Tax planning is adopt Tax planning a widely adopted practice by individuals and businesses around the world. Taxation planning strategies vary depending on the specific tax laws and regulations of each country. Some countries are known for having more favorable tax regimes and incentives for tax planning, while others may have stricter regulations and… Read More »
GST Filing Compliance GST filing compliance refers to the adherence to the regulations and requirements set forth by the tax authorities for filing Goods and Services Tax (GST) returns. Here are the key aspects of GST filing compliance: Timely Filing: Businesses must file their GST returns within the prescribed due dates. The frequency of filing… Read More »
What does ITNS mean in income tax ITNS stands for “Income Tax Challan Non-System”. It is a type of challan used for payment of income tax, where the payment is made offline through banks or at the designated collection centers. This challan contains details such as the name of the taxpayer, address, PAN number, assessment… Read More »
Is income tax included in the GDP No, income tax does not consider in the calculation of Gross Domestic Product (GDP). Income tax included in the GDP quantifies the total value of goods and services generated within a country’s boundaries over a defined time frame, typically a year. Income tax a tax levy on the… Read More »
Do Members of Parliament Pay Income Tax? When it comes to the financial aspects of public service, one common question arises: do Members of Parliament (MPs) pay income tax? The answer is a straightforward “yes.” MPs, like any other citizens, are subject to income tax on their earnings. Salary and Taxation The salary that… Read More »
Which items are liable for cess in GST In GST, cess is levy on certain goods or services that are consider to be luxury or sin goods, such as cigarettes, tobacco products, pan masala, aerated drinks, and luxury cars. For more information to visit https://www.gst.gov.in/ The proceeds from the cess are mean to be use… Read More »
