Saturday, November 26, 2022

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‘Expenditure Tax’ in place of Income Tax : Indeed a block-buster reform

If Personal Income Tax (PIT) is done away with, not only more than 6 Crore people will have freedom from the burden of submitting the annual ITRs for which now the last date has further been extended from 31st December 2021 till 31st March 2022 but even the organizations complying with the TDS will also be free from the burden of collecting, remitting and submitting various returns if PIT is shelved.

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