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Taxation System

 

  India has a fairly developed tax regime with a clearly demarcated authority between Central Government, State Governments and Local bodies. Central Government levies   taxes on income (except tax on agricultural income, which the State Governments can levy), customs duty, central excise and service tax. 
  Many State Governments have substituted Sales Tax with Valued Added Tax (VAT). The VAT ( or Sales tax in some states where VAT has not been implemented), State   Excise, Stamp duty, Land Revenue, and Professional Tax are levied by State Governments. Local State bodies are given the power to levy tax on properties, water    supply, drainage/sewerage, etc. 

 The taxation system in India has undergone many reforms over the last 15 years where tax rates have been stabilized and simpler tax laws implemented for compliance  ease of tax payment and enforcement. 

 Central Government Taxes

 Direct Taxes

 


 


Tax on Corporate Income


 


Capital Tax Gains


 


Personal Income Tax


 


Tax Incentives


 


Double Taxation Avoidance Treaty

Indirect Taxes


 


Excise Duty


 


Customs Duty


 


Service Tax


 


Securities Transaction Tax

 For detailed information click this useful links:


 


Income Tax Department or Taxmann


 


Central Board of Excise and Customs


 


Central Board of Excise and Customs relating to Service Tax

State Government Taxes


 


Value Added Tax


 


Entry Tax


 


Stamp Duty


 


Professional Tax