30 Sep 2015

Let us pay our taxes

March 31st 2015 will be the end of yet another fiscal year.

Fiscal year and financial year are synonymous.

Assessment year is the year in which  you pay taxes; hereas financial year is the year for which you owe taxes. Example assessment year 2015-2016 means you are paying taxes for financial year 2014-2015. Earned income or unearned income generated from 1st April 2014 to 31st March 2015 will be taxed in assessment year 2015-2016 and the deadline to file is 31st July 2015.

Here is the link to the income tax calculator released by the IT website

Let us pay our dues so that our dreams of having a Swach and Sachcha Bharat come true!

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