Income Tax

Political Funding in India: Overview of Rules and Recent FCRA Amendment

December 26, 2016

The funding of political parties is one of the major issues related to election finance reforms in India. Other major issues include political expenditures, disclosure norms, state funding of elections etc. The issue of political funding pertains to various laws including RoPA, Conduct of Election Rules, 1961; Companies...

Merits and Demerits of Direct Taxes

November 23, 2015

There are different types of direct taxes such as Income Tax, Corporate Tax, Inheritance Tax, Property Tax, Wealth Tax (abolished now in India), Capital Gains Tax etc. Merits The key merits of the direct taxes are as follows: Progressive Tax The direct taxes follow the principle of...

Direct Taxes in India

November 19, 2015

Direct tax generally means a tax paid directly to the government by the persons on whom it is imposed. Income Tax, Gift Tax, Wealth Tax and Property tax etc. are direct taxes. Income Tax There are two kinds of Income Taxes viz. Personal Income Tax and Corporation...

Parthasarathy Shome Panel Recommendations

March 4, 2013

The Parthasarathy Shome panel was formed by PM of India in 2012, for drawing up the final guidelines on GAAR and mainly to bring about tax clarity and address the concerns of foreign investors. Instead of only FIIs, the panel was asked also to look into issues...

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