WHY WE NEED TO SUBMIT RETURNS OF INCOME

Type of income and the sources of income are the basic features for compilation and aggregation of total income. Tax will be calculated based on total income. Every person or entity shall submit returns of income every year and these are referred as taxpayers. Sources of Income (Heads of Income) and Taxation Entity. It isimportant […]

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WHY WE NEED TO SUBMIT RETURNS OF GST

GST is known as the Goods and Services tax. The goods and services tax act was passed by the parliament and came into effect on 1st July 2017. GST subsumed all other taxes currently levied and collected by the centre and state taxes such as central excise duty, service tax, state VAT, central state tax, […]

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