When it
comes to earning members of our society, the constituent members
may be broadly categorized into individuals, corporations,
partnership firms, local authorities and co-operatives. Each
earning member has to file tax return and pay tax to central
or state government. There is a specific tax return form designed
specially for each category of tax payer, to be duly filled
up respectively. The form is provided by the taxation authority
of government of India to the citizens of India. Each tax
payer fills up details viz. Income Earned, Expenses Incurred
and Deduction & Rebates applicable, which form the basis
of computing actual tax liability. The form includes all the
related paperwork that is required while making tax remittance
to the government
statutory.
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