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Income Tax
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Income Tax Return (ITR) filing can be quite a dreary process for most people. It’s even duller for people who have a substantial number of investments. ITR filing involves a number of...
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When it comes to running a business today there is no denying the need for technology to make things easier. In some instances, you even need technology just to gain a competitive...
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It is important for gamblers to understand that they have to comply with the legislation regarding taxes and gambling in their country. Tax laws differ from one country to another, which is...
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The earning class of the society has to pay income tax. There are no two ways to this. The higher you earn the higher tax you have to pay. For as long...
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Supreme Court’s verdict on the 31 petitions that challenge the constitutional validity of the Aadhar Act is out. A bench of five judges that Chief Justice of India, Dipak Misra headed, ruled...
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The due date for filing of Income Tax Returns and Audit Reports for Assessment Year 2018-19 is 30th September, 2018 for certain categories of taxpayers. Central Board of Direct Taxes(CBDT) had earlier...
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Trucking company owners have been relying on freight factoring for decades, but the benefits of factoring extend far beyond same day funding. Thanks to fuel advances and discounts as well as free...
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The due date for filing of Income Tax Returns and Audit Reports for Assessment Year 2018-19 is 30th September, 2018 for certain categories of taxpayers. Upon consideration of representations from various stakeholders,...
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Unique Identification Authority of India (UIDAI) today said that it is the responsibility of schools to provide Aadhaar enrolment and update facility to their students and ensure that no children are deprived/denied...
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Did you file your Income Tax Return (ITR) on time and think that your job is done? Well, it is not over yet. The government of India has made ITR verification mandatory....
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With so many taxes going around, it becomes a daunting task for a new taxpayer or a start-up to worry about them all. Knowing them individually and how they apply to you...
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Extension of date for filing of Income Tax Returns for taxpayers in Kerala The Central Board of Direct Taxes(CBDT) had earlier extended the ‘due date’ for filing of Income Tax Returns from 31st...
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Most people get confused with similar sounding words. TAN and TIN are one of those and may create confusion. In this post, we will explain the concept of TAN Number & TIN Number....
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TDS or Tax Deductible at Source is a big confusion point for a lot of taxpayers. What is TDS, how is it calculated and how is it deducted are some questions users have in...
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GST or Goods and Services Tax is a landmark reform that came into effect from July 1, 2017. This reform aims to eliminate multiple taxes at multiple points of transactions. Hence, you...
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In simple terms, Income tax is the tax levied on your personal income directly. The tax levied by the government on the financial income of different entities generated within their jurisdiction is called Income Tax. All individuals and businesses are mandatorily required to file income tax return in order to determine the amount of tax they need to pay to the government and to determine if they are qualified for a tax refund. The government uses these funds generated in the form of income tax to serve the public and fund its activities. Some of the types of income taxes are Corporate Tax, Capital Gains Tax, Personal Income Tax, Fringe Benefits Tax, Banking Cash Transaction Tax, and Business Income Tax. You are supposed to pay a percentage of your income as income tax based on in the income tax slab that you fall under. Higher the income, higher is the income tax.
