Income Tax Arrears?????

[cinco]

work out the taxes and file them
if you are owed and owe then you just pay the difference or they refund u the difference

[drunkenscorpion]

Man makin big money since 1994...I feelz so underpaid..

[pyung99]

anybody know how to handle independent contractor taxes? what is the policy on that in Trinidad?

[aprilaa]

What is the income tax rate for capital gain to a non resident indian? A non resident indian has sold a inherited Urban Non agriculture Land in india. What will be the tax rate on such capital gain in india? Is he liable to file income tax return in india if the purchaser has deducted TDS while making Payment?
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[sMASH]

bai, juss keep that money in a foreign account.

[Evoloution]

so if i work out my takes for 2010 and i have to pay then i am not obligated to file. if i dont file how can this come back to haunt me later on like 10..20..30 years down the line

[~Vēġó~]

^^^not obligated, no haunting.....dais if you live.....make sure however you file 8 years before you retire.....you are not culpable for periods prior to that.

I have to find out however, if one were to die, whether any benefits to be paid to family would be affected....

[cinco]

yes if you dont file taxes your family has to go tru sum mumbojumbo before you can get your benefits
and if you dont file for 2010 you will have to pay interest on any monies owing to the government
there is an amnesty on for the past 6 years (which is what you are liable for )

[uncle sam]

anybody got returns from May/June filing yet?

[Oleander]

Income Tax returns for the income year 2011 will be mailed next year.

[uncle sam]

I also filed for previous years.. would all come the same time?

[Oleander]

Income Tax returns for previous years can be printed from www.ird.gov.tt or you can get then at revenue offices.
Taxpayers would only receive a return for the current year (2011) in the mail.
It is always best to ensure that your information is current and accurate to ensure the receipt of your mails from IRD.

[uncle sam]

soooo... I'll have to go in their office for cheques that I filed for previous years

[Oleander]

soooo... I'll have to go in their office for cheques that I filed for previous years

Hoss... what you really talking about..?
If you're saying cheques.... Cheques are used to pay taxes owed at cashiers units.

An income earner needs to complete an income tax return to verify whether he has paid all taxes due, is still owning taxes or is due a refund for the overpayment of taxes.

IIT returns are filed on an annual basis.
For an emolument earner, you file when you receive your TD4 from your employer/s.
For a self-employed person, you file using your income statement

When you go into a Revenue Office, you can ask to speak with a Tax Officer who can give you any information needed.
All tax related assistance from Tax Officers should be FREE of charge as they are being paid to provide you with assistance by the government.

[uncle sam]

aight doe make me out so nah!... I was really talking about refunds due to over payments. I am due a few thousands in refunds and was expecting some kind of notification by mail about when to collect. (I already worked out the figures and sent in the forms) In the tax office, an officer looked at my forms, said they were ok and told me drop it in a box... so what now?

[Oleander]

Now you wait.
I'm guessing you filed during the amnesty.
Persons who filled previous year returns during the amnesty will have a bit of a wait.

[uncle sam]

Thanks alot! Saved me a trip to the office. Thought I would have gotten some extra $ for the Christmas but that isn't looking like it's going to happen. Yes I filed during the amnesty.

Regards!