Clarification for the purposes of clause (c) of Section 269ST of the Income-tax Act, 1961 in respect of dealership/distributorship contract in case of Co-operative Societies
January, 03rd 2023
Every year, among the obligations a citizen needs to fulfil would be also paying income taxes. The income tax rates vary from individual and depending upon their incomes and profits earned from other sources. Also, tax rates are different for individuals, senior citizens, and corporates. Income tax returns (ITR) are one of the most required filings by taxpayers. While a salaried individual does need to pay their taxes and ITR filing on their scheduled period, however, the government also provides benefits in the form of tax deductions on certain investment mechanisms that can be claimed to save on your taxes.