Income Tax

December 26, 2016

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

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…

November 23, 2015

Merits and Demerits of Direct Taxes

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…

November 19, 2015

Direct Taxes in India

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 TaxThere are two kinds of Income Taxes viz.…

March 4, 2013

Parthasarathy Shome Panel Recommendations

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…