List Of All Tax In India Pdf To Jpg

List of all tax in india pdf to jpg

In this article I will provide you brief information about these 25 taxes in India.

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Tax is imposing financial charges on individual or company by central government or state government. There has been a steady rise in the net Direct Tax collections in India over the years, which is healthy signal.

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Direct taxes, which are imposed by the Government of India, are:. Income tax, this tax is mostly known to everyone. Every individual whose total income exceeds taxable limit has to pay income tax based on prevailing rates applicable time to time.

Capital Gain tax as name suggests it is tax on gain in capital. The capital gain is the difference between the money received from selling the asset and the price paid for it. Capital gain tax is categorized into short-term gains and long-term gains. The Long-term Capital Gains Tax is charged if the capital assets are kept for more than certain period 1 year in case of share and 3 years in case of property.

Short-term Capital Gains Tax is applicable if these assets are held for less than the above-mentioned period.

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If you hold same share for 1 year or above it is considered as long term capital gain and you need not to pay capital gain tax. A lot of people do not declare their profit and avoid paying capital gain tax, as government can only tax those profits, which have been declared by people. That means if you buy or sell equity shares, derivative instruments, equity oriented Mutual Funds this tax is applicable.

This tax is added to the price of security during the transaction itself, hence you cannot avoid save it. As this tax amount is very low people do not notice it much. All this benefit is taxable under perquisite Tax. Online Income Tax Calculator. Corporate Taxes are annual taxes payable on the income of a corporate operating in India.

25 Types of Taxes in India

For the purpose of taxation companies in India are broadly classified into domestic companies and foreign companies. Sales tax charged on the sales of movable goods. Sales can be broadly classified in three categories.

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State Government can impose sales tax only on sale within the State. State from which movement of goods commences gets revenue. Most of the paid services you take you have to pay service tax on those services.

This tax is called service tax.

What is the Meaning of Indirect Taxes?

Over the past few years, service tax been expanded to cover new services. Few of the major service which comes under vicinity of service tax are telephone, tour operator, architect, interior decorator, advertising, beauty parlor, health center, banking and financial service, event management, maintenance service, consultancy service.

Current rate of interest on service tax is This tax is passed on to us by service provider. The Sales Tax is the most important source of revenue of the state governments; every state has their respective Sales Tax Act. The tax rates are also different for respective states.

List of all tax in india pdf to jpg

Tax imposed by Central government on sale of goods is called as Sales tax same is called as Value added tax by state government. VAT is additional to the price of goods and passed on to us as buyer end user. VAT rates vary based on nature of item and state. Custom Duty is a type of indirect tax charged on goods imported into India.

One has to pay this duty , on goods that are imported from a foreign country into India. This duty is often payable at the port of entry like the airport. This duty rate varies based on nature of items. Octroi is tax applicable on goods entering in to municipality or any other jurisdiction for use, consumption or sale.

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In simple terms one can call it as Entry Tax. An excise or excise duty is a type of tax charged on goods produced within the country. This is opposite to custom duty which is charged on bringing goods from outside of country. Dumping is said to occur when the goods are exported by a country to another country at a price lower than its normal value.

List of all tax in india pdf to jpg

This is an unfair trade practice which can have a distortive effect on international trade. In order to rectify this situation Central Govt.

If you are earning professional you need to pay professional tax.

List of all tax in india pdf to jpg

Professional tax is imposed by respective Municipal Corporations. Most of the States in India charge this tax. This tax is paid by every employee working in Private organizations.

List of all tax in india pdf to jpg

The tax is deducted by the Employer every month and remitted to the Municipal Corporation and it is mandatory like income tax. Top Ways to Save Income Tax. Dividend amount to investor is tax free. Municipal Corporation in every city imposed tax in terms of property tax. Owner of every property has to pay this tax.

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This tax rate varies in every city. If you decide to purchase property than in addition to cost paid to seller. You must consider additional cost to transfer that property on your name. That cost include registration fees, stamp duty and transfer tax.

This is required for preparing legal document of property. In simple sense this tax is imposed on the handing over of the title of property ownership by one person to another. This amount varies from property to property based on cost.

The education cess is mainly applicable on Income tax, excise duty and service tax. Surcharge is an extra tax or fees that added to your existing tax calculation. This tax is applied on tax amount. This tax is called as gift tax. Gift tax is not applicable if Gift is received from relatives. Wealth tax is a direct tax, which is charged on the net wealth of the assessee. Wealth tax is chargeable in respect of Net wealth corresponding to Valuation date.

So if you have more money, assets you are liable to pay tax. Note:- Wealth tax is abolished by government in budget At some of places you need to pay tax in order to use infrastructure road, bridge etc. This tax is called as toll tax. This tax amount is very small amount but, to be paid for maintenance work and good up keeping. Swacch Bharat Cess is recently being imposed by the government of India. This tax is applicable on all taxable services from 15thNovemeber, The effective rate of Swachh Bharat Cess is 0.

After this tax we need to pay In budget finance minister has introduced new tax namely Krishi Kalyan Cess.

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This cess is introduced in order to extend welfare to the farmers. The effective rate of Krishi Kalyan Cess is 0. This tax will be imposed on all taxable services. Krishi Kalyan Cess would come in force with effect from June, 1, In budget finance minister has introduced a new tax on the dividend amount. New Infrastructure cess on car and utility vehicle imposed recently in budget The tax rate is variable 5.

All items entering in the state boundaries ordered via E-commerce are under this tax boundary. LTCG tax on the stock market and mutual fund investment in reintroduced in budget As per new rule any person who sells shares after April 1, , will pay a long-term capital gains tax at the rate of 10 percent on gains of more than Rs 1 lakh.

For such shares, the cost of acquisition will be price as on Jan. If a person who has held shares for more than one year sells them before March 31, , there will be no long-term capital gains tax.

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No changes are made in short-term capital gain tax. Tax Saving Instrument Infographic. Hi, I am Shitanshu. I am crazy about Finance and like to research on financial matters. If you like my efforts kindly subscribe to this blog and also let your friends know about this website by sharing.

At present very few articles such as skins and leather are subject to export duty. The main purpose of this duty is to restrict exports of certain goods. That might be a good way to controll population.