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Am I Owed to Tax?

Am I Owed to Tax?

A tax is a compulsory financial charge or some other type of levy imposed upon a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures. A failure to pay, along with evasion of or resistance to taxation, is punishable by law.Let's get the quiz and find out yours that you are owed to tax or not.

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You May Get Result Of Am I Owed to Tax?

You are not owed to tax.
You are not owed to tax.
You are owed to tax.
Yes you are owed to tax.
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Quiz Questions And Answers

What is your age?

25-59
Over 60

Do you work at least 16 hours a week?

Yes
No
Not sure

You work at least 16 hours a week and you are disabled or aged 60 or above.

Yes I am
No I am not

You work:

As a worker or employee
Self employed
Mixture of two

If you are self employed do you make a profit or have clear plans to make one.

True
False

Do you keep your business records?

Yep!
Nope
Depends on my mood

There is no need to file your income tax return if:

TDS has been deducted and all taxes have been duly paid
Tax saving investments have reduced your tax to zero

You didn't submit proof so your employer cut tax,Now you can____

No longer claim the deduction if it does not figure in your form
Claim the deduction later but won't be eligible for tax refund

You invested in FDs but no TDS was deducted.Should you_____

Ignore reporting the income because bank didn't deduct TDS
Add the amount to your annual income and pay tax on it
Mention income in tax return but claim exemption for bank interest

TDS was deducted on interest from tax saving FDs.The tax payer______

Will not have to report the income because tax has already been paid
Has to add the income to your annual income and pay additional tax if necessary
ANSWERS

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