Latest from Tax laws

Concept of Diminishing Marginal Utility

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The law of diminishing marginal utility is an economic principle that states that as a person consumes more and more of a particular good or service, the additional satisfaction or utility they...

Why Salaried Individuals Should File Their Income Tax Returns?

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ITR filing is important for salaried individuals because it allows them to: Claim tax refunds: By filing ITR, salaried individuals can claim any tax refunds that they may be entitled to. Thi...

Tax Distribution In India

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There have been many conflicts with regard that whether India is a federal state of not. But, when we see about the characteristics of federal state then we find that one of the characteristics...

Finance Commission Of India

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The Finance Commission of India is a constitutional body that has survived for over 50 years on Indian soil. Formed under Article 280 of the Indian Constitution, the Finance Commission of India...

A Brief Study on: Tax Laws in India

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The system of taxation is the backbone of a nation's economy which keeps revenue consistent, manages growth in the economy, and fuels its industrial activity. India's three-tier federal structu...

Principles Of Income And The Understanding Of Income Under The Head Of Income...

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Many of us dream of building our own house. But unfortunately, the property prices are so high that few people can afford to own a home without having to take out a loan. There are several bank...

Understanding Of Finance Commission And Its Constitution

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The Finance Commission of India is a constitutional body that has survived for over 50 years on Indian soil. Formed under Article 280 of the Indian Constitution, the Finance Commission of India...

Construction of Taxing Statutes and Evasion of Statutes

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Government of India is divided into three branches i.e. Legislature, Executive and Judiciary. It is the function of the legislature to make the laws and that of the executive, to enforce those ...

Double Tax Avoidance Agreement

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What exactly is DTAA?Double taxation is the practise of taxing the same income or subject-matter twice, for the same purpose, over the same time period, and in the same tax jurisdiction. When s...

Penalty For Non-Payment Of Custom

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Customs law is a duty or tax which is levied by the Central Government on import of goods into and export of goods from India. Quantum of Customs duty depends upon the provisions of Customs Ac...