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Challan or Chalan is a common Hindi word (चालान, cālān) that has become an Indian English technical word used officially in many professional, especially financial transactions. It usually means an official form or receipt of acknowledgement or other kind of proof document , piece of paperwork, police citation , etc.
The practice of paying taxes in advance rather than in a single sum at the end of the fiscal year is known as advance tax. These taxes, often known as the 'pay-as-you-earn' scheme, is paid on tax bills above ₹10,000 in installments instead of as a lump sum. The schedule of advance tax payment for individual and corporate taxpayers are:
Sales taxes, tariffs, property taxes, inheritance taxes, and value-added taxes are different types of ad valorem tax. An ad valorem tax is typically imposed at the time of a transaction (sales tax or value-added tax (VAT)) but it may be imposed on an annual basis (property tax) or in connection with another significant event (inheritance tax or ...
The deadline for paying your taxes is the same as the deadline for filing your taxes: April 15. “Many people who owe taxes they can’t afford to pay put off filing or avoid filing altogether.
Stay updated on the news about taxes, deadlines, deductions, laws, the IRS, and all things related to your income taxes.
Failing to file taxes doesn't just impact individuals who owe taxes; it can also result in the loss of potential refunds. The IRS generally allows taxpayers to claim refunds for up to three years ...
The practice of using dastaks for almost any goods was consolidated by Robert Clive when he overthrew the then Nawab of Bengal, Mir Quasim after he opposed the British East India Company's position that their dastaks meant that they could trade without paying taxes (other local merchants with dastaks were required to pay up to 40% of their revenue as tax).
Paying your taxes on time and to the best of your ability is important, but as long as any mistake you’ve made is unintentional, you should be okay. If you need help, consider getting guidance ...