As per the rules of the Income Tax Act, 1961, individuals who earn an income are required to pay an income tax on such income. There are income tax slab rates which specify the amount of tax payable at different …
Introduction When an assessee or the taxpayer files their income tax statement or return, it is assessed and processed by the Income Tax Department. If there is any error/mistake/discrepancy in the statement, then the same is intimated to the assessee …
Income tax is a tax on income the assessee earns and receives in India. Every individual is liable to pay income tax on the Income exceeding Rs.2,50,000/- Per annum. The Income can be received from different sources. Of these, one …