This article has been written by Pulak Mohanty, a 2nd year BA.LLB Student from Lloyd Law College. Introduction: Tax fraud refers to the illegal act of intentionally evading taxes or providing false information to tax authorities with the purpose of reducing tax liability. This essay explores the causes and consequences of tax fraud, highlighting its impact on…
A builder-buyer agreement is a document which specifies the modalities, conditions and clauses between a builder and a homebuyer. The builder-buyer agreement contains clauses referring to the property in question, delivery information, and terms relating to default and late project delivery, among other things. At one point, delayed real estate projects affected the Indian real…
A certificate does not make you certified. Attitude, performance, commitment to self and team – these and a certificate make you certified. INTRODUCTION After a housing project has been completed in accordance with a building plan that has been approved, it is granted a completion certificate, which is a legal document. Any housing project that…
Property is not merely a piece of land or some asset. Property is a relation of a person, juristic person or entity with on object upon which such person holds a right over it. Property has a very wide meaning in its real sense. It is not only includes financial wealth and other tangible things…
MEANING OF GST The goods and services tax (GST) is a value -added tax (VAT) paid by consumers and passed to the government by the seller. It is imposed on goods and services that are sold for domestic consumption. GST is an indirect tax that is applicable all over India. It was passed in the…
Introduction “A tax is a mandatory fee/ financial charge levied by any government on an individual or an organization to collect revenue for public works providing the best facilities and infrastructure”. If one fails to pay the taxes or refuse to contribute towards it, will invite serious implications under law. It is very…
Introduction Income is taxable under the head ‘house property’ if it arises from a property consisting of any building or lands appurtenant thereto. For computation of income under this head, a house property is classified into three categories – let-out, self-occupied and deemed let-out house property. The income from a house property is computed on…
When it comes to taxation, it isn’t enough to only know how much tax you pay on your income. Taxes in India are levied either by the state governments, central government, or local government organizations. As per the central government’s taxation mandate, all the taxes are divided into two groups – direct taxes and indirect…
Tax is levied compulsorily by the government on its citizens to defray the expenses of the government. A tax, by definition, is a payment in return for which no direct and specific quid pro quo is rendered to the taxpayer. From the definition of a tax, we can pinpoint some of the important characteristics of…
Article 27: Freedom as to payment of taxes for promotion of any particular religion – No person shall be compelled to pay any taxes, the proceeds of which are specifically appropriated in payment of expenses for the promotion or maintenance of any particular religion or religious denomination. This article emphasizes the secular person of the…
