Presumptive taxation
Presumptive taxation involves the use of indirect methods to calculate tax liability, which differ from the usual rules based on …
Read MoreTax Deducted at Source (TDS)
TDS is a tax administration mechanism. TDS requires the income earners to pay the tax at the spot of income …
Read MoreInput tax credit
Input tax credit means that when a manufacturer pays the tax on his output, he can deduct the tax he …
Read MoreCost-cascading effect of a tax
Cost cascading effect refers to the burden of tax on tax. The cost cascading effect happens when one tax is …
Read MorePeak Customs Duty
The Peak customs duty is the highest general rate applicable to majority of imports. It is estimated with reference to …
Read MoreState sales tax
Tax on the sale of a commodity is called sales tax and it was imposed by the state which is …
Read MoreGoods and Services Tax
GST is a unified tax that merges the important indirect taxes under a single tax structure. Around 12 taxes including …
Read MorePersonal Income Tax
Income-tax (or often called personal income tax) is a tax of Central Government which is collected by taxing income earned …
Read MoreMinimum Alternative Tax
The Minimum Alternative Tax (MAT) is imposed on book profit of companies who record nil or negligible profit to pay …
Read MoreCapital gains tax
Capital gains tax is the tax imposed on the increased value of an asset. For example, if shares are brought …
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