The taxation scene in India is undergoing tremendous changes currently. There are a lot of new tax structures and different tax schemes that are introduced in the Budget in March 2005.
The Value Added Tax(VAT) regime is a new concept in India that has been adopted by 22 States together, making uniform rate of taxation a reality. It was chosen by different trade associations for explaining the intricacies of VAT laws.
The Income Tax law is also undergoing a lot of change. A new kind of tax under the Income Tax laws known as Fringe Benefit Tax has been proposed along with transaction tax which is radically going to change the outlook of the tax laws in India. These taxes have to be paid even if the person otherwise is not taxable as having loss or income less than minimum liable to tax. Many of the exemptions are being withdrawn or amended.
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PUBLICATIONS- INCOME TAX FOR NRI
- Scheme of Income Taxation in India
- Income Exempt from Tax
- Computation of Gross Total Income
- Deductions from Gross Total Income and Tax Rebates
- Special Provisions Applicable to Non-residents
- Taxation of investment income of Non-residents
- Taxation of income of Non-residents from transfer of Technology – Tax treatment of Royalty and fees for technical Services
- Taxation of Income from Remuneration of Non-residents/Non-citizens
- Tax Treatment of Income from Business of Non-residents
- Special Provisions Applicable to Non-resident Indians
- India’s Double Tax Avoidance Agreements
- Tax Procedures
- Other Direct Taxes