Banking Law
Documents in Banking Law - Taxation
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2 documents found
Concept of Goods and Services Tax (GST)
Topic: Taxation
The Goods and Services Tax (GST) represents a comprehensive reform of India’s indirect taxation system, designed to replace multiple central and state taxes with a unified structure. Introduced through the Constitution (122nd) Amendment Act, 2017 and impl
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Heads of Income under the Income Tax Act, 1961
Topic: Taxation
The Income Tax Act, 1961 classifies taxable income into five distinct heads under Section 14, namely Salary, Income from House Property, Profits and Gains from Business or Profession, Capital Gains, and Income from Other Sources. This classification provi
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