Category: TAX

Is It Time To Impose Tax On Agricultural Income?

Introduction The exemption of tax on agricultural income dates back to the colonial era when the British, acknowledging the critical role of agriculture in India, chose to exempt agricultural income from taxation. The Constitution of India, under “Entry 46 of the State List (List II)[1]”, “empowers state governments to levy and collect taxes on agricultural … Continue reading Is It Time To Impose Tax On Agricultural Income?

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Taxation of Cryptocurrency : Navigating the uncharted waters

Introduction Cryptocurrencies have developed in the form of a revolutionary force in the financial sector across the globe, and this has taken place through the introduction of decentralized digital assets far and beyond the traditional banking infrastructure. However, the popularity and widespread acceptance of this financial innovation globally, have made governments grapple while dealing with … Continue reading Taxation of Cryptocurrency : Navigating the uncharted waters

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Black Money Blues: How Hidden Wealth Hurts India’s Tax Revenue

Introduction For a long period, progress has been shadowed by tax evasion, which involves intentionally hiding income or presenting false financial statements to avoid paying taxes. It does not simply include avoiding the payment of financial penalties; it also includes activities such as diverting funds from economic and social welfare projects. Such illegal activity includes … Continue reading Black Money Blues: How Hidden Wealth Hurts India’s Tax Revenue

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Utility Of Double Tax Avoidance Agreement

Introduction A Double Tax Avoidance Agreement (DTAA) is a tax treaty or agreement between two or more countries that prevents income received in both countries from being taxed twice. If a company in country A (origin country) invests in country B (source country) for building, the question is whether it is liable to pay tax … Continue reading Utility Of Double Tax Avoidance Agreement

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Asstt. IT v. Saurashtra Kutch Stock Exchange Ltd. Case Analysis – [2008] 173 Taxman 322 (SC)

Statement Of Problem The present research focuses on critically analyzing the case of Asstt. IT v. Saurashtra Kutch Stock Exchange Ltd of Taxation-I The research in this furtherance has analyzed the issues which were discussed in the instant case and what could be the proximate solution to such issues. Therefore, the researchers have tried to … Continue reading Asstt. IT v. Saurashtra Kutch Stock Exchange Ltd. Case Analysis – [2008] 173 Taxman 322 (SC)

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A Peephole Towards Fallacies In Dispute Resolution Mechanism In Taxation Disputes – A Cry For Arbitration

Introduction India was ranked 63rd out of 190 nations in the World Bank’s Report on the Ease of Doing Business (EODB), 2020. On three of the 11 indicators used to determine a country’s overall ranking in the EODB report, it still has a score below 100. These are paying taxes, registering real estate, and enforcing … Continue reading A Peephole Towards Fallacies In Dispute Resolution Mechanism In Taxation Disputes – A Cry For Arbitration

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Analysis of new Inserted Tax Deducted at Source (TDS) provision (Section194R)

Introduction To ease the burden of the assesses (general public who are taxpayers) to pay the tax on due date at the end of the financial year the Central Board of Direct Taxes (CBDT) deducts the tax at source on the due income before being credited to the general public. In this case, deduction is … Continue reading Analysis of new Inserted Tax Deducted at Source (TDS) provision (Section194R)

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Is Tax Theft ? – Unearthing The Logic Behind Tax Fraud

INTRODUCTION : THE GENESIS OF TAXATION IN INDIA The germination of the system of taxation can be referenced far back to the ancient times as traced under the writings of Manusmriti and Arthasastra. According to the Sastras, Manu, the ancient scholar and lawgiver, said that it is proper for the king to impose taxes. His … Continue reading Is Tax Theft ? – Unearthing The Logic Behind Tax Fraud

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Impact of Double taxation Avoidance Agreement in the Indian commerce sector. Part 2

Introduction The Double Taxation Avoidance Agreement facilitates elimination of double taxation. This agreement clearly caters the need of the NRI taxpayer communities who have grown exponentially in number in the last few years. With growth of the community the need of interpretation of DTAA along with Income Tax Act or 1961 grew immensely. With Introduction … Continue reading Impact of Double taxation Avoidance Agreement in the Indian commerce sector. Part 2

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An Introduction to Double taxation Avoidance Agreement.

Introduction With the exponential growth of trade and commerce in the globalised era, the spectrum of taxes associated with it has also expanded with it. However, the question remains, which country will be the recipient of taxes paid by the corporation- the origin country or the source country? As a solution to this, the treaty … Continue reading An Introduction to Double taxation Avoidance Agreement.

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