Income Tax
NEW TDS RATES APPLICABLE FROM 01.10.2009
In India Tax Deducted at Source (TDS) is one of the modes of collecting Income Tax from an assessee. TDS is enforced through Income Tax Act 1965. The concept of TDS is based on the theme of ‘PAY AS YOU EARN’.
Objective
• To enable salaried people to pay tax as they earn. This avoids the burden of [...]
INCOME TAX RATES : F.Y. 2009-10
The Income Tax Rates as per Finance Act 2009 for the FY. 2009-10 are as follows
Rates for Resident Senior Citizens (FY 2009-10):
Up to Rs 2,40,000 NIL
2,40,001 to 3,00,000 [...]
TAX TALK: TAX CREDITS & REFUND REGARDING SCIENTIFIC RESEARCH & DEVELOPMENT
In the era of globalization and industrialization every nation wants to be favorite destination for industrialist. To attract the investment it is necessary to more than that of the basic amenities i.e. industrialist need tax concessions.
Now days various countries like Thailand, China India, Canada, England and many more…. have started giving tax concessions &credits for [...]
GETTING PAN CARD IS A HERCULEAN TASK
Having PAN card is now becomes necessity. PAN is Permanent Account Number. PAN card is required to mention in Tax returns, investing in share markets, mutual funds, purchasing property etc. For issuing PAN card Government of India has appointed NSDL & UTI. Although the Income Tax Department has outsourced the issuance process of PAN card [...]