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Tax deduction at source (TDS) is an Indian withholding tax that is a means of collecting tax on income, dividends, or asset sales by requiring the payer (or legal intermediary) to deduct tax due before paying the balance to the payee (and the tax to the revenue authority).
The Goods and Services Tax (GST) is a successor to VAT used in India on the supply of goods and service. Both VAT and GST have the same taxation slabs. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes. Multi-staged as it is, the GST is imposed at every step in the production process, but is ...
Launched in 2006 by the Income Tax Department, the Tax Return Preparer Scheme assists small and marginal taxpayers in preparing and filing their tax returns by creating a company of ‘Tax Return Preparers’. Tax Return Preparers are experts in income tax law and in filing of income tax returns.
The free online tax filing program piloted this year by the IRS will be made permanent and its scope will be expanded, Treasury Secretary Janet Yellen announced Thursday. Known as “Direct File ...
The Tax Deducted at Source (TDS) on payments made by assessees is deposited under the TAN to enable the assessees who have received the payments to claim the tax deducted in their income tax return.
The Air National Guard intelligence unit involved in the massive classified documents leak by an airman last year has been recertified and will return to its mission on Saturday after months of ...
At least seven people perished and nearly 100 were injured on Saturday night when a powerful tornado struck communities in north Texas near the Oklahoma border, Governor Greg Abbott said at a news ...
Ayurveda is a traditional Indian healing system that focuses on balancing the body, mind, and spirit for overall wellness.