We have recently received an email which makes a laugh of uncertainty in Indian Tax system and of Retrospective amendments made in Existing Tax provisions by Union Budget 2012-13 to reverse Judgment delivered in favour of Assessee by various courts. Text of the email is as follows which will for sure bring a smile on your face :-

1. Any transaction in West Indies is now taxable in India since the word ‘Indies’ substantially involves an Indian nexus

2. A retrospective amendment is also proposed to bring to tax the income earned by ‘Indiana Jones’ movies

3. All income earned by persons with first / last name of Indian origin, irrespective of residence, is fully taxable in India

4. Transfer of last name of… Indian origin to a western name would be transfer of capital asset taxable in India

5. Any income earned from the sale of chicken tikka masala, dosa or biryani would now be deemed to be taxable in India

6. Use of number ‘0’ which originated in India is subject to royalty taxation

7. Income of facebook.com taxable in India in ratio Indian users to total users

8. Fundamental basis for any decision issued by the Supreme Court in favor of a taxpayer would be deemed to be retrospectively amended without any specific requirement for a specific law to this effect to be passed

9. Any income earned from the practice, training or any other manner whatsover pertaining to yoga will now be taxable in India

10. Borrowing sugar, tea leaves or any other perishable item from a non-related person would now be subject to service tax

11. Rajnikant to be taxed with retrospective effect

The above amendments should be able to bridge the current fiscal deficit to a great extent!!!

1. Any transaction in West Indies is now taxable in India since the word ‘Indies’ substantially involves an Indian nexus
2. A retrospective amendment is also proposed to bring to tax the income earned by ‘Indiana Jones’ movies
3. All income earned by persons with first / last name of Indian origin, irrespective of residence, is fully taxable in India
4. Transfer of last name of… Indian origin to a western name would be transfer of capital asset taxable in India
5. Any income earned from the sale of chicken tikka masala, dosa or biryani would now be deemed to be taxable in India
6. Use of number ‘0’ which originated in India is subject to royalty taxation
7. Income of facebook.com taxable in India in ratio Indian users to total users
8. Fundamental basis for any decision issued by the Supreme Court in favor of a taxpayer would be deemed to be retrospectively amended without any specific requirement for a specific law to this effect to be passed
9. Any income earned from the practice, training or any other manner whatsover pertaining to yoga will now be taxable in India
10. Borrowing sugar, tea leaves or any other perishable item from a non-related person would now be subject to service tax
11. Rajnikant to be taxed with retrospective effect

The above amendments should be able to bridge the current fiscal deficit to a great extent!!!

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Category : Income Tax (27235)
Type : Articles (16733)
Tags : Budget (1956)

0 responses to “Tax Provision in India in 2025”

  1. Brenden says:

    was absolutely out of frustration on Budget day…

  2. Brenden says:

    Hey.. i actually wrote this!! cant believe it got forwarded so much…

  3. hemant says:

    A Good comment on Retrospective amendment in Direct Taxes

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