TAXATION

WHY TAXATION NECESSARY?

Taxation includes various types – direct and indirect. Direct taxes include Income Tax, Corporate Tax, etc. Indirect taxes include GST, Customs Duty, and Excise Duty.

Income Tax is a direct tax levied by the government on the income of individuals and entities. Income Tax in India is governed by the Income Tax Act, 1961. Every earning citizen or business must understand how Income Tax works. It is a legal obligation, but also a smart way to manage your finances. The tax collected is used by the government for the country’s development. Individuals, HUFs, companies, and firms are taxed based on their income levels. Tax planning is essential to minimize liabilities and maximize savings. It is the primary source of revenue for the government. Through taxes, governments provide public services like healthcare, education, and infrastructure.

Filing Income Tax Returns (ITR) is mandatory if your income exceeds the basic exemption limit. There are different ITR forms like ITR-1, ITR-2, ITR-3 based on the type of income. Tax Deducted at Source (TDS) is a method of collecting tax at the very source of income. It is deducted by the payer while making certain payments like salary, rent, interest, commission, etc. The deducted amount is deposited with the government on your behalf. TDS ensures a regular inflow of tax revenue to the government. The person deducting the TDS must issue a TDS certificate (Form 16/16A). Form 16 is commonly used by employers to show TDS on salary. If TDS is more than your actual tax liability, you can claim a refund. Conversely, if TDS is less, you must pay the balance tax. TDS returns must be filed quarterly by the deductor. TAN (Tax Deduction Account Number) is mandatory for TDS deductors.

Benefits of Learning Income Tax & TDS

We focus on industry-relevant training. You learn taxation in a way that’s applicable in real jobs. Our trainers are industry professionals with years of experience. Certificates are provided on course completion. We ensure every learner understands concepts deeply.

How EVOLVEU Supports Your Taxation Journey

EVOLVEU offers a practical, job-oriented taxation course with expert mentors, covering Income Tax, TDS, GST, and more.

• Overview of Income Tax Act
• Direct vs Indirect Taxes
• Types of income & tax calculation
• Form 16, Form 26AS, ITR filing (ITR-1 to ITR-3)
• TDS concepts and quarterly returns
• Advance Tax, deductions, exemptions
• Refunds, penalties, TAN, compliance