Simplified Laws Guide to Taxation and Legal Concern

Agricultural Income is exempt from income tax as per Section 10 of Income Tax Act, 1961. However, for those people who have non-agricultural income (such as business or salary, etc.) the agricultural income is included for the purpose of computing the tax. Suppose, by including agricultural income, the aggregate income …

Kolkata to New York, IIT to Harvard, McKinsey to Goldman Sachs, Insider Trading to Insider, from where to where! Steep rise and a deep fall of an Individual. The Rise: Rajat Kumar Gupta, 65 years, born in Kolkata, went on to do engineering in IIT, Delhi and then MBA from …

The Constitution of India allocates the power of levy of taxes between the Central Government and the State Governments. Article 246 of The Constitution of India, 1949 reads as under – “Subject matter of laws made by Parliament and by the Legislatures of States (1) Notwithstanding anything in clauses ( 2 …