[Some of my questions may be relevant only in India]
Why is it so complicated? I hate these tax returns and stuff, I don't understand a thing. My employer doesn't give my complete salary because part of it goes as tax. I understand that but I have the following questions:
1. What are these tax returns (or tax return)? What if I don't do this?
2. I haven't done my tax return so far, I have been working for 2.5 years now. Will I be facing any problems in future? I do have a PAN card. And what the hell is this Form 16, Form 12(B)?
3. How do I save taxes? I have taken life insurance with "Max New York" but till today I don't understand how it can save my tax.
4. They say for a salary of upto rupees 1 Lakh/annum I don't have to pay any tax and after that it differs on how much I earn. Where are these figures officially published?
5. Is there any site specific to India where all these things are discussed? A forum wherein I can ask my stupid questions? Like how we have Javaranch and Sun Java
forums for Java & other technologies?
And any other suggestions are thankfully appreciated.