TDS refers to Tax deducted at source. According to the Income Tax Act 1961 the persons who are responsible for making payments are required to deduct tax at source. The concept says that the person who are making payments of specified nature to some other person shall deduct tax at source and remit the deducted amount [...]
Income Tax is a tax imposed by the government on the financial income earned by all the entities. The tax imposed widely varies within the jurisdiction. Business and individual has to file an income tax return every year to determine whether they are eligible for tax return or are owed for payment of tax. Income Tax [...]
Service Tax is an indirect tax levied on certain services provided by certain categories of persons including companies ,association of person, body of individuals etc., Today services cover wide range of activities such as hospitality, banking, insurance, management, communication, administration, entertainment, research and development forming part of retailing sector. In the contemporary world, development of [...]
Section 139A(1) casts an obligation on every person whose total income or the total income of any other person in respect of which he is assessable, exceeds the maximum amount which is not chargeable to tax and he is already not holding any Permanent Account Number, to apply the assessing officer for allotment of Permanent [...]