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.

Making Tax Digital: 5 Useful Tips

We perceive the most significant change in the UK’s tax system is underway. The transformation will start with Making Tax Digital for VAT from April 2019. Along with this MTD

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All You Need To Know About Section 68 & Section 143 (1) of the Income Tax Act

Section 68 – Cash Credit When there is any amount credited in the books of accounts of the assessee and the assessee has no clarification whatsoever about the source of

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HSN and State Code List under Goods and Services Tax

What is an HSN Code? Harmonised System of Nomenclature Code commonly known as HSN Code is a six-digit uniform code classifying 5000 plus products globally. HSN was an idea which

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How to File Income Tax Return for the Deceased by Legal Heir

Income Tax return After Death Filling of Income Tax return for an individual is mandatory on gross income. During financial year if the person died, according to the income tax

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Personal Tax Return Online- Safer Option than Doing It Manually

Individual Tax Return Filing Nowadays, paying personal tax return online has become a very easy task. You just have to click few buttons and it is done. Few years back

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Demonetization Effect: ITR Filing Rise by 25% Last Year

25% Growth in ITR Filing The period between March 2017 and August 2017 saw a rise in filing of income tax returns by 25 % over corresponding last year period.

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10 Most Important Income Tax Updates From FY 2017-18

New Income Tax Laws in India You must be aware of the latest changes in income tax regulations from` FY 2017-18 as this can affect your financial planning in future.

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Health Insurance Tax Benefits – Deduction Under Section 80D

Section 80D- Tax Savings on Health Insurance Nowadays, it is common for families to opt for all kinds of insurances. The fact that it gives a kind of assurance to the

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Things to Remember When Dealing With IRS Tax Issues

“Paying tax is not a punishment. It is a responsibility.” – Chris Matthew IRS Tax Problems When dealing with tax issues in USA, it is important to take the process seriously.

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What Should You Know About E Filing Income Tax 2018

Income Tax Return E Filing Every individual whose total income comes in the taxable slab should file income tax return according to the section of 139(1) of Income Tax Act,

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