Tuesday, 18 March 2014

In the challan there are terms like Income tax on companies & Income tax other than companies . What do they mean?

  1. In the challan there are terms like Income tax on companies & Income tax other than companies . What do they mean?

The tax to be paid by the companies on their income is called corporate tax and in the challan it is mentioned as Income tax on Companies . Tax paid by non-corporates is called Income tax and in the challan it is identified as Income tax other than Companies .

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