Tag - tax

Tackling off Shore Tax Evasion

AIR Debate – Tackling off Shore Tax Evasion   The issue of tax evasion is a never ending topic. The recent intergovernmental initiatives between India and US like Enhancing collaboration in tackling offshore tax evasion and increased cooperation in sharing of cross border tax information are [...]

[Economy] Vodafone Essar Case: Capital Gains Tax Meaning, Reasons, Timeline, Implications, explained

Before venturing into Vodafone Essar Court Case, Let’s start with the basics Some information may be technically incorrect / outdated. This article is for illustration and understanding purpose only and not for writing the actual answers in your exam. Two type of taxes. What is [...]

[Economy] Calculating Income Tax, Tax Exemption vs Tax Deduction, Rajiv Gandhi Equity Saving Scheme

What are the Income tax slabs in Budget 2012? How to Calculate income tax? 3% educational cess What is the difference between Tax exemption and tax deduction? #1: Tax exemption #2: tax deduction Union budget 2012: provisions of Tax Deduction and Tax Exemption [...]

[Economy] Infrastructure Debt Funds (IDF), Withholding Tax, EPFO Angle: Meaning, Concept, Explained

What is Infrastructure? Why is Infrastructure important? What is the problem with Infrastructure? What is problem with Banks? Mechanism of Infrastructure Debt Fund Attracting investors What is withholding Tax? First IDF Why EPFO interested in Infra-Debt Funds? What is Infrastructure? Things that are essential for [...]

[Economic Survey Ch1] Agriculture challanges, tax to GDP, steps by Government (part 3 of 3)

AGRO and Food Management Agriculture: Problem areas? #1: Land holding #2: Nutritional security #3: Supply Chain  Management Kelkar Tax to GDP ratio? Steps Taken by Government AGRO and Food Management Agro + allied industries Approx. number Share in India’s GDP 14% (2011-12) Share in total employment 58% (2001) The declining [...]

fiscal marksmanship

[Economic Survey Ch3] Fiscal Marksmanship, Tax Buoyancy, 14th Finance Commission

Overview What Is Fiscal Marksmanship? Why Poor Fiscal Marksmanship? Steps taken in Budget 2012-13 #3: GAAR (but delayed) #4: SERVICE TAX: negative approach Issues: Tax Buoyancy Issue: COLLECTION RATES Issue: Non-Tax Revenue Issue: SUBSIDIES Public debt 14th finance commission Background: why finance Commission? [...]

Budget Parts revenue vs Capital

[Budget] Interim Budget 2014 : Revenue Part: Non-Tax Receipts, Expenditure,Effective Revenue Deficit, Loans, Interest, Dividend classification explained

Prologue Raju Guide (DevAnand)’s budget Revenue incoming Non Tax Revenue Revenue Outgoing Raju Guide’s Capital Budget Capital incoming (receipt) Capital Outgoing (Expenditure) Govt.’s Annual financial statement Non-Tax Revenue receipts of Government [Table] NON-TAX REVENUE sources (Descending order) Revenue Expenditure [Table] REVENUE Expenditure (Descending [...]

Nokia tax on royalties for GSM handset

[Economy] Nokia Tax Row: Royalty Payment, Chennai Plant, Finland DTAA, Microsoft Takeover, UNICITRAL, TDS, Withholding Tax explained

Prologue Royalties: Drain of wealth #1: Quantitative restriction on royalties #2: Tax on Royalties paid Royalties: TDS (Tax deduction at source) What Happened in Nokia Royalty case? Timeline: Nokia Royalty Case Nokia’s excuses Nokia’s current legal-strategy UNCITRAL / Nokia BIPA JayaLalitha’s problem? Mock [...]

1 Witholding Tax TDS in Capital Gains tax

[Taxation] Advance Pricing Agreement, Arm’s Length, Vodafone Transfer Pricing, DTC, GAAR, Advance Tax ruling explained

Prologue Capital Gains Tax (CGT) CGT & Withholding norms (TDS) Vodafone CGT IT Act 1961: Clarification (2012) Direct Tax Code (DTC) DTC and Indirect transfers Direct taxes: DTC vs. Budget-2014 Tax Avoidance and GAAR What is GAAR? Shome Panel on GAAR What is [...]

Cover Economic Survey Service tax

[Industries] Service Sector- service tax, negative list, FDI limits, ICT, Tourism, Trade, R&D, Budget 2014 provisions

[Act 1] Services: theory and statistics Service Tax: theory Services kept out? Service tax: negative list (17 services) Budget 2014: Service Tax provisions Service sector vs GDP, Employment Service sector: FDI [Act 2] Tourism sector Budget 2014: tourism related Sacred Rivers E-Visa [Act [...]

Spicejet Predatory pricing

[Infrastructure] Aviation Sector: No Frills Airport, ATF-tax reforms, Predatory Pricing, Safety Rating

Prologue Economic Survey Cli1: Aviation basics Aviation Current Affairs 2014 A1: US downgrades India’s aviation safety rating A2: Predatory Pricing by Airlines A3: AirIndia joints star alliance A4: No Frills Airports A5: Need for ATF tax reforms Prologue GS3 Syllabus: Infrastructure: Energy, Ports, Roads, [...]