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Double taxation refers to income tax being paid twice on the same source of income. This can occur when income is taxed at both the corporate level and the personal level, as in the case of stock dividends. Double taxation also refers to the same income being taxed by two different countries.
Read MoreIncome from any source such as salaried income, income from a business, rental income, income from investments is taxable. Tax saving is a practice to save tax by making investment declarations.
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