A QUICK RECAP In the last session, we come to a step closer to the completion of basic nuances of taxation. We have talked about the payment of the taxation of the previous year’s income during the same year. In this case, the previous year is the same as that of the assessment year Under …
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 …
Tax is like a jigsaw puzzle. Like in puzzle in order to get a complete picture, one put it together piece by piece. In the same manner to understand the greater picture of the intricacies of taxation, one has to have the hold on the basics. A QUICK RECAP In the …
“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 …
