Difference
This query is : Resolved
RITESH B. PANCHAL
(Querist)
16 March 2011
What is the difference between tax payment & filling of tax return? and Does we make any payment at the time of filling of return?
16 March 2011
Tax payment refers to paying the tax on your income whereas the filing of tax return means disclosing the details of your source of income and any exemptions and deductions if availed. So both are entirely different aspects.
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Murtaza I Bhagat
(Expert)
16 March 2011
Tax payment is depends upon income and exemption and its all about calculation of gross income less exemption and if its over the limit of exemption non taxability after then perscribe rate will be appicable as per rules.
Return is the only way that you can show your income, exemption and tax paid on taxable income in its return format as per provided by IT Dept.
more information you will find from www.incometaxindia.gov.in
Return is the only way that you can show your income, exemption and tax paid on taxable income in its return format as per provided by IT Dept.
more information you will find from www.incometaxindia.gov.in
CA Ravi Sisodia
(Expert)
16 March 2011
Tax payment includs advance tax,tds,self tax payment.
filling of tax return means all taxable income disclosure in statement.
filling of tax return means all taxable income disclosure in statement.
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