Provisions for Taxation of Partnership Firms Partnership firm is subjected to taxation under the Income Tax Act,1961. It is the umbrella Act for all the matters relating to income tax and empowers the Central Board of Direct Taxes (CBDT) to formulate rules (The Income Tax Rules,1962) for implementing the provisions of the Act. The CBDT Read More →


What are the Different Types of Taxes Taxes may be categorized into different as their nature as direct taxes, indirect taxes, progressive taxes, regressive taxes etc. Direct Tax A direct tax is the one, which is paid by the person or entity on whom it is legally imposed. It is collected from the persons or Read More →

corporate tax

Company whether Indian or foreign is liable to taxation, under the Income Tax Act,1961. Corporation tax is a tax which is levied on the incomes of registered companies and corporations. A Company means:- Any Indian company, or Any corporate body, incorporated by or under the laws of a country outside India, or Any institution, association Read More →