India and China have signed protocol to amend Double Taxation Avoidance Agreement (DTAA) for the avoidance of double taxation and for prevention of fiscal evasion with respect to...
Sanjay Kumar Mishra, a 1984-batch Indian Revenue Service (IRS) officer of the Income Tax cadre, has been appointed as the principal special director in the central probe agency...
The Government of India (GoI) has recently constituted a 7-member ministerial panel headed by Bihar Deputy Chief Minister Sushil Modi to examine modalities for revenue mobilisation in case...
The Central Board of Indirect Taxes and Customs (CBIC) has launched a mobile app ‘GST Verify’ to protect interest of consumers. It is an android app to verify...
S Ramesh has been appointed as the new chairman of Central Board of Indirect taxes and Customs (CBIC). He will succeed Vanaja N. Sarna on July 1. The...
The term ‘property’ stands for tangible real estate owned by a person. It includes houses, office places, rented out properties etc. Taxes are the primary source of income...
Capital gain refers to the gain or profit from the sale of property or an investment. Investment may be in shares, equity, gold, real estate or valuables like paintings {a prelims...
Section 2 (1A) of the Income Tax Act defines agricultural income as rent/revenue from land, income derived from this land through agriculture and income derived from buildings on...
Dutch Sandwich refers to a form of tax avoidance used by companies that have their operations across the world to minimise the amount of taxes that they pay...
Inverted duty structure is a situation where import duty on finished goods is low compared to the import duty on raw materials that are used in the production...
Capital gain refers to the gain or profit from the sale of property or an investment. Investment may be in shares, equity, gold, real estate or valuables like paintings. Capital...
