The applicable Income Tax Rates are prescribed by the Finance Act annually. The Finance Act 2012 prescribes the following rates.  More......

Tax Deduction at Source (or Withholding Tax) is a mandatory deduction a person has to make from certain payments and remit it to the credit of the Government. The rate of deduction varies according to the nature of payment as well as the category of the payee. More....

In computing long term capital gains, the cost of acquistion is enhanced based on an index. The indexed cost = original cost of the asset * index rate in the year of sale / index rate in the year of acquistion. The difference between the sale value and such an indexed cost is the capital gain. More....

Various compliances are stipulated under the Income Tax Act. These relate to payment of taxes, TDS remittances, filing of returns,etc. More....

Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the
form of a laminated card, by the Income Tax Department.

PAN was introduced to facilitates linking of various documents, including payment of
taxes, assessment, tax demand, tax arrears etc. relating to an assessee, to facilitate
easy retrieval of information and to facilitate matching of information relating to
investment, raising of loans and other business activities of taxpayers collected
through various sources, both internal as well as external, for detecting and combating
tax evasion and widening of tax base.  More.....

TAN or Tax Deduction and Collection Account Number is a 10 digit alpha numeric number required to be obtained by all persons who are responsible for deducting or collecting tax. It is compulsory to quote TAN in TDS/TCS return (including any e-TDS/TCS return), any TDS/TCS payment challan and TDS/TCS certificates. 

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