Tag Archives: #CommunityService

What tax deductions are available for Organizations, Charitable and Social Service during ITR filing?

Tax Deducted at Source

Tax Deductions for Organizations Charitable Tax Deductions for Organizations Charitable, and Social Service entities in India can avail various while filing their Income Tax Return (ITR). These deductions help reduce their taxable income, resulting in lower tax liability. Here are some key deductions available: 1. Section 11: Charitable and Religious Trusts (Section11) – Under this… Read More »

Why is tax compliance important?

Importance of tax compliance

Importance of tax compliance   Importance of tax compliance, Tax compliance is important for several reasons: Legal Requirement: Tax compliance is a legal obligation. Individuals and businesses are required by law to accurately report their income, calculate their tax liabilities correctly, and submit tax returns within specified deadlines. Non-compliance with tax laws can result in… Read More »