Introduction Tax may be described as a levy made by a nation’s government upon its citizens in order to fund the government’s operations or to provide services to the citizens of that country. It is neither a taxpayer’s voluntary payment …
GST is the landmark reform in indirect taxation in India. It is for the first time that the concept of matching invoices has been introduced. Since most of the return filing process has been made computerized and the scope of …
Introduction: Sensu lato, the government levy taxes on citizens to raise revenue for the purpose of performing the undertaken responsibilities of fostering economic growth and enhancing the efficacy in improving the living standards of the people. Thus, taxes are the …
Today, the concept of the Previous Year and Assessment Year is discussed only with reference to Income Tax Law. For calculation of tax in any Financial Year on the income of a person, the Previous Year and Assessment Year play …
Introduction In today’s world, the needs of an individual are constantly and rapidly increasing. For a better standard of life, better facilities are also required. A human’s needs are never fully satisfied and an individual’s salary is never fully sufficient. …
“It was only for the good of his subjects that he collected taxes from them, just as the Sun draws moisture from the Earth to give it back a thousand fold” – Kalidas in Raghuvansh eulogising KING DALIP. Introduction The …
INTRODUCTION As per the Income Tax Act, 1961, each person who earns an income in India should pay income tax on such earning. That is the reason the income that you create in a fiscal year from all potential sources …
INTRODUCTION The Central Government of India, presented the 122nd Constitution Amendment Bill, 2014 (‘Bill’) on the presentation of Goods and Services Tax (‘GST’) before the Lok Sabha on December 19, 2014. This Bill replaces a previous bill presented in 2011 …
“ONE NATION, ONE TAX, ONE MARKET” GST stands for goods and services tax. Benefits of GST has given a major boost to the ‘Make in India’. GST is the type of tax under which all imported goods will be charged …
Income tax is a tax on income the assessee earns and receives in India. Every individual is liable to pay income tax on the Income exceeding Rs.2,50,000/- Per annum. The Income can be received from different sources. Of these, one …
