Category: TAX

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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GAAR : A Strong Step Against Tax Avoidance

INTRODUCTION Initially introduced in India through a Direct Tax Code Bill in 2009, General Anti-Avoidance Rules (GAAR) are covered under the umbrella of the Income Tax Act, 1961 and have been effective in the nation since 1 April, 2017. Much like any other nation, India too was plagued with multiple instances of tax avoidance wherein … Continue reading GAAR : A Strong Step Against Tax Avoidance

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Concept of Tax: An Overview

The Directive Principles of State Policy, enshrined in Part IV of the Indian Constitution articulates that India is a welfare state. A welfare state is a form of government in which the state protects and promotes the economic and social well-being of the citizens, based upon the principles of equal opportunity, equitable distribution of wealth, … Continue reading Concept of Tax: An Overview

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Hybrid Instruments for Investments in Startups

INTRODUCTION The fast-paced growth of Start-ups in India has attracted support and aid from the government and also numerous industrial sectors. With the idea of promoting growth of the Indian economy, entrepreneurs have received several incentives and benefits to establish start-ups. The essence for their growth and success lies in the ‘financing and funding’, which … Continue reading Hybrid Instruments for Investments in Startups

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Practical Analysis of Decisions Taken In 43rd GST Council Meeting

After a long hiatus of nearly 8 months, the GST Council meeting was convened on 28th May 2021. On the agenda were important expected items such as waiver of tax on various medicines, medical equipment, and health services. Several states had proposed a complete tax waiver on COVID vaccines, oxygen cylinders, oxygen concentrators, oximeters, etc. … Continue reading Practical Analysis of Decisions Taken In 43rd GST Council Meeting

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Validity of Digital Signatures in India

Introduction Signatures play a significant role in the field of law as well as in daily transactions. It is a symbolic representation of a person and signifies its intent to it. A signature verifies the legitimacy of a particular transaction. Digitization has transformed the business landscape. In online transactions, the handwriting signatures are prone to … Continue reading Validity of Digital Signatures in India

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Legal and Ethical Issues Faced By the Start-Ups in India

Introduction Start-ups are small growing companies founded by one or more entrepreneurs, they are at their initial stage of operation with a limited amount of capital and limited experience. The government of India has taken several initiatives to encourage the growth of start-ups in order to promote entrepreneurship and employment by providing easier IPR facilitation, … Continue reading Legal and Ethical Issues Faced By the Start-Ups in India

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Clubbing Of Tax Evasion under GST: An Innovative Way to Trigger Arrest Provisions

The Bombay High Court vide its judgment dated 08.02.2021, has raised a new question instead of delivering an answer to the correct and firm interpretation of the legislation. In the case of Yogesh Jagdish Kanodia v. The State of Maharashtra & Anr., the primary issue before the Hon’ble High Court was to deal with the … Continue reading Clubbing Of Tax Evasion under GST: An Innovative Way to Trigger Arrest Provisions

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