Taxes are an essential constituent in India. A major portion of the income incurred by the government is accounted for them. This income is the income that is used to offer certain basic provisions to the citizens. An individual is expected to make payment of taxes, according to the existing tax slabs, if he earns a certain amount. Though these taxes could be harsh on the taxpayer’s bank balance, the government also offers certain provisions through which one can save taxes. Tax deductions assist you in reducing the taxable income by lowering the overall tax liability and thus aiding them on saving taxes. The ones who are eligible for deductions depend on several factors, with different limits fixed for different purposes.
Showing posts with label Income Tax Rebate 2. Show all posts
Showing posts with label Income Tax Rebate 2. Show all posts
Saturday, 20 January 2018
Taxes are an essential constituent in India. A major portion of the income incurred by the government is accounted for them. This income is the income that is used to offer certain basic provisions to the citizens. An individual is expected to make payment of taxes, according to the existing tax slabs, if he earns a certain amount. Though these taxes could be harsh on the taxpayer’s bank balance, the government also offers certain provisions through which one can save taxes. Tax deductions assist you in reducing the taxable income by lowering the overall tax liability and thus aiding them on saving taxes. The ones who are eligible for deductions depend on several factors, with different limits fixed for different purposes.
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