Taxation India

Taxation and Indian Taxes

Taxation and Indian Taxes Most people get confused with the taxation and tax rules implemented in India. However, this confusion arises because of the fact that different taxes and tax rates prevail. Taxation rules are prospective and retrospective in certain times. Here this confusion can be settled with a bit of understanding the rules of taxes and taxation in India. There are two tax typ... >> More

The Goods and Services Tax Bill (GST)

The most talked about hot line today – The Goods and Services Tax Bill (GST) Amendment Amidst our busy schedules we do find time to read the newspapers or listen to the television news. Of late it’s all about GST and its amendment and what it is and where it is and who it is meant to benefit. Well, this GST Amendment Bill is supposed to be the largest tax reform bill after the year ... >> More

Top 5 Tax Saving Investment Options

There are many ways to reduce the tax burden which the salaried class of the Indian economy especially face. The new budget in 2015 has provided the chance to save more with the help of certain investments. The general methods of saving tax are to keep separate tax files for all family members and make gifts to them. The transactions should be such that clubbing provisions are not attracted. So... >> More

E-filling Tax Returns New Rules

Corporate companies were already required to file their returns electronically. However, In accordance with recent amendments, notifications and circulars of the government – any individual or Hindu Undivided Family must file their income tax returns electronically if they have total assessable income in excess of 5 lakhs or any refund has been claimed. Changes to Rule-12: In accordance ... >> More

PPF and Income Tax Benefit

Public provident fund is a very popular means investing for a majority of salaried people. Investment options are multiple. However, there are few investments which provide a balance between risk and return as desired by most investors. Public Provident Funds or PPFs as they are popularly called have always been counted as a safe way to avail tax free interest income. Eligibility: Hindu Undivi... >> More

Tax Benefits on Home Loans

Many people have an acceptable risk to return ratio which guides their investments. However, there are a number of difficulties which one faces when trying to determine which investments to select. Some of the basic concerns which the average investor feels are whether the investment will be tax efficient and also return will be positive compared to loss in purchasing power. Many people do not ... >> More

VAT and Sales Tax What You Should Know?

Value added tax when it had come into place was supposed to be the answer to the issue which sales tax had created. One tax - to replace the many state sales taxes. However, the very issue it was supposed to solve became its irony. Today V.A.T. rates across states are different. Further differences arise due to product classifications, exemptions and concessions like composition schemes. This law ... >> More

Significance of Goods and Service Tax Bills

Need: Indian indirect tax scene is today mired in a deluge of taxes. Hence, the way forward meant that there had to be one umbrella under which all these taxes could be absorbed such that the end user is not burdened by unnecessary administrative hassles. This would also translate into reduction unnecessary administrative costs being borne by the government. This bill has been a hot topic of cont... >> More

What is Wealth Tax in India?

The society of any country is based on a sound taxation system which oils the entire administrative machinery. The current Indian tax system has its roots in the British raj as is our constitution. The country has broadly two types of taxes – Direct and Indirect tax. While everyone knows that excise and service tax are indirect levies on our income and Income tax a direct levy, wealth tax is... >> More

Why to Take Help From Taxation Consultant Specialist?

In the never ending challenges of our times merely earning is not enough since there are other requisites which society has from us. One critical and significant aspect is paying taxes on our income. The government needs money to run the economy along with many essential services. The money for that comes from a number of sources of which taxes form a major part. There are many types of direct ... >> More

10 Taxes That You Should Know About

When the average man earns money he does not really earn purchasing power worth his take home salary. It is a well known fact that everyone has to file their returns and pay income taxes. Income tax is a direct tax and hence its impact is clearly discernible. There are many taxes which pay to the government even after paying all that income tax each year.   Some of the taxes which an indivi... >> More

Taxation in India

Taxes in India are imposed by the Indian Government and the State Government. Some minor taxes can also be imposed by the Municipality (Local Authorities). Like every country Taxation in India plays a vital role. The budget and the revenue will inevitably go for a toss if there isn’t any balance between Rate of Tax and the Incentives withdrawn. In recent day emphasis were made on decreasing ... >> More

PAN and its significance

What is PAN? PAN also known as Permanent Account Number is an identification for all Indian citizen who pays income tax. The pan number consists of 10 alphanumeric characters. PAN card is issued under Indian Income Tax Act 1961 by the Indian Income Tax Department. In a PAN card the PAN number appears as ADCKJ5163G. The PAN card can also be used as a photo identification proof, as there is a pas... >> More

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