Value added tax (VAT)
For the past few years the industries are coming across the term VAT on and often in the newspaper reports and finance ministry is very...
For the past few years the industries are coming across the term VAT on and often in the newspaper reports and finance ministry is very...
Relevant Components For VAT. The relevant components are: Sale price or purchase price. Turnover of sale or purchase, including taxable turnover. Output...
Service Tax is essentially an indirect tax. Individuals are required to pay the Service Tax only once in a quarter. Companies can pay Service Tax...
HOW IS SERVICE TAX CALCULATED? This is a tax recognized by the Relevant Tax Authority Charged on services rendered to any given customer. Calculation:- ...
Taxation System In India India has a well-developed tax structure with clearly demarcated authority between Central and State Governments and local bodies. Central Government levies...
Taxes on Corporate Income Companies residents in India are taxed on their worldwide income arising from all sources in accordance with the provisions of the...
Capital Gains Tax Tax is payable on capital gains on sale of assets. Long-term Capital Gains Tax is charged if • Capital assets...
Personal Income tax Personal income tax is levied by Central Government and is administered by Central Board of Direct taxes under Ministry of Finance in...
Rates of Withholding Tax Current rates for withholding tax for payment to non-residents are: (i) Interest 20% (ii) Dividends Dividends paid by domestic companies: Nil...
Tax Incentives Government of India provides tax incentives for:- • Corporate profit • Accelerated depreciation allowance • Deductibility of certain expenses subject to certain conditions....