What is Tax to GDP Ratio in India?
When one needs to assess how well a country’s government uses its economic resources through taxes, one of the key metrics used is the tax to GDP ratio. As the…
A Beginner’s Guide to Understanding Income Tax in India
When you first deal with taxes yourself, it’s one of those moments that makes you realise, “Wow, I’m a real grown up now!” But all that excitement starts to slowly…
Types of GST in India | Explained
What is GST? Due to the various types of indirect taxes levied on consumers and businesses, many felt the need for a unified tax system. It was the government led…
Difference Between Tax Exemption and Tax Deduction
The Income Tax Act of 1961 specifies various tax exemptions and deductions available to taxpayers in India. These exemptions and deductions can help reduce your overall tax liability, but they…
Common Mistakes to Avoid While Filing Income Tax Returns
Albert Einstein once said, “The hardest thing to understand is the income tax.” While he was only joking, there is some truth in the statement. Every year, people face many…
Tax Concepts in India – Know Meaning, Types of Taxation & More
Taxes play an essential role in the functioning of a country, and it is the responsibility of every citizen to pay their fair share of taxes. By paying taxes, you…