Category: Taxation

Taxation of Virtual Assets
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INTRODUCTION A virtual asset is a digitalized representation of an item that has a proper value in a particular environment, for example, Bitcoin, Litecoin, or Dogecoin. In virtual assets, the medium of exchange or the property can be traded, transferred, or invested digitally. Over a decade virtual currencies are also considered virtual assets, virtual currenciesRead More

Income Tax Deduction from salaries: Government & Private Employees
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INTRODUCTION Since before the arrival of the first colonists, income taxes have been a common idea. It is regarded as a tax that a citizen pays to the state, based on their income and the profits of their businesses. The state uses the money it receives from taxes for a variety of things, such asRead More

Determining Residential status of an Assessee
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This article is written by Kalyani Gupta, a Master’s in Law student from Amity University, Noida. This article discusses meaning and rules for determining the residential status of an assessee. INTRODUCTION An ‘Assessee’ implies to an individual on whom tax, or any additional sum of cash is imposed under the Income tax and he isRead More

Issues Involved with Taxpayer Rights
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This is authored by Janaki Nair a 3rd year B. A. LLB student in Symbiosis Law School Pune. The following article deals with the system of taxation in India and how the taxpayers navigate around the same topic. It also deals with the problems that taxpayers may face while filing tax returns to the Government. Read More

Consequences and Evidence of Tax Evasion
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This article is written by Aanchal Rawat, a 2nd year student of R N Patel Ipcowala School of Law and Justice. INTRODUCTION “Only 5.78 Crore individual taxpayers filed income tax return for the financial year 2018-19 till Feb 2020 and even in that only 1.46 Crore, individual taxpayers filed returns declaring income above ₹5, 00,000.”Read More

Importance of Taxation
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This article has been written by Khan Mahenoor pursuing law from Rizvi Law college. The pictorial image has been taken from Forbes What is Tax?  A Tax is a compulsory financial charge or some other type of levy Imposed  upon  a person by a state in order to fund government spending and various public expenditures. Read More

Exemption from Income Tax: Agriculture
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This article has been written by Navneet Chandra and gives basic information about whether to pay the taxes for there agricultural income or not. Agricultural Income under Income Tax Agriculture as we know is the basic yet the most beneficial practice in India. Here farming is considered as the most common occupation, especially in theRead More

Taxation for NGO’s
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This article is written by Bhavna Arul, a fourth-year law student from Symbiosis Law School. INTRODUCTION Non-Government Organizations are formed with the intention of solving socio-economic issues in a country.  They can be in the form of a Trust, Company (Section 8 company) or a Society. These organizations often get a tax exemption as theRead More