Taxation Law

Taxation Law

Taxation law in India covers all the policies, rules regulations governing the taxation process in the country. These include taxes  such as income tax,  sales tax,  tax on foreign company, withholding tax, tax residency certificate, excise registration tax, service tax registration, employee tax, tax on foreign company, corporate tax, import duty, transfer pricing etc. Most of these taxes are levied by the government at the Centre and the States; however a few taxes such as sales tax are levied by the local authorities such as the Municipalities also. Taxes are also imposed on imports from foreign countries on goods.

India has a combination of a federal as well as a decentralized system of levying taxes. The Central Government of India, the Government of each individual state and the local authorities are empowered to impose various taxes.

Direct Tax is a federal levy, includes taxes on the income of individuals and corporate taxes. Indirect Tax is a federal as well as state levy, which is levied on transactions relating goods & services.

The Central taxes, which are levied by the Central Government include:

  • Income Tax
  • Custom Duty
  • Excise Duty
  • Service Tax
  • Central Sales Tax

The State taxes, which are levied by the respective State Governments include:

  • Value Added Tax
  • Entry Tax
  • Octroi
  • Other Local Taxes

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