Most of the taxes of Ancient India were highly productive. The admixture of direct taxes with indirect Taxes secured elasticity in the tax system, although more emphasis was laid on direct tax. The tax-structure was a broad based one...
Taxation
Finance Act, 2020 amended provisions relating to TCS with effect from 1st October, 2020 to provide that seller of goods shall collect tax @ 0.1 per cent (0.075% up to 31.03.2021) if the receipt of sale consideration from a...
For individuals being a resident (other than not ordinarily resident) having total income upto Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest etc.), and agricultural income upto Rs.5 thousand.
This rate shall apply in relation to income-tax for the assessment year or, as the case may be, the financial year commencing on the 1st day of April, 2019
The reason behind bringing GST is in
removing the cascading effects i.e., tax on tax of both Central and
State taxes by allowing setting-off of taxes throughout the value
chain, right from the original producer and service provider's level
up to the consumer...
Amendment of rule 34 under the WBST Rules, 1995 Sales Tax (Settlement of Dispute) Act, 1999 Sales Tax (Settlement of Dispute) Rules, 1999 Value Added Tax Act Value Added Tax Rules Central Sales Tax Act Profession Tax Act Profession...
In State of U.P. and Another v. Kamla Palace, (2000) 1 SCC 557, this Court, while considering a fiscal statute in relation to Article 14 of the Constitution, has stated as under: โ11. Article 14 does not prohibit reasonable...
The Federal Court had to consider the distinction between the duty of excise and a tax on sale in Province of Madras vs. B. Paidanna and Sons, 1942 F. C. R. 90. It is there observed as follows: โPlainly,...
Core Practice Tax Liability Tax Control Liability Under Tax Legislation The Legal Foundation of Combatting Tax Abuse Legal Regulation of Corporate Taxation Legal Regulation of Indirect Taxation Legal Regulation of Taxes on Income and Property of Individuals Legal Regulation...
Section – 275A : Contravention of order made under sub-section (3) of section 132 Section – 275B : Failure to comply with the provisions of clause (iib) of sub-section (1) of section 132 Section – 276 : Removal, concealment,...
Income Tax Act 1961 Section – 190 : Deduction at source and advance payment Section – 191 : Direct payment Section – 192 : Salary Section – 192A : Payment of accumulated balance due to an employee Section –...
Section – 246 : Appealable orders Section – 246A : Appealable orders before Commissioner (Appeals) Section – 247 : Appeal by partner Section – 248 : Appeal by a person denying liability to deduct tax in certain cases Section...