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Income Tax
The Income Tax Act, 1961, is the primary legislation in India that governs the taxation of income for individuals, businesses, and other entities. It was enacted by the Parliament and came into force on April 1, 1962. Key Features of the Income Tax Act Recent Amendments The Income Tax Act, 1961, plays a crucial role in India’s financial…
Goods and Services Tax Act, 2017
Introduction The Goods and Services Tax (GST) is a significant reform in India’s tax system, aimed at streamlining and modernizing the indirect tax structure. Enacted on 1st July 2017, the GST replaced multiple complex and overlapping tax systems, including VAT, Service Tax, Excise Duty, and several other local taxes, with a unified tax regime. GST is…