documents for KYC - Miraculous Taxes

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Digital payment mandatory for Property tax payment

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Invest in 2 houses & claim Capital Gain Exemption

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Finance & Taxation Related Terminology

June 27, 2022October 16, 2022CA Saba Naaz

KYC (Know Your Customer or Know Your Client)

Know Your Customer: Standards or guidelines used by investment companies or financial services companies to verify the identity, risk profile and financial position of their customers/ clients. It is a legal requirement as per Anti-Money Laundering Laws and can prevent financial fraud by tracking suspicious activities of customer/ client. In India, KYC guidelines are set […]

Login for Integrated Financial Management and Information System, Telangana October 9, 2024
Entrusted with the prudent management of Telangana's financial resources, the State Finance Department ensures meticulous maintenance of all financial transaction records. It also plays a crucial role in formulating and administering the state's fiscal policies.
Goods and Services Tax - GST Services July 23, 2024
GST is a unified tax system that replaced multiple indirect taxes levied by both the Central and State Governments. Under GST, both the Central and State Governments share the authority to levy and collect taxes on goods and services. This has led to greater harmonization and uniformity in the tax structure across States, promoting economic […]

What is Income-tax?

Category: General FAQs

It is a tax levied by the Government of India on the income of every person. The provisions governing the Income-tax are covered in the Income-tax Act, 1961.

What is the administrative framework of Income-tax?

Category: General FAQs

The revenue functions of the Government of India are managed by the Ministry of Finance. The Finance Ministry has entrusted the task of administration of direct taxes like Income-tax, Wealth tax, etc., to the Central Board of Direct Taxes (CBDT). The CBDT is a part of Department of Revenue in the Ministry of Finance.

CBDT provides essential inputs for policy framing and planning of direct taxes and also administers the direct tax laws through the Income-tax Department. Thus, Income-tax Law is administrated by the Income-tax Department under the control and supervision of the CBDT.

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What is Income-tax?

What is the administrative framework of Income-tax?

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Digital payment mandatory for Property tax payment

GST in India: An overview

The Pink Tax in India: Unveiling the Gender Pricing Bias