Local governments such as cities, counties, or municipalities assess property tax on real estate. It is typically based on the property's value, as determined by the local government, and is usually paid annually by the owner. Local governments use the...
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Freelancer works for themselves and provides services to different clients on a project-by-project basis instead of being employed by a single company. This gives them the flexibility to manage their workload and choose the types of projects they want to...
Income tax is crucial to a country’s taxation system. It is a direct tax levied by the government on the income earned by individuals, businesses, or any other entity in a financial year. The Income Tax Act of 1961 lays...
What is Income tax? The government levied income tax on the income earned by individuals, businesses, and other entities within a particular jurisdiction. It is usually calculated as a percentage of the taxable income earned by the taxpayer over a...
Direct tax refers to a type of tax that is levied directly on individuals or entities based on their income, wealth, or property and is collected by the government. The government typically imposes direct taxes to generate revenue to fund...
Capital gains tax is a tax levied on the profit made from the sale or transfer of certain types of assets, such as stocks, real estate, and other investments. It is the tax imposed on the capital gain, which is...
As March approaches, the GST Year-End Checklist is a taxpayer's most crucial document! Taxpayers have various obligations to fulfill before April 1, 2023, and some mandates are effective as of that day. Similarly, some things have historically been implemented on...
ITR filing refers to the process of filing income tax returns (ITR) with the income taxdepartment of the government. It is an important compliance requirement for individuals,businesses, and other entities that earn income in India. Taxation statements givetaxpayers the ability...
The Goods and Services Tax (GST) is a comprehensive indirect tax that replaced multiple indirect taxes levied by the central and state governments. The GST system in India is divided into four components - State Goods and Services Tax (SGST),...