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When April 15 is a weekend or a holiday the due date can be a day or 2 after April 15.

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Q: Was income tax ever due on date other than April 15?
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What is sec 44AF of income tax act?

Sex 44AF of income tax act is applicable only to retail trades and the section specifies that the income of the person is deemed to be 5% of total income of any other income declared by the person which ever is higher and this sec is not applicable if the turnover exceeds 40 lakhyou can find more information in http://www.incometaxindia.gov.in/Acts/INCOME%20TAX%20Act/44af.asp web page


What is the definition of source of income?

Where ever the income, property or anything else of value becomes available to you from that would be the source of your income. There are a whole lot of sources of different types of income available from wages from an employer, self employment income, banks, brokers, sale of capital assets, found it on the street, gambling, lottery winnings, stole it, sold drugs, preached, as a minister or barter for some of the income, and a lot of other sources out in the world for you to have a source of income that you receive.


Could income ever be subject to triple taxation?

If you live in New York City, you pay federal, state, and local income tax. If you live in Indiana, you pay federal, state, and county income tax.


Is gross income monthly or weekly?

It can be what ever period that your gross earnings are calculated for monthly, weekly, annual and when you are working on completing your income tax return correctly you would report all of your gross yearly income from all sources on your 1040 income tax return.


Which country has the lowest income tax?

Well officially the only countries that have no individual income tax brackets what so ever are Andorra, Monaco, an the United Arab Emirates.

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Why income tax important for the government?

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