In India, income tax is levied on individual taxpayers on the basis of a slab system where different tax rates have been prescribed for different slabs and such tax rates keep increasing with an increase in the income slab. There…
Under the faceless Assessment, a central computer automatically selects one or more tax returns for scrutiny based on risk parameters and mismatches and then allots them randomly to a team of officers. CBDT had notified the National e-Assessment Centre (NeAC) for all communications with…
Financial Year is the year in which you earn an Income while Assessment Year is the year following the financial year in which you have to evaluate the previous year’s income and pay taxes on it. Every Assessee need to understand…
