Author Topic: How does the Government collect Income Tax?  (Read 751 times)

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ajshco

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How does the Government collect Income Tax?
« on: March 02, 2013, 07:36:18 AM »
Taxes are collected by three means:
a) voluntary payment by persons into various designated Banks. For example Advance Tax and Self Assessment Tax
b) Taxes deducted at source (TDS) on your behalf from the payments receivable by you.
c) Taxes collected at source (TCS) on your behalf at the time of spending.

It is the constitutional obligation of every person earning income to compute his income and pay taxes correctly.

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