India and Japan have signed a Protocol for amending the existing convention for avoidance of double taxation and prevention of fiscal evasion with respect to income taxes. The...
India and South Korea have inked a new memorandum of understanding (MoU) on suspension of collection of taxes during pendency of mutual agreement procedure. This MoU will relieve...
Chief Economic Advisor Dr Arvind Subramanian led Committee has recommended standard rate for Goods and Services Tax (GST) at 17 to 18 per cent. The Committee has submitted...
Union Cabinet has approved signing and ratification of a protocol between India and Japan for amending the Double Taxation Avoidance Convention (DTAC). It aims at avoidance of double...
Indirect taxes can be either origin based or destination based. Origin based tax (also known as production tax) is levied where goods or services are produced. Destination based...
The Central Board of Direct Taxes (CBDT) has entered into 11 more unilateral Advance Pricing Agreements (APAs) with Indian subsidiaries of foreign companies operating in various segments of...
There are several parameters on which the direct and indirect taxes can be compared. Firstly, direct taxes are progressive and they help to reduce inequalities but indirect taxes...
A government budget is a financial plan that outlines the projected revenues and expenditures for a specific period. It serves as a critical tool for policymakers to allocate...
Etymologically, the term budget is related to Latin bulga , which refers to a ‘leather bag. The term comes from a Gaulish source connected to the Irish bolg, which means...
A progressive tax is imposed to raise the tax rate effectively more than the rate at which it was applied. It is characterised by a more than proportional...
