Presentation on tax office in dhangadhi,kailali

Presentation on tax office in

dhangadhi,kailali

Whole class member of section BBM ‘a’

PRESENTED BY:

Content:• ACKNOWLEDGEMENT• INTRODUCTION OF TAX• TYPES OF TAX• WHY TO PAY TAX• AIM TO COLLECT TAX AND COLLECTED TAX• TAX COLLECTED FROM DIFFERENT HEADINGS• TAX RATE• PAN• VAT REGISTRATION• WHEN TO FINE VAT RETURN AND AMOUNT• HOW THE OFFICE CATCH THE BLACK MONEY• CONCLUSION

ACKNOWLEDGEMENTWe would like to heartly thanks to our

teacher Mr.Rajendra bir Chand who provide us opportunity to do this wounderful project on the topic”Tax office in dhangadhi”.

Our thanks goes to tax office and Suraj Dhungana sahka aadhikrit for providing us information without which this project would have not been success.

Our whole class member wants to thanks to all those who helped us a lot to finish this project in limited time.

Still if we lack in some aspect please forgive us.

INTRODUCTION OF TAXA fee charged (levied) by a government

on a product income or activity. Tax generally is computed as the product of a tax rate times taxable income. The tax rate may increase as taxable income increases. Tax rate may vary by type or characteristics of the tax payer.

TYPES OF TAX

DIRECT TAX:The term direct tax means a tax paid

directly to the government by the person on whom it is imposed likewise in the real and personal property,rental profit,livestock,crops,wages.

INDIRECT TAX:The term indirect tax means a tax

collected intermediary such as retail store from the person who bears the ultimate economic burden of the tax such as consumer. It includes sales tax,specific tax,vat or good and services.

There are generally two types of tax which are listed below:

DIRECT TAXINDIRECT TAX

WHY TO PAY TAX?

The main motto of taxation is to finance government expenditure, public finance,

Public goods and services such as street lightning and street cleaning. There is a great saying that,”THE TAX WHICH WE PAY TODAY WILL BE USE FOR THE DEVELOPMENT OF OUR NATION AS WELL AS FOR WE COMMON PEOPLE IN NEAR FUTURE”.

AIM TO COLLECT TAX AND COLLECTED TAX FROM PERIOD 2067 TO 2070

AIM TO COLLECT TAX

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From the above detail it is concluded that the collected tax is more than that of aim hence it will lead to development.

COLLECTED TAX

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TAX COLLECTED FROM DIFFFERENT HEADINGS:

INCOME TAX: It is collected according to the income of the people. Upto year 069/070 33 crore 18 lakh income tax is collected.

HOUSEHOLD TAX: It is collected 10% on the rent and upto now 1 crore 62 lakh is collected.

INTEREST TAX: It is collected from bank, finance and 1 crore 51 lakh is collected till now.

VAT: It is taken 13% on goods and services. It is collected 27 crore 61 lakh till this year.

OTHER TAX: It include excise, education and health. Upto now from excise 1 crore 93 lakh from education 24lakh 43 thousand and from health 8 lakh 28 thousand is collected.

TAX RATE

INDIVIDUAL: It includes natural person and sole proprietorship firm. Tax is calculated as below:

couple single

1% 2,50,000 2,00,000( 0% if business)15% 20,00,000 20,00,00025% 35,50,000 35,50,000

35% Above Above

ENTITY: It include company, joint venture, patnership etc .

Normal- 25% on taxable incomeBanks, finance, insurance, dealing in liquor items -30%Smalll industries-20%

LOGO

PANIt stands for Permanent account number. It is the unique identification given to each tax payer. Upto 2070/03/31 24 thousand 75 people have taken PAN.

VAT REGISTRATIONBefore conducting vatable transaction each person needs to be registered in VAT. Compulsory registration:Goods- Rs 20,00,000Services- Rs 10,00,000Goods and Services- Rs 10,00,000

Application should be submitted to tax officer and after fulfilling all requirement documents tax officer give VAT registration certificate to tax payer.

When to file VAT return and amount

Normally VAT return period is 1month but in some cases , 2 month, 3 month and 4 month also.

VAT should be deposited within 25 days of the completion of VAT return period otherwise 15% interest and 10% additional charge is levied.

How the tax office catch the black moneyVAT ACT, 2052 and rules 2053 has given right to tax officer to inspect the tax payer transaction if their behaviour are found suspicious and issue necessary order to implement the provision of act and rules.

Conclusion

From, this field work it is concluded that the tax we paid is used for the development of our locality. So,it is necessary to pay tax for our betterment and to help in the development of society as well as for the nation..

Thank youHAVE A NICE DAY