Explore the impact of Finance Act 2022 on Health and Education Cess in business expenditure. Insights on legal provisions, deductibility under Section 37, and retrospective applicability.
Discover the significance of the Civil Procedure Code, 1908 for tax practitioners and how it impacts their legal practice.
In the following paragraphs, I have discussed some of the recent developments in direct tax laws. The discussion is kept simple enough, so that a layman can also understand the very technical topic of income tax. Recent Developments in Income Tax Faceless Assessments and appeals The government launched the faceless scheme on the 13th of […]
Direct taxes are taxes where the incidence and impact of taxation falls on the same entity. For instance, income tax, corporation tax, wealth tax and gift tax are direct taxes. Conversely, an indirect tax is not directly levied on the taxpayers. This tax is levied on goods/services and the person on which the burden falls and the person who pays the tax are different.
