Indian Income Tax is a progressive tax. That is to say, as you earn more and more income, your income tax burden will go up. This is because Income Tax slabs are so structured that the rates are higher for the higher slabs. For the purpose of Indian Income Tax, the financial year is...
NEW DELHI, Nov. 18 (Xinhua) -- Indian income tax (IT) officials raided the residence of late chief minister J. Jayalalithaa's Poes Garden in Chennai city, the capital of southern state Tamil Nadu, officials said Saturday. The IT officials reached the residence at around 10:00 p.m. local...
TDS is applied on services that the government specifies, and the tax is deducted by using the rates that the government specifies for a period. The rate of deduction is based on the status of the entity that receives the payment or provides the service. Statuses include Individual, Hindu ...
Global Macro Hedge Funds: These funds profit from market fluctuations by leveraging macroeconomic factors like inflation rates and other financial conditions. Relative Value Hedge Funds: These funds capitalise on the price differences between related securities to generate higher returns. Activist Hedge Fund...
Tax rates are set by the top values; Founders are free in making decisions in relation to the company’s operation; Open type of private company is admitted if: Open type company (or several companies) owns at least a quarter of capital paid; ...
Twice the rate that is specified in the relevant provision of the Income Tax Act Twice the rate or rates that are in effect A rate of 5 percent Section 206CCA: TCS will be applied at a higher rate, as described here: Twice the rate that is specified in the relevant provision of th...
In the last 10 to 15 years, tax system in India has been subjected to significant reforms. The tax rates have been revised and tax laws have been modified. Since April 1, 2005 many State Governments in India have replaced the sales tax with VAT. ...
(April 2019-March 2020) witnessed a drastic fall in gross domestic product (GDP) growth rate to 4.5 percent, even as international bodies like the International Monetary Fund (IMF) and the World Bank repeatedly cut Indian economy's growth rates. This was described as the lowest GDP growth ...
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Currently, there is not much variation in the marginal income tax rates faced by people at the high end of the income distribution, even though there is a lot of variation in their incomes. This implies that the existing income tax design gives nearly the same social welfare weights to both...