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How does the government collect Income tax?

Question

How does the government collect Income tax?

Expert Answer
Answered 21 Oct 2022
1960 views

Taxes are collected by the Government through three means:

  1. Voluntary payment by taxpayers through advance tax and Self Assessment tax

  2. Taxes deducted at source (TDS) from the income of the receiver.

  3. Taxes collected at source(TCS).

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