Tax and compliance
Get professional help with compliance with tax laws.
Get ready for GST
OmniMonk provides an array of services in bookkeeping, accounting, and taxation to individuals, small businesses, entrepreneurs, accounting firms and Chartered Accountants.
Our experienced accounting professionals can provide valuable support to your existing accounting department or act as a remote accounting assistance team depending on the extent of support you need.
Taxes in India
The Indian tax system is well structured, wherein the power to levy taxes are clearly demarcated by the constitution between the Central Government, the State Governments and local bodies. The taxes in India can broadly be classified into Direct tax and Indirect tax. Some of the major taxes levied by the Central Government are as classified below:
- Direct tax:
- Income tax
- Wealth tax
- Indirect tax:
- Customs duties