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waht is income tax

frnd income tax is d payment u have 2 give 2 d government for income u earn by urself ................................... ....................... jocks apart dear frnd it is d tax charged on ur income if it is more than 1.2 laks PA...income tax government ki taraf se lagaya jane wala tax hai jo aapki earning par lagaya jata hai jo sarkar apni revenue me show karti hai...income tax is certain amt

Posted in Delhi by harish at 4:17 PM on March 07, 2008
Tags waht, income

Property Tax comes under which catagory either direct tax or indirect tax?

Property tax, or millage tax, is an ad valorem tax that an owner pays on the value of the property being taxed.There are three species or types of property: Land, Improvements to Land immovable manmade objects; i.e., buildings, and Personal movable manmade objects. Real estate, real property or realty are all terms for the combination of land and improvements. The taxing authority requires and

Posted in Law Anonymously at 6:23 PM on December 05, 2008

How to pay the tax under the income tax act ?

to this link or website of income tax http://www.incometaxindia.gov.in/ .INCOME TAX ACT, 1961 AS AMENDED BY FINANCE ACT,Content wise Chapter No. Chapter Heading Chapter I PRELIMINARY Chapter II BASIS OF CHARGE OF TOTAL INCOME ON WHICH NO INCOME-TAX IS PAYABLE Chapter VIII REBATES AND RELIEFS Chapter IX DOUBLE TAXATION RELIEF Chapter X SPECIAL PROVISIONS RELATING TO AVOIDANCE OF TAX Chapter XI ADDITIONAL INCOME-TAX

Posted in Personal Finance & Tax by seeta rani at 5:00 PM on October 08, 2008
Tags income

WHAT IS Tax and Tax savings

A TAX IS A PAYMENT MADE BY THE PERSON WHO HAS EARNED INCOMEDURING A YEAR TO THE GOVERNMENT.Tax savings :--The Budgets presented over the past few years had but one larger message for the retail investor: Invest more in equities. Budget 2005 seeks to facilitate such investments.The revamp of personal tax laws proposed by the Finance Minister will have the effect of opening up a wide array

Posted in Personal Finance & Tax by seeta rani at 3:37 AM on May 20, 2008
Tags savings

How many type of taxes?

there are many types of tax, this link will help you better http://www.zibika.com/a/taxcor nerwww.zibika.com...Tax can be categorized into various types and they include the following: Corporation tax Capital gains tax Consumption tax Income tax Inheritance tax Property tax Excise duty Poll tax Sales Tax Retirement tax Tariffs Wealth tax or net worth tax Toll Transfer tax Value

Posted in Personal Finance & Tax by shyam singh at 1:07 AM on September 26, 2008
Tags type, taxes

How do capital gains from sale of stock differ from that of any other asset?

of tax.Period of Holding:In case of shares or securities, the period of holding before sale is more than one year for such asset to be termed as Long Term Capital Asset, if the holding is one year or less Capital Assets.Rate of Tax:Short Term Capital Gain: If the transaction has suffered STT, then the rate of tax is 10, if the transaction has not suffered STT, then the normal rate of 30 is applicable

Posted in Personal Finance & Tax by keshav at 1:32 AM on October 09, 2008

what is Wealth Tax?

Well, Because of the broad term "wealth", property tax, capital transfer taxes inheritance tax, estate tax, gift tax, endowment tax and capital gains taxes are sometimes referred to as "wealth taxes".Wealth tax is a direct tax, which is charged on the net wealth of the assessee. It is a tax on the benefits derived from ownership of property. The tax is to be paid year after

Posted in Personal Finance & Tax by akash singh at 9:10 PM on October 07, 2008
Tags wealth, tax

What is TIN ? and who can apply for TIN?

TIN Number is the Tax registration identification number,for the purpose of collection of commercial taxes,allocated by the Commercial tax department.Earlier to imposition of value added taxes,it used to be called as Tamilnadu general sales tax registrationTNGST each state had its own different ways of registration.Under the Value added tax system ,By one single number the activities

Posted in Chennai by Senthil at 6:43 PM on September 24, 2008
Tags apply, tin

What are the rates of Capital Gains tax?

it sounds like, they are not talking about investment strategies, but rather a potentially important part of the United States tax code. All this matters because the IRS taxes short-term and long-term gains,000 of the loss in a tax year and must carry the remainder forward. Carried-over losses are used to reduce capital gains in a future year, and can be carried over until all used up. If you die with carried

Posted in Personal Finance & Tax by keshav at 1:21 AM on October 09, 2008

what is ADVANCE INCOME TAX?

Tax payers whose total income is likely to be chargeable to tax for the assessment year are required to pay tax in advance during the financial year April 1 to March 31 on their estimated current income, which will be assessable to tax during the next following financial year called assessment year. The current income for this purpose means the total income which will be chargeable to tax

Posted in Personal Finance & Tax by seeta rani at 8:03 PM on September 18, 2008

What are indirect taxes?

taxes which are levied on one person but ultimately paid by some one else..so they are taxed indirectly...example being sale tax, excise duty, service tax, custom duty...Indirect taxes are charged on goods produced, imported or exported. Excise and Customs duties are some common examples for indirect taxes. Sales taxes, VAT etc....an indirect tax such as sales tax, value added tax VAT, or goods

Posted in Personal Finance & Tax by Pulkit Dutt at 5:05 AM on February 18, 2008

What are the Forms of taxation?

A tax is a financial charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent of a state for example, secessionist movements or revolutionary movements. Taxes are also imposed by many subnational entities. Taxes consist of direct tax or indirect tax, and may be paid in money or as its labour equivalent often but not always unpaid. A tax may be defined

Posted in Personal Finance & Tax by ram nath at 4:22 PM on December 05, 2008

What is the reaction of India Inc to fringe benefit tax?

Reaction of the Indian Incorporations as to the enactment of FBT-India Inc is quite nervous about the proposed fringe benefit tax and feels that the gains from the reduction in corporate tax benefit tax. A recent survey also said that because of the impact of the fringe benefit tax, companies across sectors are likely to cut down on the increments that employees would get. The proposal has

Posted in Personal Finance & Tax by bhupender at 12:15 AM on September 27, 2008

Why fringe benefit tax?

.These benefits are either taxed in the hands of the employees themselves or the value of such benefits is subject to a fringe benefit tax in the hands of the employer.The rationale for levying a fringe benefit tax minister has proposed to adopt a two-pronged approach for the taxation of fringe benefits under the Income-tax Act.Perquisites which can be directly attributed to the employees will continue to be taxed

Posted in Personal Finance & Tax by bhupender at 12:12 AM on September 27, 2008

What is the reaction of India Inc to fringe benefit tax?

Reaction of the Indian Incorporations as to the enactment of FBT-India Inc is quite nervous about the proposed fringe benefit tax and feels that the gains from the reduction in Delegation from Down Under scouts India ... The proposal to introduce a fringe benefit tax had evoked strong reaction from the ... Inc has said that it is stamping its well attrition rate, exceeding 20 per cent for India Inc

Posted in Personal Finance & Tax by shyam singh at 1:08 AM on September 26, 2008
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