Taxation Law

taxes, tax office, tax return

BASIC CONCEPTS OF INCOME TAX – PART 2

                                                       A QUICK RECAP In the last session, we laid emphasis on some of the basics of taxation. We have talked about the charging section of the income tax i.e., sec4. Then we have discussed the assessee [Means a person by whom any tax or any other sum of money is payable under income tax …

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tax, charity, donation

WHAT IS A TAX?

“A tax is a compulsory contribution from the person to the government to defray expenses incurred in the common interest of all without reference to special benefits conferred.”                                                                                                                  –Prof Seligman     WHAT IS A TAX?   The word tax is based on the Latin term “taxo” which means to estimate. Tax is a …

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