The terms Fiscal Year and Financial Year are synonymous, i.e. meaning the same thing. They are a period that governments use for accounting and budget purposes. However, they are also the duration on which tax...

A PAN number is a number for anyone who pays income taxes or has financial transactions. TAN is required for any organization that deducts or collects tax at source. A TIN number is required by any dealer or...

Service Tax is a tax that is levied by the government on any services that are rendered. Value Added Tax (VAT) on the other hand is a tax that is levied by the government for goods that are purchased. However...

A service tax is a tax that is levied by the government for whom certain services are provided. A service charge is an unofficial charge levied by restaurants for services provided.