Posts Tagged: tax reforms

Startups

What is Angel Tax? Is the Government's Greed killing Indian Startups?

Perhaps you've come across the term "angel investors" in business news, seminars, or even in books. However, like many of us, you may have forgotten the details. That's where I come in to guide you through this fantastic, information-packed article. So, let's take a moment to brush up on our understanding of angel investing and dive deep into an essential component - angel tax.

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Understanding Tax Havens

The story goes that the Swiss bankers had invented secret banks to protect the assets of Jews from the Nazis. But in reality, they were invented to protect the bankers from prosecution by other states. This was among the first instances of ‘safe havens’ for people with special monetary needs.

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Budget 2020: Which Tax Regime Should You Opt For?

The budget simply welcomed a series of thumbs up and relatively higher criticisms. It's high time you understand the new tax regime and what it has in store for you. Now just picture the Avengers in a different scenario. In the climax, the powerful infinity stones are held by Thanos.

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Why should we move towards a Simpler Tax System?

Albert Einstein once said, “The hardest thing to understand in the world is the Income Tax”. Why is that, even the smartest brains are unable to comprehend the taxes?

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Wealth Tax

Wealth tax is a form of direct tax, evolved after the commencement of the Wealth Tax Act, 1957 enacted for imposing the tax on the net wealth of an assessee. It is a tax on an individual’s wealth rather than on his income.

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Tax Incentives to Startups in India

The introduction of the Goods and Services Tax (GST), the Insolvency and Bankruptcy Code, 2016 and the General Anti Avoidance Rule are instrumental in bringing more business under the vigilance of government and preclude tax evasion and corruption. The OECD data of 2017 cuts India’s growth forecast to 7%, according the secretary general Angel Gurria reports that India tops in tax reforms amongst the G- 20 countries, further calling the reforms to be historic and effective.

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Minimum Alternative Tax

Companies often have tendency to escape the taxes, to get more and more profit, and in order to escape it, they often become “zero tax companies” i.e. those companies which incur high profit but gets exempted from paying taxes by using undue advantages of various deductions, incentives tools provided to them for their benefits.

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Shortcomings of Goods and Service Tax

GST (Goods and Services Tax) is a kind of indirect tax and which is included in the sale price of goods and services. GST came into effect in India on 1st July 2017. A good go through various stages which starts from a manufacturer and then finally reaches a seller and in all such stages, GST is added.

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What are the advantages of GST?

The Goods and Services Tax abbreviated as GST is a major tax reform which has consolidated the various manners in which the indirect tax was levied by Central and State tax departments and brought it under one umbrella. For instance, it has replaced the Service tax law, VAT, Entry tax, Luxury tax, Purchase tax, etc. It is a comprehensive tax on manufacture, sale and consumption of goods and services.

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Critical Analysis of GST Slabs in India

Throughout the world, over 160 countries have adopted the Goods and Services Tax while France remains the parent country. India adopted this new tax system on 1st July 2017 with the One Hundred and First Amendment of the Constitution of India, replacing the various cascading taxes imposed by the central and state governments. Inspired by Canadian model, India adopted a dual-GST structure which is seen as the biggest tax reforms in the history of India.

Posts Tagged: tax reforms

What is Angel Tax? Is the Government's Greed killing Indian Startups?

Understanding Tax Havens

Budget 2020: Which Tax Regime Should You Opt For?

Why should we move towards a Simpler Tax System?

Wealth Tax

Tax Incentives to Startups in India

Minimum Alternative Tax

Shortcomings of Goods and Service Tax

What are the advantages of GST?

Critical Analysis of GST Slabs in India

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