FAQ about tax in Chennai
How to check my Income tax Refund Status
https://tin.tin.nsdl.com/oltas/refundstatuslogin.html – Use you PAN number to check your income tax refund status.
What is the type of taxes in India?
There are many types of taxes in India. In general Income tax, Sales tax and services tax are the three major part of the tax system in India.
Who will pay income tax?
If you income more than 2.5lakh per annum, you should pay income tax. I.e. if you age is less than 60. For senior citizens at the age of 60 plus the income tax slab will be 3 lakhs. For super senior citizens at the age of 80 plus the income tax slab will be 5 lakhs.
Who will pay service tax?
If you offer any services to users / customers / consumers. You should collect tax amount of 14.5% from the end user. That you need to pay to government as a services tax
Who will pay sales tax?
If you sell any product to end users, you need to collect a VAT / Sales tax amount of 5% from them and need to pay to the government.
How to pay service tax to the government?
Through TR-6 challans, you can pay the service tax to any authorized branch or through a service tax consultant.
Can I pay services tax by online?
Yes you can pay services tax by online through e-payment method
What is the service tax for the self-employed
if you are a proprietor, contractor for any government or private agencies, partnership firm, business traders or a part time business. You should pay service tax by annual.
Is any chance I can save my tax?
Yes, of course, you can save your tax amount by various methods. By investing your payments in LIC, Post office saving schemes you can save tax
What is the popular tax saving methods in India?
Under save tax section 80C, Section 80CCC, Section 80CCD is the famous method in India to save your income tax or minimize the taxpaying. Up to 1.5 lakhs, you can save your tax on these systems.
Home rental or Home EMI can use for tax saving methods?
Yes, you can use your home rental or home EMI methods to deduct your tax saving. File your rental document of EMI document to avail this offer at the time of taxpaying.
What is TDS?
TDS (TAX DEDUCTABLE AT SOURCE) is one of the latest tax collections methods in India. A certain amount of amount may collect from an individual or business person and it calculated at the income tax filing.
Tax FAQs, Income tax refund status, Income tax refunds