5 Things about Taxes you might be getting wrong
Taxes are an essential part of every working individual’s life. Many professionals are likely to pay taxes on time, especially when they have their finances sorted, as per Income Tax Act, 1961. While most people can file ITR on their own, some of you might still be unclear on planning your taxes, which is why you must be afraid that you might end up making mistakes. Before you begin your tax planning on the wrong foot, let’s look at these top five mistakes about taxes that you can avoid easily: Starting Tax Planning Quite Late A sound financial plan is incomplete without tax planning. So, it will be best if you start planning your taxes as you plan your short-term and long-term financial objectives. By this, we mean that you should begin filing your tax as early as possible instead of waiting until the very end of the financial year. Starting early on tax will allow to you plan your finances ahead in the year. In addition to this, you will have enough time to list down all the deductio