When goods are imported into a country, they may be subject to customs duties or taxes. These taxes are typically levied on the value of the goods, and they can vary depending on the type of goods and the country of origin. In some cases, the taxes may be waived or reduced if the goods … Read more
Stipends are usually payments made to students or trainees. They can be taxable or nontaxable depending on the purpose of the stipend and the recipient’s circumstances. Stipends for education are generally considered nontaxable scholarships or fellowships. However, if the stipend is for work performed, it is considered taxable income. The recipient should consider the specific … Read more
Indirect taxes, like value-added tax (VAT), are considered regressive because they disproportionately burden lower-income earners. These taxes are often levied on goods and services that people of all income levels consume, such as food, clothing, and transportation. As a result, low-income earners pay a larger share of their income in indirect taxes than high-income earners. … Read more
The Junior Research Fellowship (JRF) stipend awarded by the University Grants Commission (UGC) is generally considered non-taxable under Section 10(16) of the Income Tax Act, 1961. This means that JRF recipients do not have to pay income tax on the amount they receive as a stipend. However, it’s important to note that this exemption applies … Read more
Do Taxis is a type of credit card issued specifically for use in taxis. It offers convenience and ease of payment for taxi rides, allowing passengers to avoid carrying cash or multiple credit cards. By using a Do Taxis card, riders can simply tap or swipe the card to pay for their fare, and the … Read more
The tax status of religious organizations varies depending on the country and the specific organization’s activities. In some countries, religious organizations are exempt from paying taxes on their income and property. This exemption is often based on the idea that religious organizations provide valuable social services and contribute to the community’s well-being. In other countries, … Read more
In India, the number of individuals filing income tax returns has witnessed a steady increase. As of the latest data available, there are approximately 75 million taxpayers contributing to the country’s tax revenue. This number represents a significant portion of the total population, indicating a growing awareness and compliance with the tax laws. The increase … Read more
The Empty Home Tax is a tax imposed by the British Columbia government on owners of residential properties that are left vacant for more than six months of the year. The tax is intended to discourage homeowners from leaving their properties empty and to encourage them to rent out or sell their homes. The tax … Read more
Medical supplies can be tax deductible under certain conditions. They must be prescribed by a doctor and used to treat a specific medical condition. The supplies must also be necessary for the taxpayer to maintain their health or prevent further illness. Examples of deductible medical supplies include bandages, gauze, syringes, and other items that are … Read more
To get help from a TurboTax representative, you can navigate through their automated system. Choose the option related to your issue, such as filing a return, amending a return, or getting help with your account. If the automated system can’t resolve your problem, it will provide you with options to connect with a live agent … Read more