Proprietors must file Form 1040, which is the standard form for the income tax returns. 3. File Schedule C: Attach Schedule C (Form 1040), which reports business incomes and expenses. 4. File Schedule ...

If you don't pay what you owe on your taxes when you request an extension, you might get hit with an underpayment penalty. To ...

Kolkata recently allowed the appeal of Terai Fruits Company in a case concerning a penalty levied under Section 270A of the Income Tax Act. The case originated from a reassessment proceeding where the ...

Your taxable income is your income after various deductions, credits, and exemptions have been applied. There are also various tax credits, deductions and benefits available to you to reduce your ...