Personal Tax Returns

 

The Core Tax Services Manager is responsible for advising clients on the tax implications of their business objectives, evaluating and selecting alternative actions to lessen tax burden and cost of compliance, identifying different methods of complying with tax regulations while acting as the primary client contact for complex tax issues. Personal Tax Returns   In this role, Core Tax Services Manager is charged withAlthough you have time till the new extended deadline, filing your tax return before the deadline comes with certain benefits such as carry forward of losses, you will also avoid paying late filing fees. If you file your ITR after the deadline you will have to pay late filing fees of Rs 10,000. In the modern times, income tax is an annual tax on income. The Indian IncomeTax Act- External website that opens in a new window (Section 4) provides that in respect of the total income of the previous year of every person, income tax shall be charged for the corresponding assessment year at the rates laid down by the Finance Act for that assessment year. Section 14 of the Income Tax Act- External website that opens in a new window further provides that for the purpose of charge of income tax and computation of total income allincome shall be classified under the following heads of income: salaries, income from house property, profits and gains of business or profession, capital gains, income from other sources.