Company Tax Returns

 

A business tax return is basically an income tax return. The return is a statement of income and expenditure of the business. Company Tax Returns  Also,  any tax to be paid on the profits made by you is declared in this return. The return also contains details of the assets and liabilities held by the business. Items like fixed assets, debtors and creditors of business, loans taken and loans were given are declared here. Indian taxes are divided into two types: One is Direct Taxes and other is Indirect Taxes. Talking about direct taxes, it is levied on the income that different types of business entities earn in a financial year. There are different types of taxpayers registered with the Income tax department and they pay taxes at different rates. For eg,  An individual and a company being a taxpayer are not taxed at the same rate. Personal Income Tax The income-tax paid by the individual taxpayers is the personal income tax. Individuals get taxed on the basis of tax slabs at different rates.