


Avoid These Mistakes While Avoiding Income Tax Returns


1. Incorrect personal information 

This is a commonly recurring error that people commit all the time. If you enter incorrect personal information in the form, it will lead to delays. Hence it would help if you were careful while mentioning your name, mail id, address, date of birth and PAN. The details must tally with the documentation. If you want to claim a refund, ensure that your bank particulars are accurate.  


2. Particulars like tax deducted and paid

Since the taxpayers cannot attach any document as proof with the form, they mention the TDS credits. This is the basic information about you that the tax department has. For a smooth tax filing process, check the following – 

  • Mention the correct Tan number of the deductor as per the form 26AS.  
  • Check the challan details like BSR payment code of advance tax and self-assessment tax. 

Even if you make a minor mistake, you will not get the tax credits or a demand notice to rectify the matter. Then, you have to undergo the hassle of filing up a rectification request under section 154. 


3. Using the wrong form 

Those taxpayers who wait for the eleventh hour make the silly mistake of choosing the wrong form. This is deemed defective under the tax laws. Hence you should have a sound knowledge of the applicable forms. 

The tax consultants can simplify the process for you. You should seek their help to manage your ITR files and processing.   


Meet the Expert Tax Consultants 


S.M.Gupta & Co. is a renowned chartered accountant firm in Kolkata.  We offer consultancy services for taxation, advisory, law matters etc. With over 45 years of experience, our team of professionals ensure credibility and consistency for every project.  You can rely on us for tax computation and filing, tax audits, certifications, tax appellate proceedings etc.

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Common Mistakes to Avoid While Filing for Income Tax Returns


Filing for income tax is a mandatory routine. It should comply with the regulatory rules and principles. If you do it incorrectly, you can come under the scrutiny of the IRS or face penalties. Tax management is tedious, so it is advisable to consult professionals for income tax returns in Kolkata.

ITR or income tax return forms allow the tax authorities to assess how much money you paid as advance tax and how much money is still pending. You can self-assess the income you earn and be committed to not making mistakes. Filing tax returns is mandatory under tax laws. Ensure that you do not fail to do so, or you can land in trouble.

Mistakes Made by People Filing for Income Tax Returns

  1. Incorrect personal details

Every year, the tax authorities reject several tax entries because of incorrect personal details. The tax filings rejections happen for incorrect details, name and bank account number, address, IFSC code, etc. It also causes a delay in the funds. Hence, you should be sure to fill in all the correct details. You can take help from the tax consultants in Kolkata who are experts in this line of service. They have knowledge and training in filling the tax forms with fewer errors. This way, they strive to provide their clients a hassle-free tax filing experience.

  1. Mistakes in claim deduction

Most of us think that the authorities must include the employer’s contribution to EPF. This is while claiming the benefits of sec 80C. But it is incorrect. Only the principal, which is repaid on the housing loan, is eligible for sec 80C. Other deductions are claimed under the wrong heads. This causes their rejection and faults like tax liabilities.

  1. Not filing the return.

Have you decided not to file a tax return at all? If you fail to do so within the stipulated time, you increase your chances of attracting a reminder from the income tax department. Any individual who earns more than the exemption limit should file for an income tax return. The requirement is as follows –

  • Individuals who earn more than Rs 2.5 lakh in a financial year
  • Senior citizens who earn more than ₹ 3 lakh in a given year
  • Super senior citizens who earn more than ₹ 5 lakh every year

Some other conditions are there which make tax filing necessary.  Hence it is better to consult the services for income tax returns in Kolkata.

  1. Using the wrong form

Try to avoid the mistake of submitting the wrong form while filing for tax returns. You wait until the eleventh hour to complete this task. However, you use an incorrect form. The tax consultants in Kolkata strive to help every client perform this duty smoothly. With their knowledge and experience, they complete the process in due time. This leaves scope for no further problems.


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