Form 26AS, also called an Annual Tax Statement, is an important document issued by the Income Tax Department of India. It is a look-up cash register, which sums up all taxation-related transactions of a taxpayer on an annual evaluation.
The tax system is essential for the state, providing funding for public services like education and healthcare through progressive taxation.
Tax planning is the set of proactive techniques that individuals and businesses use to avoid paying their taxes by all possible legal tricks.
Taxable income is subject to taxation, while non-taxable income is exempt from taxation in income tax return filing.
Income tax return: new changes, benefits, and how to file with Web Online CA.