The income tax slab rates for 2017-18 & 2018-19 are as follows – upto rs 25 lakhs – nil tax, 5% tax for income above 25l but below. Read the post to know about the taxation or the tax structure in india get more details about the types of direct and indirect taxes levied towards us. Income tax structure post liberalization: the wave of tax reforms that started across the world in the second half of 1980's found its way into india as part of its policy of. Details about tax structure of india find the slab and deductable tax ratio under central government, state government tax structure of india. The agricultural income tax can be imposed by the government of a respective state major changes in tax structure in india since the year 1991, the indian tax system has undergone some major changes. Tax structure in india, learn national income and tax structure for details visit what. Unacademy user leave a comment comment tax structure in india 1 characteristics of a good tax structure the tax system should be fair or equitable.
State transport department , government of uttarakhand, india srno description of vehicles: annual rate of tax. Tax structure in india 1 welcome you all tax structure in india by to debashish paikray regd no= 1361333072 2 what is tax taxes represent the amount of money we pay to the government at predefined rates and periodicity taxes are the basic source of r. Features of tax structure in india tax revenues forms about 16% (2011-12) of our total national income however, it amounted to only 67% in 1950-51 and 11% in 1960-61. Edit this page read in another language income tax in india it has been suggested that wealth tax act, 1957 be merged into this article proposed since april 2017. Page 14 doing business in india corporate tax rates india has a federal level income tax structure - governed by the provisions of income tax act, 1961.
Indirect tax is a tax which is not directly levied on the income of an individual but is levied on goods and services there are various types of indirect taxes in india. Tax structure in india - free download as powerpoint presentation (ppt), pdf file (pdf), text file (txt) or view presentation slides online tax structure in india.
Income tax in india it has been suggested that wealth tax act, 1957 be merged into this article proposed since april 2017 this article has multiple. Taxes and death is the only certainty take a look at this interesting article and you would realize, why the statement is so appropriate we have just r.
What are the problems of the tax structure and administration in india update cancel answer wiki 2 answers priyanka peeramsetty problems of tax structure. This paper seeks to provide a bird eye’s view of the taxation structure in india the topics broadly covered here are direct taxes (income taxes) and indirect taxes (at central government level and state government level. Tax structure is divided in two parts - direct and indirect taxes direct and indirect taxes:- direct tax:- direct taxes covers the taxes that cannot be transferred or shifted to another person, for instance, the income tax an individual pays direc.
Here are full details of complete tax structure in india for a common man the article talks about taxes applied on salary, investments, properties & others. The government of india has recently taken initiatives to reform and simplify the language and structure of the direct tax laws into a single legislation – the direct taxes code (dtc) after public consultation the direct taxes code 2010 was placed before the indian parliament on 30 august 2010, when passed dtc will replace the income tax. Direct tax it includes income tax, wealth tax and gift ta income taxes income tax in india was introduced in 1860, but was discontinued in 1873 and reintroduced in 1886 it is levied on the income of individuals, or entities like firm, companies, huf, etc. Cost breakup of petrol and diesel fuel in india know how are prices fixed with computation of crude oil, refinery cost, excise duty, vat tax breakup. For llps, the applicable tax rate is flat 30% and if their turnover exceeds inr 1 cr then an additional 12% of surcharge will be added to it also with that, a 2% of education. Modifying the tax structure can simultaneously impact your net take home director, h&r block india) 0 comments read how to structure your salary to save tax.