They are usually an involuntary fee which is levied corporations or individuals which are enforced via the government entity, whether regional, local or national in order to the finance government activities. In the economy taxes does falls on whomsoever pays the burden of the tax, it could be either entity which is being taxed, or the end consumers of the business goods. They are levied by the states upon their corporations and citizens to fund services of public and works.  Payment of the taxes are compulsory and tax evasions, if the taxes are not paid on time, they are punishable by the law. The payment of taxes could also be done online with easy steps. Some of the common kind of taxes are- GST, Property Tax, Income Tax, tariff, excise duty, Stamp duty etc. However, the taxes do vary according to the nations. Besides conventional taxes, there are other taxes which have been introduced recently as- Swatch Bharat Cess Tax, Infrastructural cess tax and Kalyan Cess Tax etc. Read here tax planning related articles & news and plan your tax savings investment.

5 Things to Keep in Mind When E-Filing Income Tax Returns

Online Income Tax Return Filing The process of filing income tax returns is done every year; however, paying some caution and diligence while filing the ITR will go a long […]

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Only 0.39% Farmers in India Eligible to Pay Income Tax

Income tax in India, as in all developing countries, is a fraught topic. Ghana, for instance, has revealed in their new budget a determination to widen the tax base. With […]

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Tips on Tax E-filing for First-Time Freelancers

Tax E-Filing “The hardest thing to understand in the world is the income tax,” said Einstein. As the tax season arrives every year when the salaried and businessperson hurry to […]

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Govt Notifies New Simplified Income Tax Return Form

As an attempt to simplify the tax filing process and reduce the compliance burden on the taxpayer, The Central Board of Direct Taxes (CBDT), or the regulator of income tax, […]

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11 Useful Income Tax Deductions for 2017-18

Tax Saving Options in 2017-18 Knowledge about income tax deductions is not only helpful for individuals but also for Companies, Individual firms and a Hindu United Family (HUF). You would […]

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What is Taxable and Nontaxable Income

Taxable and Nontaxable Income in India Beyond a certain annual income, you need to pay a percentage of tax on your income. This differs with differing gender, age, whether you […]

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Tax-Saving Tips for Buying and Selling a Property

A house is a necessity for every human being.  We strive endless, to achieve the goal for ourselves, by making savings regularly, by taking home loans, and through other means. […]

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Tax on Pension Income: Computation of Amount Exempted

In most cases, employees are paid a certain amount in lieu of the services provided by him or her to their respective employers, upon retirement. This amount is paid periodically […]

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Avoid Penalty for Late Filing of Income Tax Return

Income tax return is a tool for the government. It helps to assess nation’s wealth and plan out schemes and services accordingly. Consequently, the government will have a better idea […]

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Income Tax Calculator- How Much Will My Tax Refund Be This Financial Year?

A tax refund is a rebate on taxes, when the tax liability is less than the taxes paid for the given financial year. In such cases, taxpayers can get a […]

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