Self Assessment Tax or SAT in short is the balance income tax that an income tax assessee has to pay before the filing of income tax return (ITR) after deducting the TDS and Advance Tax paid from his total tax liability. Self Assessment Tax (SAT) = Total Tax Liability – Advance Tax – TDS Why … Read more
Income Tax Slabs provide you the first hand information about how much tax you are liable to pay at the end of the financial year. Having knowledge of the income tax slabs puts you at an advantageous position as you can do tax planning and tax saving beforehand. In India, every year during the Annual … Read more
Advance Tax, as the name suggests is the tax that you pay to the Income Tax Department in ‘advance’ i.e., in the same financial year in which you earn the income. Hence it is also called as ‘Pay as you earn’ scheme of income tax. Let’s learn more about the Advance Tax. Who needs to … Read more