Hi
I am James Antony, a Chartered Accountant (Certified Public Accountant) from Cochin, India. This blog is dedicated to the discussion on taxation laws in India.
India is known for its cumbersome, complicated and multiple enactments which can be deciphered and interpreted by an expert only. Even experts find it difficult too!
We have in India, there are two types of taxation, mainly. One is Direct Taxes and Indirect Taxes. There can be another classification - Federal taxes and State Taxes.
Direct Taxes
Main taxes coming under direct taxes are Income Tax, Wealth Tax (Federal Taxes) and Agricultural Income Tax ( State Tax)
Indirect Taxes
Under the indirect taxes, there comes Central Excise, Customs, Service Tax (Federal Taxes) and Value Added Tax (State tax).
There are a lot of other taxes also, but the incidence to them are small and hence I am not elaborating on it more.
(Any comments, querries and suggestions welcome)
James Antony FCA
