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Date of Especial Scheme and General Instructions (Paper II)
01112020Question1:1st career development center in Kerala was started in
A:2016
B:2017
C:2015
D:2018Correct Answer:
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What is special scheme and general?
The special scheme refers to simplified tax reporting options available for certain businesses or professionals, often with reduced compliance obligations. The general scheme involves standard tax reporting requirements that apply to most taxpayers.
Who is required to file special scheme and general?
Entities eligible for the special scheme typically include small businesses or specific sectors defined by tax authorities. The general scheme is required for all other taxpayers, including larger businesses and those not meeting the criteria for the special scheme.
How to fill out special scheme and general?
To fill out the special scheme, taxpayers must complete simplified forms that usually involve fewer details. For the general scheme, taxpayers must accurately complete comprehensive tax forms, detailing income, expenses, and applicable deductions.
What is the purpose of special scheme and general?
The purpose of the special scheme is to ease the compliance burden for small businesses or specific professions, encouraging compliance and supporting economic activity. The general scheme aims to provide a structured framework for all taxpayers, ensuring transparency and accountability in tax reporting.
What information must be reported on special scheme and general?
Under the special scheme, businesses must report basic income and applicable deductions. The general scheme requires detailed reporting on all income, allowable expenses, tax credits, and any other relevant financial information.
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