Govt introduces one-time tax for those with turnover up to Rs 1 cr
Excise and taxation inspectors (ETIs) would not be allowed to check commercial premises of traders in at least 71 towns of Punjab after February 13 as the state excise and taxation department is launching a new scheme under which traders would have an option to pay value added tax (VAT) once a year in proportion to their annual income. In lieu of this tax amount, the government would provide traders cashless treatment up to Rs 50,000, life and accidental insurance worth Rs 2 lakh and Rs 5 lakh insurance in case of damage to property due to fire.
tax 'N' accounts people
Tarun Kumar Gupta
Life style Post