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The tax liability for Proprietorship, Partnership, and Limited Liability Partnership (LLP) companies in India is determined based on the taxable profits earned by the business during the financial year. Here’s a brief explanation on how to determine tax liability for Proprietorship, Partnership, and LLP companies in India:  Proprietorship businesses are taxed as per the income […]

In India, if an individual or a company fails to pay their taxes on time or files their tax returns after the due date, they may be subject to penalties and interest charges. Here are some of the penalties for delay in tax payments by individuals and companies:  It’s important to note that the penalties

Determining income tax liabilities in India depends on various factors such as the nature of income, the type of taxpayer, and the applicable tax rates and deductions. Here’s a brief explanation on how to determine income tax liabilities in India for various segments:  For individual taxpayers, the income tax liability is determined based on their

Filing income tax returns in India can be a daunting task, but with the right guidance and preparation, it can be done smoothly. Here are some key insights to keep in mind:  By keeping these key insights in mind, you can ensure that you file your income tax returns accurately and on time.