Tax planning is adopt Tax planning a widely adopted practice by individuals and businesses around the world. Taxation planning strategies vary depending on the specific tax laws and regulations of each country. Some countries are known for having more favorable tax regimes and incentives for tax planning, while others may have stricter regulations and… Read More »
Indirect and Direct Tax Indirect and Direct tax is a type of tax that is imposed on the income or wealth of an individual or entity. It is called “direct” because the tax is levied directly on the person or entity that is liable to pay it. The tax liability cannot be shifted to… Read More »
Taxation Compliance Taxation compliance is for several reasons: Legal Obligation: Paying taxes and complying with tax laws is a legal requirement in most jurisdictions. Failure to meet tax obligations can result in penalties, fines, or even legal consequences. Complying with tax laws ensures individuals and businesses remain in good standing with tax authorities and… Read More »
Pink tax Pink tax is a term used to describe the extra amount that women are charged for certain products or services that are marketed specifically to them, compared to similar products marketed to men. This can include items such as clothing, personal care products, and healthcare services. Pink tax is not a separate… Read More »
GST and Income Tax GST and Income Tax ,GST (Goods and Services Tax) is a taxation system implement in India, which levies a value-added tax on the supply of goods and services. It is a comprehensive tax structure that encompasses various stages of the supply chain, ensuring that taxes are collect at each stage.… Read More »
Filing income tax returns Filing income tax returns is mandatory for several reasons: Legal Requirement The law mandates individuals and entities to file income tax returns within the specified due dates. Failure to comply with this requirement may result in penalties and legal consequences. Income Assessment Filing tax return allows the tax authorities to… Read More »
Paying tax for salt There is no tax imposed on salt in India. Salt is considered an essential commodity and is exempt from any form of taxation, including indirect taxes like the Goods and Services Tax (GST). This exemption is in place to ensure the availability and affordability of salt for all individuals in the… Read More »
Is corporate tax a direct or an indirect tax Direct taxes are taxes that are levied on individuals or entities based on their income, profits, or assets. Corporate tax is a direct tax that is imposed on the profits earned by corporations and other business entities. The tax is calculated based on the net income… Read More »