Summary view of all taxes in one file
This query is : Resolved
14 July 2015
please tell the summary view of all taxes in one file.
15 July 2015
https://www.caclubindia.com/share_files/statutory-compliances-due-date-interest-and-penalty-hand-book-67616.asp
16 July 2015
Madam I am telling about the summary view of all taxes including all the things
04 August 2015
good after noon. how r u madam
04 August 2015
Sirrrrrrrrrrrrrrr................
04 August 2015
madammmmmmmmm...........
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.
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.
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