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Inland Revenue Department (IRD) Nepal is the department of Nepal Government under Ministry of Finance, located in Lazimpat, Kathmandu.The IRD is currently responsible for the enforcement of Tax Laws and administration of the following taxes: Income Tax, Value Added Tax, Excise Duty and duties like Entertainment fee (Film Development Fee).
Value Added Tax (VAT) is an indirect tax levied on the value creation or addition. The concept of VAT in Nepal was introduced in FY 2049/50 but the act was developed in BS 2050. VAT was implemented in 1998 and is the major source of government revenue. It is administered by the Inland Revenue Department of Nepal.
An individual's tax liability depends upon two variables: the individual's filing status and the taxable income. [16] The status can determine the correct amount of tax, whether the taxpayer can take certain tax deductions or exemptions that could lower the final tax bill, and even whether one must file a return at all. [17] One must file the ...
Your filing status will determine what you owe in taxes and whether or not you have to file a return at all. Stimulus Update: November Child Tax Credit, Maine’s AGI Checks & Golden State Checks ...
The Income Tax Act, 1961, and the Income Tax Rules, 1962, require citizens to file their tax returns with the Income Tax Department at the end of every financial year and this form is a part of the filing process as specified by the Government of India. The due date for filing return with the Income Tax Department of India is 31 July every year.
the actus reus (i.e., guilty conduct) – an affirmative act (and not merely an omission or failure to act) in any manner constituting evasion or an attempt to evade either: the assessment of a tax, or; the payment of a tax. the mens rea or "mental" element of willfulness – the specific intent to violate an actually known legal duty. [24]
WASHINGTON (Reuters) -President-elect Donald Trump said on Saturday the U.S. should not be involved in the conflict in Syria, where rebel forces are threatening the government of President Bashar ...
"People really didn't know about it until the end of last year," Miller said. "It was out there, but no one really knew much about it." Many of the state's small business owners still don't know ...