It is the main source of revenue for the central government. The main motive of collecting income tax is so that the amount raised by the government can be used for the development of buildings, roads and other infrastructure and development services. Income tax is collected by the central ...
Professional tax is collected by the employers from the monthly salaries. It is then paid by them to the government failing which they can have penalties imposed on them for not collecting or failing to pay the professional tax. Income from Salaries in Form 16 and Form 26AS Let’s look at...
Service tax collected from any person to be deposited with Central Government. — (1) Any person who is liable to pay service tax under the provisions of this Chapter or the rules made thereunder, and has collected any amount in excess of the service tax assessed or determined and paid on...