Judiciary and Counsel Details Bench Members: Representation: Case Background The case revolves around the purchase of immovable properties by the assessee, where discrepancies arose between the actual sale consideration and the value determined by the Stamp Valuation Authority (SVA). The Assessing Officer (AO) added the entire value determined by the SVA under section 56(2)(x) of…
The Goods and Services Tax (GST) is one of the most significant tax reforms in India, introduced to create a unified taxation system across the country. Despite its complexity, understanding GST can help businesses and individuals comply with regulations and take advantage of its benefits. This guide simplifies the essential aspects of GST in India….
1. Introduction to Tax Planning What is Tax Planning? Tax planning involves analyzing your financial situation to maximize savings and ensure compliance with tax laws. It is a legal way to reduce tax liability by taking advantage of deductions, credits, and exemptions. The Importance of Tax Planning for Businesses and Individuals Proper tax planning helps…
1.The Evolution of Taxation Systems: A Historical Perspective How Taxation Began: A Brief History Taxation, as a concept, dates back to ancient civilizations. From Mesopotamia to the Mauryan Empire in India, rulers imposed taxes to fund wars, build infrastructure, and sustain their economies. Over time, taxation evolved to include diverse categories such as income, property,…
Introduction to Taxation is one of those topics that everyone hears about but not everyone fully understands. Whether you’re earning an income, running a business, or buying products, you’re bound to encounter taxes. In simple terms, taxation is the system through which a government collects money from individuals and businesses to fund its operations and…
