Provision for income tax refers to the line item in the profit and loss statement. Income tax is a broad term and could mean current taxes (taxes actually payable to Government), Tax...
Filing of income tax means submitting your annual income status for that particular year based on which the government will decide whether to levy tax on your income if your income falls under the...
It is what the federal or state government charges you on your income. (the money you earn) It is a percentage of your income.It mean the tax youse has to pay on youse income.