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Generally, a company's export earnings are 50 percent exempt. For companies, the tax day (i.e. tax return due date) is now the 15th day of seventh month following the end of income year; alternatively, where that fifteenth day is before 15 September, the tax day is 15 September of the year following the end of the income year. [3]
The Income Tax Department of India specifies the use of the Form and various rules and regulations are associated with it. The Income Tax Act, 1961, and the Income Tax Rules, 1962, govern the process of filing Income Tax Returns in India. Form 3CE is a part of this process and is an Audit Report format and is required by Section 44DA. [24]
Tax exemption is the reduction or removal of a liability to make a compulsory payment that would otherwise be imposed by a ruling power upon persons, property, income, or transactions. Tax-exempt status may provide complete relief from taxes, reduced rates, or tax on only a portion of items.
NBR is the authority for tax policies and tax laws in Bangladesh. [1] [2] NBR collects almost 97% of tax revenue and almost 85% of total revenue for the government of Bangladesh. [3] The Customs, Excise and VAT Appellate Tribunal is a tribunal under the National Board of Revenue established in 1995. [4] [5]
A challan or bank challan is defined as an official document, form, or piece of paper used to credit money from one account to another. It is almost similar to the deposit slip available in the bank with which you can deposit money into someone's account in cash.
NGO Affairs Bureau was founded in 1990. [2] All NGOs that receive fund from outside Bangladesh are required by law to register with the bureau which falls under the Chief Advisor's office. [ 3 ] Mohammad Asadul Islam is the present director general of the bureau. [ 4 ]
Charitable organizations in Nigeria are exempted under §25(c) of the Companies Income Tax Act (CITA) Cap. C21 LFN 2004 (as amended), which exempts from income tax corporate organizations engaged wholly in ecclesiastical, charitable, or educational activities. [34] Similarly, §3 of the Value Added Tax Act (VATA) Cap. V1 LFN 2004 (as amended ...