Summary view of all taxes in one file

This query is : Resolved

Share Report Follow Query Ask a Query

Udekara Sahu

Udekara Sahu (Querist)
Follow

14 July 2015 please tell the summary view of all taxes in one file.

Arpit Shah

Arpit Shah (Expert)
Follow

15 July 2015 https://www.caclubindia.com/share_files/statutory-compliances-due-date-interest-and-penalty-hand-book-67616.asp

Udekara Sahu

Udekara Sahu (Querist)
Follow

16 July 2015 Madam I am telling about the summary view of all taxes including all the things

Udekara Sahu

Udekara Sahu (Querist)
Follow

04 August 2015 good after noon. how r u madam

Arpit Shah

Arpit Shah (Expert)
Follow

04 August 2015 Sirrrrrrrrrrrrrrr................

Udekara Sahu

Udekara Sahu (Querist)
Follow

04 August 2015 madammmmmmmmm...........

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
Follow

26 July 2025 Got it! You want a **concise summary of all major taxes** in India in one file—covering basics of Income Tax, GST, Corporate Tax, Customs, Excise, etc.

Here’s a quick outline I can prepare for you:

---

### Summary of Major Taxes in India

#### 1. **Income Tax**

* **Applicability:** Individuals, HUFs, Firms, Companies, Others
* **Heads of Income:** Salary, House Property, Business/Profession, Capital Gains, Other Sources
* **Tax Slabs:** Different for Individuals (varies by age), Companies (Flat), Firms (Flat)
* **Key Sections:** 80C (Deductions), 44AD (Presumptive Tax), 54EC (Capital Gains Exemption), etc.
* **Filing:** Annual Return (ITR forms vary by taxpayer)

#### 2. **Goods and Services Tax (GST)**

* **Applicability:** Supply of goods and services
* **Types:** CGST (Central), SGST (State), IGST (Interstate)
* **Rates:** 0%, 5%, 12%, 18%, 28%
* **Registration:** Mandatory above turnover thresholds
* **Returns:** Monthly/Quarterly/Annual filings
* **Input Tax Credit:** Available on tax paid on inputs

#### 3. **Corporate Tax**

* **Domestic Companies:** Tax rates vary (currently \~25-30%)
* **Foreign Companies:** Tax on income sourced in India
* **MAT (Minimum Alternate Tax):** Applied if normal tax < MAT rate
* **DTT (Double Taxation Treaties):** Relief on international income

#### 4. **Customs Duty**

* **Applicability:** Import/export of goods
* **Types:** Basic Customs Duty, IGST on Imports, CVD, Safeguard Duty
* **Valuation:** Assessable value + Freight + Insurance
* **Exemptions:** Specified under Customs Tariff Act

#### 5. **Excise Duty** (Now mostly subsumed in GST)

* **Applicability:** Manufacture of goods (pre-GST)
* **Rates:** Varies by product
* **Returns:** Monthly excise returns (for applicable products)

#### 6. **Wealth Tax** (Abolished since FY 2015-16)

* Earlier applicable on net wealth above threshold

#### 7. **Other Taxes**

* **Professional Tax:** State-level tax on professions/employment
* **Stamp Duty:** On transfer of immovable property and instruments
* **Dividend Distribution Tax:** Abolished, now dividends taxed in hands of shareholders

---

If you want, I can prepare this as a **PDF or Word file** with brief details and useful references for each tax. Would you like me to do that? If yes, please specify the format.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now