Andhra Pradesh Government Abolishes Garbage Tax
The Andhra Pradesh government has abolished the garbage tax, which was introduced by the YSRCP to fund waste collection services. Households and commercial entities were…
Taxation
Supreme Court Rules on Telecom Tax Credits
The Supreme Court clarified that telecom companies can claim tax credits for mobile towers and Pre-Fabricated Buildings (PFBs), defining them as “inputs” or “capital goods.”…
Property Tax Growth Trends in India
Delhi, Rajasthan, and Tamil Nadu have emerged as leaders in property tax growth from FY19-FY24, recording annual increases of 26%, 23%, and 23% respectively. Property…
Income Tax Campaign for Foreign Assets
The Income Tax Department’s campaign targets high-value foreign asset holders to enhance compliance for AY 2024-25. Spearheaded by the CBDT, it emphasizes accurate reporting in…
Windfall Tax in India: Article, Story & Mindmap
In recent developments, the Indian government has abolished the windfall tax on domestically produced crude oil, effective September 18, 2024. Initial…
54th GST Council Meeting
Summary: The 54th GST Council meeting, led by Finance Minister Nirmala Sitharaman, focused on revising GST rates for essential goods and services, such as cancer…
LTCG Tax
The long-term capital gains (LTCG) tax system in India underwent significant changes in the Union Budget 2024-2025, notably eliminating the indexation advantage. Indexation adjusts an…
Angel Tax
Summary: The Department for Promotion of Industry and Internal Trade (DPIIT) has proposed eliminating the “angel tax” to facilitate funding for startups and make them…
Laffer Curve: How This Simple Economic Theory Could Transform Tax Policies
The Laffer Curve, a concept popularized by economist Arthur Laffer, illustrates the relationship between tax rates and government revenue, suggesting …
