Introduction Goods and Services Tax (GST) is an Indian tax system. It is effective in India since July 1, 2017. GST replaces various indirect taxes such as service tax, excise duty, VAT, etc. and merge them into one. It also aims to simplify the tax system for businesses and consumers. How it works? GST in […]
The Pink Tax in India: Unveiling the Gender Pricing Bias
In a world where gender equality has become a priority, one would not expect bias while shopping at retail stores. But “Yes”, it’s true… The “Pink Tax” phenomenon is a harsh reality of our society. This phenomenon is not only unfair but also discriminatory against women. This article aims to focus on the controversial issue […]
Invest in 2 houses & claim Capital Gain Exemption
Sale of a residential house is taxable under the Income Tax Act, 1961. When you sell a house, you are required to pay capital gain tax on the profit received from the sale. The Income Tax Act,1961 provides relief from tax payment in such a case under Section 54 , subject to fulfilment of certain […]
Direct Tax : Not that typical
Direct Tax, also known as Income Tax Many times, I have seen students asking about the Direct Tax (DT) preparation [Direct tax, also known as Income tax], i.e., how to study, what to study, etc. and it seems that students sometimes, find this subject typical and tough. First of all, let me clear that Direct […]