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Income tax is collected at source from salaried people,for processional and corporate body, they are to deposit income tax according to various slabs. Value added tax is collected from purchasers through the authorized sellers and are deposited to the government authority.The net of service tax having been widened, the said tax provides good volume of amount to the national exchequer.
Now, these accumulated taxes are distributed among the states, as per density of population during budgetary allocations and considering their past performance, whether any allocated fund has returned unutilized during the last financial year.
What else can I help you with?
When should a business send the collected sales tax to the government?
A business should send the collected sales tax to the government according to the schedule set by the tax authorities, typically on a monthly or quarterly basis.
What is the largest source of revenue for states?
sales tax,property taxes and intergovernmental revenre
How profits are distributed in public limited company?
used to service loans use to pay corporate tax set aside as general reserve
Is the cash accumulation in an annuity tax free?
No. The interest on a deferred annuity is tax-DEFERRED. That is, it is not taxed until it is distributed, at which point it will be taxed as Ordinary Income. (NO annuity EVER received Capital Gains treatment under current law).
Who collects taxes for the county for the taxes?
the County Treasure collects taxes for each county in the U.S For property tax the county assessor comes up with the "assessed" value of a particular parcel of property and the actual tax bill is collected by the county treasure
Which of the following is an example of a tax collected by the state of Georgia?
Sales tax is an example of a tax collected by the state of Georgia.
How do i find the pretax amount if i have the tax percentage and the amount of tax collected?
To find the pretax amount when you have the tax percentage and the amount of tax collected, you can use the formula: Pretax Amount = Tax Collected / (Tax Percentage / 100). First, convert the tax percentage into a decimal by dividing it by 100, then divide the tax collected by this decimal. This calculation will give you the pretax amount before tax was added.
How is charity collected and distributed?
when we give charity to others we get the double of it because charity is such thing that can be given and be collected.
What is tax collected at source?
Tax Collected at Source is a sales tax that is charged in India for certain good. The items that qualify for this tax is liquor, tendu leaves, timber, and scrap batteries.
Is income tax collected monthly?
In the UK income tax is collected in various ways, if you are employed then the PAYE (pay as you earn) system will collect tax each time you are paid, which is usually weekly or monthly, if you are self employed then income tax will be normally be collected annually when your tax return is processed.
Is sales tax collected by wholesalers?
no
What is the process in which water is collected and distributed to crops called?
It is crop irrigation.
Which type of tax is collected by a mediating agent?
A mediating agent typically collects indirect taxes, such as value-added tax (VAT) or sales tax, on behalf of the government. These taxes are included in the price of goods and services and are collected at the point of sale. The agent then remits the collected tax to the appropriate tax authority. This process helps streamline tax collection and ensures compliance with tax regulations.
Who collects sales tax?
Sales tax is collected by the seller and then passed on to the State.
Which type of tax is collected by a mediating agent from the person who is responsible for paying the tax?
indirect tax
Which tax is collected to support retired or disabled workers?
social security tax
Which type tax is collected by the mediating agent and then forward to the government?
indirect tax
