Tax

Power and Functions of Deputy Commissioner of Taxes Deputy Commissioner of Taxes (DCT) performs both administrative and judicial function in rendering services. He is appointed…

The scope of Total Income: Thus, the scope of income depends upon the residential status as well as the place and year of accrual. To…

Classify income on the basis of assessment and briefly explain each of them Assessable incomes are income for those which include total income ascertaining total…

Generally assesses means a taxpayer that is a person who is to pay tax. He is a person or group that is being assessed (judged),…

Income tax authority is the official body that administers and collects a country’s taxes. The bodies responsible for administering the tax laws of a particular…

National Board of Revenue (NBR): It is the highest administrative authority of tax administration. It is a body consists of a chairman member (tax-1), member…

Describe the power and function of Appellate Tribunal Taxes Appellate Tribunal is the highest Judicial authority in determining the factual point of income tax cases.…

Tax Appellate Tribunal Taxes Appellate Tribunal is the highest Judicial authority in determining the factual point of income tax cases. According to section 2(5), ‘Appellate…

Tax: The word “taxation” comes from Latin word “Taxio”. It means to determine the payable quantum on the estimate. So, a tax is the revenue collected…

The return on sales is a ratio used to derive the proportion of profits generated from sales. The concept is useful for determining the ability…