120 likes | 175 Views
VAT registration with the commercial tax UP department is mandatory for dealers. Know Uttar pradesh commercial tax, UP Vat return and payment registration
E N D
Steps to Pay UP commercial tax online By:- myincometaxrefund.in
Mostly corporate companies and professionals higher Chartered Accounts for calculating income tax of financial year. But for the salaried persons and company employees whose taxes are nominal they cannot higher CA to compute tax.
For them this article will help you. They can exemplify and calculate their up commercial tax through this process. It is not so much lengthy. But for this it is very important for the person to save all the salary slips or the income gained in the business.
You must save the bills of whole year to calculate the commercial tax up in the right way using advance tax payment calculator. In the financial year, whole income of year will be counted and on that basis your income tax will be deducted from your income.
Here is the information how you can calculate your Uttar pradesh commercial tax. • First of all you enter the income from salary • Income from capital gain • Income from house property • Income from business and profession
Income from other sources • Now minus the expenses like deduct travel expense, rent of the work place, internet and phone costs. • Now total this amount. • Add surcharge • Add secondary and higher secondary cess • Now count the tax payable. • With this process you can also pay advance tax, if you are eligible for this.
What is Tax? • Advance tax is a good option for those who don’t want to pay taxes in lump some amount. This is an installment process, where the tax payer has to pay income as they earn. It is a “Pay as you earn” facility provided to the business and professional whose tax amount is more than 10,000.
The salaried persons who earns income from capital gains, earn from lottery, house property is also eligible to pay tax in advance. If anyone forgets to pay the tax in advance, he or she has to pay 1% of interest of income
On or before Sep 15th: Tax Payer is liable to pay tax less than 30% of tax payable • On or before December 15th: Tax payer is liable to pay IT return in advance not less than 60% payable.
THANK YOU CREDIT: myincometaxrefund.in