16 October 2012
Why is the income earned in the previous year,assessed in the next year? what if all the income that one has earned is spent?what if the person has no tax to pay?
16 October 2012
Good question but not at the right time when Govt is proposing to make payment of tax a fundamental duty.
There are others in the country without any income hence as citizens we have to allocate a portion towards tax. If forgotten, better remember and earn next year and pay with penalty.
CAclubindia
