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How To Pay Excise Duty And Service Tax Online In India?

To pay Central Excise or Service Tax, assesse first have to register to get the assessee code. To register, assessee need to file an application in Form ST-1 (in duplicate) to the jurisdictional Central Excise/ Service Tax officer with self attested copy of PAN card, proof of address of business premises etc. After verification of all the details provided by …

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Tax Benefits Through Investments On Spouse, Parents And Children’s Name

Tax savings in one of the major concerns while managing the personal finance. Anyone never prefers the outflow of their hard earned money in taxes. Specially¬† with the increasing income higher tax slabs are invited and the amount of tax to be paid becomes very high. We think ourselves as smart but taxman is smarter to make a catch. So, …

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Step By Step Guide To File/ Pay Advance Tax Return Online In India

Advance Tax is the part of total tax that a tax payer pays out of his/ her annual tax liability before the end of the financial year i.e March 31. According to the Income Tax Department guidelines, tax payers are liable to pay advance tax on the income where tax liability is more than Rs 10,000 in a financial year …

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Difference Between Minimum Alternate Tax (MAT) And Alternate Minimum Tax (AMT)

Companies have to prepare their book profits based on the guidelines given by Income Tax Department. So, it has been noticed that the profits shown by them to their stakeholders and another for tax purposes vary a lot. The profits for tax purposes are almost nil or very less to avoid tax. To avoid the situation, government has designed different …

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Tax Exemptions And Deductions For Salary Income or Individuals

As an individual, we always prefer to save our taxes. The tax paid by a salaried person is deducted by the company as TDS. Though you should know about the following details to decrease your tax liability and enjoy the maximum possible savings. We would never prefer that our hard earned money has a major outflow because of tax payments. …

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Set-Off And Carry Forward Losses For Income Tax Purposes

There are various Income Tax Rules, under which you can set-off the losses against the gains or carry forward them to set-off in subsequent years. But these rules have to be followed with particular details for set off and enjoy tax benefits. Set-off of losses Under Section 70, the loss incurred from any source of income under any head can …

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