How does the Government collect Income Tax?
Submitted by navin on Wed, 10/22/2008 - 14:18
Taxes are collected by three means:
- voluntary payment by persons into various designated Banks. For example Advance Tax and Self Assessment Tax
- Taxes deducted at source [TDS] on your behalf from the payments receivable by you.
- Taxes collected at source [TCS] on your behalf at the time of spending.
It is the constitutional obligation of every person earning income to compute his income and pay taxes correctly.
Query
Hi,
I have some queries regards tax submissions, any one of you please clarify me. Thanks
-My wife had gone for delivery in the month of April 2009, the total expenditures are around 58,000/-, I have got 30,000/- from medical claim. Can I show the remaining amount in tax benefits?
-My wife has joined B.Ed in the month of August 2009, for which she paid 25,000/- as a complete course fee. Can I show that amount in tax benefits?
If yes, please tell me what forms I need to submit. Appreciate your help.