Recently Junaid Bhai (@Jshak) shared this interesting piece of information about paying General Sales Tax at high end eateries and I realised I really don't know much about paying taxes at all.
For what it's worth, I know that my parents pay taxes and are filers. They don't file their tax returns themselves, but know a guy who does it for them. However, they don't have much knowledge of this either.
I Googled this and did learn a few things, but it was all general stuff. So, now I turn to you guys hoping you might have something that might help me understand?
I know what NTN/STN numbers are. I know that GST is applicable to be paid on everything we buy from anywhere, and that all employees pay a specific income tax on their salaries. I also know that there are other taxes that companies / service providers automatically deduct / charge us when we use their services. But that is all that I know.
I've heard that 'being a filer of tax returns' means you're a person who provides the government with detailed information of the tax you've paid over the year.
I've only just found out (from Junaid Bhai's post) that filers actually are returned a percentage of the amount of tax they pay.
Would anyone please be able to explain what I'm missing?
I'm a pretty stand up guy and would actually like to do everything myself. I don't want to rely on other people to file my tax returns nor do I fancy being made a fool of just because I'm unaware of something.
P.S. This stuff should have been taught in school.
For what it's worth, I know that my parents pay taxes and are filers. They don't file their tax returns themselves, but know a guy who does it for them. However, they don't have much knowledge of this either.
I Googled this and did learn a few things, but it was all general stuff. So, now I turn to you guys hoping you might have something that might help me understand?
I know what NTN/STN numbers are. I know that GST is applicable to be paid on everything we buy from anywhere, and that all employees pay a specific income tax on their salaries. I also know that there are other taxes that companies / service providers automatically deduct / charge us when we use their services. But that is all that I know.
I've heard that 'being a filer of tax returns' means you're a person who provides the government with detailed information of the tax you've paid over the year.
I've only just found out (from Junaid Bhai's post) that filers actually are returned a percentage of the amount of tax they pay.
Would anyone please be able to explain what I'm missing?
I'm a pretty stand up guy and would actually like to do everything myself. I don't want to rely on other people to file my tax returns nor do I fancy being made a fool of just because I'm unaware of something.
P.S. This stuff should have been taught in school.