What is Tax refund?

Answer Posted / asit poddar

Tax Refund = (Tax Payment - Tax Payable)

If u made payment is greater than Tax payable then it would
be refundable.

Is This Answer Correct ?    41 Yes 3 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

IF a vendors charges WCT @8.75% what is the rate of TDs to be deducted against that? & can we take the Input of it?

5082


if salary paid per month Rs 80000/ I will deduct TDS from his salary, please what I do explain.(send Urgently)

958


Dear Sir/Mam Please send me a return under delhi vat for learning purpose Thank & Regards Sonu Kumar

1510


Does the tax liability of an individual get affected due to his residential status? If yes, explain.

615


why is service tax set off is consider while calculating wct tds

1476






A Norwegian Company rents some equipment to a customer in India. The Norwegian Company does not have an office in India. The new tax regulations make in mandatory for them to furnish a PAN number without which a with holding tax will be deducted. The Norwegian company will be paying tax on this rental income in Norway. India and Norway have a Double Tax Avoidance Agreement. I wish to know 1) Is it possible for the Norweigian company to avoid the with holding tax in India?

1427


How many heads are there under total income?

850


Should WCT deduct on Invoice where VAT charged but service tax not charged as service tax is not applicable to concern vendor (vendor gross income under 10Lacs)?

3855


if a item sale on cash bill which is under vat sechdule c local sale tax is 5% so what is the rate of CST without C Form

1304


I have doubt on Input VAT & Output VAT (incoming vat / outgoing vat) I have a HMS software, where we have interface to tally erp. When we import the transactions to Tally from HMS (Hospital Management System) All the purchases what we do for a period, the tax paid on these purchase are showing as out going vat. Similarly when we do the sales of those purchased items through HMS, tax collected from customer is showing as incoming vat. Is these are correct terms what they had mentioned in HMS? Please help me out.

5418


What is Form-I, FORM-F, FORM-H, FORM-E and FORM-C?

7960


Define financial year?

709


I DED TDS ON SALARY AND CONTRACTOR WHERE I DEPOSITED THIS AMOUNT WHICH PROCESS I FLOW TO FULL FILL ALL THE MANDATORY

1529


procedure to get Raw Material free of excise duty under Central Excise Act,

1515


How do you plan to achieve these goals?

1897