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Tax deduction at source (TDS) has come into existence with the motive of collecting tax from different sources of income. As per this concept, a person (Payer) who is responsible to make payment of specified nature to any other person (Payee) shall deduct tax at source before making payment to such person (Payee) and remit the same into the account of the Central Government.
In India, a Tax Deduction and Collection Account Number (TAN) is a 10 digit alpha-numeric number issued by the Income Tax Department to the persons who are required to deduct or collect tax on payments made by them under the Indian Income Tax Act, 1961.
Such bill, invoice or challan will also include documents used by service providers of banking services (such as pay-in-slip, debit credit advice etc.) and consignment note issued by goods transport agencies. Rule 4B provides for issuance of a consignment note to a customer by the service provider in respect of goods transport booking services ...
The Goods and Services Tax (GST) is a successor to VAT used in India on the supply of goods and service. Both VAT and GST have the same taxation slabs. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.
A daughter of ex-House Speaker Nancy Pelosi ripped into outgoing first lady Jill Biden over the weekend — seemingly comparing her to Shakespeare’s power-hungry, ruthless Lady MacBeth. The Dem ...
Challan or Chalan is a common Hindi word (चालान, cālān) that has become an Indian English technical word used officially in many professional, ...
The global economy is growing steadily in the face of war, protectionist trade policies and high interest rates. It just isn’t growing fast enough to bring relief to the world’s poorest, the ...
There have been 8 reports of made-in-China alarms sold by HSN nationwide and online not sounding in response to smoke.