Each year taxpayer is required to file their Income Tax Return (ITR). The Income tax return comprises the information of your annual income along with the payable tax which you require to file. Under different sections of the Income Tax Act 1961, there are some tax rebates and exemptions are being provided by the Government …
Category: Taxation
What is Indirect Tax?
Indirect tax is a tax that can be accepted on to another individual or unit. Indirect tax is usually levied on suppliers or manufacturers who pass it on to the final consumer. Excise duty, Custom duty, and Value-Added Tax (VAT) are some of the examples of Indirect taxes. Indirect Tax in India Here are numerous …