Dear employees, businessmen, house of the wife and pensioners,I know all you are busy with your routine. Now the ‘Income Tax Month’ March-2012 just ahead and waiting for your contribution to the nation. Yeah! I am talking about Income Tax. If you file Income Tax surely it will help to the nation a lot. India will begin big project and become #1 nation in the world (off course, if there is no BHRASHTACHAR). Anyway, ‘corruption in India’ is not a topic today. The blog article Can You Deduct Moving Expenses When You File Your Taxes?; inspires me to write something on this issue.
Well, Income Tax i.e., a personal tax levied on annual income - is the term everyones get panicked while filing it. In fact, there is no bar age limit for a person to be responsible to pay income tax. Clearly, you have to pay tax whether you are working or a pensioner if your income is more than a certain level but if your annual income is below a particular level, no tax is imposed on you.
Income tax in India is charged according to type of income (in other words it called as ‘slabs’) for example employment income, pension income, social security income, self-employed income from a business or profession, property income, savings and investment income and other miscellaneous income. Filing for tax return in India depends upon the residential status of a person. Three types of residents are mostly considered depending upon their stay in India.
All you have many options to file Income Tax. E-filing is one best methods to contribute it. Online Income Tax Filing is surely the great option because you never need to face critical questions. Just go through simple question answer mode and file your Income Tax. You can also get advantage of ‘Section 80 C Deductions’ of the Income Tax India and fulfill the process.
So contribute yourself with your valuable time for valuable cause …. File Income Tax!
