$500.00 – $950.00
Income tax is a tax that you pay to the government according to your earnings. It supports development and public services and is computed using government-established income brackets.
The government uses the money it makes to finance vital industries like healthcare, education, and agriculture. Taxpayers can streamline their procedure by using online platforms to pay income tax, TDS/TCS, and non-TDS/TCS.
Generally, anyone who earns income above a certain threshold is required to file an income tax return. This can include individuals, businesses, and other entities.
According to the Income Tax Act, timely filing of income tax returns is required. If you don’t, you may be subject to severe fines and have trouble obtaining a loan, obtaining a visa, etc. However, there are a number of benefits that come with filing your income tax return (ITR) on time.
ax withholding, also known as tax retention, pay-as-you-earn tax or tax deduction at source, is income tax paid to the government by the payer of the income rather than by the recipient of the income.