Taxation law in India refers to the body of laws and regulations that govern the taxation of income and wealth in the country. The tax system in India is administered by the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC), which are both agencies of the Ministry of Finance.
In India, taxes are levied on both individuals and businesses. Some of the key types of taxes in India include:
Income tax: a tax on the income earned by individuals and businesses.
Corporate tax: a tax on the profits earned by companies.
Value-added tax (VAT): a tax on the sale of goods and services.
Goods and Services Tax (GST): a tax on the supply of goods and services.
Taxation law in India is a complex area of law that is constantly evolving. If you are an individual or a business with tax-related issues in India, it is important to seek the advice of a lawyer who has experience in this area of law and is familiar with the relevant laws and regulations. A lawyer can help you understand your tax obligations and represent you in any tax-related disputes.