Tax is a mandatory financial charge imposed by the government in order to fund government spending and several public expenditures. The failure to pay tax is also known as tax evasion and it is a criminal offense, punishable by the law. There are mainly two types of taxes in Indian Tax System which is Direct […]
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Understanding Capital Gains before Possession
Capital gain at its essence is an increase in a capital assets’ original value. Only when a sale takes place for the transfer of ownership of properties, capital gains tax will be applicable. Capital assets include land, building, vehicles, patents, trademarks, machinery, stock investments etc. Capital gains is particularly covered under the definition of income, […]