Definition: This IT concept refers to the digital process of calculating and paying income tax. It involves the use of software or online platforms to compute tax liabilities based on income details, deductions, and tax rates. The system also facilitates the online payment of the calculated tax, making the entire process efficient and convenient. Source: Investopedia Source reference: https://www.investopedia.com/terms/i/incometax.asp Additional information: The digital process of income tax calculation and payment has revolutionized the way individuals and businesses handle their tax obligations. It involves the use of IT tools and systems to automate the process of calculating income tax based on various factors such as income earned, deductions, exemptions, and applicable tax rates. The system also allows for the online submission of tax returns and payment of the calculated tax. This not only saves time and effort but also minimizes errors that are common in manual calculations. The system also provides a transparent and traceable method of tax payment, reducing instances of tax evasion and fraud. Example: Examples of this application include online tax software like TurboTax and H&R Block. These platforms allow users to input their financial details, automatically calculate the tax based on the provided information, and facilitate the payment of the tax directly to the tax authorities. Another example is the IRS's Free File program, which provides free online tax preparation and filing options to those who qualify. LOST view: OV-Digital Public Services Catalogue Identifier: http://data.europa.eu/dr8/egovera/IncomeTaxCalculationAndPaymentBusinessService EIRA traceability: eira:DigitalPublicBusinessService ABB name: egovera:IncomeTaxCalculationAndPaymentBusinessService EIRA concept: eira:ArchitectureBuildingBlock Last modification: 2023-07-27 dct:identifier: http://data.europa.eu/dr8/egovera/IncomeTaxCalculationAndPaymentBusinessService dct:title: Income Tax calculation and payment Digital Public Service