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INCOME TAX: A LAYMANS OVERVIEW
In today’s world nothing is free. We have to pay taxes even for our basic needs in form of vat, service tax etc. Similarly a tax is levied on income of individual or business is known as Income Tax. The incidence of income tax can be progressive, proportional or regressive. The tax levied on individual [...]
Extension of due date of filing income tax returns and tax audit reports for J&K & Bihar
The Central Board of Direct Taxes have extended the last date of filing of income tax returns and obtaining tax audit report under section 44AB of the Income Tax Act, 1961, due by 30th September 2008, to 30th November 2008 in the states of J&K & Bihar, in view of the dislocation caused due to [...]