Is TDS different from TCS? Which transactions attract TCS?
The term TDS stands for Tax Deduction at Source and TCS stands for Tax Collection at Source. In technical terms, these are mere obligations rather than taxes which are deducted at the time of payment. It is hard comparing and differentiating between TDS and TCS but this article will help you understand both in a […]
Gender bias in ‘Money Matters’
Not long back, I had scant interest in Finance & Taxation issues. And I had noticed that in most families, the onus to deal with finance and consequential taxes, rests with the men. Even if the women in the family are earning, they willy nilly abdicate this responsibility in favour of their husbands! Do women […]
What you must know before filing income tax return in India
Filing an ITR is mandatory for every Indian citizen. We all know that. While the same might seem like a tough task to do, the government has an array of forms available to make ITR filing as simple as possible for common Indian citizen. To begin with, the process can now be done online which […]
Hire a Chartered Accountant who is your friend and guide
As a business owner, you have a myriad of tasks on hand. Worrying about profit margins, increasing the line of products, finding innovative marketing ideas, handling customer complaints – there is certainly a lot on your platter. While these aspects of business are nevertheless often taken care of, there is one important, yet often neglected […]
Budget or ‘Bulga’ – Journey started in 1773
Until last year I was quite baffled about why so many persons used to be expectantly excited on the budget day. Children were deprived of their undisputed right of watching their TV programmes on that day. I used to feel very irritated. What was in a Budget? Now, when I am in a Law School, […]
The language bar in taxation
While talking of broadening tax base, we always talk of getting in more and more people in the tax net. Seems logical and convincing, but have we ever thought of educating those probable tax payers, right from the school. While discussing with my classmates and Professors, I was surprised to discover that though about fifty […]
A succinct and riveting story about ‘Taxation’
There is no doubt that today ‘Tax’ is the buzzword. It is aptly said by an American scholar that ‘the democracy will cease to exist when you take away from those who are willing to work and give to those who would not’. So in a country like India, there has to be a crucial […]
कोष मूलो दंडः
चाणक्य आज भी सार्थक हैI उन्हें आज भी हम एक महान अर्थशास्त्री, कूटनीतिज्ञ एवं राजनैतिक पंडित के रूप में जानते हैI कर प्रणाली पर भी उनके विचार मौजूदा भारतीय अर्थव्यवस्था पर बहुत ही सटीक हैI आयकर विभाग के प्रतीक चिन्ह ( Logo) मे एक सूत्र लिखा है – कोष मूलो दंडःI इस सूत्र को महान […]
“I like to pay taxes. With them, I buy civilization.”
“I like to pay taxes. With them, I buy civilization.” Justice Oliver Wendell Holmes Jr. Taxation is an essential financial charge levied by any governmental body to be able to fund administrative activities. Dating back to Circa 3000 BC in Ancient Egypt and subsequently the Persian Empire back in 500 BC, taxation has served as […]
Playing Lottery is a vice but paying GST on tickets is not!
Goods & Services Tax (GST) is a headline grabber in India. What recently made it more ‘intaxicating’ was its ‘blending’ with Lottery. And the issue was – Some of the States which run the lottery business to raise funds for welfare schemes wanted to pay lower GST tax rate than the one to be paid […]