Taxation is a fundamental aspect of any economy, serving as a primary source of revenue for governments. Two broad categories of taxes exist: direct taxes and indirect taxes. These classifications are based on the … READ FULL STORY
Direct tax meaning Direct tax, a common method to generate revenue for authorities across the world, can be understood by knowing its two integral aspects. First, direct tax is the tax, which taxpayers should … READ FULL STORY
What is indirect tax? A tax passed on to individuals after purchasing goods or services is called an indirect tax. These taxes are imposed on the manufacturer or supplier, who then pass on to … READ FULL STORY
Recently, the GST Council slashed the Goods and Services Tax (GST) rate on under-construction homes. With this, home buyers are trying to assess the impact of the rate cut. We look at some of … READ FULL STORY
The rental income from a real estate investment, is taxed under the head ‘Income from House property’ under the income tax laws, which is a direct tax law of the country. Properties that are … READ FULL STORY
The regime of indirect taxation in the real estate industry, started as recently as 2004, when service tax was applied to works contracts of commercial properties. It was then introduced to residential properties and … READ FULL STORY
The Goods and Services Tax (GST) is, beyond doubt, the most revolutionary tax-related reform to be seen in India in several decades. It will eliminate the conflicting and cascading taxation structures, which have confounded … READ FULL STORY
Delhi’s deputy chief minister and minister of finance, Manish Sisodia, on February 9, 2017, said that keeping land and real estate outside the purview of the Goods and Services Tax (GST) and a higher … READ FULL STORY
With the government finalising the tax structure for the goods and services tax (GST), home buyers now seem concerned that the GST may increase the price of under-construction flats, which are expected to come … READ FULL STORY
The Goods and Services Tax (GST), is a comprehensive indirect tax on the sale, manufacture and consumption of different kinds of goods and services throughout India, with all other central and state taxes intended … READ FULL STORY
