Excise taxes plays a very vital role in a country like India in that it is able to finance our overall national treasury as well as act as a check on the purchase of specific goods and services, hence, excise taxes has always been a very major part

Section 87A provides tax exemption to individual taxpayers whose taxable income falls under a specified limit. Under a new tax regime for the financial year 2023-24, residents earning up to ₹7 lakh under the current regime or ₹5 lakh under the old r

The Input tax credit is a provision in the goods or services tax system that allows businesses to reduce the tax they pay on goods they produce by the amount of tax they have already paid on input goods. In simple terms it is the credit that a busin

Reversion of Input Tax Credit ITC refers to situations where a business is required to repay the ITC that it had earlier claimed on its tax return. ITC is essentially the credit a company can claim for the tax paid on purchasing goods and services u

Income tax for women is same as for men in India Until the financial year 2023-24 there are no specific income tax exemptions or lower taxes based on gender alone. Tax rates are determined based on income under two tax systems. What is Income Tax

Value-added tax (VAT) has been a major reform in the structure of taxes in India and has been one of the most effective tools for the development of the country.  Value Added Tax is a tax levied by the Central Government on the sale of goods

Fringe Benefit Tax (FBT) in India was introduced through the Finance Act 2005. This tax was one of the milestones in the Indian tax system and was levied on 'perquisites' issued to employees by their employers, a very significant part of the employe

Taxation in India is the lifeline of any modern economy which helps the Indian government to provide vital resources to finance public services, infrastructure and social welfare programs.  However, the structure of India's tax system can ha

All of you must know very well that taxation is such a source for any country, due to which the overall structure of the country can be built, and India is no exception. Over the last few years, our country, India's taxation system has seen many

Corporate governance in India refers to the framework of rules, practices, and procedures by which companies are directed and controlled. These include balancing the interests of the company's stakeholders, including management, customers, suppliers