Finance Budget Proposes Tax on Non Compute Fee, Digital Tax on Foreign Internet Companies
The Income Tax laws in India are very complex. In the last couple of years, passive incomes from freelancing jobs have gained momentum.
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The Income Tax laws in India are very complex. In the last couple of years, passive incomes from freelancing jobs have gained momentum.
Now there will be a tough time for the Income-tax defaulters as there are no chances for them to flee by changing there address.
Goods and Services Tax (GST) database management system might be used by the Indian government to track the records of income tax filings or tax evaders.
After the implementation of complex Goods and Services Tax (GST) Regime in India, now the Narendra Modi Government is working on bringing changes in respect of the direct tax.
In a recent move to eradicate Illegal financial transactions happening across the nation, the government took a strict decision to deactivate a staggering 11.44 lakh permanent account numbers (PAN) on 27th July. The deactivation of PAN cards were done in the light of multiple Pan cards allotted to single person.
In a step to take a dig over the false build-up of PAN number for illegal purposes, the government authority either deleted or blocked more than one lakh permanent account number (PAN). The government has taken this step to investigate fake identities while the action is considered to be very bold enough to target the […]
GST is an acronym of Goods and Services Tax, it was introduced on 1st July across the country. New indirect tax regime, replaces several complex taxes such as Value Added Tax (VAT), Service, Octroi, Excise levied by the Central as well as State Government. Within the few days of implementation of the new indirect tax regime, the government is getting the good response from it. Initially, the Government, business entities, and traders have to face some issues with the newly introduced of Goods and Services Tax Regime (GST) but for the long purpose, it will definitely beneficial for the country as well as the Government.
The government of India (GOI) has now made Aadhar Card mandatory to open any bank account. As per the recent orders given by the Central Government, every individual will have to show his/her Aadhar Card number to open any new bank account as well as for any transaction of over Rs 50,000.
The demonetization drive which was launched last year on 8th November drew a lot of attention from the globe and praised the man behind it, Mr. Narendra Modi, the prime minister of India and the person who courageously shredded away high value 500 and 1000 rupees currency notes in order to curb black money. The black money was said to be stashed in cash with tax evaders from a long time and the time came the government instantly brought the value of those currency notes to zero.