Income Tax / TDS / VAT Session

This 2-hour session will cover the basics of Income Tax, TDS, and VAT. We’ll begin with Income Tax, exploring what it is, the types of taxable income, exemptions, deductions, and how tax is calculated based on income slabs. Next, we’ll dive into TDS, explaining its purpose as a tax deducted at the source, the different rates applicable to various payments, and how TDS is handled specifically for salary income, including an overview of Form 16. Finally, the session will cover VAT, discussing its definition as a tax on goods and services, the conditions for VAT registration, and the concept of input tax credit, which allows businesses to claim credit for VAT paid on purchases.