DIRECT TAX LAWS

Description

A direct tax is a tax that a person or institution pays directly to the entity that set it. A particular taxpayer, for example, pays direct taxes to the nation for various intents, including

• Income tax,
• Real property tax,
• Personal property tax, or taxes on assets.

The government takes primary duty for the welfare of its nationals, as in matters of

• Health Care,
• Education,
• Employment,
• Infrastructure,
• Social security and
• Other development needs.

Direct tax laws are the prime source of income for the government. It helps aid the public welfare cost. In other words, the country is taking taxes from the public and using them as welfare costs.

However, no one wants to hand over his hard-earned money to the country to pay taxes. Thus, taxes are mandatory for the public to pay to the government. The nation may set tariffs on income, business profits or assets or add it to the cost of some goods, services, and transactions.

Indian tax legislative and judicial atmosphere is regularly developing, along with globalization and active adjustments. Now, more than ever, companies must have an ongoing system for adjusting to and abiding on top of these intricate changes.

The direct tax laws undergo vital modifications every year on the passing of the Annual Finance Act. Apart from the rules coming out every year through the Finance Act, there are circulars/reports by the CBDT/CBEC clarifying the scope of the provision.

We deliver quick updates on ITAT, AAR, High Court and Supreme Court rulings on income tax matters. Tax India Services will also be tracking effects in the Income Tax department, CBDT and Finance Ministry to keep tax experts abreast of the latest tax trends.

Tax India Services have experienced tax specialists who can assist you to be aware of tax regulations and efficiently manage compliances. And also address uncertain, direct tax in India.